Many people become financially independent and wealthy by investing on the stock market. You are reading this because you are also interested in learning about stock market investments and how to be successful at it.
There is no doubt that following the correct strategy investing in the stock market can lead to substantial wealth.
Unfortunately, there are many people and companies that prey on you if you show any interest in this subject. They use high pressure selling tactics to tell you how easy it is to make money on the stock market using their “system”.
Why do they do this?
We live in an age where quick-fix solutions are touted for almost anything, including wealth creation.
Most people like to believe there is a simple easy solution and these spruikers are very good at exploiting this.
They offer you tools such as “black-box” trading systems and then show you how you could have made money historically by following the “system”. They do not show you the historical losses though!
There is only one solution to becoming independently wealthy on the stock market, and it starts with educating yourself.
Make no mistake, we believe in using technology tools, but this is used to determine entry and exit points or to find potential opportunities you can analyse further, using your knowledge and experience.
It takes time to get the knowledge and then to turn that knowledge into experience. It takes some effort, but the confidence you will have and the results you will generate using this knowledge and experience will be of benefit to you and your family for the rest of your life!
Here is how to spot a spruiker and how to avoid them:
- They make it sound very easy.
- They use pressure and a sense of false “scarcity” to force you into a quick decision. For example, “this offer is only for today”, and “we can only take so many people” or “we only have 2 slots left”.
- Research on the Internet looking for reviews of the company.
- Research the company on ASIC’s Moneysmart and consumer sites in your state.
- Make it clear you are not interested. You might even have to block their number as they will call repeatedly, another sign that this is a high pressure sales situation!
- You can also spot them by the standard sales scripts they use, as well as emotional black mailing phrases, such as “don’t you want to be wealthy?”.
The right way to equip yourself for your stock market investing journey, is to get educated. We offer great courses that will equip you and cover exactly which tools you need to be successful. Click here to find out more.