Everybody, it seems, has an investment trading system these days. There's so much baloney in the trading system marketplace that it makes you want to follow Mark Twain's advice about how to double your money: "fold it over once and put it back in your pocket." How do you separate the few legitimate investment trading systems from the scamsters? Based on research and experience, here are the "Top 11 most common ways to spot trading system scams".
The rules :
- Think Often, they will start "improving" the system, or stop using it altogether. Especially for beginners it is a big help to gain confidence in the system if there is a winning percentage of 65% or more.
- Avoid "hypothetical" trading systems - systems that have only been backtested, never actually traded in the market Insiders, like the proverbial "Them", as in "They say…" This is almost always a sign that nonsense is being peddled.
- Know that there are very few secrets. One popular website sells a very costly manual on a technique they claim has "never before been revealed to the public." If you read their marketing hype, you'd think that they regularly rubbed shoulders with the biggest movers and shakers in the market. What they don't bother to mention is the name of one single real person who uses this "powerful, foolproof system for generating consistently high profits in the seven figures annually." Let's face it: if there even was such a thing as a "never before revealed secret system the pros use", why is it being revealed now, to you, by this seller?
Notes :
- Do your due diligence.
- Find a simple, straightforward trading system with a real history of success that doesn’t require you to mortgage the family farm to get started.
- Make your trading program yield the wealth-building results you’re looking for instead of pouring your money into the scamsters’ pockets.
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