Back in January, BehindMLM wrote about Youngevity’s decision to start trading foreign currencies.
The first product was called Max Trader’s Academy, and it was run by Sal Leto, who used to promote OneCoin.
Max Indicator was a part of Max Trader’s Academy.
The MAX Indicator is a type of software called an “Indicator” that is based on artificial intelligence.
The software is made to look at how prices and values change in several financial markets.
The MAX Indicator then makes a report for the user based on the information it has collected.
How is that going after six months? No idea. Max Things have been too quiet for comfort.
On Youngevity’s site, there are a few reviews of the Max Indicator from January/February 2022, and then nothing else.
Now, Leto has told us about 8 Minute Trader, the next trading opportunity from Youngevity.
It is said that the name “8 Minute Trader” comes from the average amount of time people use the system to trade each morning.
Leto said the following on a marketing webinar for 8 Minute Trader on June 29:
I made a deal with Youngevity that they could only use my strategies.
We have a system where we can take someone who has never traded before and put them on a call with us for five or ten minutes a day. In those five or ten minutes, we can help them make 5%, 10%, or 20% on their account.
Leto says he got his idea by deciding to “do the opposite of what everyone else does.”
Everyone said, “Don’t look at this chart.” Well, no one else makes as much money as I want to make.
What did I do then? I did the opposite and said, “I’m only going to focus on the US30.” The most unpredictable and crazy instrument in the world.
The US30, also known as the Dow Jones Industrial Average, is used for trading in 8 Minute Trader, with a focus on the first hour.
You put this on your computer, set up the screen, and then you can just click a button to get into or out of a trade.
The software is called MT4, and the signals are said to be made by AI.
In short, users click “buy” when the live chart moves into the green area (between the solid and dashed green lines). If the chart keeps going up, money can be made.
The selling area, which is between the solid and dashed red lines, works the same way, but in the opposite direction. If the chart goes into the red area, you click the “sell” button.
If the chart keeps going down, you make money.
It’s up to the user to decide how long they want to hold a position they’ve set. If I’m not mistaken, this video shows Maurice Katz showing off 8 Minute Trader on the live market.
Leto says that he has been using this strategy for the past six months with pretty good results.
As of today, June 29, 2022, we’ve been doing it every single day for 163 days. Those are business days of actual trading. We’ve lost a total of eight times. 8 losing days in 163 days.
This puts us back in January, and I can’t help but wonder if Max Indicator is being tested.
In any case, neither Youngevity nor Leto tells potential customers how things have gone over the past six months.
From the regulator’s point of view, all trading is done by hand, so 8 Minute Trader and Youngevity don’t have to worry about securities fraud.
Less clear to me is how to sign up with the CFTC.
People say “This is not financial advice” and “I’m not your financial advisor” so often because they don’t want to be called a Commodity Trading Advisor (CTA).
CTAs have to sign up with the CFTC, which is a long and complicated process.
Investopedia is where we go to get a clear explanation of what a CTA is;
A commodity trading advisor (CTA) is a person or company that helps people buy and sell futures contracts, options on futures, and retail off-exchange foreign exchange contracts or swaps.
“Personalized advice” is the key phrase there.
Members of 8 Minute Trader do download software to their own devices, but as far as I know, everyone gets the same buy/sell ranges.
I know a lot more about how securities trading is regulated than how commodities trading is regulated, but I don’t think 8 Minute Trader is personalized trading advice.
8 Minute Trader also has a part where you can trade at any time of the day. Customers can watch a trader and, if they want, do the same thing on their trade accounts.
Leto says this was added because people would get excited about making money in the morning, only to lose it all as the day went on.
The income claims could be where things fall apart. Let’s say 8 Minute Trader comes out and fails in the next six months. Leto’s claims of “5%, 10%, and 20% gains in five or ten minutes” could be seen as misleading.
For Leto’s income claims to be against the FTC Act, they would have to be different from what the average 8 Minute Trader customer sees. Youngevity could have a problem if most of its subscribers aren’t making 5% to 20% a day in five or ten minutes.
The claims about income have been made. They are already out there, and that’s how 8 Minute Trader is being sold.
From a due diligence point of view, I would strongly suggest that you do at least some basic research on trading US30 (DJIA). There’s a reason why it has the name it does.
And use any demo accounts you can find. But keep in mind that what you do or don’t do with a demo account doesn’t tell you much about how you’ll do when you trade for real. Leto agrees that the US30 is very volatile.
BehindMLM doesn’t cover trading advice that goes beyond that.
Start-up costs for Youngevity’s Max Indicator range from $210.99 to $499.95. Leto says he is “99% sure” that 8 Minute Trader will cost $599 up front and $199 a month after that.
Leto claims 8 Minute Trader will have its plan for how to pay people. The change was meant to start on July 4th.
Still, Youngevity’s website doesn’t say anything about 8 Minute Trader being out yet. I also looked at Youngevity’s official Facebook feed from June 30 and found nothing.
BehindMLM will write a follow-up 8 Minute Trader review after the official launch.
Update: On October 4, 2022, BehindMLM put out a review of 8 Minute Trader that stands on its own.