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Day trading is by no means a scam. However, there are a lot of people
making money selling the idea of day trading who really aren't directly
making their money from day trading.
Does that mean that you should abandon the idea of making money day
trading from home? No way. A lot of business opportunities have this
problem.
Affiliate marketing is the same way. There are lots of people who talk about
making big money at home at affiliate marketing and really make all their
money selling systems. What should you look for in a day trading system?
I think the following short list should help:
1. Look for someone that actually day trades all the time. A hint is if the
training is in their office or in hotels. People who don't do hotel training
usually don't because they want to trade in their office all the time.
2. Do they publish actual trading results or are their results hypothetical?
That is really a biggie. Most systems show what their results would have
done and not what they really did.
3. How long have they been trading? The longer of course the better.
4. Can you find any dirt on them? (hint: don't use the Better Business Bureau)
5. Can you talk to the person that created the system? If you can that is a big
plus. Find out his or her motivation for sharing their system.
6. Is support offered? Is the support with an 800 number or long distance
line? Do the people providing the support actually trade or not? I support
what I sell personally.
7. What sort of guarantee is there? What do you have to show to get your
money back?
Overall, the vast majority of people who try day trading fail, so any system that
guarantees success should be viewed with skepticism. Day trading is very
demanding and isn't for most people.
