Positive Traders is a website that offers to teach people how to become profitable in Forex trading. The website owner is known as David Shinkel, who claims to have been trading full-time since 2015. He also claims that he has mastered a unique strategy that has earned him significant profits over the years.
He is now offering training to help you learn this strategy. David claims that his practice can transform anyone into an expert trader within no time. He provides several courses that he says are direct to the point.
Additionally, he offers 16 hands-on webinar videos every month to his subscribers. He says that this will allow traders to learn directly from him and ask questions. However, 16 videos per month seem too much. That is four videos per week, and this gives traders very little time to assess what they have learned and apply it in trading.
We would love to see what these training materials entail and assess whether they are valuable. David says that these lessons are the best on the Internet. He says only experienced individuals with over eight years of combined experience teach these lessons.
Sadly, every company that provides Forex training says this. Therefore, research is needed to verify whether these claims can be verified. Unfortunately, we could not place this website among the best Forex trading solutions. There are a few details they need to polish out before we can wholly recommend them.
Positive Traders Review
The website for Positive Traders seems well crafted and has a professional presentation. However, the website contains an ad that you cannot remove unless you create an account. Therefore, it is hard to access the information contained on the website.
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The first product presented on the website is the Positive Traders’ six-week trading boot camp. This boot camp offers clients the opportunity to learn how hundreds of people are profitably trading the Forex market. Moreover, how they are doing this using David’s proven strategy.
However, the website does not go into detail on what the course they are selling contains. And this is crucial information that should be available to clients upfront. That is the only way they can know whether the system will be helpful to them or not.
Clients don’t want to purchase a course and then realize they already know the course’s information. For a company that seems so professional they should be able to realize this. David needs to improve on his transparency when it comes to the course’s information.
On a positive note, though, David admits that he does not offer a get rich quick trading method. He says his process requires time, practice, and experience to produce desirable results. It is refreshing to see. Many companies are promising unrealistically high returns that they cannot deliver. Avoid such companies at all costs.
Founder’s Background Information
The owner has revealed himself and provides some background information on his trading history. We appreciate the level of transparency that David Shinkel shows. It paints a great first impression on clients.
Moreover, he tells us his trading journey from 2013 to the present. He claims to have mastered a trading strategy that has proved profitable in the long run. Since he has been in trading since 2013, we expect this to be true.
Clients always want to know they are investing in a trading system run by an experienced individual. The Forex market is fierce, and it takes a skilled individual to run a Forex trading system successfully.
Furthermore, Positive Traders also offers trader copier services. Clients do not want to copy the trades of an inexperienced individual who does not know what they are doing. The market requires much technical analysis of charts and market events. Such skill only comes with years of practice and having a sixth sense about market events.
With all this said, we hope David has an impressive trading performance to support his claims.
David Shinkel Trading Results
David Shinkel has done a great job of providing his Myfxbook account to showcase his trading result. Having a verifiable performance record is another way that companies can prove they can deliver on what they promise.
David’s Myfxbook account is showing a 27% gain since June of 2018. Additionally, the monthly stands at about 2%. This confirms that David does not use an aggressive trading method and believes in slowly building up an account.
However, the account is also showing a drawdown of 11%. This dramatically reduces the total revenue realized by the report. Many traders do not appreciate this slow, methodical approach. Some traders want a system that can earn them returns higher than 27% a year. This way, even with a drawdown of 11%, they will still make significant profits.
Regulation and Customer Support
Lively Traders claims they are a licensed company based out of Arizona, USA. However, they do not provide any evidence to support this claim. We cannot verify that they are licensed to offer financial advisory services.
You should always research to make sure you invest in a company that is permitted to provide the services they promise. There are many risks in investing in companies that are not registered and licensed by the relevant authorities.
Any company that offers financial advisory services must obtain a license from the SEC. That is the only way they can operate legally.
Positive Traders has received mixed reviews on Forex Peace Academy, and their rating stands at 4.2 stars out of 5. It is quite impressive. The general feeling is that customers are enjoying the services provided by Positive Traders.
However, there are a few negative reviews about the company. Several customers have complained that the company did not help them. Additionally, a client has said that David’s low account management style cost him 20% of his trading account. Further, he claims that David Shinkel once disappeared for seven months.
It seems that several traders do not appreciate his slow, methodical approach to trading. It seems they were expecting massive improvements to their trading accounts. Sadly, this did not happen.
Therefore, the services provided by Positive Traders are not for everyone. Moreover, several customers have accused David of being uncommunicative for an extended period. They received no updates nor trade copier services from the company.
This is a very unprofessional move from David. At the very least, paying customers should be offered the courtesy of knowing what is going on with the company. Additionally, they should understand why they are now receiving services they have paid for.
Overall, Positive Traders seem legit. However, they have a few red flags that make them not recommendable. For starters, they need to do a better job of describing what is contained in the courses they provide. This way, clients will know what they are paying for upfront.
Moreover, David’s trading approach has proven not to work for everyone. He is a very conservative trader. Some clients appreciate a more aggressive approach so that they can make higher profits.
With that said, we cannot place this company among the best Forex trading solutions that exist. There are better companies that will offer you higher returns and more professional services.
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