What is Diamond Setups or DiamondSetups.com? It’s a day-trading room and also a signal providing service too. They have nothing to do with Diamond investments. Those who are seeking opportunities for investing in Diamond should look here.
That said, the cost of joining and maintaining membership at Diamond Setups is $99 per month. It is owned by a man called Renato Santos. But that is also where the problem lies in.
Need to magically turn your $5,000 into $300,000 in a short time? No problem, Renato Santos’ trading signals will help you do that.
He claims to be a trading mentor as well. He will ‘teach you’ his 100% real and proven techniques for entering successful trades. Apparently, this guy only delivers 99% winning signals. You can never go wrong with his methods. How wonderful?
When you look at his life story, you may think that you’re looking at something from an Indiana Jones movie scene. This guy talks of how he learned to trade and manage risks in a ridiculous way. It’s hard to believe his stories.
He wakes up one day, sneaks to the Brazilian rain forest to trade some rough diamonds. This is a tale of adventure where he traverses the rain forest, fight with wild animals over diamond, while making sure that he is safe to see another day as a rich man.
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This man is simply a ridiculous character. That’s because he makes big claims which cannot be proved. For your information, this guy does not have a track record of trading success. He even admits on the Diamond Setups website that content is for educational purposes only. What more proof do you need to see that indeed this is a charlatan?
We’d like to point out the fact that Diamond Setups is actively being marketed at Stock Twits. You can see their profile here. We did a review about Stock Twits some time ago. It appears that Stock Twits is their main marketing channel, although they use Facebook, Twitter and YouTube as well.
As we have just said, his name is Renato Santos. He claims to have mastered the art of trading and containing risks while venturing in the wild jungles of Brazil.
This ‘qualifies’ him to teach and advice you appropriately on matters related to trading.
He tells a narrative of how he was ‘forced’ to trade diamond in the dangerous Forests of Brazil. He also talks of how lighting was so poor deep in the forest, and how he had to make quick decisions when it came to getting the finest diamond.
In the process, he ended up purchasing some bad stones, and this apparently taught him a lesson on risk management.
At this point, we couldn’t keep quiet anymore. Why didn’t he carry a flashlight? People who go camping in the woods do have at least one flashlight.
Moving forward, this man purchased bag fulls of diamond. Meanwhile, he was putting on Indiana Jones outfit. We don’t know what purpose this outfit was serving.
In the end, he was somehow able to transport the stones out of the forest and to New York, Miami, Los Angeles, Amsterdam, Hong Kong you name it. He claims that this phase of the task taught him about the various markets, and so he was able to understand them.
So while his early life is characterized by venturing into the forest, fighting with blood-thirst diamond dealers, forest bandits and animals, he never intended to do this for the rest of his life. It’s the reason he decided to transfer his skills to the world of financial trading, and that’s how Diamond Setups was born.
He claims to be a full-time professional trader at Diamond Setups. Very intriguing indeed.
Renato Santos is so generous that he wants to pass his skills to you for only $99 per month.
What raises eyebrows to the roof is the trading performance which he says is reachable. He claims to have a 99%+ success rate. We find this quite outrageous.
Let’s take the year 2017. He claims that his account has grown by 130% in the first 5 months of 2017.
We checked the Diamond Setups website and realized that this man was boasting a non-stop winning performance.
You can see it on the screenshot below. It’s ‘outstanding’, don’t you think?
Besides his activities at Diamond Setups, the guy also announces his amazing skills at Stock Twits. He calls it ”Traders Challenge” where he claims to have doubled a 10K live account 10 different times in the course of 2 years only.
Perhaps this does not sink very well. We can do the math. He claims that he was able to double a live $10,000 account, not once but ten times.
If that account was valued at 10k in 2015, it would now be clocking over 10,000,000 in pure profits. This is very interesting. In fact, if he kept doing this for just a few months, we are sure he would be able to settle the national debt of some countries.
At some point, we needed to contact Renato Santos because his background story was getting interesting. We needed him to give us proof of his trading success and not the screenshot above.
Did this guy have the means to verify his supposed trading results on Diamond Setups? We wanted to know. So we initiated an email conversation where he responded that he could not provide proof of his trading performance.
To add to that, he claimed that it was not important to show proof of how much he makes or losses from his trading activities. In other words, he was claiming that our question was irrelevant.
Seeing that this man was preventing us from asking him the hard questions, we decided to take a chance on him one more time. We requested for his current account statement which would verify his trades. Does Renato Santos even have a live trading account to start with?
The response was: ”I don’t even share my financial statements with my wife, so why would I share it with your readers?”
That’s it. This is all we needed to conclude that Renato and his Diamond Setups business was a fraud.
It is not wrong to hire someone to teach you how to trade. In fact, if you look at this list of Forex products, you will find one product that offers Forex mentoring to those who would want to learn how to trade.
On the same note, it is always important that trainers and mentors produce redacted account statements for purposes of verifying what they say.
Diamond Setups has been basted several times before. A man named Dean Handley did a Youtube video highlighting his experience with the owner of Diamond Setups.
From what you can see above, this is outright fraud. This man has no moral authority to lecture anyone on matters related to trading. He does not trade because he doesn’t own a live account. Yet he claims to be a day-trader. How is this possible?
The bottom line is that you’re not going to make a dime with Diamond Setups. Just ignore them.
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