Sunday, March 05, 2006

Scam watch early warning call!

The Money Trader -- a signal service.

Watch out -- you'll be dead and/or broke in 6 months!

Basic rule that has stood the test of time is as follows:

Those who cannot do, teach. Those who cannot perform in industry, become professors.

Trading is hard; only the tigers survive and even they have to be ever vigilant!

Signal\newsletter etc. providers cannot trade themselves; their only source of income is from your funds.

My personal experience with the Forex is that everything of bountiful, exquisite value came to me just like god-given gifts, such as air, water and love. No money was involved.

There are hundreds of signal providers around, but what makes this particular one lethal to your pocketbook is the dual famous names, Kathy Lien and Boris Schlossberg.

Both are technical writers for FXCM & Kathy has just written a book on FX trading.

I believe this service is not related to or connected to FXCM, but it is entirely possible that it is a strategic attack at the millions of wildebeast.

They want $1,500 per year for their signal service.

Having read their stuff for a few months at FXCM's website I can unequivocally state that both are terrible market timers.

Both are decent enough writers of technical points, but I believe an average technician, working on his own, can do far better.

Its getting so a Forex newbie can't even go to the can in peace anymore without some asshole taking a shot at his goodies!

:) :)

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