As you know, there are tons of scammers in the trading space, all just looking for people to rip off.
Now one thing they know is that some people are easier to get money out than others.
And they just LOVE this type of trader, because they make pretty easy targets.
When they run across this type of trader, they start licking their chops and thinking, “Yay! Fresh meat!”
You can almost hear them saying “Cha-Ching!” and in their minds giving each other high-fives.
Oh and one thing they love more than anything else?
This type of trader often won’t even know they’ve been had.
They’ll blame themselves!
Worst of all, it will happen to them again and again.
They ‘think’ that buying that new trading system will solve their problem, but it won’t.
In fact, in some ways it makes things worse because it distracts the person from pursuing the real problem and solution.
Plus it reinforces several wrong notions that are very counterproductive for the trader.
So what type of trader do the scammers just LOVE?
Opportunity seekers!
An opportunity seeking trader is one that has as is primary plan to just “make some money”
They don’t have much beyond that.
You see, there are basically two types of traders.
Opportunity Seekers and then there Entrepreneurial Traders.
Here is a table showing some of the differences.
Now since an Entrepreneurial Trader has a plan, they have a reference for making decisions.
When they are presented with a trading system, software or other ‘latest and greatest shiny thing’, they can very easily see if it fits with their plan or not.
They quickly reach a decision on whether to even bother finding out more, and if not, they save themselves TONS of time and mental energy.
Whereas the Opportunity Seeking Trader will be tempted.
All the scammers have to do is show how their system can “make lots of money”, push some emotional buttons, and then it can get really hard to avoid the tempatation – and they KNOW THIS!
This is how the Opportunity Seeking Traders get sucked in
After all, it looks like it will make money…
So they get tempted.
They mull and stew, and fret.
They may say “No”, but they’re still torn.
So they wind up spending all kinds of time, mental energy, and stress over it.
And way too often, they wind up dropping money that really isn’t helping them get any closer to the success they so desperately desire.
That’s why scammers love this type of trader.
They know that Opportunity Seekers are fairly easy targets.
And they are more than happy to take advantage
To find out about how to avoid this fate and how to take control of your trading future
Cheers
Brian
Yep Brian, been there done that,got a list as long as your arm of trading schemes ,managed schemes(managed me out of thousands $’s and hate to think of how much time and frustration.) etc etc.over around 4 years now I guess.Finally found ,I thought ,the perfect system, a managed trading scheme,made thousands over year and a half,trading FX,stocks &commodities,showed all the trades as they happened, great ROI 68 wins ,8 losses in that time,now cannot communicate in any way it seems,other than to monitor the “My Account” pages on their web site to see the trades still running.All the trades, up to the last 3, had all been placed perfectly ,volume size relative to the account balance with a steady profit incline the whole time.Now the last 3 trades were huge,lost and blew away 2 thirds of the account balance.No rhyme or reason to it at all, and no communication possible to get an explanation either now,something that had been no problem via Skype with the 2 trade managers running it for me,or e-mail or their “chat” window or even a “contact” link on their web site previously? Looks like another write off of most of what is left of my capital.This was the compromise with my inability to focus on my own goals,trading my own system,always getting diverted by the next “shiny thing”.It looked so good and solid for such a long time too?The other scams I lost money to never took very long to rip me off,so why would they run so long ,doing perfectly normal,wide ranging trades before screwing up big time so suddenly? It was based on a 25% commission only on any profits I made, so I was happy to make profits at all, and get 75%,better than 100% of nothing doing it myself, I thought.That is it for me, I hope it helps someone else Brian?