Watch the video for Matthew Poll Scams to Avoid When Learning to Day Trade below:
More on Matthew Poll Scams to Avoid When Learning to Day Trade
“Yeah, there’s a lot of people trying to scam you out there. And the more compliance issues we keep focusing on here, I find the more we see our competitors or other people that are out there that really are just out there to make $1. They’re actually not interested in their client.
One of the things I would look for is compliance. I would look for a company that is very upfront around their disclosures. Furthermore, very upfront around their guarantees.
What to listen for
Listen for things like income claims. In addition, listen for people that are touting guarantees around a system. That’s an immediate red flag. One, because it falls way outside of a regulation. Like the regulatory bodies aren’t going to endorse that. They’re not gonna support it. They’re gonna come after a company like that. So even you might have a good company. That’s like doing all this stuff. They’re like making money. Promises are making guarantees. They have a legit product. And then the problem is they’re not in compliance. And they get shut down. So it’s like, you have to kind of pick and choose which value you want to take on. In addition, when you join a system or a program that’s going to teach you.
What to focus on
I would focus on education and focus on aligning yourself with a group that’s been around for a while. These new companies you just heard of in the last six months. It’s like do some research see if they’ve been around for a while. See if there’s someone who’s last the test of time. Or are they just the same thing that existed a year ago. And now the scam is they just do a full rebrand on their stuff with a new face behind it because they’re running from their problems. Running from all the, you know, the consumers that have bought into the product and aren’t happy with it anymore.
I’ve also found that customer serving and customer reviews is a big way to tell if You’ve got something substantial. I mean, ultimately customers are going to tell you whether something is good or not. In our company, we survey our customers multiple times to the process and we do that because if we rank anywhere below a seven anywhere, we want to know about it. Why so that we can make the changes and you’re just not going to get that kind of quality with someone that’s new. Someone that’s just started.”
Matthew Poll on Emotional Distress
“Day Trading is an emotional thing because we’re not robots. Furthermore, there’s always a psychological factor. In fact, the market itself is a reflection of the combined general consensus of what we believe something is worth. So you could say that what the price is of the market today is actually a psychological reaction of the general population. To make money in it, or to be successful in it requires you to almost be able to remove yourself from that emotional response. And so there’s probably more books about the psychology of trading than there are skills and strategies, because it’s that thing that’s going to kill you. It’s that thing that’s going to have you do what everyone else is doing and you should be doing the opposite.”