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Posts tagged Investing
Stock Assault 2.0 – Only an assault on your wallet
Feb 12th
Stock Assault 2.0 is yet another of the numerous stock picking AI robots that are around. The problem seems to be from many of the user reviews I have read there is no AI in this program at all. In fact, more than one reviewer claims the program does nothing more than feed ticker symbols from stored files during the ‘analysis’ phase when it is running and then present you with some stock picks from who knows where. They verified this by placing their own made up entries in the local files folder the program accesses and were able to view those entries during the running of the program.
When you look at any of the many positive reviews of this program, please look at them carefully, they really don’t give you much solid information on any performance they may have gotten and you can be sure that every single positive review you might find will also have an affiliate link to the Stock Assault 2.0 site so they get their commissions. Don’t fall for this one, I stand by my previous statements that there simply are NO get rich quick AI based stock picking programs available anywhere.
Doubling Stocks – MARL Stock Picking Robot
Feb 4th
I saw this one advertised in several places so I decided to have a look for myself. This place that has the MARL stock picking robot will either sell you a newsletter of free stock picks or sell you the stock picking robot for your own use. The best part of the presentation though had to be the video inviting you to watch over his shoulder as he made over $6,000 overnight in a single trade based on a robot pick for a small telecommunications penny stock.
He starts out by bringing up the NY Times homepage to show you the date and time, then logs into his etrade account to make a trade. Noting that the stock is at a bid price of only $0.13 he proceeds to say he will only buy $2,000 worth and puts in a trade to buy 15,384 shares which would be $2,000 worth at the $0.13 price. However, he adds a limit to the order instead of placing a market order and puts a $0.38 limit on the trade.
Now it is the following day, he brings up the NY Times page again to show you this is so, and then logs into his etrade account once again, this time he puts in a market order to sell 1,450 shares of the stock at its current price of $0.43 for $623. So, what ever happened to the other 14,000 shares? Did he already sell them yesterday? Did he make other trades? Well, we have no way to really know because at no time did you ever see 15,384 shares of the stock in his account. It is hard to believe that anybody with even half a brain would blindly go ahead and buy into this system after viewing such a faulty video presentation. In fact, it should have the opposite effect, watching such a video should scare you right out of wanting to know or hear anything else from this company or person whoever they might be. For all you know, they could have transferred in $6,000 from another account just for the purposes of the presentation.
I have over 30years experience in trading stocks, options and commodities having worked in the past for a large brokerage firm developing stock analysis programs of all kinds. My best advice for you is, if you are considering getting into stock trading, tread carefully, make sure you know what you are getting into before investing any sort of serious money into it. There really are no gimmicky one shot wonder type programs or robots that are going to make you rich overnight. At their best, computer stock analysis programs are just handy tools that you can use along with a lot of other information to help you in your trading decisions and strategies.
Forex Trading – Danger Keep Out
Nov 21st
Forex Trading is currency trading in the foreign exchange market. According to Michael Dunn of the U.S. Commodity Futures Trading Commission, currency trading has become the fraud du jour since 2008. Based on CFTC records, the average forex trading victim loses $15,000 $USD. Trading futures is an extremely risky business, where the chances of incredible losses is even greater than the chance for incredible gains. The North American Securities Administrators Association says that “off-exchange forex trading by retail investors is at best extremely risky, and at worst, outright fraud.”
To put it simply, if you are not an expert on currency trading, leverage, risk management, spreads, market timing and other market related concepts, you have no business in forex currency trading. Conversely, if you are an expert, you would know that you would be much better off doing any of these sorts of trades through a legitimate brokerage service on your own.
Keep in mind that futures trading is a “zero-sum” operation, where for every dollar made, somebody must lost that same dollar. Any money you care to risk in forex trading is going against experienced currency traders who have huge amounts of capital behind them (banks) and they have been doing this trading for many years. They spends all day long doing nothing but monitoring the currency market and trading, this is their job. These are the sorts of traders you are pitting yourself against. Who do you think has the better chance of coming out ahead?
How about many of the forex ads, where they promise 200 to 1 leverage in your trading. Do you think that is a good thing? Most reputable brokerages will never allow you more than a 10 to 1 leverage to keep you from losing all your money too quickly. With a 200 to 1 leverage, this means that if you invested $1,000 you are now trading effectively $200,000 worth of commodities. It wouldn’t take much of a market change for your $1,000 to disappear, at which point you get a margin call for the amount owing. Don’t have it? Well in that case they just take all your money and sell off your commodities immediately, you are all done, your $1,000 has disappeared in less time that it took me to write this page.
In summary, if you have a lot of money that you are really tired of owning, go ahead and throw it away in a forex trading scheme, or just take it all to the casino and bet it all on a single roulette wheel spin.