The BirbNest - trading consultations and trading signals

[OogieBoogie]

This might be a bit controversal in a FIRE or Bogleheads forum, but anyway it might be of interest for one or the other here.

Just around week a friend of mine dropped me a link (https://www.thebirbnest.com/) and pushed me to look into this site/service. They are publishing high quality buy/sell signals and having a very lively Discord/Telegram channel with a lot of sub-channels around trading and knowledge sharing like webinars. They are professional traders in crypto, forex, stocks and commodities. There is a free trial for 7 days, where you can sign and test it out for a week.

My experience - I followed the “Official-Calls” they provide, did -3- calls which did make sense to me and was in/out within 2 days of that trade with a stupitly high profit margin (54%, 48%, 46%). Of course this must be the typical beginners luck… I guess.

So I do have now a yearly subscription and it is already paid (several times!) by one call like this below from yesterday:

https://www.tradingview.com/x/6Hcn3jUJ/

[MrCheese]

@OogieBoogie

My experience - I followed the “Official-Calls” they provide, did -3- calls which did make sense to me and was in/out within 2 days of that trade with a stupitly high profit margin (54%, 48%, 46%). Of course this must be the typical beginners luck… I guess.

IIUC these pump and dump schemes live from the dumb money that follows them. They make the biggest profit because they buy and sell before sending the signal.

But keep us informed. I just recommend to not become greedy and keep it at 10k play money or so.

[OogieBoogie]

@MrCheese

They make the biggest profit because they buy and sell before sending the signal.

Not correct, check the Discord time stamp, the Tradingview chart time stamp or you own chart tool about XRP/USD from yesterday.

[MrCheese]

Are they actually buying the asset or do they buy some Options (e.g. actual Calls and Puts)? Is it running on Binance? Do you trade on Binance too?

[OogieBoogie]

Those are traders and they share their thoughts. It is no financial advise (of course because of legal reasons) and you can buy/sell on any exchange you make your normals trades on this assets. In my case it is Swissquote and crypto.

[MrCheese]

Did you notice the 7 at the end of the biggest package price tag? Made me chuckle and remember the Contrepreneur post series of @MrRIP

But hey, I’m pretty naive and like get rich quick schemes so I probably sign up for the 7 day trial too.

[OogieBoogie]

Love the natural scepsis, it remember me of myself a week ago…

[MrCheese]

For which subscription did you go?

[MrRIP]

Please guys, can we keep this scam away from this “still mostly clean” online community?

Come on, seriously? paying 40-417 CHF/month for “trade signals”? Is there anyone with opposable thumbs that would base their financial growth on someone else sending them signals? And pay for that between 500 and 5k CHF/Year?

[OogieBoogie]

@MrRIP - love your blog and respect you as a person. But at least do your due diligence on this before call out loud “scam”. It is not so difficult and you can do this on your own without paying a dime.

[MrRIP]

Sorry for having beer a bit too rude, I apologize for that.

But no, I don’t need to do any due diligence, it’s enough to stick with conservation principles and First Principle Thinking. Like I don’t do due diligence on a friend claiming to have created a perpetual motion machine.

Jim Simons doesn’t sell trading signal, and he’s one of the incredibly few investors that research can’t explain. Are your guys skilled or just luck? How can you tell? Do you have 20 years - at least - of track record, with a recession and a 50+% market decline involved?

Ok, let’s assume they’re skilled (which you can’t tell with any statistical significance). How much are your guys more profitable than a passive index? Are your guys more profitable than Jim Simons? Really? Does their approach scale if hundreds of customers replicate their trades? Jim Simons not only doesn’t sell their trading signals, he doesn’t even accept your money in the fund. Highly speculative strategies don’t work if applied at scale.

I don’t need to do any due diligence to recommend anyone to NOT buy “trading signals” from anyone

Fama and French disapprove this:

AFA611-S8C-FamaFrench-LuckvSkill-JF10.pdf

Ben Felix also:

The Myth of Outperforming Funds | Common Sense Investing with Ben Felix

[xorfish]

I think the daytrading video is more relevant in this instance:

The Truth About Day Trading

[agniles]

I fell for something similar just CZ/SK based during the last crypto bull run in 2017/8 as soon there was a crypto bear market information provided was no longer useful/true. I think it is kinda similar to MLM - only people who can really profit from this are the ones who started the whole thing.