Learning stock market trade is always a better choice but from where to learn is still a question of concern. Many beginners often lose their capital not only in trading but by buying wrong courses.
To understand this, just imagine going to a school where teachers are not themselves trained enough. Instead of teaching they influence students by showing their degrees.
Do you think that would help you in building your career?
Of course not!
Then how PnLs screenshots of fake Finfluencers help you in becoming a pro trader in the stock market.
Story doesn’t end here. Beginner traders get influenced seeing high profits and buy premium plans & courses with the hope to make huge returns on investment. They have no clue that they are getting trapped.
Mr. Harsh (name changed) got trapped in one such case. He followed one Youtube channel where the finfluencer Ajit (name changed) used to display his profits. He then made them joined premium Telegram group at ₹9,000.
Ajit used to share his fake PnL on Telegram and influence users to join his offline courses by giving them assurance of earning ₹50,000 to 1,00,000 per day.
Enticed with the profit amount, Harsh decided to go to Delhi to take offline classes and paid ₹2,00,000.
Now, after payment Harsh expected to learn trading strategies and concepts. But nothing like that happened, instead Ajit shared only trading tips without providing any logic and reason.
Eventually Harsh lost ₹1.5 lakh summing up the total loss of ₹3.5 lakh. And in all this he didn’t learn any concepts of stock market trading.
- Here, Harsh decision of taking a course was not wrong. What’s wrong was why he took it. He paid a huge amount after seeing fake PnLs on Youtube & Telegram
- Further, Harsh bought a course with the greed to earn unrealistic returns but he didn’t raise the question, How?
- He didn’t validate the background of the so called mentor.
- Last but not the least, he didn’t ask the course plan and curriculum.
Now, in this case you can file a complaint against finfluencer by sending a mail to SEBI. Make sure you draft incident in detail and add valid proofs.
If you are a serious trader and considering taking a course, then make sure you do a proper background check of the mentor.
Make sure that the course provider is NISM certified. Futher, the trainer is not showing you any dreams by showing unrealistic dreams.
