How SCAM Gold Signals Channels on Telegram FAKE Their Trading Results (XAUUSD Groups)
- VasilyTrader
- 4 hours ago
- 3 min read
Many channels on Telegram are SCAM.
Gold signals groups are not the exception.
Many of free Gold signals channel will ROB you, if you miss this!
In this article, I will show you a trick, scam XAUUSD signal providers will use to fake their trading results and statistics.
Old Trick
You will see that trick in many popular free gold signals channels on Telegram.
Let's examine one of such channels and see what is wrong with that.
A signal provider sends free XAUUSD signal: entry zone, stop loss and multiple take profits are provided.
Here is the signal itself:
Unload some Gold @3640.5-3645.5
SL: 3647.5
TP1: 3638.5
TP2: 3636
After a trade was shared, an update for that is provided in 11 minutes.
FREE SETUP - QUICK 26pips HIT✅
An update is accompanied by MT4 screenshot with a running profit and MT4 Gold price chart with active trading positions on that.
This update is in fact an important red flag.
Let me show you what is wrong with that.
Signal Testing
A screenshot of MT4 Gold price chart is provided on 1 minute time frame.
Large black candles confirm the accuracy of the signal and huge running profits.
But let's test that signal by our own, and let's plot it on our price chart.
That is how this free XAUUSD signal looks.
I plotted that trade from the exact moment when this trade was shared.
Look what happened in 11 minutes when the update was provided:
Gold price slightly went below the entry zone: just by 7 pips, and returned within that, going higher.
Just compare this screenshot with a price chart on TradingView.
You can see that perspectives are dramatically different.
TP1 was way too far and no real profits were made.
Another Example
Let's take one more signal.
Sell Gold @3663-3668
SL: 3670
TP1: 3661
TP2: 3658
Let's plot it on our chart.
Here is how this free XAUUSD signal looks. What I also did in this example, I added the average spread 0.5 pips so you could feel a real perspective.
In just 3 minutes, the update for that trade is provided.
EXTRA TRADE INSTANT TP1//40pips✅
While the price indeed dropped to TP1.
The gain is 20 pips.
That is a too small gain in comparison to a potential loss for this trade.
MT4 screenshot on 1 minute time frame, again created absolutely misleading perspective and is used as a proof of a completely fake profit claims.
After doing so, such signal providers will advertise their VIP signals with even bigger gains.
Be Careful
You will see these trick in many gold signals channel.
These MT4 screenshots on 1 minute time frame create a false perspective and let scam signal providers fake their trading results.
While big black candles look very strong, in fact it is just limited, short term price movements that have 5-6 pips range on average.
To see a real perspective, you will need to do your own analysis and plot/test a trading position on a price chart.
That will be the only way to see a real picture and not be convinced by false profit reports.
Legit Signal Provider
A trusted signal provider will trade with one take profit, one exact entry level, not the zone and will claim profit gain only when the target is reached.
Be careful in choosing a Gold signal provider on Telegram.
Scam channels will try to portray themselves as big winners that never lose.
They will use the trick that I showed you to create such an illusion and to fool you.
