steve_b_wales Posted April 6, 2022 Report Share Posted April 6, 2022 Has anyone invested in the above yet. Is it too good to be true? Investments start at £250 with a 'fantastic' return. Quote Link to comment Share on other sites More sharing options...
gdadphil Posted April 6, 2022 Report Share Posted April 6, 2022 until it has had a track run with proven returns the scammers will have a field day maximising peoples greed. Quote Link to comment Share on other sites More sharing options...
discobob Posted April 6, 2022 Report Share Posted April 6, 2022 quick google - looks to be not very good at best - possibly disasterous at worst Quote Link to comment Share on other sites More sharing options...
7daysinaweek Posted April 6, 2022 Report Share Posted April 6, 2022 9 hours ago, steve_b_wales said: Has anyone invested in the above yet. Is it too good to be true? Investments start at £250 with a 'fantastic' return. Ahh, that 'fantastic return!' That does in my opinion appear to be 'too good to be true'. Just had a look at their site, it states their software which is BOT driven and taken directly from the website. 'Our trading system generates up to 100 trades per minute at an accuracy level of up to 90%.' On the face of it for many individuals that wording could appear very enticing and lucrative when in reality it means they are only accurate between 1% - 90% that is a large percentage of outcomes , 'up to' being the stand out wording. 'Accuracy' does not guarantee a positive return. If you dig a bit further on the website you will find this; 'The average daily ROI with our system is 25%. You could earn up to 90% in daily return during periods of increased market volatility. Their software trades the underlying market sentiment of bitcoin and a few other altcoins (cryptocurrencies) and you do not hold bitcoin as the asset directly. You may be fortunate to execute a few positive trades, however there is also a ton of other parameters which will influence the outcome percentage of the trade. Leverage, stop losses, slippage. liquidity etc. And then the risk with rug pulling your funds. It suggests the algorythim uses arbitrage opportunities also. If the software was that good and that lucrative the company would have little reason to allow retail access to the software they could simply utilise in arbitrage opportunities on both centralised and decentralised cryptocurrency exchanges. Just my opinion having tried these types applications throughout their development, you may be fortunate and hit a few runs, but no algoryhtm will keep you in a constant profit. Rember the old adage that 90% of traders will be unprofitable. Crypto can give huge gains but it can equally give huge losses. Steve, if you really need to scratch a crypto currency itch I wish you all the best in your endeavours and remember, never ever risk anything that you cannot financially afford to lose. atb Quote Link to comment Share on other sites More sharing options...
steve_b_wales Posted April 7, 2022 Author Report Share Posted April 7, 2022 10 hours ago, 7daysinaweek said: Ahh, that 'fantastic return!' That does in my opinion appear to be 'too good to be true'. Just had a look at their site, it states their software which is BOT driven and taken directly from the website. 'Our trading system generates up to 100 trades per minute at an accuracy level of up to 90%.' On the face of it for many individuals that wording could appear very enticing and lucrative when in reality it means they are only accurate between 1% - 90% that is a large percentage of outcomes , 'up to' being the stand out wording. 'Accuracy' does not guarantee a positive return. If you dig a bit further on the website you will find this; 'The average daily ROI with our system is 25%. You could earn up to 90% in daily return during periods of increased market volatility. Their software trades the underlying market sentiment of bitcoin and a few other altcoins (cryptocurrencies) and you do not hold bitcoin as the asset directly. You may be fortunate to execute a few positive trades, however there is also a ton of other parameters which will influence the outcome percentage of the trade. Leverage, stop losses, slippage. liquidity etc. And then the risk with rug pulling your funds. It suggests the algorythim uses arbitrage opportunities also. If the software was that good and that lucrative the company would have little reason to allow retail access to the software they could simply utilise in arbitrage opportunities on both centralised and decentralised cryptocurrency exchanges. Just my opinion having tried these types applications throughout their development, you may be fortunate and hit a few runs, but no algoryhtm will keep you in a constant profit. Rember the old adage that 90% of traders will be unprofitable. Crypto can give huge gains but it can equally give huge losses. Steve, if you really need to scratch a crypto currency itch I wish you all the best in your endeavours and remember, never ever risk anything that you cannot financially afford to lose. atb Well explained. It was only out of interest that I mentioned this, having seen it advertised on Facebook. The least I would have invested would have been the minimum of £250. But I'm not going to bother now. Quote Link to comment Share on other sites More sharing options...
Munzy Posted April 7, 2022 Report Share Posted April 7, 2022 Speaking from five years of crypto investment experience having seen incredible returns, huge losses and more scams than I can count I would stay well clear of this and anything like it. @7daysinaweek is spot-on; if returns are so good from this algorithm why sell access to it? Best case it will be fundamentally flawed and not generate the positive returns and worst case it is a scam designed to pump the price and trading volume of obscure altcoins which the algo creator coincidentally bought millions of the week before. Quote Link to comment Share on other sites More sharing options...
7daysinaweek Posted April 7, 2022 Report Share Posted April 7, 2022 3 hours ago, steve_b_wales said: Well explained. It was only out of interest that I mentioned this, having seen it advertised on Facebook. The least I would have invested would have been the minimum of £250. But I'm not going to bother now. Steve as Munzy also alludes, scams abound in crypto as they abound relating to other other financial markets that can also be unregulated. Gains can be made in crypto but it is not all a instant pot of gold as many social media sites would have you believe. You often hear of the people who make a 'billion' overnight with no experience, however, these are a very lucky few and wild gambles, for most who make a profit the road is long and there is always 'pain along the way.' As with all things, due diligence and learning is the key to increasing your chance of being profitable. If future trading the price of crypto use only a fraction of a percent of your pot per trade, cut your losses early, have a predertermined get out take profit level and upmost 'TAKE PROFITS' as this is why most fail. Alternatively research the asset and the exchange be they centralised or decentralised, buy crypto direct, hold the asset itself and keep hold in the 'hope' at some future point that the asset will rise and sell out at a profit. Do you due diligence before any investment. 2 hours ago, Munzy said: Speaking from five years of crypto investment experience having seen incredible returns, huge losses and more scams than I can count I would stay well clear of this and anything like it. @7daysinaweek is spot-on; if returns are so good from this algorithm why sell access to it? Best case it will be fundamentally flawed and not generate the positive returns and worst case it is a scam designed to pump the price and trading volume of obscure altcoins which the algo creator coincidentally bought millions of the week before. Thanks Munzy. VET holding up well at the moment, nice pump in the last 30 days. Quote Link to comment Share on other sites More sharing options...
discobob Posted April 7, 2022 Report Share Posted April 7, 2022 Also, HMRC has stated that they are interested in Crypto, and may be moving on a per trade tax - you make £100 they will want their cut of it. Knowing our lot, I bet you won't be able to offset any losses you have incurred either 😞 Quote Link to comment Share on other sites More sharing options...
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