Several times each month I am solicited by various market touts who have a newsletter service, faxes or emails they are willing to send me to make me rich. That sure is nice of them.
The first thing that pops into my head is if this system is so good why are they willing to share it for the lowly sum of $19.95 per month. Of course, some of them will move the decimal point to the right and increase that front number, but not to worry - it is sold with a money back guarantee!
If you should desire to put your toe in the water here are some questions you might want to ask first:
1. Are the figures shown actual trades or is this hypothetical? If it is hypothetical you can stop right there. Total BS.
2. What is the minimum size account I need to take all your signals?
3. Do you use stops?
4. Is slippage and commission figured in?
5. If all trades were made for the past year what was the starting amount and the amount in the account at the end of the year?
6. What was the largest single loss?
7. What was the largest continuous drawdown (loss)?
8. How many winning trades? And average profit?
9. How many losing trades? And average loss?
10. Are you willing to tell me a few clients who are using your method with their permission, of course? (Get references.)
It has been my experience that you will not receive an answer or you might get a form letter saying their method is proprietary information and cannot be given out. Hogwash. We know where you can put that letter.
You might ask to see their model account. Surprisingly the Securities and Exchange Commission does not require these hucksters to maintain such an account. I'd like to see such a regulation passed; there would be a lot less of these methods and systems sold as most of them would go broke. Before you send any money please make them prove with additional documentation exactly what they are selling.
Al Thomas' book, "If It Doesn't Go Up, Don't BuyIt!" has helped thousands of people make money and keep their profits with his simple 2-step method. Read the first chapter at http://www.mutualfundmagic.com and discover why he's the man that Wall Street does not want you to know.
Copyright 2005
no-contract cleaning service Mundelein ..What can I expect to make my first year of... Read More
One of the main reasons many of us get into... Read More
Everything you invest in has risk so you want to... Read More
In his wonderful book, 'Multiple Streams of Income', best selling... Read More
I was devastated!I just couldn't believe it. I was 10... Read More
I love roller coasters. The steeper the better. High and... Read More
In today's volatile and confusing stock markets everyone is searching... Read More
I often hear from people, "I don't trade. I invest.... Read More
Most stock traders know that momentum trading can be a... Read More
THERE'S SOMETHING TO BE SAID FOR standing firm in the... Read More
How can you dispel an illusion unless you look directly... Read More
Because you don't feel too sure about which stock or... Read More
You must take the time once a month to review... Read More
We all know that emotions control every decision that an... Read More
I cringe every time I hear a novice investor tell... Read More
How often have you come across an advertisement or e-mail... Read More
One of the great "secrets" of successful people is discipline... Read More
Whenever I see mutual fund comparisons in the trade publications... Read More
I use the P/E ratio as a secondary indicator for... Read More
As GuruFocus updates the stock buys and sells of gurus,... Read More
Just about now everyone is confused as to which way... Read More
Let me start by saying that...Most online brokers do not... Read More
Minority Report the movie may not be far off if... Read More
Options trading can increase the profits you make when trading... Read More
Every day I hear someone on CNBC proclaim that "this... Read More
maid service near Glenview ..Last time we looked at the real performance of the... Read More
Let me start by saying that...Most online brokers do not... Read More
The thinking process of the brain relating to the... Read More
I continually hear from economists, talking heads, other market letter... Read More
We have two candidates for president that have really different... Read More
I would like to share with the reader an article... Read More
Ever have one of those sample boxes of candy? Each... Read More
Yesterday I received my monthly issue of MONEY magazine. This... Read More
Stocks breakout from properly formed bases everyday but many investors... Read More
Many people would like to diversify their portfolios to expand... Read More
Reach in your pocket and take out that big roll... Read More
First let's see what protectionism is. According to Mr. Webster... Read More
When you become interested in a stock or mutual fund... Read More
If you have talked to a stock broker or financial... Read More
The stock market has not been very kind to your... Read More
THERE'S SOMETHING TO BE SAID FOR standing firm in the... Read More
Wall Street has been preaching the doctrine of Buy and... Read More
That sounds like good advice doesn't it? Don't lose all... Read More
Before you buy another car you walk around the lot,... Read More
If you're a normal human being, your need to feel... Read More
As GuruFocus updates the stock buys and sells of gurus,... Read More
Before they go over the cliff to their destruction these... Read More
One of the basic laws of physics states that a... Read More
The date October 13, 2000 will forever be embedded in... Read More
Someday you may want to retire and continue to live... Read More
Stocks & Mutual Fund |