How Can I Distinguish Between Scams and Reputable Vendors?

This is a discussion on How Can I Distinguish Between Scams and Reputable Vendors? within the New to Trade2Win forums, part of the Reception category; If this was easy, there would be no Madoffs ! Even the Priests were recommending him not because they were ...

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Old Dec 2, 2012, 5:12pm   #17
Joined Jun 2009
Re: How Can I Distinguish Between Scams and Reputable Vendors?

If this was easy, there would be no Madoffs ! Even the Priests were recommending him not because they were part of it but because M had first "seduced" them into believing him ! But a first step should be to ask for details of finances and backgrounds of Management personnel. It is more about reading between lines and listening to what is "not being stated". And Pray to God to save youself from on-ground Sharks !
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Old Jul 27, 2013, 6:12pm   #18
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Re: How Can I Distinguish Between Scams and Reputable Vendors?

Quote:
Originally Posted by mtt View Post
To distinguish between scams and reputable vendors read investimonials.com.
If you think that investimonials.com is not manipulated by shills, you are one heck of an optimist.

There is only one way to do your DD and that is by using your own brain and general principles of critical thinking. There is no substitute for that.

Look for the results. No results means that you can move on. If there are some, start investigating in earnest. That should save you a lot of time and money.
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Old Jul 27, 2013, 10:10pm   #19
 
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Re: How Can I Distinguish Between Scams and Reputable Vendors?

If it sounds too good to be true, it is. I have even fooled myself and wasted time pursuing many things that are too perfect. Trust only yourself, have faith in others. Don't let your faith be your eyes; keep them in your head.

Cheers
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Old Jul 31, 2013, 10:26am   #20
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Re: How Can I Distinguish Between Scams and Reputable Vendors?

Choosing to always trade in the regulated broker with a well reputed government agencies like that of in US, UK and Australia would be the best thing to do for the traders.
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Old Jul 31, 2013, 11:37am   #21
 
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Re: How Can I Distinguish Between Scams and Reputable Vendors?

"..... The powers that be don’t like serious fraud, evidenced by the fact that Bernie Madoff is currently serving a 150 year jail term at the Metropolitan Correctional Center, New York. ....."

With good behaviour, he'll be out in 110.
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Old Jul 31, 2013, 12:44pm   #22
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Re: How Can I Distinguish Between Scams and Reputable Vendors?

Devils advocate for once........

so supposing a moderately half decent system (c'mon they exist) just has a bad run in the markets due to the whipsaw nature of that period

would that entitle someone to SCAM the Author ?.........

N
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Old Jul 31, 2013, 12:45pm   #23
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Re: How Can I Distinguish Between Scams and Reputable Vendors?

Quote:
Originally Posted by numbertea View Post
If it sounds too good to be true, it is. I have even fooled myself and wasted time pursuing many things that are too perfect. Trust only yourself, have faith in others. Don't let your faith be your eyes; keep them in your head.

Cheers
yep - we've all been there and sometimes I have paid the price to peek and see what the scam was ..............as many are truly beautiful and professional in their own way ........

N
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Old Nov 14, 2013, 4:40pm   #24
 
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Beware snake oil.

There are thousands of websites and companies offering trading systems with seemingly fantastic profit opportunities. None of these are real. For two reasons:

1). If you discovered how to make geese lay golden eggs, would you really tell anyone?

2). The market is, in mathematical terms, a Complex Adaptive System (CAS) (see Wiki) which means that if anyone starts making excessive profits then the market will adapt. In a nutshell, if you find that buying IBM at the open consistently makes profit, then before long the people from whom you bought the shares will stop selling them to you because they consistently make a loss.
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