Archive for the ‘LTG GoldRock Advice’ Category

How Not to Get Scammed… Continued

Posted on: September 12th, 2010 by FX LTG Blogger
This entry is part 2 of 2 in the series Not Getting Scammed

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.

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How Not to Get Scammed Out of Money

Posted on: August 17th, 2010 by FX LTG Blogger
This entry is part 1 of 2 in the series Not Getting Scammed

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.