Back in January BehindMLM covered Youngevity’s foray into forex trading.
The original offering was called Max Trader’s Academy, headed up by former OneCoin promoter Sal Leto.
Attached to Max Trader’s Academy was Max Indicator.
The MAX Indicator is an Artificial Intelligent [sic] oriented software application known an “Indicator”.
The software is designed to scan the fluctuation of prices and values throughout several different financial markets.
The MAX Indicator then uses this data that’s been collected to product an information report ot the user.
How’s that going six months later? No idea. Max Things have been suspiciously quiet.
There’s a few Max Indicator reviews on Youngevity’s site dating back to January/February 2022, and then nothing.
Now Leto has revealed 8 Minute Trader, Youngevity’s next trading opp.
The name 8 Minute Trader is purportedly a representation of the average time people using the system trade each morning.
As stated by Leto on a June 29th 8 Minute Trader marketing webinar;
I gave Youngevity an exclusive licensing agreement to my strategies.
We have a system where we can take someone who’s never traded before and get them on a call with us, for five minutes, ten minutes a day, and help people achieve 5%, 10% and 20% gains on their account – in five or ten minutes.
Leto claims he came up with his strategy by deciding to “do the opposite of everyone else”.
Everyone was saying, “Stay away from this chart”. Well, everyone else isn’t making the kind of money I want to make.
So what did I do? I did the opposite and said, “I’m just going to focus on the US30”. The craziest and most volatile instrument in the world.
8 Minute Trader trading is done on the US30, also known as the Dow Jones Industrial Average – with a specific focus on the opening hour.
You download this onto your computer, you’ll have the screen set up, you’ll be able to get in and out of the trade by just clicking a button.
The software is MT4, and the signal range provided is purportedly generated by AI.
In a nutshell, if the live chart enters the green area (between the dotted and solid green line), users click “buy”. If the chart continues to trend up, profit is made.
The sell area (between the dotted and solid red lines), works the same way but in reverse. You click the “sell” button if the chart goes into the red area.
If the chart continues to fall, you make profit.
It’s up to the user how long they want to hold an entered into position for. Here’s a video of, if I’m not mistaken, Maurice Katz demoing 8 Minute Trader on the live market.
Leto claims he’s been running this strategy for half a year with pretty impressive results.
As of today (June 29th, 2022), we’re at 163 days of we’ve been doing it every single day, those are business days of actual trading. We have a total of 8 loses. 8 losing days in a 163 days.
This puts us back in January, and I can’t help but wonder if this is Max Indicator being tested.
In any event, detailed results over the past half year are not provided to prospective customers, either by Youngevity or Leto.
From a regulatory perspective all trading is done manually, so 8 Minute Trader and Youngevity are in the clear on securities fraud.
I’m a bit less clear on registration with the CFTC.
The reason you hear “This is not financial advice” and “I’m not your financial advisor” so often, is people are trying to avoid being classified as a Commodity Trading Advisor (CTA).
CTAs are required to register with the CFTC, and that’s a whole process.
For a specific definition of a CTA, we turn to Investopedia;
A commodity trading advisor (CTA) is an individual or firm that provides personalized advice regarding the buying and selling of futures contracts, options on futures, and retail off-exchange forex contracts or swaps.
The key words there are “personalized advice”.
8 Minute Trader members do download software onto their personalized devices, but as far as I know the buy/sell ranges provided are the same for everyone.
I’m far more versed in securities regulation than commodities trading regulation, but I believe 8 Minute Trader doesn’t constitute personalized trading advice.
8 Minute Trader also has a component where trading is possible throughout the day. This sees customers watch a trader and, if they want, manually copy what they’re doing on their own trade accounts.
Leto claims this was added after people got pumped making money in the morning, only to lose it all as they continued to trade throughout the day.
Where things might fall apart are income claims. Lets say 8 Minute Trader launches and tanks sometime in the next six months – Leto’s claims of “5%, 10% and 20% gains … in five or ten minutes”, could be construed as misleading.
For an FTC Act violation to occur, Leto’s income claims would have to be non-representative of the average 8 Minute Trader customer’s experience. I.e. if the majority of subscribers aren’t making 5% to 20% a day in five or ten minutes, Youngevity could have a problem.
Those income claims have been made. They’re out there now and that’s what 8 Minute Trader is being marketed on.
From a personal due-diligence perspective, I highly recommended you do at least some basic research on US30 (DJIA) trading. It has the reputation it does for a reason.
And make use of available demo accounts. But bear in mind what you do or don’t’ achieve with a demo account isn’t a predictor of live trading at a later date. As Leto acknowledges, the US30 is highly volatile.
Trading advice beyond that is beyond the scope of what BehindMLM covers.
Youngevity’s Max Indicator costs between $210.99 to $499.95 to get started. Leto states he’s “99% sure” 8 Minute Trader will cost $599 and then $199 a month.
Leto claims 8 Minute Trader will have its own compensation plan. The opportunity was supposed to launch on July 4th.
As of yet though there’s nothing on Youngevity’s website to suggest 8 Minute Trader is available. I checked Youngevity’s official FaceBook feed dating back to June 30th too – nothing there either.
Pending an official launch, BehindMLM will publish a follow up 8 Minute Trader review.