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Old Aug 26th, 2009, 07:17 PM   #31
xenix
 
 
Join Date: Jul 2009
Posts: 42
Quote:
Quote from TheBestGuruEver:

Hello my guru pupils...

today's lesson: never wrong with breakouts.
.
.
.
Why do I get the feeling I'm at grifter school?

I'm kidding. Very informative. Thank you.
    Quote
Old Aug 26th, 2009, 07:43 PM   #32
MandelbrotSet
 
 
Join Date: Dec 2007
Location: ...
Posts: 7,246
Quote:
Quote from xenix:

Why do I get the feeling I'm at grifter school?

I'm kidding. Very informative. Thank you.
Nah.

Actually you're serious.

That's the whole point of the thread.
    Quote
Old Aug 26th, 2009, 09:40 PM   #33
mitsubishi
 
 
Join Date: Jul 2006
Location: ipswich UK
Posts: 269
Kick start your career by making outrageous calls.Like,oh i dunno, spx 998 on the 2nd/3rd sept.Just need to be right once.One advantage is nobody will insist on seeing your trading accounts.
In fact,might as well make that a solid call... (subject to the market NOT making a slightly higher high,otherwise i reserve the right to make my 2nd,revised outrageous call!)
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Old Aug 27th, 2009, 01:20 AM   #34
TheBestGuruEver
 
 
Join Date: May 2009
Posts: 183
Quote:
Quote from mitsubishi:

Kick start your career by making outrageous calls.Like,oh i dunno, spx 998 on the 2nd/3rd sept.Just need to be right once.One advantage is nobody will insist on seeing your trading accounts.
In fact,might as well make that a solid call... (subject to the market NOT making a slightly higher high,otherwise i reserve the right to make my 2nd,revised outrageous call!)
Absolutely. Or, do one video calling a top, and then another video going with the trend. Then go back and say "I told you so, I called this, I knew it!!! CNBC was wrong but I am the guru!!!"

What gets me so upset is that the Gurus are so MATTER-OF-FACT, as if they really understand the market and their way of trading is far superior to anything else out there. Then, when you ask about another guru, they bash them to no end.

LOL

A good track record gets you away from the internet guru realm, so they must not have one.

Every guru I knew (I think I knew SEVEN) had very similar characteristics. Crappy method, tried to sell crap without showing actual trading accounts -- all of them -- (they never show the big losing days, which are huge), and they push stuff while leaving out very "important" stuff they keep for their own (it's crap what they don't give out anyone). They then force this kool-aid onto traders and I really think almost 100% fail. Traders with 15k spend 2k on "education". LOL. what morons.

A good guru will buy and sell two very similar stocks or futures contracts and then ONLY show the winner during their seminar. One account for this, one for that...

And tons of people fall for that one.

When they show one winner per month, just imagine what the bad days are...

LOL
    Quote
Old Aug 27th, 2009, 10:20 AM   #35
Trader666
 
 
Join Date: Sep 2004
Posts: 9,002
The Jack Hershey Method of Gurudom has proven effective for over a decade:

1. Seek out locations like ET that are teeming with newbies and wannabees who have a desperate need to believe

2. Troll for followers with grandiose claims, both trading and personal

3. Peddle an incomprehensible "method" with its own jargon that can only can be learned from you or one of your stooges

4. Speak in riddles and gibberish to keep followers hanging on your every word and believing their lack of success is because they didn't grasp the full meaning of your "wisdom." This also makes the "method" nearly impossible to backtest... but if you do mistakenly state something clearly enough for others to test it, attack backtesting and whoever ran the tests

5. Constantly berate the "conventional wisdom" and "detractors"

6. Make up success stories about followers who were willing to "do the work" -- even if in reality they went down in flames

7. Never, ever do live trading or show any proof of success (because there is none)

8. Foster a cult-like atmosphere

9. Keep things fresh by promising new things on the horizon that will never materialize, like books and automated trading platforms

10. Find someone to support you so you can play pied piper full time
    Quote
Old Aug 27th, 2009, 11:40 AM   #36
mitsubishi
 
 
Join Date: Jul 2006
Location: ipswich UK
Posts: 269
Quote:
Quote from Trader666:

The Jack Hershey Method of Gurudom has proven effective for over a decade:

1. Seek out locations like ET that are teeming with newbies and wannabees who have a desperate need to believe

2. Troll for followers with grandiose claims, both trading and personal

3. Peddle an incomprehensible "method" with its own jargon that can only can be learned from you or one of your stooges

4. Speak in riddles and gibberish to keep followers hanging on your every word and believing their lack of success is because they didn't grasp the full meaning of your "wisdom." This also makes the "method" nearly impossible to backtest... but if you do mistakenly state something clearly enough for others to test it, attack backtesting and whoever ran the tests

5. Constantly berate the "conventional wisdom" and "detractors"

6. Make up success stories about followers who were willing to "do the work" -- even if in reality they went down in flames

7. Never, ever do live trading or show any proof of success (because there is none)

8. Foster a cult-like atmosphere

9. Keep things fresh by promising new things on the horizon that will never materialize, like books and automated trading platforms

10. Find someone to support you so you can play pied piper full time
Yup, pretty much a perfect description nicely contained within the rule of 10 (somethin that does actually work)
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