Why the INNOCENT traders always get scammed

I received a very important question from a dear member named Bakang. He asked

"Why do people who show the most dedication are the ones who gets scammed most of the time".

Now, I have given an indepth answer with certain reasons and a book I wrote, because of how important this topic is...

Please read it and share it to your friends, family and groups. You just might be helping them avoid being scammed themselves.

Here is my answer:

Thank you for your question and it is a very common problem in society.

There are many reasons why innocent people tend to fall for scams when it comes to the stock market and other high promising schemes.

Reason #1: Humans are just too trusting

Humans have a tendency of trusting the fellow man and believing in the greater good of them. They read about how they’ll make fortunes with them using secretive and insider information – and they make you feel a part of something.

Then as soon as they have your money, they leave you and head over to the next victim like a snake in the grass.

Reason #2: Hot next thing

Every scammer tries to outwit another scammer’s intention. They see what one scammer is offering and they make even more false promises, lies and tendencies.

Then the innocent person is lured in because they don’t want to MISS this ‘once in a life time opportunity’. This has been happening for thousands of years, and human nature is unlikely to change.

Reason #3: Being persuaded by top marketers

The biggest type of scammer is the loudest, most charismatic and they show off things that they don’t have. Or the money they do have it’s from the people who have been scammed.

This is where you read the loudest promos, false and misleading information and advertising.

Also, my favourite is where people read FAKE testimonials with life stories on how something changed their lives…

Reason #4: Fear, Greed and Ego

Most people who are scammed fall for the two big sins of life. Fear and Greed. They fear to miss out on these opportunities and fear that it will never come again.

They have greed where once they’re lured in, they believe in it and deposit a lot more money having this undeniable faith they will be rewarded.
EGO is the one that is hardly spoken about but I think it’s equal to fear and greed.

Ego is where they refuse to believe it’s a scam. They believe they made the right choice joining them and where they want to prove to everyone, he/she was right and they were wrong.

Reason #5: Lack of education

The first way people are scammed is when they don’t have the starting education and understanding of the true and real principles that come with the venture they’re in. They think, because they have money they will win.

But when you dig into the actual principles and education, you’ll realise that there is and has never been a get rich quick way into anything. Everything requires risk and probabilities to achieve some kind of reward in the medium to long term.

Other reasons!

There are other reasons like feeling desperate to do something, acting urgently without thought, being persuaded by others and believe wrong and false information on a website.

It is up to you and me and all of us to better educate ourselves, avoid any scams and to choose the right people to trust and learn from…

Hope this helps and feel free to share this to spread awareness to fellow traders.

Trade well, live free.
Timon
MATI Trader (Trader since 2003)