2. How many people do you know right now that are truly financially independent from giving their money to somebody else? Humans are greedy and lazy by nature and we will always opt where available for the easy way out. It seems easier to give our money to someone else in the hope of a quick buck (that rarely eventuates) than to learn an investment skill ourselves so we can be in complete control. This is exactly what happened in 2008 and the early part of 2009 through the global financial crisis. People who were not in control lost the most, people who were not educated about the financial markets lost the most, people who gave their money to someone else, lost the most. Those of us who are educated only lost a little.
Any form of investing that sounds too good to be true with quick money needs to be thoroughly evaluated and an informed decision reached before investing. This site is dedicated to offering that evaluation.
How Not to Get Scammed Out of Money
Since the later part of 2008 millions of people around the world have be effectively robbed of millions of dollars. And it has often been from greedy institutions, banks and brokers who simply took advantage of mums and dads around the world who have been many cases naive and greedy themselves.
So how do you avoid the scams and greedy brokers and advisers so you don’t become another statistic? There are a number of things you can do but here are the basic rules I believe you should follow.
1) Do you understand the investment you are about to make? A large section of those who lost collectively billions of dollars were unfortunately naive about what they were doing. They trusted someone else and they were living in hope their investment would increase in value. Have you heard the saying, “live in hope, die in desperation”? Now I am not suggesting you shouldn’t seek professional advice, you should. However you have to ask the right questions about your investment, know specifically what it is you are getting into and question the complete control you have of that investment. If you don’t have control, if you don’t know the risk, if you can’t exit the position quickly and you can’t track the progress daily yourself then I would question whether or not you should be considering that investment.
Losing Money
Forex is risky if you don’t know what you are doing. Most amateur Forex traders don’t understand how to calculate and manage risk successfully and trade too much money. Rather than risking a maximum of 1% per trade, they end up risking as much as 100% of their capital and wonder why they can’t make money.
Losing money does not mean something is a scam.
Why Would Someone Consider LTG GoldRock A Scam?
Someone might consider LTG GoldRock a scam because Forex trading can often get a bad rap from those folks who unfortunately can’t make money as a Forex investor. But consider this…. Forex is the largest financial market in the world (over 3 trillion dollars a day) and is used by reputable banks, institutions, hedge funds, private investors and central banks to make hundreds of millions of dollars of profits.
They have no secrets we can assure you of that.
Forex Guarantees? About As Likely As Seeing Cows Swim With Dolphins
In Forex trading, what guarantees are there?
Just like all forms of investment, there are no guarantees and in Forex trading. Long term success is attributed to good money management and a committed and disciplined approach to the system you are trading.Successful Forex trading is about learning probability, which is doing the best we can to stack the odds on our side with well informed, experienced investment decisions. When you learn to appreciate the power of probability there is a lot of money to be made as a Forex trader, but there are no guarantees.
Who is responsible for my losses?
You must always take full responsibility for your actions as a trader and be honest with yourself at all times, and this is vitally important as you build your knowledge and skill over the coming months and years ahead. Any trade you take, you must understand the risk and accept the risk that you are taking on each trade. You need to be completely comfortable with the risk and accept complete responsibility for any trade result, whether positive or negative.
Money management is the key to success long term.
Source: LTG GoldRock, US Blog
LTG GoldRock Investment Philosophy: Get Rich Slowly
In the world of Forex, how does one determine a legitimate system from a scam? Is it in the performance… the advertising… the colors of their website??? Ultimately the answer is up to you as the trader, however, we feel in Forex one of the main factors to consider is the investment philosophy.
LTG GoldRock’s philosophy?
Get rich slowly.
LTG GoldRock: Too Good To Be True?
Any form of investing that sounds too good to be true with quick money needs to be thoroughly evaluated and an informed decision reached before investing. Forex does indeed offer incredible leverage opportunities and it is not uncommon for successful traders to make substantial returns, far higher than having money in the bank or investment fund. These traders are experienced, understand leverage, risk and money management and are using techniques that limit risk and maximize profit.
All LTG GoldRock students are giving a solid and complete education and ongoing training on the importance of risk management, preserving capital and maximising profit. Check out a video after the jump…. Continue Reading…
Be On The Lookout For Scams and Fraud
Before undertaking any forms of Forex investing you should ensure the broker or advisers are fully licensed and registered with official agencies. This includes brokers, education companies and trading advisers. For example, LTG GoldRock is a corporate Authorized Representative (AR # 335434) of The International securities and Derivatives Group Pty Ltd (AFSL 227544 ABN 22 103 552 683).
You must fully understand how Forex operates before you make a financial decision to trade it. Do not trade Forex unless you have done your homework on the broker you are about to invest with and the Forex educational company or advisers who you will be learning with. Continue Reading…
LTG GoldRock on Stop-Loss Orders
You will not get your decision correct every time trading Forex and you must limit your loss by using a stop loss order on all trades you place. You also need to be able to calculate 1% to 2% risk with a Forex risk calculator to ensure that when your account is trading a base currency that is not the same base currency as your account you are able to still maintain your risk management, and preserve capital on losing trades. This is something LTG GoldRock emphasizes for all traders.
LTG GoldRock’s view on using a risk calculator is simple: If you do not have or are not provided with a Forex risk calculator do not trade Forex as you will not know how to manage risk appropriately.
Forex and Risk
All forms of investing have an element of risk and Forex trading is no different. There is an opportunity for profit and also an opportunity for loss and you should always make informed decisions before investing in any financial product. LTG GoldRock is aware of these risks and works to educate traders through their Learning Center, live webinars, and in the Live Trading Room.
Forex is the largest traded market in the world with over 3 trillion dollars a day traded. You can be as large a trader or as small a trader as you like however the only money you should be risking in Forex is money you can afford to lose. Continue Reading…