Recently, a malicious individual from a competing school made a false and mischievous statement about Alpha Play and accused our head trainer of being a scammer.
Because the trading results that we shared openly were only up 6% to date for this year. It’s also worth mentioning that this is an account that we manage with a very stringent and tight risk management control
You see, we have made a commitment to only be honest about our trading results.
As a result of that, we subject ourselves to harsh scrutiny. But we are fine with that. Because we are aboveboard and we know that matured individuals will appreciate us for our honesty.
There are times when we do not yield fantastic results, but which trader or investor in the world can claim to make money at every trade or investment?
The likes of Warren Buffett and George Soros have lost billions of dollars at some point, but what is important is that in the long run, they make more money than they lose. In our case, we had the gumption to admit that on our trading account using the methods and strategies that we teach, we were only up 6% so far this year.
Never mind that we are trading with very stringent and tight risk management. Never mind that we prefer to be conservative than aggressive. Never mind that we don’t trade like gamblers and risk a lot of our capital. Because to this malicious individual, just because we are the above, we qualify as ‘scammers’.
This is a trading account that uses a very safe trading methodology that is meant to be fuss-free, easy-to-learn and unsophisticated, specially designed to protect even beginners who are very new in trading. It is only justifiable that it under-performs compared to those trading accounts that might be taking massive amounts of risk to make its returns.
In trading, we believe that it is important to be conservative and protect our downside. Our theory is that if we protect our downside, our upside will eventually be taken care of. This is why we always advise beginner traders to risk very little and to take only the highest probability trades to up the odds of winning and ending up with a positive trading account.
At the end of the day, even if it is only a 1 percent gain, at the very least our students do not lose all their money in their trading account. And with practice, they will eventually make more returns. Trading is not a get rich quick scheme. It is about practice, skills, knowledge, dedication and risk management.
You will note that in this instance where we were merely being transparent about our results, we were penalised for our honesty, yet when some other schools make audacious claims about their trading results even without proof they are being applauded.
We could also share that several of our students are now full-time traders and have yielded 10 to 20% returns on their investments in the same period. Yet this is the truth and they can be called upon to support our claims.
Despite the above, the competitor chose to brand us a scammer.
Being called out for being a scammer is an extremely serious allegation. It implies that we are running a fraudulent scheme out to cheat people of their money. We are not doing that nor is there any evidence or reason to say that we are. Yet this unethical individual is making such false claims in order to boost his own profile.
It is also sad and disappointing that the students of the competing school blindly jumped onto the bandwagon to call us a scammer under the leadership of this malicious competitor. When our students spoke up for us on his social media page, he chose to delete those comments.
We know for a fact that he has done the same to other schools and are aware that this is his modus operandi – to step on others in order to get ahead.
Our students have asked us why we are not pursuing a law suit. We have pondered over this and are reserving our rights to do so. In writing this article, we are making a strong statement that we are documenting and noting this malicious individual’s actions. We are prepared to take action when the time is right.
In the meantime, we will focus on adding value to our students’ trading education and let the nasty dog continue barking for now.
Because, before it knows it, karma will chew off its leg.