Well if you have been trading forex as long as I have been trading it (+3 years now) and also if you started form the scratch without a mentor you would have come across your own share of forex scams as much as I have, this includes; system sellers, robot sellers and even some of the forex brokers. It seems like everyone is after your money and are ready to do all it takes to con you out of it. Their attention is not directed at you making money from forex but at them profiting from your ignorance.
I wouldn't be making a long speech but after a few episodes with some of this and that I have arrived at two ways to determine if you are being fooled or if that is the real deal:
1) No one (and I repeat no one) would sell you a system or robot that has the potential of making more than 1000 pips a week for just $99! Even only a few would be ready to part with it at $999. I would begin buying into the idea if the price started running into thousands of dollars. Most of the best traders out there would like to keep you permanently in their clutches by keeping you ignorant so they offer to manage your account for you instead.
2) If you come across this then it would be rare and you must have been favoured to find them. Genuine traders who would give you systems that worked for them at no cost. Now the thing is that they have perfected trading with these systems and have modified it almost to perfection so the are ready to part with the initial versions of these systems they traded with.
So the next time you are about to buy into a system or a product said to make thousands of pips per week (or even per day!), make sure you ask yourself, is it free or is it costly? If it is neither of these then most likely it might be a scam!
I wouldn't be making a long speech but after a few episodes with some of this and that I have arrived at two ways to determine if you are being fooled or if that is the real deal:
1) No one (and I repeat no one) would sell you a system or robot that has the potential of making more than 1000 pips a week for just $99! Even only a few would be ready to part with it at $999. I would begin buying into the idea if the price started running into thousands of dollars. Most of the best traders out there would like to keep you permanently in their clutches by keeping you ignorant so they offer to manage your account for you instead.
2) If you come across this then it would be rare and you must have been favoured to find them. Genuine traders who would give you systems that worked for them at no cost. Now the thing is that they have perfected trading with these systems and have modified it almost to perfection so the are ready to part with the initial versions of these systems they traded with.
So the next time you are about to buy into a system or a product said to make thousands of pips per week (or even per day!), make sure you ask yourself, is it free or is it costly? If it is neither of these then most likely it might be a scam!
Less is more...