Do your due diligence!

Please make sure you are doing your due diligence on everything, not just your trades.

First things first: Are you doing your due diligence on me? Do you watch the videos that I've been posting for the past several weeks? Are you sure I'm not changing my tune, taking down videos or blog posts because I was wrong? Many of the so called super gurus do just that. They release super hyped up under delivered fake results padded lists and classes, only to leave you empty handed and feeling for lack of a better word, violated.

If you have to ask yourself "Is this guy or gal ever wrong? They only post winners and always say they were right" then you should RUN the other way. NO ONE IS EVER RIGHT 100% of the time. I have been fortunate enough to be taught by some of the best traders in the business, and they will be the first ones to tell you a 70% win rate is great. Guess what? It's still enough to make real good money in the trading business. I've yet to meet ANYONE who was 100%. Sorry, it's just not out there.
It's not your win rate, it's your money management, but more on that in a different post. It doesn't matter what someone else makes or does, it matters what value they give you, that's what you are PAYING them for. The information, analysis or advice.

Madoff should have taught us something about investing in hedge funds, money management firms and giving money to so called experts. Check to see if these people ever managed money before and how they did. Before you invest 1 dollar, have the documents looked over by someone. A few dollars to a lawyer can save your life savings!

Before investing in ridiculously high priced software or seminars, find out what's included for your money. I'm not talking as an outsider here. I've unfortunately paid a ridiculous amount of money for indicators, and have taken over hyped seminars that were completely worthless. It sucks! Do you get training with the software? Is the seminar guarenteed to produce results? If you don't like it, can you get your money back?

If you are looking for the hook here where I say everyone else sucks but I'm great, you missed the point of the post. There are PLENTY of quality educators, chat rooms, newsletters, indicators, hedge funds, money management firms, seminars, and other trading tools out there at your disposal. Take trials. Ask questions. Are they answered in a timely manner? How is the customer service? Dig deep into the product. Do your research. I know it's just easy to believe the hype, become starstruck and just roll the dice, but this is a BUSINESS, not a game or a hobby. Do your due diligence!

That's it for now. I'd like to hear any comments you might have.

Have a great trading day on Wednesday!

Michael tiny Saul

tinymjs at gmail dot com