Based on looking at the website, Thechartingsociety.com appears to be a platform that offers forex trading signals and educational content, primarily through a Telegram-based community.
While the site emphasizes “free access” and aims to “empower as many people as possible by providing free access to proven trading strategies,” the core service revolves around providing “winning trade set-ups” and encouraging users to “profit daily by simply copy pasting my trading setups.” This inherently involves engagement in forex trading, a financial instrument that carries significant risk due to its speculative nature.
For believers, engaging in forex trading, especially with leverage, often falls into the category of gambling or highly speculative financial activities that are generally discouraged. The emphasis on “copy-pasting” trades for “financial freedom” without a deep understanding of the underlying principles can lead to excessive risk-taking and potential financial loss, which goes against the principles of responsible wealth management. Our faith encourages earning through honest labor, legitimate business, and investing in tangible, productive assets rather than engaging in highly speculative ventures that can be akin to gambling, where the outcome is largely uncertain and not based on genuine economic contribution. Instead of pursuing quick gains through such high-risk activities, it’s far better to focus on building skills, pursuing legitimate business opportunities, seeking knowledge, and investing in halal income streams that provide real value. This approach fosters true financial stability and blessings in the long run.
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Thechartingsociety.com Review & First Look: A Deep Dive into Its Offerings
Thechartingsociety.com presents itself as a community-driven platform for forex traders, led by an individual named Mike.
The initial impression is one of accessibility, with prominent calls to action for joining free Telegram and community groups.
The site’s narrative is built around empowering individuals to achieve “financial independence” by providing “winning trade set-ups.” It heavily features testimonials and claims of significant success from its “students.” However, the underlying mechanism of “copy-pasting” trade signals, combined with the inherent volatility and risk warnings associated with forex trading, suggests a venture that requires extreme caution, especially for those seeking legitimate and ethical financial growth.
What is Thechartingsociety.com?
Thechartingsociety.com is essentially a hub for a forex trading community, primarily operating via Telegram.
Its stated mission, according to the website, is to “empower as many people as possible by providing free access to proven trading strategies.” Mike, the founder, claims to offer his “86% winning strategy backtested on over 12 years of data.” The platform aims to provide trade signals, market insights, and educational content to help users achieve profitability in the forex market. Moontraveluk.co.uk Reviews
The model appears to be centered around users duplicating Mike’s trades.
The Appeal of “Copy-Pasting” Trades
The primary allure of Thechartingsociety.com is the promise of “profit daily by simply copy pasting my trading setups.” This concept appeals to individuals with little to no prior trading experience who are seeking rapid financial gains.
The idea that one can achieve “financial freedom” without having to master complex market analysis is highly attractive.
However, this simplified approach often masks the significant risks involved, as blindly following signals without understanding the underlying market dynamics can lead to substantial losses, particularly when dealing with leveraged financial instruments like forex.
Relying on someone else’s signals for profit is a risky proposition, akin to putting your financial destiny entirely in another’s hands. Barkridges.com Reviews
Thechartingsociety.com Cons
While Thechartingsociety.com emphasizes “free access” and positive results, it’s crucial to acknowledge the significant drawbacks, especially concerning the inherent risks of forex trading and the potential for financial loss.
The nature of the service, which encourages “copy-pasting” trades, can lead to a lack of genuine understanding and an over-reliance on external signals.
Inherent Risks of Forex Trading
Forex trading is fundamentally a high-risk activity.
Thechartingsociety.com itself includes a disclaimer: “Trading forex and other financial instruments involves significant risk and may not be suitable for all investors.
The high degree of leverage can work against you as well as for you. Getharley.com Reviews
Before deciding to trade forex, you should carefully consider your investment objectives, level of experience, and risk appetite.
There is a possibility that you could sustain a loss of some or all of your initial investment, and therefore you should not invest money that you cannot afford to lose.” This warning is not to be taken lightly.
- Leverage Amplifies Losses: While leverage can amplify profits, it equally amplifies losses. A small market movement against your position can wipe out a significant portion, or even all, of your invested capital very quickly.
- Volatility and Unpredictability: Currency markets are highly volatile and influenced by a myriad of global economic, political, and social factors. Predicting their movement with consistent accuracy, even for experienced traders, is incredibly challenging.
- No Guaranteed Profits: Despite claims of an “86% winning strategy,” the disclaimer explicitly states, “Past performance is not indicative of future results. Any trading strategies discussed on this site, including those shared in the Telegram group, are not guaranteed to yield profit. All trading strategies are used at your own risk.” This is a critical point that users must internalize.
Over-Reliance on Signals and Lack of Education
The emphasis on “copy-pasting” trades, while appealing for its simplicity, fosters a detrimental over-reliance on external signals rather than genuine financial literacy and independent decision-making.
- No True Understanding: Users may execute trades without understanding the underlying market analysis, risk management principles, or the “why” behind a specific trade. This lack of understanding leaves them vulnerable when market conditions change or when the provided signals are incorrect.
- Cultivating Dependence: The model cultivates dependence on the signal provider. If the signals stop or become unprofitable, users are left without the knowledge or skills to trade independently.
- Risk Management Neglect: Effective trading requires robust risk management—knowing when to enter, when to exit, how much capital to risk on each trade, and how to set stop-losses. Simply copying signals may lead to neglecting these crucial aspects.
Potential for Financial Loss
Given the speculative nature of forex trading and the reliance on external signals, the potential for significant financial loss is a primary concern.
- “Not Investment Advice”: The website states, “The content provided by Charting Society and Mike, including signals, charts, and educational materials, is for informational purposes only. It is not an offer to buy or sell, nor a solicitation to buy or sell any financial instrument. Charting Society and Mike do not provide personalized investment advice.” This disclaimer shifts all responsibility for losses directly onto the individual trader.
- Emotional Trading: Even with signals, the pressure of real money on the line can lead to emotional decisions, such as holding onto losing trades too long or chasing winning trades, further exacerbating losses.
- Scam Allegations from Mike’s stated motivation: Mike himself states his motivation for starting Charting Society was because “a close person to me was scammed by a fake signal group almost losing everything he had.” This highlights the prevalent issue of scams within the signal provider industry, even if Charting Society claims to be different. The very existence of such scams underscores the inherent danger of trusting external “experts” with your financial well-being in highly speculative markets.
Thechartingsociety.com Alternatives
Given the speculative nature of forex trading and the inherent risks associated with signal services, it’s imperative to explore ethical and more stable alternatives for achieving financial stability and growth. Camcool.com Reviews
Our faith encourages earning through honest means, productive investments, and seeking knowledge that benefits oneself and the community.
Ethical Business and Entrepreneurship
Instead of relying on speculative trading, consider building your own business or engaging in ethical entrepreneurial ventures.
- Direct Value Creation: Focus on creating tangible value through products or services. This could involve e-commerce, consulting, crafts, or any endeavor that solves a real problem or fulfills a genuine need in the market.
- Skill Development: Invest time and effort in acquiring valuable skills that are in demand. This could be coding, digital marketing, writing, graphic design, or any profession that allows you to provide a service and earn a consistent income.
- Patience and Hard Work: Building a successful business takes time, effort, and perseverance. It’s a marathon, not a sprint, and the rewards are often more enduring and blessed. According to a 2023 report by the U.S. Small Business Administration, small businesses created 2.5 million jobs in 2022, demonstrating their significant contribution to economic stability and personal prosperity.
Halal Investing in Real Assets
Rather than speculating on currency movements, consider investing in real assets that generate genuine income or appreciate based on their intrinsic value.
- Real Estate: Investing in income-generating properties residential or commercial can provide steady rental income and potential capital appreciation over time. This involves tangible assets that can be understood and managed.
- Halal Stocks: Invest in Sharia-compliant companies that are involved in permissible industries and have low debt-to-equity ratios. Focus on companies with strong fundamentals, good governance, and a history of steady growth. Many financial institutions now offer Sharia-compliant investment funds. For instance, the Dow Jones Islamic Market Index has consistently shown competitive returns over long periods, with its 10-year annualized return as of early 2024 often mirroring or outperforming conventional benchmarks while adhering to ethical guidelines.
- Commodities Physical Gold/Silver: Historically, gold and silver have served as stable stores of value and hedges against inflation. Investing in physical commodities can be a way to preserve wealth.
Education and Skill-Building
Invest in your own knowledge and skills, which are far more valuable than speculative ventures.
- Financial Literacy: Learn about personal finance, budgeting, saving, and ethical investing. Understanding how money works and how to manage it responsibly is a foundational skill for financial stability.
- Vocational Training: Acquire practical skills through vocational training or certifications that lead to stable employment or self-employment opportunities.
- Online Courses and Workshops: Leverage the vast resources of online education to learn new skills, whether it’s digital marketing, coding, content creation, or project management. Platforms like Coursera, edX, and reputable vocational schools offer excellent programs.
Savings and Debt-Free Living
A strong foundation of savings and a commitment to debt-free living are crucial for genuine financial security. Cleverbridge.com Reviews
- Emergency Fund: Build a robust emergency fund 3-6 months of living expenses to cover unexpected costs without resorting to interest-based loans. A 2023 Bankrate survey revealed that only 43% of U.S. adults could cover a $1,000 emergency expense from savings, highlighting the critical need for a strong emergency fund.
- Debt Avoidance: Actively work to eliminate interest-based debt credit cards, conventional loans as it erodes wealth and is impermissible. Focus on paying cash for purchases or saving up before buying.
- Budgeting: Implement a strict budget to track income and expenses, ensuring that you live within your means and allocate funds for savings and charitable giving.
How to Cancel Thechartingsociety.com Subscription
Based on the information available on Thechartingsociety.com, the platform heavily promotes “free access” to its Telegram group and community.
The website’s primary call to action is “JOIN MY COMMUNITY FOR FREE.” This suggests that there isn’t a traditional paid subscription model that users would need to cancel in the conventional sense, like a recurring monthly fee.
If there were to be a premium tier or any hidden subscription that one might accidentally opt into, the cancellation process would typically involve:
- Checking Account Settings: Log in to any registered account on Thechartingsociety.com if one exists beyond the Telegram link and look for “Subscription,” “Billing,” or “Account Settings” sections.
- Telegram Group Departure: For the primary free community, simply leaving the Telegram group would be the equivalent of “cancelling” participation. In Telegram, you can go to the group chat, tap the group name at the top, scroll down, and select “Leave Group.”
- Direct Contact: If you suspect you’ve signed up for something beyond the free Telegram group, or if a “premium community” does exist with a fee, the most direct approach would be to contact Charting Society’s support or administration directly. While the website doesn’t prominently feature a “Contact Us” page or email address, look for a footer link, or reach out through the Telegram group itself if an admin is available.
- Payment Processor: If you’ve provided payment information for any “premium” service, check your bank statements or PayPal/Stripe accounts for recurring charges and cancel them directly through the payment processor if the merchant’s cancellation process is unclear or unresponsive. This is a common method for stopping unauthorized or unwanted recurring payments.
Important Note: Given the emphasis on “free access” and the stated mission of providing free content, it’s highly probable that any cancellation would primarily involve disengaging from the free communication channels rather than a formal subscription termination. However, always exercise caution when providing any personal or financial information online.
How to Cancel Thechartingsociety.com Free Trial
Thechartingsociety.com primarily advertises “free access” to its community and trading setups. Revoltfitness.com Reviews
There’s no explicit mention of a “free trial” that transitions into a paid subscription on their homepage.
The model presented seems to be a perpetually free offering for their core community via Telegram.
If, however, a “free trial” for a premium service or content tier were to exist which isn’t clearly advertised on the main page, the cancellation process would typically follow these general steps:
- Review Sign-Up Terms: The very first step is to revisit the terms and conditions you agreed to when you signed up for the “free trial.” These terms usually outline the trial duration, what happens after the trial, and the exact steps to cancel.
- Check Your Account Dashboard: If you created an account on Thechartingsociety.com, log in and navigate to your “Account Settings,” “Subscription,” or “Billing” section. Many services provide a straightforward “Cancel Trial” button or option there.
- Look for Email Confirmations: Search your email including spam/junk folders for any confirmation emails from Thechartingsociety.com when you signed up. These emails often contain instructions on how to manage or cancel your trial.
- Contact Support: If you cannot find a clear cancellation option, reach out to Thechartingsociety.com’s support team directly. Look for a “Contact Us” link, email address, or support channel within their Telegram community. Clearly state your intention to cancel the free trial before it converts to a paid service.
- Monitor Bank Statements: Even if you believe you’ve cancelled, it’s prudent to monitor your bank or credit card statements for any charges from Thechartingsociety.com after the trial period. If a charge appears, dispute it with your bank or payment processor immediately.
Key Takeaway: The website strongly promotes “free access.” Therefore, the need to “cancel a free trial” in the traditional sense might not apply unless there’s a hidden or less prominent premium offering that was missed during the initial review. Always be vigilant about terms when signing up for anything, even if it’s advertised as “free.”
Thechartingsociety.com Pricing
Based on the explicit statements and repeated calls to action on its homepage, Thechartingsociety.com positions itself as a free service. The site repeatedly highlights “JOIN MY TELEGRAM GROUP FOR FREE” and “JOIN MY COMMUNITY FOR FREE.” Mike, the founder, states, “My goal is to empower as many people as possible by providing free access to proven trading strategies,” and “Charting Society is an open community to everyone, offering a place to learn, grow and earn from my winning trade set-ups, and one-to-one mentoring, free of charge.” Eventdecorshop.co.uk Reviews
This direct language suggests that there are no upfront or recurring subscription fees to access their primary offerings, which include trade signals and mentorship within their community.
What’s Included for Free?
- Trade Setups: Users are promised “exclusive access to winning trade setups and insider news” that they can “copy paste.”
- Expert Guidance: “Learn and follow a professional trader with a track record of success.”
- One-to-One Mentoring: Explicitly stated as “free of charge.”
- Community Access: Membership in their Telegram group and broader community.
- Chart Breakdowns Premium Community: The website also mentions, “Besides winning trade signals the premium members also get chart breakdowns to learn the strategies behind them. I provide step-by-step explanations and the logic behind each trade.” While this is referred to as a “premium community,” the website does not explicitly state a price for it on the main page, implying it might also be free or an unstated offer that comes later.
Potential Unstated or Indirect Costs/Revenue Models
While the direct pricing is stated as free, it’s common for “free” services in the trading signal space to have alternative revenue models:
- Broker Partnerships: Signal providers sometimes earn commissions or rebates from brokers when their users sign up and trade through specific links. This can incentivize higher trading volume, which may or may not align with the user’s best interests.
- Upselling to Higher Tiers Not Explicitly Priced: While not priced on the main page, the mention of a “premium community” could imply an eventual paid tier, or perhaps access to it is granted after fulfilling certain criteria e.g., minimum trading volume with a partner broker.
- Paid Educational Courses: Some free signal groups eventually funnel users into paid, in-depth educational courses or workshops.
- Affiliate Marketing: Promoting other services or products related to trading for a commission.
- Donations/Tips: While not a “price,” some free services encourage voluntary contributions.
Conclusion on Pricing: Based solely on the information provided on Thechartingsociety.com’s homepage, the core offerings are presented as free. This makes it an attractive proposition on the surface for those looking to explore forex signals without an upfront financial commitment. However, users should remain aware of potential indirect revenue models or future upselling that might occur once they are part of the community.
Thechartingsociety.com vs. Other Financial Alternatives
When considering Thechartingsociety.com, it’s essential to compare its high-risk, speculative approach with other more stable, ethical, and permissible financial alternatives.
The focus here is on contrasting a signal-based forex trading model with methods that align with principles of responsible wealth creation and preservation. Houseofaltair.com Reviews
Thechartingsociety.com Forex Signals
- Model: Provides trading signals and educational content, primarily through Telegram, encouraging users to “copy-paste” trades for daily profit.
- Risk Level: Extremely High. Forex trading, especially with leverage, can lead to rapid and substantial financial losses.
- Ethical Stance: Highly speculative, can border on gambling due to uncertainty and lack of tangible value creation. The emphasis on quick profits rather than sustainable, productive investment is problematic.
- Requires: Trust in external signals, capital for trading, willingness to accept high risk.
- Control: Limited control over trading decisions if simply copying signals, as the underlying strategy may not be fully understood.
- Long-Term Outlook: Unpredictable. While short-term gains are possible, consistent long-term profitability is challenging, and significant losses can occur at any time.
Halal Investing in Real Assets e.g., Real Estate, Sharia-Compliant Stocks
- Model: Investing in tangible assets properties or Sharia-compliant businesses that generate revenue through legitimate means.
- Risk Level: Moderate to Low depending on asset and market conditions. Risks exist, but they are generally less volatile than leveraged forex and are tied to real economic activity.
- Ethical Stance: Permissible and encouraged. Focuses on productive investment, shared risk, and ethical business practices. Avoids interest riba and impermissible industries.
- Requires: Research, understanding of market fundamentals, patience, and capital.
- Control: High. Investors make informed decisions based on their own analysis and risk tolerance.
- Long-Term Outlook: Generally positive. Over time, real assets and well-managed businesses tend to appreciate and provide consistent returns. For example, the S&P 500 representing large U.S. companies has an average annual return of about 10-12% over the long term, demonstrating the power of patient, diversified investing. Halal indices aim to mirror these returns while adhering to ethical guidelines.
Ethical Entrepreneurship & Skill Development
- Model: Creating value through providing goods or services, or developing valuable skills for employment or freelancing.
- Risk Level: Varies Moderate for starting a business, Low for employment. Risks are primarily related to market demand, business execution, or job market conditions.
- Ethical Stance: Highly encouraged. Earning through honest labor, innovation, and meeting market needs is a blessed path.
- Requires: Creativity, hard work, continuous learning, and perseverance.
- Control: High. You directly control your efforts, quality of work, and business decisions.
- Long-Term Outlook: Sustainable and empowering. Builds genuine wealth through productive means and develops transferable skills. A 2023 report by SCORE found that over 60% of small businesses are profitable within their first five years, indicating a solid foundation for growth.
Savings & Debt-Free Living
- Model: Disciplined budgeting, consistent saving, and avoiding interest-based debt.
- Risk Level: Very Low. Primarily risk of inflation eroding purchasing power if not invested.
- Ethical Stance: Fundamental for financial stability and adherence to financial principles.
- Requires: Discipline, financial literacy, and a clear budget.
- Control: Complete control over your finances.
- Long-Term Outlook: Builds a strong financial foundation, provides security, and enables future ethical investments. A 2023 study by Fidelity Investments showed that individuals who consistently save even small amounts early on can accumulate significant wealth over decades due to the power of compounding.
Conclusion: While Thechartingsociety.com offers a seemingly easy path to potential gains, its reliance on speculative forex trading and “copy-pasting” signals makes it a high-risk venture that can be financially detrimental. In contrast, halal investing in real assets, ethical entrepreneurship, and disciplined savings provide more stable, sustainable, and permissible avenues for financial growth and security, aligning better with long-term prosperity and peace of mind.
Frequently Asked Questions
Thechartingsociety.com is an online platform that provides forex trading signals and educational content, primarily through a Telegram community, aiming to help users profit from trading.
Is Thechartingsociety.com free to join?
Yes, based on its homepage, Thechartingsociety.com heavily emphasizes “free access” to its Telegram group and core community, offering trade setups and mentoring without stated upfront costs.
Who is Mike, the founder of Thechartingsociety.com?
Mike is the founder of Charting Society and claims to be a professional Forex trader with an “86% winning strategy backtested on over 12 years of data.”
What kind of trading does Thechartingsociety.com focus on?
Thechartingsociety.com focuses on Forex trading, which involves speculating on currency exchange rate movements. Shutterlyfabulous.com Reviews
Does Thechartingsociety.com guarantee profits?
No, Thechartingsociety.com’s disclaimer explicitly states, “Past performance is not indicative of future results.
Any trading strategies discussed on this site… are not guaranteed to yield profit. All trading strategies are used at your own risk.”
Is forex trading permissible?
Forex trading, especially with leverage and high speculation, can be problematic as it often involves elements akin to gambling or interest, making it generally discouraged due to its inherent uncertainty and lack of tangible value creation.
What are the risks of using Thechartingsociety.com?
The primary risks include significant financial loss due to the highly speculative nature of forex trading, the amplification of losses through leverage, and an over-reliance on external signals without true understanding of market dynamics.
Can I really “copy-paste” trades to make money?
While you can technically copy trades, simply “copy-pasting” without understanding the underlying strategy, risk management, and market conditions is extremely risky and can lead to substantial losses. Xepos.co.uk Reviews
Does Thechartingsociety.com offer one-to-one mentoring?
Yes, the website claims to offer “one-to-one mentoring, free of charge,” as part of its community offering.
How does Thechartingsociety.com make money if it’s free?
While not explicitly stated on the homepage, free signal providers often earn revenue through broker partnerships commissions, upselling to more advanced paid courses, or affiliate marketing for other trading-related services.
Are there any testimonials from Thechartingsociety.com users?
Yes, the website features video testimonials from individuals claiming to be “students” who have achieved positive results using their strategies.
What should I do if I lose money while using Thechartingsociety.com?
Thechartingsociety.com’s disclaimer states, “You are responsible for your own trading decisions,” and “Charting Society and Mike are not liable for any losses or damages.” If you lose money, it’s generally your own responsibility, and recovery through the platform is unlikely.
What are better alternatives to speculative trading for financial growth?
Better alternatives include ethical business and entrepreneurship, halal investing in real assets like real estate or Sharia-compliant stocks, continuous education and skill-building, and disciplined savings coupled with debt-free living. Bmstechnologies.co.uk Reviews
Is Thechartingsociety.com a registered financial advisor?
No, the website explicitly states that “Charting Society and Mike do not provide personalized investment advice,” and users are responsible for their own trading decisions.
How can I cancel my participation in Thechartingsociety.com’s community?
Since it’s primarily a free Telegram-based community, you would typically “cancel” by simply leaving the Telegram group.
If any other account or “premium” access was created, you’d look for cancellation options within those specific platforms.
Does Thechartingsociety.com offer a free trial?
The website primarily promotes “free access” to its community and offerings, rather than a specific “free trial” that converts into a paid subscription.
Where can I find the disclaimers on Thechartingsociety.com?
The disclaimers regarding trading risks and responsibilities are typically found at the bottom of the website’s homepage. Getnifportugal.com Reviews
Does Thechartingsociety.com provide financial advice?
No, they explicitly state that their content is for “informational purposes only” and they “do not provide personalized investment advice.”
Should I trust claims of “86% winning strategy”?
While a high winning percentage might be claimed, it’s crucial to remember that past performance does not guarantee future results, and trading always involves significant risk.
The context and parameters of such a strategy are often not fully disclosed.
What are some ethical ways to invest my money?
Ethical investing involves putting your money into permissible ventures that create real value, such as investing in Sharia-compliant businesses, purchasing income-generating real estate, or acquiring physical commodities like gold and silver, while avoiding interest-based transactions and speculative activities.
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