Trading in financial products

Hi Mr Tan

What are your thougths about all these "trading expert" that we see everyday in the newspaper advertsing their courses and claiming to make returns of 100% -1000% easily?


They are many PMET that turn to such course hoping to find a way out of their financial challenges only to find that after spending $3k to $5k, they are nowhere near being financially free but some ended up losing even more money trading FX, derivatives  (options & futures) and stock market.


Why isn't the authorities like MAS putting a stop to this kind of nonsense? If the trainers are so good, they should be working for Temasek of GIC and helping them recover our billions of dollars lost!
Santi

My view

This is very sad.  However, it is difficult for MAS to put a stop to this type of training activity. It is better for the PMETs to realise that trading in financial products is likely to lead to losses over the long term.  

Being ignorant of the financial market, the novice traders are likely to be beaten by the full time professionals. It is like playing poker against a card shark. This is worse than gambling in a casino.