SCAMS & Other Sinners - lessons here !

NVP

NVP

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Hey all

We have all been taken for a ride at some point in our life....be it making money schemes or whatever ..........thats the game we move in :cool:

the amount of financial and emotional pain will vary.... but I hope the lessons learnt stand you in good stead for the future......

So no one gets off scot free.....and if you think you have ..then look again ........and if a clean past - then your time will come I can assure you unless you intend to live in a darkened cave for the next 50 years :p

Its not "if" ....its "when !"...........

so each day I log in here and still see the stories...its a sad situation

so reaching out to everyone here - what advice (or experiences and lessons learned) can we give to people to limit their exposure and risk to such activities ...........from medeochre Vendors and false promises to absolute Scam maestros :smart:

N


NEWBIES - Save this thread and look at it again when you are tempted to buy something in the future ........it may save you some money :smart:
 
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Me First

ok I've been Taken a few times but with minimal loss of money

70's / 80's 90's
Various Horseracing syndicates....and a few Boiler room scams
A few quid here and there but I should have known better from my Gambling/bookmaking family Background
RULE number 1 ....Trust no one ...not even family , friends and aquaintances who try to get you in on a sure thing ......make your own decisions and never never be swayed by emotional ties

90's
a Network marketing scheme ..........as in above I was dragged in by my best friend who would qualify for bonuses by selling cr*p stuff to me..then I was required to fdo the same ..........one of the better companies at the time ..and I managed to stop my cheque after waking up in a sweat....thank god for cheques as a Debit card would have had me in a serious loss position as it folded inside 2 months later (Merchandise America if you want to know..those presenters on stage could raise the dead with their pitches !)
RULE number 2.........if something sounds to good to be true it probably is....selling Cr*p to people for commission who then sell Crap to other people for commission lasts about as long as a tennis match !

90's to present......
I have spent a lot of money on training and education in Forex and Generic Trading over the years......most of it pretty well spent and I learned a lot .....I am lucky in that I never bought the "$000's of Dollars now and buy the black box we will teach you everything " system but was very tempted in my early years ......

Why ....because these companies are GOOD........real GOOD .....the BEST...at doing this stuff

Timeshare, holiday schemes,double glazing , Ambulance chasers , Nigerian Lotteries.........

you are laughing right ?

you would never be taken in these things right ?

thats great ..........until you get taken

PONZI ?
Madhoff ?

do you realise how "smart" the people duped were ?....a lot smarter than us I can assure you ......but they got taken

RULE 3 ........never let your guard down as they are always at your door......trying to find your weak spot .....and the smarter you think you are the easier the right player will flick your switch

So to all newbies at T2W and focusing on Trading and Broker stuff here .........follow the rules above and if you are not sure dont do anything you feel unsure about ...or at least until you have been a few rounds in this business

If you have been approached to join or buys something - DONT !

when YOU approach a potential System or Broker check out the track record and credentials first

Decent things cost more than Cr*p things Generally - pay the Fecking spread as the Broker will possibly be there long after others

And as for Black box systems , marketeer traders , Educators , Training houses , money back brokerages etc etc

DONT DO IT ........you can learn your way in this business without them - trust me

just spend time researching and learning the business for 6m to a year minimum and go from there

N
 
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I think the majority will not / cannot be diverted away from being victims of scammers in the long run, no matter what the warning message, or how long you try to convince them. The emotion of 'hope' is too powerful. On recent thread one guy said 'thanks to this forum for warning me re waste of time rip off courses', and yet not long later goes to an even more dodgy outfit of trading courses, where they hadn't even bothered to turn up.
So it maybe temporary respite, but will not last long. Perhaps that's why the scammers just reinvent themselves, the mailing list of 'scammees' (those that have been scammed) is too tempting an opportunity for free money to turn down.
Maybe its an inherent part of scammees psychological makeup, no idea, but spending so much time here warning people imo doesn't make much difference.
 
and now some examples...sorry to those who bit....

the clue is in the video
http://www.trade2win.com/boards/first-steps/145668-prophetmax-senen-pousa-any-info.html#post1799840

GOOD !....the person asked first !
http://www.trade2win.com/boards/first-steps/150860-xforex.html#post1863478

I had people PM'ing me and wishing me good luck in the new job I agreed to here .....:eek:
http://www.trade2win.com/boards/general-trading-chat/152006-looking-analysts.html#post1878196

Do not pass go do not collect £200....
http://www.trade2win.com/boards/gen...ing-system-course-mentorship.html#post1872452

people accuse some of us here of absolutely destroying newbies and new ideas and "innocent enquiries" about products and services

perhaps finally you can forgive us for our sceptism and smell the coffee...........

good luck
N
 
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It's just common sense really.

Why would someone sell you a system that makes thousands of dollars a week, with no effort, for a few hundred clams?

Is it likely that a World Expert, World Champion and millionaire trader would flog courses through "live trading" webinars where no live trades take place, retrospective trades making 300% are pointed out, and the presenter asks "What the f*** is going on?"?

If a broker knows that a stock is about to explode from 50 cents to 20 bucks on the imminent announcement of a new breakthrough, would he sell you that stock or load up himself?

Why would a successful trader let you gobble up his liquidity by giving you signals instead of trading it himself with increased size?

Etc etc etc.
 
rsh01 said:
I think the majority will not / cannot be diverted away from being victims of scammers in the long run, no matter what the warning message, or how long you try to convince them. The emotion of 'hope' is too powerful. On recent thread one guy said 'thanks to this forum for warning me re waste of time rip off courses', and yet not long later goes to an even more dodgy outfit of trading courses, where they hadn't even bothered to turn up.
So it maybe temporary respite, but will not last long. Perhaps that's why the scammers just reinvent themselves, the mailing list of 'scammees' (those that have been scammed) is too tempting an opportunity for free money to turn down.
Maybe its an inherent part of scammees psychological makeup, no idea, but spending so much time here warning people imo doesn't make much difference.
Click to expand...

agreed......and after some of my recent conversations with Newbies at an Expo in London I am flabberghasted how a decent Suit and a 20 min presentation with a published book in hand still gets them queueing up :smart:

and still the new threads come :cry:
 
The Leopard said:
It's just common sense really.

Why would someone sell you a system that makes thousands of dollars a week, with no effort, for a few hundred clams?

Is it likely that a World Expert, World Champion and millionaire trader would flog courses through "live trading" webinars where no live trades take place, retrospective trades making 300% are pointed out, and the presenter asks "What the f*** is going on?"?

If a broker knows that a stock is about to explode from 50 cents to 20 bucks on the imminent announcement of a new breakthrough, would he sell you that stock or load up himself?

Why would a successful trader let you gobble up his liquidity by giving you signals instead of trading it himself with increased size?

Etc etc etc.
Click to expand...

ALL NEWBIES READ THIS READ THIS READ THIS .........:eek::eek:
 
The Leopard said:
It's just common sense really.

Why would someone sell you a system that makes thousands of dollars a week, with no effort, for a few hundred clams?

Is it likely that a World Expert, World Champion and millionaire trader would flog courses through "live trading" webinars where no live trades take place, retrospective trades making 300% are pointed out, and the presenter asks "What the f*** is going on?"?

If a broker knows that a stock is about to explode from 50 cents to 20 bucks on the imminent announcement of a new breakthrough, would he sell you that stock or load up himself?

Why would a successful trader let you gobble up his liquidity by giving you signals instead of trading it himself with increased size?

Etc etc etc.
Click to expand...

Coz they're really, really nice, genuine, honest and caring types.

or

They've done their bollox and are on the lookout for gullible chumps dreaming of easy coin in exchange for cheeeep :whistling signals.

Gotta go forexmastabatabot has just confirmed it's buy time for Drachma/USD took me ages to find a registered Nigerian broker that would let me trade it so can't miss out.
 
Nope I was never taken in by these kind of scams and never will.

Some milder forms of scams did get me rarely. Put 2k into a "Friendly Bond" with Scottish Widows. Had it tied up for 10 years and getting £200 interest money. Bought a stack of newspaper for £80 when I was a kid when some guy at Tottenham Court Road went: Pssst, wanna buy a laptop for £500 ? I said: Oh I have only £80 (I had more but was trying to scam him). He said: OK deal, and traded me a large bag containing a heavy box.

These experiences taught me all I needed to know when handling financial and physical goods deals. I'd say my education was cheap and fortunately taken early.
 
BeginnerJoe said:
Bought a stack of newspaper for £80 when I was a kid when some guy at Tottenham Court Road went: Pssst, wanna buy a laptop for £500 ? I said: Oh I have only £80 (I had more but was trying to scam him). He said: OK deal, and traded me a large bag containing a heavy box.
Click to expand...

I don't believe you, unless you can show a receipt.
 
BeginnerJoe said:
Nope I was never taken in by these kind of scams and never will.

Some milder forms of scams did get me rarely. Put 2k into a "Friendly Bond" with Scottish Widows. Had it tied up for 10 years and getting £200 interest money - "The They're loads smarter than us Scam" .....buy things that the FSA or Government support.......see also Pensions , Treasury Gilts etc etc

Bought a stack of newspaper for £80 when I was a kid when some guy at Tottenham Court Road went: Pssst, wanna buy a laptop for £500 ? I said: Oh I have only £80 (I had more but was trying to scam him). He said: OK deal, and traded me a large bag containing a heavy box........similar to the Government scam above but you lose your money a little quicker ....and at least you have a laptop bag !
Click to expand...
 
Walter Mitty said:
Coz they're really, really nice, genuine, honest and caring types.

Gotta go forexmastabatabot has just confirmed it's buy time for Drachma/USD took me ages to find a registered Nigerian broker that would let me trade it so can't miss out.
Click to expand...

sounds good.......the USD comment is a little unbelievable though ;)
 
NVP said:
......
so reaching out to everyone here - what advice (or experiences and lessons learned) can we give to people to limit their exposure and risk to such activities ...........from medeochre Vendors and false promises to absolute Scam maestros :smart:
.....
Click to expand...

1: if you're going to put money in, only throw money that you can afford to walk away from.

2: if you do get stung, don't let it eat you up, and go all revenge. walk away.

3: as per previous posters, if they could make money trading, they would be too busy making money trading. the fact someone is cold-calling you to invest in them, means they make their money not from trading, but from cold-calling people up to collect your money. (or off the commissions)
 
I think scams will always exist, they are just another form of crime, just like burglary or shop lifting. Its unreasonable to think it can be eradicated, that doesn't mean that everyone should just sit back and do nothing.

Plenty can be done to make scammer's lives a misery, don't underestimate the hurt this causes them. A certain recent webinar springs to mind.
 
Government sponsored scams don't count because most people are forced into them and escape isn't actually possible. When forced into a deal at the threat of violence - police batons, government jails, ets, it's no longer a scam but a robbery.
 
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