I would go as far as agreeing with you. If one reads his book well and understand his articles, one will know when most of the suckers are making their move, and use their orders at least to get out, if not fade them.
What surprised me that Al said he didn't make much out of his book's sales. He says trading books are low volume sellers and he got a tiny % of the sales... I guess they are only good for generating PR....
Very few authors make money on books (I wrote one myself (non-trading)--I donate the royalties to charity). New authors of trading books are lucky to receive much more than 10K for a book. Al admits that he wrote it for ego and for glory. That is probably true, lol, beacuse there is not that much money in it. Many vendors use books as a printed infomercial of sorts to sell higher-priced videos, workshops, and DVDs. Wade Crook (Cook) was a master of that, before he went to prison.
Wade Cook went to prison for tax invasion. Prior to that, he primarily used radio (paid commercials) and post office junk mail to market his books, higher priced videos, workshops and DVDs. Post office authorities said he had paid as much as 1 million dollars to market his stuff prior to him & wife being convicted of tax invasion. Although he's in prison, his business is still in operation under a different name (I believe via his own name) although scaled down until he is released from prison. Unfortunately, part of his sentence was not to stay away from selling those seminars...just to pay his taxes if he makes money. He did settle all complaints against him from the SEC, FTC and many different states Attorney General offices...a slap on the wrist at the time for him. By the way, here's my favorite list of folks that have been convicted of tax invasion and some actually went to prison while others got probation for their crimes: 1. Movie star Wesley Snipes 2. Country singer Willie Nelson 3. Baseball star Darryl Strawberry 4. Former Vice President Spiro Agnew 5. "Survivor" Richard Hatch 6. Heiress Leona Helmsley 7. Mobster Al Capone 8. Tennis star Boris Becker 9. "Hollywood Madam" Heidi Fleiss 10. Martha Stewart (insider trading and tax invasion or maybe it was lying about such to federal authorities) I wouldn't be surprise to see Charlie Sheen and Nicolas Cage on the above list sometime soon. Also, didn't U.S. Secretary of the Treasury Tim Geithner get a slap on the wrist for failing to pay taxes and he said it was a "simple mistake". Other famous tax cheats @ http://www.walletpop.com/photos/famous-tax-cheats/ Don't mess with the IRS Mark
Tax invasion...what a dorky move. Invading a country to pay taxes in it. Is that it?. Either that or wrbtrader is a moran.
shakira You're an obvious troll, instigator and a useless member of Elitetrader. Further, you're also a liar via the fact you stated you put me on your ignore list after I updated my ignore list with the username of someone else. http://www.elitetrader.com/vb/showthread.php?s=&postid=3100983#post3100983 I've now added your name to my ignore list because members like you should be banned for adding nothing to this forum. Anybody else that wants to add you to their ignore list just like I have done after this message post can simply click on the link @ http://www.elitetrader.com/vb/member.php?s=&action=getinfo&userid=113228 and then clicking the ignore "Add shakira to your ignore list" url in his profile. Mark
I don't know about Al, but I sure as hell do not and never will belong to the 1-pt ES scalper crew. Nor will I ever sit up all night at the screens trying that in globex hours. I do know I like CL trading very much, and only a fool would settle for +$50 contract trading that symbol. back to the topic at hand, and I'll leave this conversation to those who care rehash it more... imo, the purpose of a live room operation would include forecasting where price is likely to trade in the near future based on reading price action itself. it would also include pointing out key entry zones and exactly why they are such, choices for stop management and why, choices for profit exit management and why. in other words, specific discussion in real time of trade examples, from pre-entry to exit closure now I guess I could be wrong, and those simple criteria aren't considered important aspects for live-room clients sitting there expecting some type of educational demonstration. if indeed I'm wrong about all that above, let me apologize for the intrusion please do carry on without me