Sunday, July 14, 2013

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Funny Ebay Auctions on Trading System

After watching Ebay auctions that were selling Forex related materials for years, I thought I would start postings that were made by sellers.

To start off here:

The Canadian Clown has been selling his trading system from March 2008 (5 years now) and has yet to sell one. Problem is that he is selling it for $784,349.00, but the catch is that he's not giving a guarantee. I'm guessing that this guy stuck his tongue to a frozen metal flag pole for 2 years before anyone helped free him. Note to the Canadian Clown, no one is going to pay $784,349.00 for a trading system that has no guarantee. Now, if it worked and you sold it for $99, you would have sold thousands by now. I guess math is not his strong subject.

How about the Russian Con Artist that was selling his trading system for $5,000. His claim was that he made 182 trades in one hour and all were profitable. I contacted the seller and asked for a statement. I then received a statement showing all 182 trades that was made in one hour. The problem was that he then claimed they were manual trades. Do the math...3.03 in and out manual trades every minute. I magnified his statement and found how his columns on the statement were not straight which meant they were photoshop pics. He sold his system to one person that left a negative feedback and the con artist left ebay.


Hints to people looking at Ebay for trading systems

1) It the auction looks too good to be true, there is a strong chance that the seller is about to take your money and run.

2) If the seller states that he/she can't guarantee the auction item because it's not a tangible item, then don't believe it. Forex programs can be guaranteed and they know it.

3) If the seller won't give you a guarantee, don't buy it.

4) If the seller does sell you something but wants to charge you for shipping when it's an item electronically sent, tell the seller that he is in violation of ebay rules for charging shipping on items not physically shipped.

5) Always check feeback on the seller. If he has a poor rating, then use caution. Also check feedback to see if another buyer purchased the item you are looking at to see if the feedback is positive or negative. Keep in mind that you can contact the buyer to see if they were pleased with their purchased.

6) Always check google to see if others have made comments and feedback into the system.

7) If you find a trading system on ebay, use the search feature to see if someone is selling the system for a cheaper price.

8) If you see a chart for the system and it doesn't show the end on the right side of the chart, this means it's cheery picked. The seller looks for the idea conditions on a chart to show to others. This should set off an alarm to be careful

9) if the chart shown is more than a month old, this means that the seller has no idea current trading conditions to advertise. A good system should show current charts if the system was actually working properly.

10) Send a message to the seller if you have any questions before you enter an auction.

11) If you see a trading system you developed on ebay, contact ebay and make a complaint (this happens a lot). You would be surprised how many trading systems are stolen from forums and sold by morons that are failed traders and the only way to make money is to sell programs developed by others.

12) If you find an ebook that may interest you, check this forex forum (and others) and see if you can get it for free. This also applies to movies, trading systems, etc. Free is better!

13) Paypal is the best method for exchanging funds. If the seller refuses to use Paypal, this is a good indication that they were kicked off of Paypal due to fraud. There are some cases where they have applied for a Paypal account and it hasn't been approved yet or they can't use Paypal due to where they reside.

14) If you see an item you want and the price for the auction is too high, send a message to the seller and see if they will sell it to you bypassing ebay. This is done often to avoid ebay fees.

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