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Wednesday, April 29, 2009

Tips to Avoid Forex Blog Scams

By Tony Rich Alex Maina Andrew Maina Alex Rich Alma Mutua

There is a lot of forex trading information in forex blogs. However, it can also be a great resource for a determined forex scam artist. Many of them are likely to not only have a fake forex trading system but their own forex blog.

For a few years now, there has been an avalanche of forex products that claim to be able to turn a pauper into an instant forex millionaire. The idea behind all this is that once you buy into their latest currency trading system, you are assured of instant riches with no sweat.

Nearly every forex trader has believed these promises. A majority however, have not been able to replicate any of these profitable forex trading results and have ended up losing a large amount of money. It does not have to be that way.

If you decide to take trading forex like any other business, you are likely to be profitable. Taking trading forex like a business means that one takes time to learn the best trading methods. It also means that one learns how to avoid get rich quick forex systems.

The great thing about forex trading is that you learn something new every day. It is impossible to find two professional traders who think exactly the same way about a trade setup. The forex scammer of course will have nothing new to add and is likely to just copy what he found in another website.

A scammer is very good with language. You are likely to be inundated with difficult forex technical terms. The whole idea is to make you believe that there is no way to succeed without their input. If someone cannot explain in plain English how they are making a profit, they are probably faking their results.

It is true that you should never believe everything that you see. This is especially true of forex trading screenshots that you find online. Many are just created on someones computer and are totally false. You should also be very wary of forex videos that claim the same.

Creating a forex blog takes all of a few minutes. All one has to do is set up RSS feeds from other websites and claim the information to be their own. Since the scammer has no new forex information to offer, he will probably just claim such information as his own.

The easiest way to find a forex blog scam is the promises that are offered. Once you find someone who tells you that you can make a million dollars from one thousand dollars, you should do more research on the site. Such claims are plain lies.

Forex trading is very profitable. However, make no mistake; it takes time to be profitable. You will have to learn how to trade properly, be properly capitalised, and make changes in your lifestyle. Like any other businesses, you will have to make sacrifices. In the end, you will never regret taking the time to become a better forex trader. - 23208

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