More on forex trading and other money making schemes …..
Posted on 10 June 2011
The first thing to realise is that a 637% return pa is not possible from genuine foreign exchange dealings, neither is it possible from investments, so clearly this is a scam, a ponzi scheme, don’t know what a ponzi scheme is? Here is Wikipedia’s definition – “.. it is a fraudulent investment operation that pays returns to separate investors, not from any actual profit earned by the organization, but from their own money or money paid by subsequent investors.” Call it what ever you like, but you will lose your money if you are not careful. These types of “investments” are referred to as HYIP’s(High Yield Investment Programs)
Lets return to my comment “you will lose your money if you are not careful.” Not careful? I make it sound like it is a viable investment option. Well, this is what I found when I started investigating these forex and other schemes that are available on the Internet. There are investors that use these, shall we say “alternative” investment vehicles, and do invest in them, albeit with care and circumspection! They use Alexa (www.alexa.com) to monitor traffic to the website of these schemes. The traffic volume and whether it is increasing or levelling off tells them whether or not to invest or get out. And so, by being vigilant and careful and NOT being greedy you could make a pretty good return investing in these vehicles. They seem to invest anything up to US$150 for 14 days, sometimes a month or more. The schemes have different investment rules which you must make yourself familiar with, one twit invested $30,000 and lost it all! He got no sympathy from any of the other investors, they considered him stupid.
So be CAREFUL!! When Googling these sites you find lots of blogs with positive reviews, these are written by the schemes to attract ‘investors’ I did however find an independent one to which I now subscribe, you will find it here: http://hyip-blog-investment-monitor.com/ Subscribe, it makes for a good read if this type of investing appeals to you.
Today I came across one that is not forex biased but invests into a sports betting market called “arbitrage”. A sports arbitrage situation occurs when two Bookmakers (companies that handle bets on the results of a match or of an event) have different odds for an event and this difference will generate a profit or a zero loss on the worst case, no matter what the result of that event is. The mind boggles! But, it is another way to make money on the Internet….