Exposing the Slime of Stock Trading
I've had the opportunity to meet a lot of different stock trading experts during my fifteen year career as a stock trader. Most are great, but as with any profession, there are those that really give it a bad name. Unfortunately, they are the ones that can burn a new investor and turn them off from a fantastic pursuit for life. In the hopes of warning you away for some of the slime before you go through what I did, here are a few of my experiences, and a couple suggestions for avoiding the encounters yourself.
I'll never forget my worst experience with a stock trading service, the ultimate in slime and an incident that changed my life. It, finally, taught me the important lesson that some people are just in it for themselves, regardless of who they hurt along the way. It also made clear to me that I would have to be different than that, and cemented my personal creed that if a business opportunity requires me to hurt someone else, I just pass it up.
The stock trading service I was subscribed to provided a list every day with stocks that they recommended we subscribers buy or sell short. This is fairly typical for a stock trading service, as were the impressive statistics they showed me to support that the stocks they chose would perform as predicted. I was sold and signed right up.
But, unlike many others, this particular service had an ulterior motive I was not aware of at the start. Turns out, the folks running the service were making recommendations to their subscriber group for the sole purpose of manipulating the prices for their own profits.
To illustrate, the owners of this service would buy IBM stock through their account. The next step was to recommend that the entire subscriber group buy IBM. All 3000 + subscribers started purchasing IBM, and the stock price would increase from the activity. When the slime was satisfied that the price had increased enough for them to make the profit they desired, they would cash in.
I couldn't believe that this service was using its subscribers to front run their own orders. Their goal wasn't to assist and help the subscribers as advertised, but rather to make their own profit and get out. Not only was this wrong, but the subscribers were paying them to make it happen!
Now true, most stock trading services would never conduct business in that manner. But many do act in an equally slimy manner by trying to convince the new trader that stock trading is much too dangerous to do alone. They work hard to convince you that in order to be profitable trading stocks you must subscribe to their expensive service and let them do all the work for you.
Don't get me wrong, stock trading is tough at the beginning, until you find a process that works for you. But any service who tries to convince you that you can never know enough to do it yourself at some point is just trying to cash in on your monthly subscription fees. And their systems are generally one size fits all and won't consider your personal risk tolerance or trading preferences.
There will always be some investors out there that don't want to trade on their own, and for these folks the monthly stock trading service might be the way to go. They will receive solid trade recommendations that are right some of the time. The return is usually tolerable, but I have found that if you can find a system that works for you and your risk level, you will realize higher returns in the long run and a more satisfying experience.
You will have to do some probing to find a resource to help you get on your feet without controlling your trades. Slime free resources are available, however, and you will be happy with the outcome as their goal will be to help you help yourself become successful at stock trading. From a successful day trader to a future one, I am sure you will be pleased the results of finding and working with a reputable resource. - 23159
I'll never forget my worst experience with a stock trading service, the ultimate in slime and an incident that changed my life. It, finally, taught me the important lesson that some people are just in it for themselves, regardless of who they hurt along the way. It also made clear to me that I would have to be different than that, and cemented my personal creed that if a business opportunity requires me to hurt someone else, I just pass it up.
The stock trading service I was subscribed to provided a list every day with stocks that they recommended we subscribers buy or sell short. This is fairly typical for a stock trading service, as were the impressive statistics they showed me to support that the stocks they chose would perform as predicted. I was sold and signed right up.
But, unlike many others, this particular service had an ulterior motive I was not aware of at the start. Turns out, the folks running the service were making recommendations to their subscriber group for the sole purpose of manipulating the prices for their own profits.
To illustrate, the owners of this service would buy IBM stock through their account. The next step was to recommend that the entire subscriber group buy IBM. All 3000 + subscribers started purchasing IBM, and the stock price would increase from the activity. When the slime was satisfied that the price had increased enough for them to make the profit they desired, they would cash in.
I couldn't believe that this service was using its subscribers to front run their own orders. Their goal wasn't to assist and help the subscribers as advertised, but rather to make their own profit and get out. Not only was this wrong, but the subscribers were paying them to make it happen!
Now true, most stock trading services would never conduct business in that manner. But many do act in an equally slimy manner by trying to convince the new trader that stock trading is much too dangerous to do alone. They work hard to convince you that in order to be profitable trading stocks you must subscribe to their expensive service and let them do all the work for you.
Don't get me wrong, stock trading is tough at the beginning, until you find a process that works for you. But any service who tries to convince you that you can never know enough to do it yourself at some point is just trying to cash in on your monthly subscription fees. And their systems are generally one size fits all and won't consider your personal risk tolerance or trading preferences.
There will always be some investors out there that don't want to trade on their own, and for these folks the monthly stock trading service might be the way to go. They will receive solid trade recommendations that are right some of the time. The return is usually tolerable, but I have found that if you can find a system that works for you and your risk level, you will realize higher returns in the long run and a more satisfying experience.
You will have to do some probing to find a resource to help you get on your feet without controlling your trades. Slime free resources are available, however, and you will be happy with the outcome as their goal will be to help you help yourself become successful at stock trading. From a successful day trader to a future one, I am sure you will be pleased the results of finding and working with a reputable resource. - 23159
About the Author:
W. Alan Gay has been a stock trader and mentor for fifteen years. His free report describes Alan's voyage to becoming successful at trading stocks and gives useful tips he and his students have used to consistently trade successfully. Click to obtain a free copy of his report and learn more about how you could be trading stocks successfully in as little as two weeks.
posted by X - Men @ 3:13 AM
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