4/12 (Fri) Why do people fall for fraudulent products

EA developer Reiwa's double-I is here.

Sites where you can obtain EA include

not only the giant Gogojan, but various others

and some of them are said to be fraudulent products.

This time,

the article is about

why people get deceived by fraudulent products.

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[To begin with the conclusion…]

Fraudulent products and beginner EA users

who want to earn a lot right now

tend to connect with the same short-term mindset,

so their interests align,

making them prone to being deceived.

That’s the point.

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In fraudulent products, the first noticeable thing

is phrases like “10x your funds in one month!!”

“Your life will change immediately!”

phrases that imply you can earn massively right away,

sparkling and flashy

and easy-to-understand slogans that you often see.

Also, there is usually no long-term backtesting shown.

Even if there is, it’s only a month or short-term explosive profits shown on a smartphone screenshot.

But,

phrases like “Turn 50 years into 100 million!! Long-term and grand project launch!!”

or “You’ll be glad at the end of your life!!”

I believe you haven’t seen catchphrases that bring up events far in the future.

In short, their perspective is short-term.

It’s a short-term perspective.

(This is extremely important, so I’m repeating it)

Meanwhile, investment beginners tend to

also

have the mindset of “I want to earn a lot now,”

dreams of changing their life immediately,

“I want results now,”

or “I want results right away,”

in other words, this is also a short-term perspective.

In short,

fraudulent products and investment beginners share the same short-term perspective,

which means their interests align,

and there will be many who get deceived.

One big reason fraudulent products persist is

that this is a major factor, I think.

I don’t deny that quick big earnings happen, but

as soon as you become even a little short-term minded,

you may get deceived by fraudulent products,

or in more detail,

even an EA with a backtest of less than five years

could attract you,

leading you to a bad EA.

Personally, a backtest rising steadily from before the Lehman Brothers crisis to the recent times is desirable.

So that’s all for today.

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【Reiwa no Double-EA Listing】

https://www.gogojungle.co.jp/users/112481/products

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【Reiwa no Double-E’s Serial Articles】

■EA Beginner Course

https://www.gogojungle.co.jp/finance/navi/series/1700

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“How to calculate risk management for EAs”

https://www.gogojungle.co.jp/finance/navi/articles/64703

Easy tips to spot fraudulent products (in the case of EAs)

https://www.gogojungle.co.jp/finance/navi/articles/64738

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■No-nonsense! Gogojan Problem Discussion!

https://www.gogojungle.co.jp/finance/navi/series/1701

Where is the Gogojan contact form?

https://www.gogojungle.co.jp/finance/navi/articles/64723

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■Double-E Forex Tales

https://www.gogojungle.co.jp/finance/navi/series/610

【Reiwa no Double-E’s beliefs】

Develop EAs by legitimate methods,

gain the trust of more people,

and maintain a long-lasting WIN-WIN relationship,

aiming to revitalize the EA market and improve literacy.

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