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
shuttle to Midway Beardstown .. Lockport Chicago limo O’HareIt depends on your level of understanding of the market... Read More
If you go to Haiti or other places in the... Read More
It has often been said that there is only two... Read More
This is a guide to the different types of mutual... Read More
A PEG ratio cannot be used alone but is a... Read More
A recent cartoon in my daily newspaper showed two guys... Read More
After some forty years of banking and investments, I retired... Read More
On Friday or Saturday evening my wife gets a movie... Read More
Using Swing Trading Strategies and Technical Analysis when Trading Stocks... Read More
Stock investment advice is easy to find. Do you get... Read More
It is finally catching up with them. The brokerage companies... Read More
I was recently interviewed for a press release through a... Read More
Since I can remember, and that's a long time ago,... Read More
It's about time someone spoke the truth concerning outsourcing. The... Read More
We all know that emotions control every decision that an... Read More
On Monday, November 25, 2000 Investor's Business Daily listed on... Read More
All of the talking heads have been telling us that... Read More
Let's go into the details of why non-indexed mutual funds... Read More
The spring-loaded rat catcher is the ultimate low-tech device invented... Read More
Intervention. Now don't let that big word scare you. The... Read More
One of the basic laws of physics is that a... Read More
Where is the beef? Or maybe it should be where... Read More
If you have been dealing with mutual funds for any... Read More
Let's assume that you want to make some serious money... Read More
As I said in Part I everyone in the insane... Read More
Green Bay Hummer H2 SUV rentals ..Let's first define insanity. It is doing the same thing... Read More
Mutual funds were created with the idea that one person... Read More
After some forty years of banking and investments, I retired... Read More
Even if you don't own any of their stock or... Read More
If you're a normal human being, your need to feel... Read More
You remember (they show it on TV every year) the... Read More
For years investors have been taught to look into the... Read More
If it walks like a duck, quacks like a duck... Read More
The fight continues to rage among traders who use technical... Read More
There are formulas for just about everything, but it has... Read More
Most people think the stock market is a zero sum... Read More
How many times has this happened to you? You're at... Read More
There are so many kinds of work that needs to... Read More
I love roller coasters. The steeper the better. High and... Read More
The stock market often closes a week in the middle... Read More
You have decided to buy some stock or mutual funds,... Read More
Has your broker been calling you recently with the "great... Read More
I receive emails from Morningstar. This company provides statistics and... Read More
Now that you have some money burning a hole in... Read More
Wall Street has been preaching the doctrine of Buy and... Read More
Professional stock options traders use the term lean to refer... Read More
As one of my regular readers you know I have... Read More
Sidney felt sick as she looked at her latest OptionsXpress... Read More
Cat or dog? Maybe Zebra. Shucks, I don't know, but... Read More
First let's see what protectionism is. According to Mr. Webster... Read More
Stocks & Mutual Fund |