Like seriously, I see these adverts all over the internet.
Examples are titles such as
The rich don't want you to learn about this.
8 out of 10 people quit their jobs after reading about this.
Bankers shocked, high school dropout makes millions after learning this method.
The list goes on.
Usually, these are adverts or articles by Ace Academy, Binary Uno, Other forms of options/CFD trading training sessions, basically, they want to teach you to get rich using some system or mind blowing lesson to change your personal thinking so as to inspire yourself to work harder.
Ok so I mean, it's pretty obvious what I think about such systems. Right?
Duhz... it's pretty much scammy. Hey it MAY be good for some people but usually, it's a waste of time and money. Usually these lessons costs something like $4000 or so, and they usually open a session after 100 people or more, meaning in a lesson of 2-3 days, they make $400,000 or more. That's some crazy money. And they'll teach you basic financial stuff like candle sticks, patterns, etc. Stuff which you can just google or wikipedia. Except that they make it into a nice presentation with food and drinks so that you can feel good that you are trying something new, and participants may not even know about such methods before listening to them. So it's quite sad really.
IF these folks had a get rich quick scheme or system, they wouldn't be training people. They would just be using the system to make more money for themselves. Like... isn't that obvious? If they are running classes, aren't they making money off... YOU???
And if they have a winning formula, why would they need to make money off you? It would be a waste of time right? Shouldn't they be just using the formula and just making money and not waste time on you?
Seems logical enough and yet, with the amount of advertising that I see online, it just means that the advertisements work. That's why they are advertising so aggressively.
So IS there a winning formula? Does it exist?
The answer is YES. It exists. There IS a model to make money consistently and quickly.
And obviously they don't sell it.
Here is the article. I recommend reading it just to drool.
I'll summarize, if you're lazy. It's a long article anyway.
It's about a fund called the Medallion Fund run by Renaissance Technologies which is the Fund Manager.
Jim Simons is already a well-known: math genius, professor at MIT and Harvard, recipient of the Oswald Veblen Prize in Geometry, and co-creator of the Chern-Simons theory. He was also a code breaker for the Institute for Defense Analyses, where he worked finding messages amid the noise.
This guy leaves his job sets up a fund and trades using models. He hires science wiz-es in his fund. Not those bankers which regular financial institutions hire. He hires PhD folks in computing, astro physics, etc. All to help with the continuous development of the model. And the model works. It trades by itself based on certain parameters.
Here are the returns
Simons determined, almost from the beginning, that the fund’s overall size can affect performance: Too much money destroys returns. Renaissance currently caps Medallion’s assets between $9 billion and $10 billion, about twice what it was a decade ago. Profits get distributed every six months.
This model is a highly guarded secret and is not used for their other funds which the fund manager "Renaissance Technologies" has started.
The fund is still going but is closed and only open for employees.
So yes, there ARE godly models which can make crazy money.
But NO, you can't buy these systems for $4000 or $7000 by doing a 3 day course at a hotel ballroom.
If they had such a model, they wouldn't be running lessons for these models, they would be guarding the models and making money off the models instead of making money of lessons.
So don't waste your money.
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