Tuesday 29th November 2016
In this issue of Money Truths….
- Easy money is a seductive concept….
- Follow the rich kids….
- Binary Options – a 7-step plan for guaranteed wealth?
- What can go wrong? Quite a lot as it happens….
Easy money is a seductive concept….
There is no such thing as easy money. Deep down, we all know this to be true….
We know that acquiring wealth is generally a result of sacrifice, dedication and hard work.
We know that we cannot simply reach out and effortlessly pluck wealth from the ether as though it were a plum hanging from the lowest branch of a tree.
But the idea of easy money is seductive. It always has been. It remains so – despite the lessons of history. And some people are more susceptible to the charms of the idea than others….
The lazy man who doesn’t want to work for it; the foolish man intent on believing whatever nonsense fits best alongside his desires; the greedy man who wants it all yesterday; and the desperate man who needs an immediate solution to his predicament….
All these men will always be vulnerable to claims that wealth can be acquired easily and immediately – without effort, specialist knowledge or risk….
Such men represent a fruitful feeding ground that inevitably attracts the attention of sharks….
Follow the rich kids….
I don’t spend much time on social media. I don’t read memes. I don’t watch videos of cats playing trombone. I don’t post selfies.
But I do monitor how the technology is developing. As the operator of various businesses, I take an interest in the commercial opportunities social media presents. I keep an eye on how different types of businesses are using the various social media platforms.
And I’m hearing more frequently how a certain type of shark is harnessing social media and using it to promote the very dangerous idea that it’s easy to get rich quick….
My researchers tell me that on Facebook, Twitter, Instagram, Snapchat, and other platforms, they are increasingly encountering accounts operated by young people who appear to have become extremely wealthy in double-quick time….
These accounts have two things in common….
First, content focuses exclusively on just how rich the account operator is.
The operator will continually post photographs of himself standing next to his new sports car or lounging on luxury furniture – surrounded by champagne bottles and Rolex watches – in his 6-bedroom penthouse apartment overlooking the Thames….
Helicopters, exotic foreign locations, scantily-clad women, swimming pools, casinos, designer clothes, wads of cash, 5-star hotels, quality jewelry, expensive technological gadgets – these are the building blocks from which the operator’s daily life is constructed.
The whole effort is focused on peddling the idea that the account operator is living a life far and beyond what is possible for most people. Some claim to be making tens of thousands of pounds every month.
But then we come to the second thing these accounts all have in common – the claim that ANYBODY can enjoy the same trappings. That ANYBODY can quickly and easily access the same luxury lifestyle.
How? By doing exactly what all these rich and successful individuals have apparently been doing – making eye-watering profits trading Binary Options….
Binary Options – a 7-step plan for guaranteed wealth?
Apparently, getting rich quick is simple. You do it like this….
- Step 1. Sign up with a service operator who offers access to an online trading platform. The guy whose social media account you’ve been following – the same guy driving sports cars and jet-setting across the world – can introduce you to the right people….
- Step 2. Once you’ve set your account up, you’ll get a call from a guy encouraging you to deposit funds. The sooner you do, the sooner you can get to work on getting rich like the guy on Facebook.
- Step 3. Now you’re ready to start trading Binary Options. You are ready to make bets on whether the dollar will move up or down against the pound over the next hour. Or on how Apple stock will move over the next three days. Or on whether the FTSE 250 will be up or down next week. There’s no end of Binary (one thing or the other) Options to bet on….
- Step 4. Wait a minute. Do you know what you’re doing? No, I didn’t think so. But it doesn’t matter. You don’t need to know anything to get rich trading Binary Options. You can be entirely ignorant and still make money because your trading platform will assign you an experienced broker who can help you identify and place the right bets. It’s an amazing act of generosity, isn’t it? This guy is going to help you get rich as Croesus and you don’t even know his real name!
- Step 5. Reassure yourself before stepping into the water. With your broker holding your hand, picking out the best options, advising you when to bet and over what time frame, what can go wrong? You trust this guy, right? He must know what he’s doing or he’d never get a job working for a big trading platform?
- Step 6. Take the plunge. Take your broker at his word. Trust to his expertise and do exactly what he tells you to do, whenever he tells you to do it. Follow his advice to the letter. Do not waver. Do not quibble. Do not deviate. That guy whose social media account you’ve been following didn’t get to live like a playboy by wondering if he should be risking serious quantities of hard-earned money on things he knows very little or nothing about. Fortune favors the bold. Trust your broker. Do as you are told.
- Step 7. Count your winnings – before going in on your broker’s recommendations again and again and again. When you bet correctly on the pound moving up against the dollar, you’ll win between 30% and 80% of the amount you wagered. Sure, it could go the other way. And if that were to happen, you’d lose 100% of your stake. But your broker knows his business, right? He knows which way things are going to go, right? They wouldn’t give you a broker in the first place if he didn’t know what he was doing, right? Young guys on Facebook or Instagram wouldn’t ride round in sports cars if brokers got it wrong, right?
So, there you have it. Trading Binary Options the way the kids on Facebook and Instagram do it – a cast-iron 7-step plan for guaranteed wealth.
What can go wrong? Quite a lot as it happens….
I must be honest with you now. I don’t know why I’ve wasted the last 20-years of my life building a business. I could have saved myself all the trouble and all the headaches.
Instead of working hard each day, I could have made a few hundred successful and lucrative bets based on somebody else’s opinion on how the pound would move against the dollar.
I’m kicking myself. I’ve spent years working hard and building a business when I could have been racing round the countryside in a sports car with the top down. I’ve been a fool. I’ve been missing out on years and years of really easy money….
I mean, if social media is stuffed full of kids that are making this thing pay big, what could possibly go wrong?
Quite a lot as it happens. It can go horribly wrong – in all sorts of unexpected ways.
Just ask the guy who waved bye-bye to £26,000…. Or the guy who lost £76,000….
Or any of the other guys who have lost at least £12 million between them this year alone – and that’s just the amount that has been reported to authorities and law-enforcement agencies in this country. There are plenty more big losers they don’t know about – here and overseas….
Sure, you can say that all these people must be as naïve as new born children and that they deserve what they got. There’s an element of truth in that. Some have been very silly – no doubt. But, make no mistake, many have been victimized and effectively fleeced in very cleverly devised scams.
There’s nothing wrong with Binary Options trading (if that’s what you want to do) when you’re doing it through an honest broker. The problems arise when you are in the clutches of a dishonest or unscrupulous one.
These slick and well-versed sharks have got plenty of sophisticated and ruthless ways of separating you from your cash that go above and beyond bets on one thing or another happening in the markets. In some cases, it amounts to outright criminality.
My team and I have been taking a close look at the Binary Options industry – and some of the shady players plying their trade within it. We know a lot of people are getting suckered in by their promises of easy money. And we know that a lot of people are being put through the financial wringer.
We’ve broken through the surface of the subject this week. Next week, I’m going to show you exactly how the dark side of the Binary Options world works.
And, just in case you were thinking about getting into the trading, or you know someone who is, I’ll be outlining exactly what type of operator to avoid and how to spot his tail-fin in the water before you are forced to deal with his teeth….
That’s how it looks from here….
I’ll be back with more next Tuesday.
All the best,