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coaching scams?

Discussion in 'Scam Alerts' started by Brian Burgess, Jul 16, 2008.

  1. Brian Burgess

    Brian Burgess Recruit

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    I'm looking for peoples thoughts concerning forex coaching. Since purchasing the forex-killer software about a week ago, 2 people have called me trying to get me to use "OPM" or other peoples money, to invest in a personal coaching program. Basically they try to make you seem inferior and pretty much tell you that you will never be successfull trading forex unless you join their program. According to these people, there is nothing that can be gained by reading ebooks, practiceing tradeing on demo accounts or gleaning info in general from forums such as these. They won't tell you how much their program cost, only that it varies depending on the individuals needs. This alone sends up a red flag for me in addition to the suggestion that I put up "other peoples money".
    Are ther any legitimate coaching programs out there and if there are, who are they and how would I go about verifying their credentials?
    First call I got was from a representative of 4xkit.com and the second was a business associate of forex-killer.
    For the record, I'm quite happy with forex-killer. I've been using it to trade on a demo account since July 9 and so far I'm up almost $3,000.00
    Your input would be greatly appreciated. Thanks.
    Brian
     
  2. Pharaoh

    Pharaoh Colonel

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    Unless you are a very good trader going into the managed account business, trying to trade forex (or learning forex trading) using other people's money would strike me as a bad idea. Encouraging people to do this definitely strikes me as terribly unethical, at best.
     

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