Why these opps are nothing more than get rich quick traps
Today’s Adventure in the Biz Opp Jungle:
‘In which Charlie is asked whether this latest opportunity is another “get rich quick” trap, reveals why some trading products are so bad, which ones you must avoid, and why one system ticks all the right boxes’
Hi
What I love about this newsletter is that I’m sometimes challenged... and have to answer to those challenges...
And I don’t mean that in a bad way....
Although I’ll admit it’s annoying when people criticise typos and spelling errors. They miss the point that this is a personal “letter” I write and send out to you pretty much immediately.
If I spent loads of time proofing, editing and crafting a polished masterpiece it would lose all personality.... and I’d spend more time worrying about grammar than I would about the quality of information.
Ah – see? I’ve just gone off the point and starting ranting about something else entirely....
Back to the point....
I was saying that it’s good being challenged from time to time about my views. It keeps me on my toes and ensures that I recommend the right products for the right reasons.
For instance, I recently recommended Keith Cotterill’s new stripped-down trading system, ATM FX. If you missed that email, you can see the website here:
So is this opp another get rich quick scheme?
After my recommendation, one of my readers emailed me to say:
“I have lost count of how many of these opportunities I have received. I have even tried a few of them and been disappointed. Yet they all sound so brilliant...”
He continues.
“I don't believe that 'get rich quick' schemes exist without someone having to lose out somewhere.”
I think he’s absolutely right to be cynical. And so are you. There are a lot of shady opportunities about. If your fingers have been burned, you’re one of many with bandages on their hands.
He’s also right about the problem with ‘get rich quick’. Many opps are usually full of big promises that are nowhere CLOSE to achievable. Usually they make a dodgy marketer a very fast buck by promising instant wealth at the touch of a button.
The only person who gets rich quick... is the person who promises to help you get rich quick!
[For some reason the old advertising jingle for Kwik Fit has popped into my head and turned into this:
“You can’t get quicker than a get rich quicker, he’s NOT the one to trust!”
Erm. I think I’m losing the plot.]
Most ‘get rich quick’ opps tend to be weird internet marketing things that involve a secret strategy or backdoor or portal to another dimension in which everyone walks around with gold in their pants.
They’re often entirely impossible. Even if you follow the system, you won’t make money.
Trading systems are different. Because at the heart of it, trading is a proven way to make money. Many people do it professionally and privately. There are plenty of self-made success stories like Roxanne Cross, for example, all of whom started as home traders.
Others like Wilson P Williams (the guy behind Tenkei) have come from a professional background and adapted their principles to independent home trading.
So I can certainly endorse trading as a valid method of making money. And for some, but not all people, it works.
In fact, out of all the opportunities on my website, trading is the quickest to set up, and the quickest to bring in at least some kind of profits, however small.
The downside is that there’s risk attached. You can lose more money than you win, and you can risk blowing your bank entirely.
And as with ALL money-making opportunities, trading takes some time, patience and enthusiasm. And as with any system some people will take to it quickly and love it, others will struggle and hate it.
However, even if you’re a natural trader with bags of enthusiasm, here’s what you should watch for....
The types of trading system you must avoid
The big problem with trading systems is that some of them don’t offer the right level support... others don’t give you affair chance to test them out... some are written by people who aren’t actually that successful at trading but want to cash in on the little knowledge they do have.
The worst kind of trading opps try to hook people with ‘get rich quick’ promises that simply don’t fit with responsible trading principles.
“Lose your trading pot quick” is the flipside to that promise.
In my view, the very best systems – the ones you should check out – offer the following:
· A proper trial period with a solid money back guarantee so you can test the claims by paper trading, or using practise accounts. An example is a site like Bet On Markets, where they give you £10K in pretend cash to play with just like real money.
· Reliable and prompt email support so that any questions you have are answered BEFORE you go and make mistakes, and you’re not left to wing it.
· A strong element of risk management within system. They don’t encourage reckless ‘gambling’, either in the promotional material or the course itself.
· Reasonable promises that you can achieve regular small, incremental gains. They don’t try to hook you with big jackpot wins or the idea you’ll be earning thousands of pounds every week.
So to take a recent example... ATM FX ticked all those boxes for me.
Keith Cotterill and his team will look after you if you're any problems. Because of the 42 day trial, there’s a decent opportunity to test the system before you’re fully committed to paying for it. You can even paper trade so that you don't lose any investment capital.
Andyou ONLY have to pay for it if it actually works for you. And Keith is very specific and open about what he means by “works.”
By the end of 42 days ATMX has to deliver the following...
* It must make you 10-30 points per day and on a regular basis from a standing start within 6 weeks of today
* You must be convinced that it will make you at least 100 TIMES the course fee in the first year in clear profit (that's after spreads and any trading costs)
* It must complement any trading strategy you already use and help you improve in whatever home trading you do.
If Keith doesn't deliver on this, you can walk away from the opportunity completely.
In fact, you can walk away for any reason you like, even if it DOES make you money. It’s an unconditional offer, which is the way ALL offers should be, in my opinion.
There are more details on Keith’s webpage here
Wot no bull?
As you’ll see there are no big money promises. Keith is not offering to turn you into some kind of overnight tycoon....
He doesn’t claim to have unearthed the mystical mathematical secret of predicting charts, left by the lost people of Atlantis in a gold chamber under the sea.... found by mercenary divers in the 1970s and kept quite at a secret base in the Nevada desert...
Nothing like that.
This is presented as what it is... a genuine home trading system by a real trader who is also an experienced teacher.
Crikey, I realise I’ve ranted on a bit today. But when I start thinking about these intelligent reader-questions, I get obsessive about answering them in as much detail as possible.
If New Baby doesn’t arrive on the due date (tomorrow) you’ll probably hear from me on Wednesday.
Later alligator
Charlie Wright
The Biz Opp Jungle