Karen Foo Review. SCAM? [2022] - YouTube

hey what's going on i'm going to do a quick review of Karen

Foo and i'm going to provide my opinion

this is David Jaffee from beststockstrategy.com i'm actually

recording this at 12 05 a.m

my wife is asleep the au pair is asleep and i just needed

some time where things are like really quiet and i can

think very clearly and just be calm because typically during the day things

tend to have tend to be a little bit hectic

so in any case um i've watched about say like one or two hours of Karen Foo's

videos and to be quite honest i actually like

her i think um she has a lot of good content regarding

like mental health like depression she apparently has like a finance degree

which i mean let's be honest it's not really that important

i went to an ivy league university graduated with a 3.8 gpa

worked at some of the world's most prestigious investment banks and

the reality is it all that stuff is nice to tell people

but it doesn't really mean much you know i think that there's a lot of conspiracy

theorists out there who think that goldman sachs and morgan stanley and

blackstone that they have way more control over markets than

they really do um but at the end of the day i mean i

guess it's nice that she does have a degree in finance even though

it really is not going to help her in trading i definitely like

that she talks about depression and some of her depression videos and like mental

health videos are actually really good like she gives good advice

i also like i saw one of her videos where it said something about like

taking losses like a pro and um trading

where you're actually going to have a positive expected outcome

the issue that i have with Karen Foo is that in my opinion i think she's a fraud in

that she is unfortunately trading the wrong

product i mean retail forex trading is extremely

dangerous and it's probably like the worst thing that

a re that a retail trader could possibly engage in primarily because there's so

much risk in retail forex traders where there's

actually substantial counterparty risk where oftentimes the exchange

that the retail trader actually deposits money into is trading against them

and directly profiting from the traders losses now

i know that there are a few legitimate exchanges that offer forex like one that

just jumps out the page i mean that that i know is interactive brokers which

are one of the largest companies you know they're

publicly traded company but for the most part

a lot of companies do not offer retail forex trading and part of the

reason is that with the amount of leverage that is

extended to retail forex shoulders they always

have a tendency to blow up their accounts in my opinion Karen Foo

is a fraud and i believe that she's trying to copy and mimic

Adam Khoo so adam khoo where i mean this guy Adam Khoo

self-reports that he's worth like a billion dollars which to me is like

hilarious um you know my opinion adam coo is one

of the biggest frauds in the industry and i think that Karen Foo in my opinion

is trying to emulate and mimic him now um from watching her videos

i do think that she has good information if you look at some of her playlists

um you know for like mental health and things like that i just

unfortunately in my opinion i just don't think that she's a profitable trader

herself i'd be more than happy to take down this

video if she sends me some legitimate proof i

mean in my videos i sent you a full screen recording of

all my trades and then i also logged in to my account

on tastyworks downloaded the specific trading

statement for the year 2019 and then opened it up

in the browser so you know that there's no games being played because i logged

into my account and then specifically downloaded and

then opened it up if she can do something like that

and prove to me that she's actually a profitable forex trader then i'd be

happy to delete this video i would just like

to see some type of history whether it be like six months or a year

because in my opinion the likelihood that she's a profitable retail forex

trader is close to zero and also in my opinion the

probability that really any of her students

are profitable retail forex traders is virtually zero

now there have been numerous studies out there that claim that retail

day traders um with close to 100 certainty end up losing money and retail

forex traders are even worse so um let me let me show you some of the

videos

you know i do like some of her vlogs um i think she has a lot of potential i

just think that she's really in the wrong

product and i think that she is misleading a lot of people

now look everyone makes mistakes nobody's perfect

you know there's nobody who's perfect unless they're they're lying to you

i just really wish that Karen Foo would switch over from being in the dark side

to actually selling option premium because

i think she has a lot of potential and um

you know everyone makes mistakes so she's like a little bit low on money

and that's fine but i don't know why she chose forex like retail forex traders

don't make money

i mean i even like singapore i remember going to the marina bay sands

and meeting some people there it was a great experience i like singapore

i've been to malaysia as well i think that Karen Foo again

you know has a lot of potential but i think that

my gut feeling is she's probably been been like treated poorly and her way

of validating herself is to make as much money as possible

and i'm all for people making money i just don't want them to make money

where they're actually encouraging other people to hurt themselves

and i understand that Karen Foo does a lot of good things so i'm not gonna

this is a more positive review than i usually give because

i think she has great motivational advice i think that she's a good speaker

i think that she also provides great health advice but at the

same time retail forex trading is probably

the worst product besides like well i would say rip

a retail forex trading is probably one of the worst things that you could

possibly do there's no learning component there's no

technical analysis they're going to be able to use

it's just um it's just really bad you know how to trade the rsi divergence

strategy i mean like seriously all right let me

show you real quick the trading studies that that they apply

to day trading but remember that retail forex trading

is actually much worse all right so here's the recent day trading study

this came out just about a year ago from brazil

and as you can see we show that is virtually impossible for an individual a

day trade for a living 97 percent of them lost money

only 0.4 percent earned more than a bank teller

so pretty much you're virtually guaranteed to lose money and if you do

you're going to earn less the minimum wage

and then also it says here that the results were actually overstated because

they didn't take into account trades that were held

for more than one day and then they also had a

time constraint so they believe that the actual results are actually

worse than the stated results the people they downgrade and they think

that brazil and the many of vasquez are not

liquid contracts they're actually just as liquid

than the s p 500 they are the third most traded equity

index futures and options contracts in the world

they're actually more liquid than the e-mini s p

and the s p 500 index

they attribute and liken day trading as similar to casino

roulette there's no improvement so there's no

educational component in day trading and remember Karen Foo encourages you

to actually trade forex and as retail forex traders your

probability of profit is substantially worse

so i mean i don't know how you can be substantially worse than virtually

guaranteed to lose money but pretty much in my opinion i would

estimate that the likelihood that any of her students make money

over the long term by trading 4x is probably

close to zero that's my opinion you're welcome to disregard it

there's a summary there's no evidence of learning

it may not be sufficient to discard day trading as a possible career

those that made money earn less than minimum wage

and pretty much i mean the statisti those that actually made money they were

statistical outliers and they did so with

extremely high volatility in their returns

and over time it's likely that those people would have lost money as well

as you can see the standard deviation of their daily profit range from

six hundred and thirty two dollars to thirty three hundred and eight dollars

here's where i was talking about the reported performance is likely better

than the actual day trading performance is likely to be

overestimated for two reasons first we do not consider income taxes and other

relevant expenses such as cost of trading platforms and

courses second we only consider days in which

the individual purchases and sells the mini will vespa contract in exactly the

same quantity for instance we do not consider a day in

which an individual purchases five contracts and sells

rather purchases 10 and sells five and according to prior research retail

day traders are reluctant to close losing day trades due to the disposition

effect because of these two reasons retail day

traders actual performance is likely to be

even worse than what we report below and what they report below

is pretty damn dismal so in turn patterns like this

are are usually found in gambling activities such as casino roulette

so that's pretty much what you're doing when you day trade and

as i said it's worse when you're going to be trading forex

because the odds are not in your favor you can read the study if you so desire

they conclude that it's virtually impossible for an individual to d to day

trade for a living contrary to what brokerage specialists and course

providers often claim and hear all the references so yeah my

opinion Karen Foo is a scam

i definitely would not encourage those people to

trade and become retail forex traders but if you want to disregard everything

i say and you want to follow her and you believe in her then you're welcome to go

do it

so David Jaffee with BestStockStrategy.com if you have any

questions leave a comment below thank you so much for watching this

video and i appreciate your attention