It’s the normal routine for many looking to make money trading online but many times it can lead you down

the wrong path:

1. Find a trading system 2. Check online trading reviews 3. Jump right in trading with real money

There is nothing that leads potential traders down the wrong path more than buying into the hype that most review websites use to make a sale. I

want to cover some “red flags” to look for that suggest you should ignore the

review and not use any link on their website for a purchase.

These red flags will cover any type of review sites such as broker reviews, online trading software, day trading

courses and even those that focus on Forex trading signals.

Nothing is off limits to marketers and they will resort to exaggerations to downright dishonesty to get you to

click their links.

It’s all about the money.

Every time you click their link, you get “cookied” which places a small file on

your computer. This file contains information that includes the affiliate

code for the marketer. If you purchase, they get a

commission.

Often times, these cookies will not overwrite so if you visit multiple sites and decide to purchase from the last

website, the first cookie gets the commission.

You can now see why it is in the interest of the marketer to hype as much as possible – They want the

cookie! They get paid while you waste time and money on a method, course or trading software that is mediocre at

best.

Trading Review Websites

These websites are easy to spot as they will list virtually every system or

trading course that is available. As soon as a new product is released, these people will post up a page

highlighting the offering.

I think many of these sites featured Forex trading systems because Forex exploded as a market that is available

to the average trader.

A lot of money was pumped into flogging Forex systems which made it very

mainstream for those looking to trade.

This allowed marketers to ride the bandwagon as Forex became a household

name.

Right now, using the term “Forex Trading”, marketers are paying over

$22 PER CLICK through Google adwords. You can see why they will

hype the product out of the realm of reality as they need to recoup this

investment.

Where do they get all the information about what they advertised? Each product has an affiliate page that highlights sales points about the

product. This “sales copy” is designed to pique your interest enough to click

through to the vendors website.

You are very rarely reading first hand knowledge about the product!

99% of the time, the people behind these

websites are not traders.

99% of the time they don’t own the product.

Here is a quick rundown on how they put their sales page together:

1. Read the affiliate information 2. Read the sales copy on the website 3. Reword the sales copy 4. Build their own sales page 5. Post up a few pictures/banners from the website

As you can see, just about anybody can put together a review website

featuring many types of trading related products. You’d be better off

just closing your browser than wasting your time on these sites.

These marketers are simply tossing up trading websites and pages and hoping

one sticks in the search engine rankings.

Some websites will use a pop-up when you close your browser which will place a cookie on your computer

passively. If this occurs, simply empty your cache on your browser to remove

this type of marketing.

Any Product Review.com

These are a more “refined” type of review site however they are usually just as useless as the first one I listed.

These sites will focus on ONE product and make several posts about it. Again, most of the posts are useless and gives

you nothing to allow you to make an educated choice on the product.

I am going to walk through a website giving online trading reviews about the

Netpicks Trend Jumper.

To call it a “trading review” is a stretch as you will soon see.

Reading this as a consumer, I am expecting a full review featuring the strategy in action with first hand knowledge!

I can read this on the website for the Trend Jumper so I learn nothing new.

This is General information which can apply to almost any trading system/method but it all sounds good.

They “like” the system & even say it’s simple to use but my question is how do they know?

There are no screenshots of the system on the chart. No videos of

them using it. Nothing to show they have done anything but read about

Trend Jumper and then expanded on the points.

How can this be called a review? It can’t. A review of anything should be

by someone who has tested the product! Interesting enough, Google

has ranked this site high which goes to show that even Google can be wrong.

Broker Comparison Websites

If a website is simply listing broker reviews and then comparing them, I

don’t find these to be such an issue. It is very time consuming researching different brokers so it is nice to have

many listed in one area.

It is difficult to hype a broker because as a trader, beside the margins and

initial deposits, you are probably concerned with customer service. The

only way to get a proper opinion on their service is to do so yourself.

As well, brokers are now facing stiff regulations which is a lot different

than a guarantee offered by a trading product sold through Clickbank.

Regulations equal government so you do have some heavy backup in case you are experiencing unscrupulous

behaviour.

The drawback to these review websites is they may only list brokers

that have an “introducting broker” program where you signing up equals a payday for the website owner. You

may not be getting the best broker for you so ensure you do further online

research for brokers not listed.

Powerful Phrases

Recently I saw a website that listed the top converting words to use in sales copy. They were broken down into

intentions…meaning how they wanted the customer to feel.

There are words used in trading reviews to: Imply scarcity – “Only 100 available” Feel safe – “Proven” Exclusivity – “Become an insider” Influential words – “Revolutionary”

You get the picture and have probably seen these used in some form. The list actually had over 150 words that have been PROVEN to be effective in getting

people to read the copy and or click links.

Many trading reviews you see online will use words to evoke emotion and imply that you are getting let in on a

big trading secret.

Some will suggest “leaked information” or a “guru” has “broken open the code” to make

the markets your personal “ATM”.

They will utilize huge headlines and bold copy to get their point across.

Watch out for words implying your losses will be few and far between.

That is just not the reality.

There are no secrets in trading.

Many of the best trading sites will tell you that trading is hard work and that

it is a constant battle of emotions.

Most trading reviews you read online will fail to mention the failure rate, the study, the emotional battle and even

the basics of money management.

You must use your common sense and intuition when reading anything online about trading. While some people will

blog for a hobby, most trading information is presented for one goal

and that is for the writer/site owner to make money off of you.

With Netpicks, we will write about our trading systems but in the trading

blog, the majority of writings (such as this) are written with the intent of

helping you better yourself. Believe me, there is gratification in knowing

that someone has benefited from the writing.

Becoming successful in trading is hard not so much because of the trading

method…but because of the complexity of YOU! It is not to the

benefit any of the online trading reviews and their owners to let you in

on that truth.

One thing about Netpicks..you will find very little hype in the webinars or the

product marketing.

In truth, Mark Soberman from Netpicks once said to me that staying away from promising the moon may cost in sales but it’s the only way he

wants to run this side of the business (paraphrasing).

We just wish others would conduct themselves the same way. All the

marketing that promised riches has left a bad taste in the mouth of many. So much

so that reputable companies with solid systems and trading education suffer

because of the greed of many.

Take what you read on the review sites with a grain of salt as its the only way you will be able to find the needle in

the haystack.