Here are the top mistakes made by HYIP investors when deciding where to invest online.
1. Not educating yourself on how this industry works. The first and foremost thing you need to do is to learn how this industry works. There is so much material all over the internet but most investors don’t have time to read such articles.
2. Judging a HYIP by its cover. Ah well, The English idiom ”don’t judge a book by its cover” is a metaphorical phrase which means “you shouldn’t prejudge the worth or value of something, by its outward appearance alone”. I hope that everyone is aware of it and the very same thing applies in this industry as well.
3. You never try to contact and have a chat with people behind the program. Most investors never care and never want to make an extra effort to know the people with whom they are depositing their funds. Later they cry and say damn why I invested in this program.
4. Believing what others have to say. Investors often fall prey to greedy monitors and referral sharks. These people never care about others and they never will. They just want the commissions, that is all!
5. Too late to make an investment. The best chance of earning is to spot the investment worthy program at the very beginning or in its early stages. Entering late in most cases is just suicide.
6. Believing blindly to what the program administration is saying. The person running an investment program will put all his efforts to entice you to make an investment in his/her program. Many investors fall in the trap.
7. Investing all money in only one program. Another English idiom ”Put all your eggs in one basket“ is a metaphorical phrase which means If you put all your eggs in one basket, you risk everything on a single opportunity which, like eggs breaking, could go wrong.
8. Compounding too much! Lot of investors keep compounding their earnings. At last the program scams and the investors are left with nothing.
9. Not keeping an eye on the industry after investing. There are investors who will invest in a given program and then they disappear for a while. They come back after few weeks or months to check their investment. Then they find that the program scammed.
10. Falling prey to very high return offers in a short term. Everybody wants to earn as much as possible and so they invest in such programs offering very high returns in a very short time. Such investments are bound to return you nothing.
11. Investing more than you can afford. This is something that you will see written on most of the websites relating to HYIPs. Hyips are very similar to gambling. You should never invest what you cannot afford to lose.
Hope this article will help you in some or the other way in making a profitable journey in this industry. I will be happy to publish more of such articles in the coming days that will help you in choosing the right program for investment.
I know I have just listed some of the mistakes made by investors and I know that most of you will now ask for solutions to avoid such mistakes. Ok I will publish an article concentrating on how to avoid such mistakes but that will be next weekend. In the meantime I will leave you to find the answers for yourself. Try going through the newbies section here and try Google for answers.
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