Every stock market investor faces one primal enemy. An enemy so perverse, it will drive thousands of investors from stock market through its ability to defeat even most practiced investment strategy. Who is this enemy you ask? Your arch nemesis, in this case, goes by name E. Motions…don’t ask me what “E” stands for.

Emotions are driving force behind every stock market cycle. Quite simply, if they weren’t present in stock market, investors could be reaping rewards based solely on expanding or receding economy, and professional traders wouldn’t have any juicy profits from those emotional mistakes to grab.

Here is an example scenario:

Let’s say that you’ve done your homework, read books, traded on paper, and now you’re making your fondest dream come true by investing in market and making money!

You maturely approach losses as part of learning curve. You’ve experienced your share of them but your wins are still in lead, thanks to commitment you made of not deviating from your chosen strategy. Euphoria sits on your shoulder.

One day, after 3 frustrating hours in traffic, you get home to find changes. You know that you should follow your strategy, but Stress and Greed are in charge. You’re buying and selling outside your strategy, but are confident that it will be ok – just this once.

Now prices are dropping and Fear enters room.

Fear attacks every investor’s self-confidence with a voracious need for control. You spend sleepless nights listening to his mantra - you don’t know what you’re doing.

Fear and Greed are now dictating strategy. Self-confidence is on critical list. Reason and Caution are under attack and are losing.

In August, 2004, Federal Trade Commission issued their findings of a recent study, which showed that nearly 25 million adults were victims of fraud.

Now, most importantly, If you are a victim of fraud, please do not feel like you did anything wrong. It happens to all of us at one point or another, as FTC’s study clearly shows. Everyone likes a magic trick, and none of us are fully capable of noticing con-artists’ slight of hand. So, if you’re a victim, take a deep breath. You’re normal.

But, there’s an old saying that goes something like this: Fool me once, shame on you…Fool me twice, shame on me!”

Here are 5 KILLER STEPS to protect yourself from Credit Card SCAMS!

1.NATIONAL NO-CALL REGISTRY. 2.TELEPHONE SOLICITATION 3.1-900 NUMBERS. 4.ANNUAL FEES, INTEREST RATES, ETC. 5.THE UNITED STATES FEDERAL TRADE COMMISSION

1.NATIONAL NO-CALL REGISTRY:

There’s nothing more annoying then those credit card offers that you get over phone. I don’t know about you, but last thing I want to be doing, while having dinner with my 1 year old daughter and my beautiful wife, is to be annoyed by phone calls from solicitors that just want to make money off me. Legitimate or not, these calls are a nuisance. If you’re like me, and you would rather live without dealing with these calls, then go do this:

a)The FTC has created National Do-NOT-CALL registry. Go find out more information about it. The website is: http://www.donotcall.gov

b)If it makes sense, complete online form.

c)Take a deep breath, and relax. Within 30 days, list will start working for you. I can personally attest that, while solicitations have not stopped completely, they have significantly, significantly decreased.

Join FTC No-CALL-Registry, and enjoy a reduction in telephone solicitation phone calls.

2.TELEPHONE SOLICITATION:

Believe it or not, vast majority of lenders out there are legitimate. Also, believe it or not, a lot of these lenders utilize telemarketing as a method of reaching out to potential customers.

a)But beware of a wolf in sheep’s clothing. Legitimate Lenders never ask for a processing fee in order to complete your application (this does not include appraisals during a real estate transaction in Escrow…We are discussing credit cards here).

b)Keep your personal information to yourself! Don’t give out bank information, credit card numbers, social security numbers, etc., to someone you don’t know, on a telephone call. Use your common sense.

c)If you don’t have offer in hand, or confirmed in writing, then don’t pay. This is fraud. Who is this person on phone anyway? Get their phone number, their address, their federal tax ID number, and then tell them you’ll call back. If they’re legitimate, they’ll give it to you. If you question them, then I say trust your instincts. You’re probably right on target.

Who is this on phone? Don’t trust people you haven’t had a chance to get to know. Don’t let one enticing offer on a phone call, be your guide...

3.1-900 NUMBERS:

A 1-900 number is, of course, a phone number that charges caller per minute for making call. Whether it’s a 1-900 number, or a future manifestation of same type of telephone service, be wary of doing business this way.

a)The most common Credit Card SCAM, in all of its different forms, is called an “ADVANCE FEE LOAD SCAM”. Typically, you will find these in classified section of your local newspapers and trade magazines, and unfortunately, you’ll also see them floating around internet.