Registered: Jun 2011
10-24-12 11:55 PM
the keyword being "customers"
Quote from Rationalize:
Start by throwing away technical analysis & most directional punts. Leave that exotica for customers.
first thing I learned when I went independent. Not only do I not have any customers, I AM the customer.
Took me a while to learn and understand my new limitations, as compared to my previous advantages.
thank g-d those big boys weren't trading corn back then, and they just left us little traders alone.
otherwise to OP, time and energy is better well spent understanding and accepting your limitations rather than competing in a game you can never win.
but to answer your question, they just tell you to get on the phone and sell something to somebody. That's how they make money. I don't know where you get this idea that anybody over there knows how to trade. They just know how to sell.
Like the man said, they don't need to make money directionally, they can make it just hedging the other side of your risk, and they charge you out of your account, and you pay it because you think they must know something, because after all, they are professionals.
Just because a man is smart doesn't mean he is smart about the market and how it works. That's why brain surgeons routinely give their money to stock brokers. Get enough doctors and lawyers on your list and you can pretty much get them to bail you out of any situation you have got yourself into.