Saturday, January 19, 2008
Currency Trading Systems - A Simple Tip to Spot The Scams Easily!
There are numerous currency trading systems for sale all claiming you will make huge profits with them and over 90% donâ™t work. Here we will give you a simple way of spotting the ones that wonâ™t instantly. The trick is to look at the track record and see if it adds up by checking the disclaimer itâ™s very important as all track records are NOT what they seem. Track Records and Disclaimers Most currency trading systems carry the one below which is a standard CFTC one but read it and you will see that it makes any trading system that carries it not worth the paper itâ™s written on so here it is: âœHYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWâ This disclaimer means that vendors can simply make up track records -all they have to do is put âœsimulatedâ and âœhypotheticalâ Of course, anyone can make a track record look good in hindsight a child can do that but of course forex trading is much harder than that â" You have to do it not knowing Vendors of Forex trading systems particularly forex day trading systems abuse this and in simply make up the track records, to make them look attractive and appeal to an investorâ™s greed or naivety. These buyers are then surprised when it loses! Not every trader out there who sells a forex trading systems is trying to dupe buyers of course there are a few genuine ones out there but their a tiny minority. You do find many vendors who try and present truthful hypothetical track records BUT ask yourself this question: If the vendor doesnâ™t have the confidence to trade his own system with real money why should you trust it with your money? It doesnâ™t say a lot for a forex trading system when the vendor doesnâ™t even make money from what he is selling! There is no âœfree lunchâ in forex trading The fact is unless you see a real time track record you need to steer clear or you will probably end up losing your money â" look for the disclaimer we have shown you above and you will be surprised at how many systems use it. If you have ever wondered why a track record looks to good to be true â" the reason is its odds on to be done in hindsight. Keep in mind the famous saying: âœif it looks to good to be true it probably isâ Today, a huge mass of vendors who have never traded in their lives are trying to take your money with hypothetical track records and clever marketing copy and they will all lose you money. Donâ™t fall for the above or you will soon lose all your money! NEW! FREE TRADING PDF s PRO FX TRADING COURSE For free 2 x trading Pdf s with 90 of pages of essential info and an exclusive Forex Trading Course visit our website at: learncurrencytradingonline.com/index.html