[youtube=http://youtu.be/OGshlIOGntc]
In the spirit of “Billy Joe Jim Bob” I invite all of you! Please participate in the creation of your own “testimonial videos” as – you really can’t get enough of ’em.
I think I’ve replayed this back about a thousand times, and honestly have been laughing out loud most of the evening. I absolutely love this guy.
My eyes are wide open now!
Have a great weekend everyone, and please send this link / video to anyone and everyone you know who might enjoy a good laugh!
Craaaaaaa Zy!
Love it.
When Testimonials Tell the Real Story
That Billy Joe Jim Bob testimonial isn’t just comedy gold — it’s a perfect snapshot of where most retail traders find themselves. The wide-eyed enthusiasm, the complete disconnect from market reality, and that beautiful moment when someone realizes they’ve been chasing shadows in the forex game. This is exactly why I keep hammering home the same message: stop looking for magic bullets and start understanding what actually moves currencies.
The Testimonial Syndrome in Trading
Every day, thousands of traders get sucked into testimonial marketing because they want to believe there’s a shortcut. They see Billy Joe types raving about some system, some indicator, some guru’s “secret method” — and they buy into it hook, line, and sinker. The reality? Most of these testimonials come from people who’ve been trading for about five minutes and think a lucky week makes them forex prophets.
Here’s what Billy Joe and his testimonial brothers don’t understand: forex isn’t about finding the perfect system. It’s about reading central bank policies, understanding economic cycles, and positioning yourself ahead of major currency moves. When USD weakness starts showing up in the data, you don’t need a testimonial to tell you what’s happening — you need to understand why it’s happening and how to profit from it.
The Real Market Movers Don’t Make Videos
You know what you’ll never see? A testimonial video from someone who actually moves currency markets. Central bankers don’t make YouTube videos about their “amazing forex system.” Sovereign wealth fund managers aren’t posting before-and-after screenshots of their trading accounts. The people making real money in currencies are working with information, not inspiration.
While Billy Joe is getting excited about his $47 profit on EUR/USD, institutional players are positioning for multi-month moves based on actual economic fundamentals. They’re not chasing pips — they’re chasing paradigm shifts. When major economies start shifting their monetary policies or when global trade patterns change, that’s when the real money gets made.
Beyond the Hype: What Actually Works
Stop watching testimonials and start watching what matters: interest rate differentials, inflation data, employment numbers, and political developments that actually impact currency valuations. The traders making consistent profits aren’t the ones shouting about their wins on social media — they’re the ones quietly accumulating positions when everyone else is confused.
The forex market doesn’t care about your enthusiasm or your testimonial. It cares about supply and demand, about capital flows, about the fundamental forces that drive one currency stronger against another. When you understand that the market bottom signals often come disguised as boring economic data rather than exciting breakthrough moments, you start trading like a professional instead of a hopeful amateur.
The Billy Joe Jim Bob Reality Check
Here’s the uncomfortable truth that no testimonial will tell you: most retail forex traders lose money. Not because they lack enthusiasm — hell, Billy Joe has enthusiasm in spades. They lose because they’re focused on the wrong things. They’re looking for validation instead of information, excitement instead of edge, and testimonials instead of fundamentals.
The market rewards patience, discipline, and understanding — not excitement and testimonials. Every time you feel tempted to buy into someone’s trading success story, remember Billy Joe and ask yourself: are you looking for entertainment or are you looking to make money? Because in forex, those two things rarely overlap.
The next time you see a testimonial video, laugh at it like I did, but then get back to the real work: understanding what’s actually moving currencies and positioning yourself accordingly. That’s where the real profits are hiding, not in someone else’s success story.
Kong thats one of the best selfies I’ve seen in a while lol 🙂 Keep it up!
I’m still chuckling over here.
I love the “my eyes are wide open now!”
he he he…still laughing.
Pissing myself, although may be time for new hat, lol.
Some food for thought. Sort of related to Deano’s comment from a previous post. If you consider debt growth to be a symptom not a cause of a low growth environment. …because developed nations tend to debt spend in response to low growth. And you consider low rates a response to deflationary pressures….whether rates are artificially suppressed or not …..because it’s the reason why low rates are needed that matters. So very high debt growth and the need for ultra low rates should actually be indicating peak deflation because these are the symptoms and responses to said pressures. So the next stage is likely strong inflation which in the past generally means a lower dollar. How we get that lower dollar will likely be driven by the feds response to this first contraction. Hmm…..
Oh and uh ya AWESOME video! Deano is right. New hat time for sure. Pretty rad dude all around though haha
JSkogs!
I’m putting a post together specifically on the classic “argument” deflation vs inflation etc..
Perhaps you and a couple of the other guys can pick up “there”….as I know for a fact I’ve got a lot to learn.
I look at most things from more of an abstract / creative angle and not as much as an “economist”.
You guys seem to have the jargin / understand and more importantly ( as I don’t really ) – the interest!
But please explain to me:
Who or what power law tells you that in after a phase of deflation and low artificial rates to fight a contracting economy there MUST come a phase of inflation, higher rates and crashing currency? And crashing currency against what?
We are still talking about a system, created and run by human assholes. And no natural/physical law is involved in this system. So there is no causal “if” and “then”, and if this is clear to us, we will see that we are not able to determine anything on timeline.
Happy weekend 🙂
Hey man…..pick this up later this afternoon or by tomorrow morning, as with JSkogs.
It’s a great debate / area for learning as I really think alot of people would benefit from the convo.
I’ll get a post up pronto.
Babb haha good reply. I certainly agree with some things you’ve said. Especially the asshole part. Often I’m personally talking about likely not given outcomes that are based on market mechanics and outcomes from the past. So please never get me wrong…I do not have a crystal ball and I am only trying to offer and receive insight to a blog that I think is very worthy. My background comes from some formal schooling in derivatives, economics, business management and marketing. I trade forex, commod and index futures and I own and operate in partnership with others a few different businesses. But what I value the most is a network of old men I know that have profited handsomely from inflation….The other thing I value the most is my own mistakes. So inflation has always happened with short spurts of deflation or something called creative destruction which is just a fancy way of saying shit got overbought. Inflation in the past takes time to work itself into the system. The things the Chinese are worried about when it comes the usd are probably already happening. The cash supply is absolutely enormous now and will take time to find itself harshly devalued. We haven’t lost half the world’s population overnight so people still need lots of stuff. I’m not saying this will happen overnight. When I’m not on a mobile I’ll spend some time drafting up what I know the relationship to be between policies rates cash supply debt inflation deflation and very importantly lag time. ..and see what readers opinions and comments are.
Shit man!
I was hoping you guys would open this up under another “dedicated post” shit!
Well….I’ll be posting it anyway, and hopefully you guys can fill in some space / blanks as….it’s really not my area, and even just some real base level discussion will be great.
I’m sure a couple other cowboys will get in here too.
There will be post tomorrow on the straight up basics of deflation vs inflation.
Sorry Kong that was just a quick pre ramble. When you make a post I’ll see what I can whip up bro
Great Jman…as ya you’ve obviously got this area under your belt man – wow.
You went to school and actually studied this stuff then? Impressive man.
hehe… so is this your average follower? 🙂
You gotta love it!
I can say with tremendous pride….An American!
And not a video suggesting that I’m an ass.
hmmmmmm
This dude made my day. Love the video.
The Most Dangerous Trader in the World:
smartmoneytracker.blogspot.com/2014/01/the-most-dangerous-chart-in-world.html
(and funny how he doesn’t mention telling people throw caution to the wind and buy equities on Jan 14th)
Over my dead body would I ever actually send a link to Dumb Money so….if people want to go look ( which I can’t really imagine ) they can copy and past into the browser.
Ironically ( oh so ironically ) he’s been sending me piles of traffic day after day after day after day…….
Thanks again for standing up to that clown. As a friend just pointed out to me, it is funny how he says “We can safely assume now that..” because “safety” isn’t in that guy’s trading wheelhouse. Given how dangerous a trader he is, and how much money he causes his subscribers to lose if they actually follow his advice….I’d say that If he still has subscribers by the end of the year, then I’m probably in the wrong business and need to start a newsletter. LOL
They still might want to look, if only just for lessons on what NOT to do, and for the comedy factor.
At the very least the S&P should test the 1765 range if that does not hold Monday then it’s off to the low 17s…. again I have daily NEG squeeze fires in both the DOW & S&P….. Unless the PPT arrives as new buyers & the Fed as some surprise announcement before Wednesday ( I don’t think that’s going to happen ) then we should test these areas between Monday & Wednesday IMO….
Dow as support to 15500 -15300 then its down to 14800….. that might spark some attention if these fail before Wednesday… LOL
KONG!!!! You put on weight!!!!
And I knew you weren’t really no Canadian.
LMAO!
He he he…….ya that’s me. You bet.
Tis pretty funny.