I've Tried That - We lose money so you don't have to!

When it comes to making money from home, there are two things I don’t touch: FOREX and the Stock Market. Yes, there’s a ton of money to be made if you know what you’re doing. There’s no magical program that you can use that will automatically make you millions and if you aren’t careful, you can lose A LOT of money VERY QUICKLY.

Today’s post comes from Celeste who lost only a few bucks to Michael Cohen and DoublingStocks.com. She writes…

This company scammed me and many others. This fellow rarely ever provides a stock pick and WILL NOT REFUND YOUR MONEY PERIOD. If you try to get your money back they will either ignore you completely or increase their emails to you explaining why there is no stock pick this week. I have asked for my fifty dollars back on twenty eight occasions and either got no response or got one of the latest excuse emails. The very few stocks he recommended, I lost money on because they were what are called “pump and dumps” and unless you are aware of when to get out, you never, ever make money on them. This fellow never let us know when to get out and by the time he notified us of his great deals, he had evidently already offered them to his premium members (the poor saps who paid a fortune for his system) and they had already made any money there was to be had from the pick. I was completely new to the stock market and believed all his hype. Please, don’t fall for it…the guy is a great blowhard but that is it. Below is the latest of his emails, with the latest excuse he offered….

“Michael Cohen” "I've received several hundred emails lately, all asking one question: "When is your next stock pick?"
I have no firm answer. It could be a few weeks. It could be a few months.
I am exhaustively searching the market. Here is the 4 criteria I demand:
* A newsworthy company on the brink of success. * Little-known and currently overlooked by investors. * Small market cap (sub 100m)
* Management dedicated to raising the profile of the company.
These 4 criteria have proved hugely successful in the past. And I will not compromise on any of them.
Best Regards,
Michael Cohen
P.S. If you believe you know of a stock which matches the above criteria.
Please get in touch."

There is one website I found that was interesting and his newsletter is free. It is called The Stock Gumshoe. I found that he can often tell who these people are and what stock it is they are promoting by deduction. While he has what he calls 'Irregulars" that are members who pay a small fee and can get access to greater amounts of information, his free newsletter provides a great deal of info about these stock promoters who will fill your email with 'great deals'. Please take a look at his info and maybe sign up for the newsletter if you want to know more details about some of these great deal stock offerings. His is the most accurate and complete resource I have found about these scam artists. Too bad, I found him AFTER I ran into Michael Cohen and he talked me out of my fifty bucks.
Best Wishes,
Celeste

Peter Leeds at PennyStocks.com did some awesome research on Stock Picking Robots. If you sent money to these guys through Clickbank and you want to get a refund, simply fill out the form here: http://www.clickbank.com/orderDetail.htm?clear=true&locale=EN

Other than that, stay away from any type of program that will automatically make you thousands of dollars. It’s never that easy.