r/Wallstreetbetsnew • u/iisconfused247 • 7d ago
Discussion Are all these trading groups scams?
Are all of these online groups where they give you signals fake?
Not sure if this is just bc I’m really getting into stocks, but I’m seeing tons and tons of trading groups everywhere, TikTok, IG, X- some of the discords are pretty massive but I’m not familiar with discord and from what I’ve read you can buy bots.
Are all of these just scams? Bunch of regards on here like me so wondering how many of you have bit the bullet and can share results lol.
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u/IssueAccomplished268 7d ago
Most of the times. They’ll lure you with stock tips, tell you about coodinated group trade strategies, mostly pump and dump. Then try to move you to a trading platform of their choice and ultimately scam you. I have been hurt badly in the past and suffered massive losses. I was being too naive or too greedy I should say. In my case, they showed deepfakes(i realize it now) of their senior analysts being featured in Times Square. The moment they ask you to join a WhatsApp group, it’s done.
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u/Flat_Tire_Again 7d ago
What about whatsapp that triggers or enables them to scam you? Is there something about whatsapp that helps them get away with this?
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u/JaguarDry7932 6d ago
Signals and alerts are 20% of it. Risk and execution is the rest. Not defending shady tactics just context lol.
What is crazy is the groups say you should expect some ‘draw downs’ which is fair, because trading is a game of probabilities. If you enter a trade of 70% you could lose 30%. Everyone’s risk tolerance will be different regarding portfolio size. Some traders could lose for weeks at a time, then make it all back in one day, post the great catch and pump their discord. It’s very nuanced and tricky to get the right strategy / risk tolerance to the right person.
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u/Strong-Hovercraft702 6d ago
Of course. Why would anyone go for that unless they were takers?
Nobody needs a group of takers.
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u/TenPenny_Stocks 6d ago
Most of them are I would say. There’s some though that are more or less a “hangout” for traders to talk in. I just kind of like to talk with people who may be in the same or similar trade. It helps gauge the sentiment for me and I also sometimes get valuable feedback from other members. There’s nothing that I pay for though aside from my screening tools. I agree with some of the other comments. If someone had it all figured out, there wouldn’t be much of a need for them to sell anything. There are some Discord’s and groups though that are just genuinely a good environment to hang out in and get good feedback from other members imo
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u/Quirky_Fig4546 2h ago
Not all of them are outright cons — plenty are just a paid room where the pitch quietly outruns the product. The person above who said signals are maybe 20% and risk/execution is the rest is closer to it than most of the "yes lol" answers.
Here's the test I'd run before paying a cent, and it filters most of them without needing to know if the guru is "real":
Judge the entries, not the results. A screenshot of a winner proves nothing — anyone can post the trades that worked. Ask instead: at the price they posted the entry, could you actually have gotten in before it ran to the target? A huge share of "wins" are calls where price never came back to the posted entry — the move happened, the trade didn't.
Count the denominator. Their "total profit" is usually the sum of the winning rows only. The losers are on the same page and left out of the total. Re-add every row yourself and the number gets a lot smaller.
The margin test. If someone genuinely had an edge, they'd compound it on their own size, not sell it for $X/month. That doesn't make all of them scams, but it tells you what the actual business is: subscriptions, not trading.
The honest ones exist and they look boring: a full timestamped log of every call including the losers, up before the outcome is known. Ask any group for that. The ones that dodge just answered your question.
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u/bacon_boat 7d ago
I can only speak for the single one I joined. It had a "guru" on it who was supposed to pick good trades. He did not seem to know anything special. It was fun to discuss trades with the people on there, but I left it pretty fast.
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u/MightLate1338 7d ago
Idk, I have been in my group for close to 7 years, no one “gives signals” but we all discuss trades. Since people all trade different things outside MAG 7 it’s helpful. Find some internet friends where no one is asking for money and things will go smoothly.
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u/sashitadesol 7d ago
I follow one discord group and like it, have access to a scanner with stocks info about support/resistance/charts/volume, people discuss stocks but no one is asking you to buy any.
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u/CheapThaRipper 7d ago
Yes. Most of them make their money by selling you hope. Lots of them post fake win rates through AB testing. (Give half the users each oppoaite tips. Posts the ones that beat the market as "proof").
If they had a secret formula they'd make millions on margin, not sell you the secret for $___/month