Wednesday, October 3, 2007

Forex Mentors, Gurus, Advisors Should You Buy Advice?

There are plenty of people on the Internet keen to sell you advice and be your forex mentor or guru but most of the advice sold is not worth the money.

There is a huge industry in selling e-books, courses and systems, yet only a few are any good.

Lets find out how to separate the good from the majority that will simply help you lose.

1. The obvious first question to ask

Yet most forex traders dont bother asking this question yet its critical!

If you want to get rid of over 90% of the Forex mentors, gurus and advisors ask this obvious question:

How much money has been made following your advice can I see the real time track record please?

Most sellers of information like to say how successful they are getting them to prove it!

Most will dodge this question or give you a few testimonials (lucky trades or from friends or a hypothetical track record.

A hypothetical track record is done in hindsight KNOWING the price history!

Well anyone can do that thats why you dont see one that loses.

Ask for the real time track record that is all what counts real dollars made in the market.

It amazes me that people buy advice without checking if it has made money.

If there is no track record dont buy the advice.

2. Look for the method to be simple and fully revealed

You should not simply follow a system or signals given to you.

You need to understand the underlying logic it is based upon.


Because if you dont understand it, you wont have confidence in it and will lack the discipline to follow it through inevitable losing periods.

3. Look for a satisfaction guarantee

If you are buying something based upon sales copy you need to be sure that the hype matches the reality when you receive your advice.

Most reputable system or advice sellers will give you one that gives you the comfort that they are prepared to refund you if you are not happy.

Never buy a system unless you get one.


There is some good advice out there and there are some good systems that are sold but theyre in the minority so take your time to seek one out that you understand has good support and above all - make sure it has made real money in the market before parting with your hard earned cash.


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