Teach Me to Trade is yet another one of an endless succession of self-proclaimed stock market gurus who out of the solid-gold goodness of their hearts decide to share their great secrets so that you too can “kill it” on the stock market. At the helm of of the Teach Me to Trade company is Linda Woolf and David Gengler. They were featured in their faux-entusiastic infomerical exhorting the simplicity of their stock-picking system. After all, Gengler had doubled his initial investment into mad money and for low low cost of his Teach Me to Trade seminar he can show you how.

Apparently what he meant by low cost is to the tune of $3000. Afterall, that is chump change compared to the money to be made by stock market neophytes who don’t need to understand anything about investing because they will make untold riches through Teach Me to Trade. It appears that Woolf and Gengler practice the time-honored profession of making money by teaching people how to make money. Unfortunately this quasi-ponzi scheme is short lived and it only benefits the teacher for as long as he can dazzle his dupes with shiny baubles and platitudes.

The Teach Me to Trade scam is simple and will be familiar to anyone who has spent time in MLM. First they sell people on the successful “system”. Just follow the system and your success is assured. Then back that up with a varity of statistics and figures e.g. 80% of the people who purchased enough product to reach diamond level now make six figures a year. Get the right kind of hype man followed by a couple of entusiastic audience shills and you have the recipe for plucking dollars from the desperate masses.

This is also the recipe for legal action as a Teach Me to Trade lawsuit was filed by the Securites and Exchange Commission. There is a funny thing about “make money online” scams and that people tend to be pissed when there is no pot of gold at the end of the rainbow. Teach Me to Trade is no different and when the supposed simple system doesn’t crank out the bucks then the fraud charges follow. It has been said before and it will be said again that if it sounds too good to be true then it probably is. But the fact that it has to be said again means that people get don’t get it.

So hear is the bottom line:

Anything that states you can make money without understand the mechanics behind it is a fraud.

Pure and simple. It is folly to think that you can game the stock market or any market without understanding the fundamentals of it. This was what Teach Me to Trade promised and that is fraud. People want to make money online or from forex but they don’t want to do work to get there (i.e. understand it) so they throw their money at these people who are stupid enough to accept it.