You meet many people as a novice trader, trying to learn from the 'experts'. Pick up a tip here and there from someone who's been there, done that, right?
What you may not realize is how many charlatans there are. Some inadvertently dispensing false tips or ill advised recommendations, others flat our scammers, trying to make a buck off unsuspecting students of trading.
Some of these pundits stumble on a successful trade and claim they found the holy grail of sorts, or at least that is what they lead us to believe. We then buy into their stories, handing over thousands of dollars before we realize we're being duped.
I sometimes conduct surveys and, not surprisingly, most people admit they've been exposed to such trickery. No wonder they hesitate in subscribing to our services! The sad part is that when they do find something of value, they often hesitate and miss it.
You tell if an advisory service is authentic. Just ask:
1) Does the presenter trade his/her strategy?
Demand the proof.
2) Are all trades shown or only the successful ones?
Make sure you see it all: good, bad & ugly.
3) How long have they been in the business of training/trading?
Experience matters in this industry known for brevity.
4) Do they make their money trading or training?
It should be trading; accept nothing less.
5) Is their system easy to understand or confusing?
Remember the saying: BS baffles brains. Keep it simple.
6) Does it truly make sense and can you explain it to a child?
The market is not rocket science.
7) Are their results consistent?
Any great system must be repeatable.
8) Are they accessible and accountable?
Do they satisfactorily answer your queries promptly?
These are but a few of the questions.
The business of trading training seems to be wide open hunting season. Buyer beware all the way. Make sure you are satisfied with your coach before investing a nickel.
But when you find one that has the right answers, go for it!
Need to know more about us? Contact us for details.
~ Hugh
