Simple... just short the stocks analysts recommend at their high e.g. Cisco, EMC etc.... and buy on the rebound. That will be $ 300 please for these wise words. I am also willing (at a price) to share my secrets to wealth at the weekly bargain basement price of $ 175 for additional tidbits of knowledge. This invaluable newsletter will be limited only to those willing to pay for the privilege of reading it. Sorry. Couldn't resist. ;-)
Wireless is simply being honest.. he just summarised the truth a) brokers lie their butts off b) trading vendors make more $$ than traders
What do you want to do with your spare time? Do you want to take lavish vacations in the tropics while making tons of money? Haven't you always dreamed of being financially independent? Sucker, if I could show you a way to make 10 times as much money as you do now from the comfort of your own home, wouldn't you jump at the chance? Of course you would. Is this not Amway on Wall Street? Who in their right mind would choose to subject themselves to the general public to share secrets of becoming wealthy? Anyone know when Soros is giving his one day crash course on International Currency hedging?
Exactly. George Soros is not out teaching a 1 day crash course and revealing his trading secrets. Many successful traders do achieve phenomenal returns but keep their trading details private for obvious reasons. If anyone knew how to make a huge return consistently - it would be a closely guarded secret. So called experts claiming amazing returns and selling "trading secrets" are just fleecing naive traders. And getting rich doing so. :eek:
Reminds me of the old joke about sitting at the poker table. If you look around and can't find the sucker, you're probably it.
There is an interesting phenomenon developing amongst the on-line trading advisory community. You would think that they would be serious competitors, but instead principals or prominent contributors at one site are increasingly popping up as contributors at the sites of their apparent competitors. In most businesses it is a firing offence to contribute to the success of a competitor, but normal business rules do not seem to apply in this industry. As an example, check out Hardrightedge. Chris Schumaker, David Landry, Vadym Graifer, Mark Boucher, Jeff Cooper, Joe DiNapoli, Tony Oz and Brandon Frederickson all contibute there, but they are all associated in a major way with other commercial sites. Now Farley of HRE is contributing elsewhere. Dave Landry, for example also contributes to MarketMavens and TradingSubscriptions. Mark Boucher appears at TradingMarkets, HRE and TradingAcademy, and so it goes on. Anyone know why this type of cross pollination is so common in this business? It all looks very incestuous to me.
It does seem odd. What also seems odd is that people desire to give away trading advice. I know rtharp believes that it makes the giver even stronger. But I tell you my business partner has recently given away some of our trading methodolgy and I do beleive it has already made the techniques much less useful. With respect to Boucher I think his info is useful and I therefore assume his notoriety is good for his hedge fund business but what about the others?
Magna, I think that was Warren Buffet who said that. "If you play poker for half an hour and you don't yet know who the patsy is... it's you." I could be wrong but I think it was him. Dufferdon...I have a theory about that. It seems that daytrading is drying up as an attraction. It was cool when things were flying and the public heard lots about daytraders making overnight fortunes, but now TV commercials poke fun at these so-called "losers" scalping quarters and halves in their underwear. I read on another thread on this board that most of the more experienced, consistently profitable traders (a lot of which post here) make most of their money from the newer daytraders. If that's true, the Tony Oz's of the world can't afford to be in competition with each other, they need to work together to keep the new money coming in. Some newbies will do well, but most don't have what it takes to make it. That lost money goes in the pockets of the sharp, experienced guys who are helping them along. Don't get me wrong guys, I'm all for competition and the dog-eat-dog world out there. I've had my share of mondo losses. Anybody who takes my money deserves every bit of it for risking their own to do so. The new guys should be glad to have the opportunity to hear from Tony and the others. My advice to them is check your watch and look out for the patsy!!!!!