Tuesday, May 29, 2007

What to Look For in a System

Up and coming bettors often ask me what to look for in a system to use. Here are three tips that I consider "must-haves" of any system that you seriously consider:

1. Paper trade it before you use it for real. Paper trading means try out the results on a sheet of paper (use a computer and a spreadsheet if you want) before you put real money on the line. If the system works for you on "paper" it will work for you in real life. That's great... but not all systems work. So before you find out that your system is a loser, try it out for free. You will cost yourself some profits if you have a winner, but that will be more than offset by the money you save by skipping the losers.

2. Get a money back guarantee. If the author/publisher/whoever won't give you a money back guarantee, that should tell you all you need to know. If the product is worth anything, you'll more than likely be willing to pay 10 times the asking price. But if the seller isn't willing to give you a guarantee, their product probably isn't worth anything.

3. Think before you buy a system. What are you really paying for? Do you need a tipster or the latest piece of software? Maybe you do once you're up and running and you just want to become more efficient. But I've always believed that "if you teach a man to fish, you feed him for a lifetime". Set yourself up with a tipster or some software, and you're dependent on that. Get a system that you can learn, apply... and improve. Don't get reliant on something that may or may not work.

There you have it. Follow those three tips and you will be able to find yourself a system that works.

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