There have been several fake business and money market wizards who have time and again fooled the public with their schemes when the reality is that more than them actually making money with their so-called systems or unique methodologies of beating money markets, they actually rip off honest people’s money by getting them to sign up for lessons and courses. This is something that is happening time and again and someone should put a stop to it.
The latest money market guru to join the bandwagon is Steven Dux, a Chinese student who is young and so successful that Timothy Sykes, another controversial finance wizard, took him as his student and proudly proclaimed him as his biggest success story and achievement. It was reportedly the advice given by Sykes that helped Steven Dux make his millions. Things are more complicated than this. Dux is using strategies which are practised by multiple other traders.
Steven Dux was a struggling engineering student who found out Timothy Sykes and then learnt all about his system for making money, investing $5,000 on the latter’s Millionaire Maker program. In 14 months, Dykes reportedly increased his wealth from $27,000 to more than a million. He has also shown proof of his income which may be true or false, there is no way of verifying. Dux then thought of selling a slightly cheaper money making system of his own as compared to Timothy Sykes since he had anyway struck it rich.
Penny stocks is what Dux really specializes in and offers tips on. They are some of the most volatile instruments the world over. It is really difficult to profit from penny stocks and one should be in it for the long haul in general. Steven Dux, based on several complaints and regretful posts from people, is not really generating value for anybody with his course and particularly because he is looking at penny stocks.
More about Steven Dux and his program
The basic product that Steven Dux reportedly sells is the DVD of his trading techniques. Dux is basically not doing anyone any favours since this costs around $1,300. However, the biggest fraudulent shock comes across from this fact as buyers soon find out- this is not a DVD at all. In fact, this is only access to online streaming videos. This DVD covers various aspects including the basics behind trading in stocks, short and long trading, managing risks, strategies for trading and collection of useful statistics.
There have been several doubts about the DVD actually working for people and in my opinion it DOES NOT. This is common place knowledge posted from here and there and combined into something more presentable but I doubt it really works. Most of the information on this DVD is readily available online without paying a single penny. Most people are losing money since they are going by whatever Dux is saying and as a result, those who are not getting into the core of the stocks that he is choosing, are losing out since prices have been inflated artificially by everybody who is buying into the same.
The biggest problem is that the video cannot be downloaded at all which is really frustrating. An internet connection is always required to watch and learn things from the video and in case this is a problem, you will only end up losing money from something that will be totally useless. Dux must have his own spurious reasons for not allowing people to download and get videos. Steven Dux also has an army of people who are writing positive reviews for him. He has managed to hoodwink Google and you will never find an accurate review of people who have tried the system and point out any flaws. There are some of these people but they are covered by the huge stream of positive reviews. He only allows best reviews to link to his site.
Some people have written how they are strongly suspicious of Steven Dux who claims to be the guru and able student of another controversial financial hustler Timothy Sykes. Sykes and his followers are only experts at getting people to sign up for their fraudulent and dubious programs. This is the same principle that his student Dux is also following. They are using this fast cash generated from countless hapless people looking to make the next quick buck. The entire philosophy here is absolutely false. Steven Dux has lost a connect with reality at least through his claims. 90% of trades made following his advice have not been successful and the only thing he thrives on is getting more and more followers and people who have bought into his idea.
Steven Dux also charges quite a bit from people who sign up and the first tier is those who are paying $99 for the live chat room which has the live trades made by Dux and other strategies for the day. The second is $149 and is a live chat room and access to the 8 core strategies employed by Dux and probabilities of every trade. These charges are on a per month basis. The third tier is Market Mastery Silver which tops out to $2,000 annually and $3,500 annually is what you pay for tier 4 or Market Mastery Silver. Market Mastery Ultimate comes for $8,500 annually and every tier is stacked onto the other in the pyramid system. The higher you fork out, the more attention you will get from Steven Dux and in the end you may end up with nothing at all as noted by several people who have fallen prey to his ingenious scam.
The DVD is also another part of the sham operation which costs $1,300 and supposedly contains other secrets of trading which are basically non-existent all throughout. There is no DVD at all and what he is selling is actually an online portal which teaches the same 8 core strategies used every day. The whole operation is a commercial operation without any actual user benefits while their complaints and negative reviews are adeptly wiped out by the company at the first instance they chance upon the same. The entire thing is confusing and really fraudulent.
An investigation was conducted earlier by several experts who had got several complaints from people that this was another scam pulled off by Timothy Sykes and his ilk and also that this was fake YouTube stock trading. Steven Dux, according to several complainants, needs to be really exposed and given punishment for conning so many people out of their hard earned money without really getting them any benefits. Timothy Sykes already has a dubious past selling programs which are messy and complicated and have put several people in a financial soup. Steven Dux was also cut from the same cloth. The Chinese guy had ended up in Ohio as part of his story and was peddling a story that seemed totally false to most people.
What Steven Dux does to fool gullible believers?
Steven Dux was posting material left, right and centre throughout YouTube, claiming that he had done the impossible by going from $27,000 to $900,000 and he also upped this to $1.5 million by posting more videos or so it seems! This went up steadily to $2 million and $3 million and finally $4 million. It was all happening and magically it seemed and people were buying this mystery success story. These investments are impossible legally, ethically and practically. No reasonable person would believe this sort of financial growth in only 4 years or so.
These investigators then created separate email ids and started talking with Steven Dux. Every email character was gullible to him or so it appeared. The identity of one email appeared to ask more questions, one was a little sharp, one was tough and one was soft or so it was stacked up. These investigators desired access to the actual trade secrets or statements from brokerages which would be proof of the performance of Steven Dux’s investments. However, Dux refused to provide any proof of the same which points at him being a major scam by all means. Steven Dux also lied to these investigators once he found out their identity and connection to financial markets. Several investment gurus often lie to people and look where their followers end up. In typical fashion, Steven Dux also kept delaying the procedure and then submitted false statements from brokerages.
The account statements were compiled together from two accounts which were separate upon further investigation. It was a really clever operation or scam. The person would purchase in one account and sell in another at the same time. The record from the winning account would be taken each day and the winning trades would be pasted cumulatively into the document which displayed the win rate as being 100%. The person was building a fabulous track record which was really a scam and also wasting the overall commissions at the same time to keep selling his programs and services.
The chat room was joined by several people who quit after some time since they found better ways to actually make money rather than wasting their time and money on this fruitless pursuit. Dux usually gets into the chat room in the morning and will keep alerting members about good trades. He usually trades twice or thrice in the week and there are days when Dux is at the Tier 3 chat room and the assistant will keep alerting about real-time trades as well. In case there is no trade, Dux leaves at 11 AM or a little later in the afternoon. He majorly sells out his share prior to 12 PM in case he is trading. These are people who hung onto every word that Dux said and yet ended up losing their money. Another thing that happens and is the chief reason for people making losses is that whenever Steven Dux picks a stock which is a great opportunity, it is purchased by all the people in the group and the locate fee jumps to levels which you never imagined. Even for low float stocks, buying a 1,000 shares can go up to a whopping $100-200 at times.
What this shows us is that there is no shortcut to making money even though scammers like Steven Dux may tell you otherwise. They will employ clever tricks in the book to try to get people to sign up. If even a mere fraction of people being targeted sign up for the program, Steven Dux will get his millions coming in and will keep manipulating stock accounts to show that he has a flawless track record. There is no actual proof of the system working for anyone which explains why Dux is perhaps the only success story churned out by Timothy Sykes. Steven Dux is now going even bigger with an avalanche of videos and in some time, his programs are going to get costlier as well. As a result, people will continue falling for his so-called pearls of wisdom and keep wasting their money unless his sham operation is stopped.
People must realize that there is no place in the world or investment avenue which gives a return of more than a few thousand percent in a few years. That is insane and no one has ever seen something legally happening like that. These unrealistic expectations are being fanned by Dux and his cohort for getting more money from member sign-ups and they are not bothered about people investing their hard earned money. The money earned from members is enough to keep a lavish lifestyle going; one does not need constant stock market success to maintain the same if one is clever enough. People should stay away from such fraudulent financial gurus if they want to see their money safe and sound. Steven Dux is a fake guru and should be treated as such. Do not invest your hard earned money here by all means.
Reference Link:
Will you give me a million dollar for 27K bucks? Steven Dux does
Let us earn some sweet cash. A sixteen years old lad from inward mainland China made his way to USA at the age of 16 and by investing US$ 27K gained a return of US$ 1,000,000.
He narrates his story that he knew no English;even then he searched the internet to find foster parents overseas. Internet might be in Chinese in China but it is not in USA. The loophole that can be seen starts from here. He tells his caretaker parents that he will be staying with them, in Chinese perhaps because he did not know English. It would have been pretty tough, Right?
If you are, even not a businessman, but a reasonable rational thinker, would you believe that the investment of US$ 27K can turn into a return of US$ 4 million in 4 years “legally”? I do wonder that, especially when you are making more customers online through YouTube channels. Undoubtedly, you need something to sell to the audience.
Trader to Teacher:
So the young millionaire man now has the audacity to teach others what he has learned and experienced. He posts videos online. Everyone wants to earn as soon as he or she can and Mr.Dux, is a perfect teacher for this, as it has been portrayed.
If he is a millionaire, probably dealing in stocks, he would be very smart yet he would have to think, think and again think as to where to trade and where not to. A reasonable amount of time must be invested for investment planning, so instead of teaching tricks to others and giving them his treasurable time every day in which he could have made more coinage, should not he write a book based on his strategies and principles followed by know-hows and his assumptions and molds. It would have hit the best sellers’ record had he done that. Don’t you think that? But there is a problem, had he sold those books, people would have assimilated knowledge but he would have failed to gain capital. So there is another dubious method, in accordance with the advancement of technology and time, the social media. He has opened his chatrooms for people and even in there; there is refinement and “less useful information”. The chatroom is divided into four packages, in the form of a pyramid. For a good amount of US$ 99, you will have the threshold knowledge that could have been acquired by other simpler means like that of newspaper. In an exalted price of US$ 149 per month, there are minor new features for the exhibition. There is a third, a fourth and a fifth noble package too, which are termed as Market Mastery Bronze, Silver and Ultimate with prices of US$ 2K, US$ 3.5K and US$ 8.5K respectively. A sudden surge in the last package, a surge of US$ 5K. A very high jump just as Mr. Dux had in his penny stocks.
The real question is whether he really aimed to teach people how to earn or not? Does he really want young people, like once he was, to gross to placate their needs, establish their splendor in the world of Wall Street and help them move towards sustainability? Any even-handed person will not think that because if he really wanted to teach people, he would have had distinct packages for teenagers and youngsters but there are none as such. No book, no free tutorials, no distinct packages but only those who are financially gorgeous, who can cart sparkly credit cards, should be allowed to cross the threshold ofhis chatroom classroom but no financial layman can afford that. Imagine a peon at a high school or a driver who desires to earn money and make a better living, inspired by his story, he would assuredly like to learn from Mr. Dux, but Mr. Dux neither teaches for free nor does he settle for less. There are and there were individuals better off, shrewder and more practiced than Mr. Dux but they did not resort to such procedures.
For Example, Dale Carnegie wrote “How to win friends and influence people in the digital age” which is more advantageous and imperative simultaneously than learning trading techniques, because tradeoffmethods can make you a millionaire and still hated whereas winning friends and influencing people can make you and people around you happy in addition to the high chances of becoming a billionaire but Mr. Dux is unable to do that because he knows that if he installs his accurate and concentric centered techniques in others with a mere purpose of educating others and saving the world from another financial crisis, someday, someone like him, wiser than him will take all over and might turn him upside down. Let me clarify this by a simple principle statement ( to which anyone, even you can disagree): If you teach everyone, the techniques that you developed either by experience or under mentorship, so openly, when you are yourself a part of the process and you have a lifetime in that field, then perceptibly you will lose your worth and exceptionality.” And this is mostly applied in commercial circle. Mr. Carnegie did not invite people over to his place to teach them skills, he just wrote a book and gave that away.
Research Before You Invest:
People are falling for this trap, because they envision earning money at the fastest pace. One should always remember that, “One man’s weakness is others strength”. Here, the weakness of people is the strength of Mr. Dux and he is cashing it. It might look wise but ethically it is a rip-off, a white collar crime, sale of glossy silver things that latter turn out to be steel made.
There are people like the founder of the AliBaba Group, an noble Chinese man, he could have embraced similar thing too like coaching the skills of E-Commerce or Digital Marketing but he is doing a fair business and he is not even deceiving people for services. Had he started a side business like Mr. Dux, he would have been even wealthier.
Truth Speaks Business too:
Always remember that earning money and legal money is a tough job but as long as you do not give up, there are high chances that your sweat will keeping bringing you the delicious fruit. The material provided in chatrooms can be found on the internet while paying nothing at all. If a creature researches well then he will be able to find ample material for “free”. But here they are paying hundreds and thousands of Dollars for the knowledge that is gathered from different sources. There is another option, if he is gathering data from other cradles, it is perfectly fine, and as long as he takes his clients into confidence that this is accumulated data and that he is only charging for his efforts in gathering data and then making PDFs or online recorded videos for all without discrimination of package at any price, less than his offered packages. Again, it is bad for business. Actions speak louder than words, and his actions are speaking a different language. People also need to understand that there is also somewhat good fortune in addition to brainpower in dealing with stocks and that merely require initial knowledge and basic research instead of blindly following some investment guru.
Branded Products at your service:
Mr. Dux brings out a new product for you and that is his famous, and at the same time, infamous DVDs. Are you excited? The price is US$ 1300. Those DVD videos can’t be downloaded. Also the video content can be obtained from the Internet. So why DVDs? The main purpose is money and a publicity stunt. Now, how contradictory is this that online chatrooms for which people are transacting so much, still require an alternative as that of a DVD. Where should a customer go? Chatrooms or DVD? Mr. Dux might be of the opinion, “avail all costly opportunities that are being offered by me”.
Many of those who have listened and followed every word of Mr. Dux still ended up in misery. Many of those who paid so highly for chatrooms and DVDs and devoted their money to the advice of Mr. Dux ended up in despair. If he really earned his money from working very hard, starting from learning English to scrutinizing spreadsheets and so on then he should know the cost of hard earned money.
Sykes to Skies? :
When Mr. Dux appeared on the land of USA, he wanted to make cash, so, accidently either he found Mr. Sykes or Mr. Sykes found him. The notorious man is surrounded by fakery in services and yields. The man is utterly hated for his actions. A student of him, a person taught by him, what does the society expect from him? If a robber’s son becomes a robber, it won’t be surprising. If a student of a duplicitous and charlatan is in the market, instructing and guiding the people what to do with their money, is alarming and the community buying it, raises concern level, further high. What do you expect Sykes had taught him? It will not be honesty or taking care of values or the concept of making profit by profiting others. Sykes would have taught him the manipulation of people, their exploitation, selling a rotten green egg after painting it white and spraying it with some scented spray.
He is embezzling money from people with hopes and expectations and not only with greed. People like him and like his Master become the reason for deterioration of the society, corruption and the trust issues. Just imagine a student who wants to pay for his college fee looks forward to the advice of Mr. Dux for gathering up money but first he has to pay for DVD or for the chatroom and what if things don’t go well? What if money is lost in investment? That to some extent is acceptable because it is business but what if the student feels that money is squandered on services of Mr. Dux and that were the only reserves he had? You Mr. Dux, and the people like you, are intentionally or unintentionally creating more thieves and frauds, thus making the society unsafe. What if that student commits suicide because he made the mistake of trusting you? You killed a person indirectly, unintentionally but someone lost his or her life because of you.
Profit.ly or Profit.Lie? :
There is a famous website called profit.ly, sounds profitable right? Anyways, the data sharing regarding stocks on the site can be edited and depicted as winning percentage; the wittiest of all is that it has been founded by none other than Master Sykes. This website is quoted as a reference for data but what If the data is handled, managed and altered? It will not be upright but it will be gainful for the business of Mr. Dux.
Your charm my grace:
Another point that raises questions and suspicion over the notion of Mr. Dux’s fair play is that Master Sykes believes and claims Mr. Dux as his biggest achievement, acknowledgment and his brightest student, knowing the career and history of Master Sykes and his reputation, by no means Mr. Dux refutes Master Sykes’s claims. Mr. Dux had to deal with the public eye to eye, for more confidence and affirmativeness in business and entrusting his wisdom and powers, he should have renounced Master Sykes’s nourishment so people could trust him more but we have seen nothing as such till today. He took the patronage and coverage of aphonyto promote his business. Evidently, one can say that the probability of the “LIKE TEACHER LIKE STUDENT” is extraordinary.
Conclusion:
Mr. Dux might have been true in his claims, with stocks, investment and gain, which many think he is not but the fashion of selling “proclaimed trade secrets” is very disappointing. In the eyes of law, it might not be a crime but morally it is a corruption of immense scale. Countries that forget their morals are prone to breakability. Effective regulations should be made for such corporate white collar crimes and investigation into Mr. Ducks and Master Sykes case must be made.