Would you guys pay for winning advice?

It would be great if you could take 30seconds to answer the following question in the poll.

Would you guys pay for investment/trading advice on the condition that if the information weren't profitable you would receive double your money back?

Poll here: Poll - EasyPolls.net

I voted yes but I'm supposing it's purely hypothetical.
I couldn't posibly imagine that it could ever happen.
And again, I would never ever pay for advice.

mrkmcknz said:

It would be great if you could take 30seconds to answer the following question in the poll.

Would you guys pay for investment/trading advice on the condition that if the information weren't profitable you would receive double your money back?

Poll here: Poll - EasyPolls.net

Click to expand...

Why don't you give me money and I will give it back if I am profitable? I mean why I should I accept the risk?

pboyles said:

Why don't you give me money and I will give it back if I am profitable? I mean why I should I accept the risk?

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It's a pure hypothetical situation I'm talking about here, just looking to gauge a reaction.

I think there's plenty of fools that would fall for it. You just need to make some ridiculous claims about how much they can make and they'll be all over it.

mrkmcknz said:

Would you guys pay for investment/trading advice on the condition that if the information weren't profitable you would receive double your money back?

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Double the money back of losses as a result of taking said advice or double the money back that I pay for the advice?

I voted No because even if I did want advice, I suspect there would be some way whoever I was paying for that advice would show that it was profitable when it was not. And secondly I wouldn't have much faith in their ability to pay, because where would the repaid money come from? They would just shut up shop and call in the administrators. Just ask clients of Rob Wilson....

No, because you can't really guarantee that the advice I was given would be winning advice, past performance is no guarantee of future performance.

You can't tell me what the market will do tomorrow with 100% certainty, if you could then I would pay, but I know that nobody can. In reality I'd just by paying to hear someone else's opinion, no thanks.

If you have winning advice why not just take easy street and keep it to yourself?

Make plenty of money with none of the hassel.

Never paid for anything like this and never will.

mrkmcknz said:

It would be great if you could take 30seconds to answer the following question in the poll.

Would you guys pay for investment/trading advice on the condition that if the information weren't profitable you would receive double your money back?

Poll here: Poll - EasyPolls.net

Click to expand...

I’m sure I’m missing something here but it depends on how much I have to pay for the advice and whether I had to prove that I actually acted on the advice. Otherwise it is nothing more than betting on a coin flip and I enjoy gambling now and then.

So, I pay £50 to someone who advises me to go long on the FTSE100 at a certain level but I don’t actually trade it, then I lose £50 if works out and win £50 if it doesn’t...is this correct?

It wasn't so much as a get rich quick kind of scheme.

But in the situation to avoid the IFA's and other advisers, the situation would be you only pay for advice that makes you money.

mrkmcknz said:

It wasn't so much as a get rich quick kind of scheme.

But in the situation to avoid the IFA's and other advisers, the situation would be you only pay for advice that makes you money.

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To be honest, I think your question is too vague or broad. You are using the word 'advice’ when I think you mean (and most people are interpreting it to mean) stock tips or trading signals of some kind. Most people here have bought a trading book or video/DVD that advises them on how to make money in the markets without directly giving buy and sell signals. They probably gladly paid for them without the benefit of a refund.

So, to clarify, do you mean pay for direct BUY and SELL recommendations?

I have paid for advice in the past*, but the amount I paid was nothing in relation
to the amount invested or potentially lost. So getting double the money I paid for
the advice would do nothing for me.

However getting the money back I lost in the investment would get my attention!
No need to be double.

* I paid a couple of independent investment advisors to double check investments
I was considering. Warn me off if they found some reason to not invest. I learned that
they look at the same financial reports and so forth as I do. And that they are no better
at predicting the future than I am.

Davidee said:

No, because you can't really guarantee that the advice I was given would be winning advice, past performance is no guarantee of future performance.

You can't tell me what the market will do tomorrow with 100% certainty, if you could then I would pay, but I know that nobody can. In reality I'd just by paying to hear someone else's opinion, no thanks.

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Agreed. I would not pay.

Although to reject advice/not need advice is to say your knowledge is flawless.

You don't know what you don't know. Jaharis window.

Maybe this is why there is a market place as many uneducated fools make wrong decisions that the educated big boys wouldn't.

Has anyone ever met a successful day trader (despite what they say!)? I haven't...

S.

mrkmcknz said:

It would be great if you could take 30seconds to answer the following question in the poll.

Would you guys pay for investment/trading advice on the condition that if the information weren't profitable you would receive double your money back?

Poll here: Poll - EasyPolls.net

Click to expand...

"Sex Frogs $20 ... Double your Money Back Guarantee!"

A young lady went to her local pet store in search of an exotic pet.

She spotted a box full of frogs with a sign that said "Sex Frogs $20.

Complete instructions included. Double Money Back Guarantee!" The girl looked around to see if anyone was watching her and whispered softly to the man behind the counter, "I'll take one."

As soon as she closed the door to her apartment, she read the instructions

1. Take a shower
2. Splash on some nice smelling perfume
3. Slip into a very sexy teddy
4. Crawl into bed and place the frog on the bed

Following the instructions exactly, she quickly got into bed with the frog. Nothing happened.
The girl was totally frustrated and quite upset. She reread the instructions and noticed at the bottom of the paper it said, If you have any problems or questions, please call the pet store."

She called and was told by the salesman, "I had some complaints earlier today. I'll be right over" Within five minutes he rang doorbell and was welcomed in. "See, I've done everything according to the instructions and the damn thing just sits there," said the frustrated girl.

The salesman picked up the frog, stared directly into its eyes and said ..."Listen up frog. I'm only going to show you how to do this one more time!"