friend, am repeating ....ur the missing the crux.
Ofcourse these tips providers are fraud people and no one is denying that at any point. But let me tell you that the main reason for what happened with you is YOU.
1) As a starter one may not have any knowledge in trading. But what about common sense ?? Thats not related to market knowledge yet it has to be used in every aspect including Trading. Problem is we dont use that common sense while trading and the reason is nothing but eazy money. Its not that we dont have common sense, but we ignore it.
Let me ask you this and please dont take it other way....What happened to your common sense when some one is assuring you huge returns? You must think that if someone could do that, why would he come to you begging for a fee? You must think that when he can earn your monthly fee in a sngle trade, why he should be behind you giving trails for his service. Its all common sense and there is no need of any stock market knowledge to understand this.
You are assuming that i am not against these tips providers. Its not like that, I hate these sham people as much as you do.
Forget about tips providers for sometime. Lets talk about brokers and their dealers, they call you and somehow make you trade with their stories and mostly we end up in a loss. They do it just for their commissions. In a way these dealers are also like tips providers, one does it for a montly advisory fee and other for a commission on trade value. Same goes with Mutual fund agents and Insurance ( market linked ) schemes. Insurance industry is strictly regulated by IRDA, but what happened with ULIP schemes.
When people who are working under regulators are doing such horrible things what are you expecting from tips providers.
Our common sense if applied properly can alone save us 90% of times.
Common sense is a basic ability to perceive, understand, and judge things, which is shared by ("common to") nearly all people, and can be reasonably expected of nearly all people without any need for debate.
In order to exhibit common sense, the person should perceive, understand, and judge things
which is shared by nearly all people.
Who are the people in this field who share their real picture (not perceived) about the real things happening in this field. There is very limited and reliable source to get the real picture in this field mostly after burning the hands. There is no room for exhibiting your common sense atleast before burning your hands because you have no ability to perceive, understand and judge things as it is NOT shared by the all the people involved in this field. Once it is not shared you cannot be expected to exhibit this basic ability which is not nurtured with what is needed to be from the people involved in this field.
Commom sense which is built upon the things derived from other walks of life other than trading is not going to help you here. You cannot be shielded either from loosing by trading or falling prey to gullible cheaters just because your basic ability to understand, perceive, judge trading or related things is handicapped. Lack of understanding about the trading among the people is the chief reason for this handicapped basic ability.
Distorted paradigm of trading, by not revealing the stories of failures which is larger in number but propagating the negligible percentage of winners, has its impact on the general people minds and their perception, understanding and judging the things. This in itself propels to build flawed basic ability by the traders and lets term it Common sense.
Your common sense is flawed to survive in this field. If the common sense acquired from other walks of life worked here, there would not be so many failures in this field.
