scams or not

mikewhite

Newbie
1 0
there are some sites on line that advertise a system that consistantly generates 15-20% profit a day. Do they exist? Is it worth having a look at what they have to say at least or should you just stay away and work on your own systems?
I'm sure many of you like me have paid good money for information that promised the world but did'nt deliver. Do any of you still look at everything or do you stick to your guidelines?

Let me know.
Cheers
Mike White
 

Trader333

Moderator
8,502 881
Ask for a free trial and if they wont give one then dont believe them. If they are that good then they will have the confidence to give a free trial knowing that it delivers on its promise.


Paul
 

nine

Senior member
2,038 506
I think they are mostly scams ... in the if its hard to believe its not true mold ... but I wouldnt give a free trial if I was them. I have let two traders have little bits of software I custom built for them on the understanding that they would pay up when the software worked. LOL. Guess what - time to rachet up the cynicism one level.
 

Mayfly

Established member
514 28
I don’t know about free trials, I’m amazed these guys can be arsed to get out of bed in the morning.

To put this in perspective, a quick back of the envelope calculation shows that a 15 percent daily ROI with a £10.00 (ten pounds) stake gives you the following:

30 days = £662
40 days = £2678
50 days = £10,836
60 days = £43,840
70 days = £177,357
80 days = £717,508

E&O are all mine.

I guess it depends on what they mean when they say "consistent"? :)

HTH

Cheers

Mayfly
 

des44

Well-known member
281 8
I have an easy answer for this by means of a question. If you had a system that generated 20-30% a day in profits would you need any other source of income such as a website to sell things like "systems?" Obviously the answer is NO. Besides the point, why would any intelligent individual let the world know about their system that makes them 20-30% each month?

I promise each of you, when I get my system paying me 10% per day consistently, you will never hear from me again. *wink*

d-
 

Tabasco

Junior member
35 0
I believe these systems are just scams. If these systems can turn 10$ to 717,508$ in 80 days, what about starting with 10,000$ capital??? how much will i get after 80 days??
Most probable these systems are made by losers who lost all their money while trading and they are trying to recover part of their losses by selling lies
 

694pj812

Junior member
13 0
Re Boiler rooms, anyone heard of Morgan Financial Holdings with offices in Tokyo New York?, anyone been caught by this firm?
 

anley

Senior member
2,730 229
If you use no common sense then they're NOT scams.

However, if you use just 1% of common sense then you'll know with 100% accuracy that they're all 100% scams.

C'mom people WHERE IS YOUR COMMON SENSE???

This is not aimed at anyone writing on this thread but I'm slowly coming to the conclusion that many of these scammers are right to earn their money - if people are so stupid to believe their claims then do they really deserve to hold onto the money they have?
 

everyonerich

Experienced member
1,109 43
there are some sites on line that advertise a system that consistantly generates 15-20% profit a day. Do they exist? Is it worth having a look at what they have to say at least or should you just stay away and work on your own systems?
I'm sure many of you like me have paid good money for information that promised the world but did'nt deliver. Do any of you still look at everything or do you stick to your guidelines?

Let me know.
Cheers
Mike White
just follow the 'leader'

for eg:

current richest trader are/always making their decision on their own, not depending on ea/system.

so you should do the same


err... btw.. if anyone of you know who got rich by completely depend on system/ea let everyone know here lol
 

Ph1lly

Active member
118 20
Hi Everyone,

A while back I watched a fantastiv Video on Trade2win about a Scammer cold calling and getting a very commical response making out to be calling a murder scene, I cannot locate this video, anyone know where I can find this?

Cheers


Phil
 

ian23

Active member
179 9
The only system that works and will make you money in the end is a good money management system. There is no system that can generate consistent returns in the market over long periods of time because the market is either range bound or trending and sometimes just choppy. So effectively you need 3 systems but the problem is most of the time you do not know which system to use because one can only know in which state the market is in after the fact.
 

fernanj

Junior member
32 3
there are some sites on line that advertise a system that consistantly generates 15-20% profit a day. Do they exist? Is it worth having a look at what they have to say at least or should you just stay away and work on your own systems?
I'm sure many of you like me have paid good money for information that promised the world but did'nt deliver. Do any of you still look at everything or do you stick to your guidelines?

Let me know.
Cheers
Mike White
Hi Mike - I dont write as much as I should here, however common sense must dictate here, in my case, I learnt the hard way and painful way (through experience), and became victim to many a "snake oil" sales pitch.:(

Reflecting on my experience, if anyone tells you that they have a system that makes money all the time and every time, then I have only one piece of advise for you...don't walk away from them - RUN!

Take a peek at my website, apply the required decipline and loose less!

all the best in your trading;)
Stock Market Trading, a Powerful Profiting Strategy
 

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