Your inputs required please: Shares trading related.

ElRazur · 16-10-2008, 14:40

So I was offered a proposal to trade and the breakdown is as follows:

£100 investment.
95% chance of making £300 pounds profit.
The person trading takes 30% of profit made.
I get the rest.

Sounds too good to be true

Okay, this person in question appears to have been doing this for some time and it is what he relies on soley for his daily bread and income.

While I am very sceptical about things like this, and given the bad news coming out from shares etc...Is there something I should consider. Or better still is this something I can even do myself?

Mark · 16-10-2008, 14:50

That sounds rather too good to be true. Not saying that making that sort of return is impossible because it certainly isn't (I was looking at that sort of margin on my company share options before the crash happened), but 95% certainty? If it was that high, everyone would be doing it. When you factor in transaction costs it's even less likely.

What you don't say is how long he'll need your money for. If he's suggesting a 'quick killing' then I would start ringing the alarm bells.

Yes, people do make a living from the stock market, and there's an absolute fortune to be made on a stock market that's experiencing 5% daily swings if you play manage the game right, but it's one hell of a risk.

However, if you feel you can afford to lose the £100 then it's up to you whether you take a punt. You never know - it might work. Just don't take any initial success as a future indication - that's how people get burned, badly.

Matblack · 16-10-2008, 15:23

Ask yourself, if he's making loads of mmoney in share dealing, why is he asking you for £100

One of two reasons springs to mind; he hasn't done this before and he 'thinks' he can make it work or its a scam. If its a scam then typically the way it would work is that he would give you a big return on your investment, having 'proven' the method to you he promptly asks for £10,000 and you never see him again

MB

G-MAN2004 · 16-10-2008, 21:14

Scamming the scammer, eh?

Only joking, mate.

ElRazur · 17-10-2008, 10:36

Quote:

Originally Posted by G-MAN2004

Scamming the scammer, eh?

Only joking, mate.

Only that this "scammer" is a smart scammer, hence why he is consulting the forum.

divine · 16-10-2008, 23:33

If he could 95% guarantee a 400% return, why would he offer it to you, rather than just drop a few grand on it himself?

ElRazur · 17-10-2008, 10:36

Thanks you all. I think I will keep my money. It is better off in my bank account/wallet. Just cannot afford to lose that kind of money.

16-10-2008, 14:40	#1
ElRazur Long Island Iced Tea Join Date: Sep 2008 Posts: 214	Your inputs required please: Shares trading related. So I was offered a proposal to trade and the breakdown is as follows: £100 investment. 95% chance of making £300 pounds profit. The person trading takes 30% of profit made. I get the rest. Sounds too good to be true Okay, this person in question appears to have been doing this for some time and it is what he relies on soley for his daily bread and income. While I am very sceptical about things like this, and given the bad news coming out from shares etc...Is there something I should consider. Or better still is this something I can even do myself? __________________ "Never ignore fools in large numbers."

16-10-2008, 15:23	#3
Matblack Baby Bore Join Date: Jun 2006 Location: Svalbard Posts: 9,770	Ask yourself, if he's making loads of mmoney in share dealing, why is he asking you for £100 One of two reasons springs to mind; he hasn't done this before and he 'thinks' he can make it work or its a scam. If its a scam then typically the way it would work is that he would give you a big return on your investment, having 'proven' the method to you he promptly asks for £10,000 and you never see him again MB __________________ "we had roots that grew towards each other underground, and when all the pretty blossom had fallen from our branches we found that we were one tree and not two"

16-10-2008, 23:33	#6
divine Moonshine Join Date: Sep 2007 Location: Southampton Posts: 3,201	If he could 95% guarantee a 400% return, why would he offer it to you, rather than just drop a few grand on it himself? __________________

17-10-2008, 10:36	#7
ElRazur Long Island Iced Tea Join Date: Sep 2008 Posts: 214	Thanks you all. I think I will keep my money. It is better off in my bank account/wallet. Just cannot afford to lose that kind of money. __________________ "Never ignore fools in large numbers."

16-10-2008, 14:50	#2
Mark Screaming Orgasm Join Date: Jul 2006 Location: Newbury Posts: 15,194	That sounds rather too good to be true. Not saying that making that sort of return is impossible because it certainly isn't (I was looking at that sort of margin on my company share options before the crash happened), but 95% certainty? If it was that high, everyone would be doing it. When you factor in transaction costs it's even less likely. What you don't say is how long he'll need your money for. If he's suggesting a 'quick killing' then I would start ringing the alarm bells. Yes, people do make a living from the stock market, and there's an absolute fortune to be made on a stock market that's experiencing 5% daily swings if you play manage the game right, but it's one hell of a risk. However, if you feel you can afford to lose the £100 then it's up to you whether you take a punt. You never know - it might work. Just don't take any initial success as a future indication - that's how people get burned, badly.

16-10-2008, 21:14	#4
G-MAN2004 Columbian Coffee Join Date: Sep 2008 Posts: 83	Scamming the scammer, eh? Only joking, mate.