Gurus Trading Their Own Systems?!

Discussion in 'Psychology' started by Spectra, Apr 3, 2007.

  1. Yep! I've actually asked this question before to Linda Raschke and her answer was something along these lines: Intelligent investors have multiple income streams. Linda has a trading service that charges a monthly fee and I know for a fact shes a great S&P trader. Why doesn't she just trade and not waste time with other income sources??? She also owns various real estate and other businesses. If you see an opportunity to market your skills and make money, you should always take it because you have no idea when one of those income streams may be stopped by some catastrophic event or just fizzle out. Just like diversification in a portfolio. She trades her system and sells her knowledge. Nothing wrong with that.

    Take me for example. I make money a few different ways

    - Programming projects for people
    - Trading
    - Computer Repair/Web design
    - Payout from every month

    I'm decent at all these things but if I just did one I'd probably get tired of it quickly.

    I could just drop everything and trade but that's pretty boring. I also think motivated individuals just like to start new projects and see them flourish.
  2. Uh, Spectra, don't make me start a poll on whether or not you are a guru. Psych hospitals are full of Jesuses, and ET of gurus.
  3. Duref,

    hehe oh no no no I'm not a guru. Im just addressing the question. The resident instructor/trader at puretick is Alex. If you want to call him a guru thats up to you :)

    Anyway, dead zone is about over. Got to get back to the charts.


    CajunSniper / Administrator-Trader
  4. Boib


    If the system is any good he won’t be that busy. What he’ll probably be doing is developing a new improved system.

    Why not sell what he’s got? Most other traders won’t follow it anyway. One or two losing trades and they’ll quit. Especially if the system goes against common wisdom which it almost has to in order to be effective.

    If you have a system that works and you’re willing to share you might as well make a buck.

    I’m waiting for the guru/vendor that will let me trade his system for a percentage of the profits I make.
  5. Hmm... There is a seed of truth in these words.

    Maybe it's really worth to start selling some signals at Collective2 or place like that?

    Will make a couple of extra bucks and maybe even become a guru! :D

    Spectra, how much does your Alex make from your Puretick?
  6. Well PureTick is relatively new. Alex makes more money trading currently but I hope to get PT up to a pretty profitable business as well.

    If your a good trader Cferret then yes , by all means join C2. I don't see anything wrong with it. There are a lot of good traders making money (and some no so good).

    CajunSniper / Administrator-Trader
  7. Don't know if I am good or not, but more or less consistent, enough to live off that and think that selling signals is really not bad idea, considering it'll take just several extra minutes per day.

    Just never before seriously thought that there are really many people around willing to pay for getting trade signals. :)
  8. I dont think what Linda and Alex do are systems. They just know how the market behaves and how to capitalize on it. Support and resistence, pullbacks, etc. Nothing that is not available to all.
  9. Well, there are many systems on Collective2 where you pay a fixed amount $X per profitable trade. "Profitable" as judged by C2, not by either you or the vendor.

    "Reverse % of profits" model like you're suggesting doesn't seem feasible. Think about the logistics involved... too many issues raised, with no mutually acceptable solutions.
  10. Boib


    I agree;

    Look at the amount of trust between the traders here on ET.

    If you could find a way it would be a win/win situation for both buyer and seller.

    Buyers would have access to a system that worked and seller would have an income stream from royalties so to speak.
    #10     Apr 3, 2007