The Good, the bad and the ugly about MoneyMakerGroup.com

Posted in Betting, Forex & Gambling, e-currency, Earn Money Online

As much as I know about Information Technology, I didn’t know a whole lot about earning money online. So on the 17th of October 2007 I joined MoneyMakerGroup.com – the self-proclaimed premiere resource on making money online. Just like most members, I once started my money leveraging adventure with the illusion of making big money in HYIP, matrix ‘opportunities’, etc. With mixed results …

In 2 years time, I made some nice profits, but also $40,000 in losses in programs like Minvestment, Tradelite, Quatro, etc. After a while you develop a ‘6th sense’ on which opportunities work and which are doomed to fail.

The biggest mistake I made in the early days is to be an opportunity follower, instead of a ‘quality people’-follower. It really doesn’t matter what kind of an opportunity you join today. The grass is always greener elsewhere tomorrow. To help myself make the best decisions, I read all the ‘money making blogs’ and watched all the HYIP monitors. Ever wondered how the monitors can make all the big cash? They make their profits, not by investing their own money, but earning affiliate and advertising commission.

After I figured that one out, I tried to do the noble thing; setup an independent HYIP monitor. Well, that didn’t work out very well. HYIP collapse and without advertising profits, it was doomed to fail … and it did.

Around 2009 I perfected my FOREX (Foreign Exchange) trading skills using the novice platform MyPrivateTrade.com, a site that’s still around and worth my recommendation! I had days where I leveraged 25EUR into 550EUR in less than 2 hours! 2 hours a day to earn a month’s rent. How cool is that? Around that time I also had plenty of money to tith back to the source where my journey began and ‘invested’ $250 to upgrade to ‘LifeTime supporter’.

When the Foreign Exchange markets got more volatile (and less predictable) due to the recession, I once again moved to MMG. Hoping to find professional traders who could trade the money for me. Big mistake. By then 90% of what was promoted on MMG were ponzi, pyramid, and other illegal schemes. I didn’t only join the wrong opportunities. I also listened to people who were investing $5-25, while I invested a minimum of $1000. I was losing money by the $1000s. Why? I was listening to the wrong people, I had to change my peergroup!

So been away from MMG for a while. After getting taught by the best, I went back on a mission to try to teach other people about that. That’s when learned that a parachute only works when it’s open. Most people didn’t want to listen, thought they knew things better, etc. Maybe they werent’ tired of losing yet?

Fast forward to the present? 99% of the ‘money making’ (read: losing money fast) on MMG are scams. The 100-99=1% that’s left IS a good deal. And it’s probably only me that shares them