Crimeny. Who gives a damn if theres a million of em out there sellin stuff. Why should trading be any different than any other part of society? This is capitalism. They wouldnt be there if there wasnt a demand for their product. If they aint any good they wont last long. Thats the beauty of free enterprise.
The question you may ask is that "if you can make all this money trading why waste time writing books and giving seminars". No....the question that should be asked: "if you can make all this money writing books and giving seminars, why waste time trading?" Then it all becomse so clear to the point of clarevoyance.
not what you think....not how you feel.....not what you read....not what your buddy tells you.....Determine key S/R levels...trade with the trend.....and you'll be surprised how much easier it is to turn a buck. Trading is the ability to identify FEAR and PANIC. How do we do this? It's simple...the charts. Here's a few fwiw: http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID84719
tampa, Allen, praetorian2, tymjr- Great stuff! Trading is a lot like playing poker, the horses, trying lawsuits, "practicing" medicine; a mix of intellect, intuition, preparation and practice. preatorian, you're my kind of trader. Hope I can grow up and trade just like that. honus:
There are definitely secrets that are not widely known. Good ideas are kept very quite. Try calling any futures prop firm and ask them to reveal their strategy. Just make sure you hold the phone away from your ear when they start to laugh at you.
quote "The best you can do is to take some out of the middle. Thatâs what trading is all about. No top picking, no bottom fishing. The best you can do is to take some out of the middle. Thatâs what trading is all about. No top picking, no bottom fishing. Just high probability, low risk plays in-between. . As for that âedgeâ everyone is always talking about? Itâs knowing that the other guy doesnât really have one, but thinks that you do!"--tampa ("Just high probability, low risk plays in-between.") Those type of plays *are* one's edge. That's the point. Being able to identify those type of trades. Of course, there's no fail safe 100% methods. But there are high probability, low risk plays. Combined w/ money management, pulling the trigger etc. ....there's your system. :] Mike
Not that this deserves such a long answer, but it comes up so darn often... Demand for the product will always be there- every body wants to make money. The problem is not everyone will due enough due dilligence to discover the pure cons from the so-so stuff out there. In every other profession, you assume that someone selling a book or seminar has the ability that they are trying to teach. A photography professor can take pictures, an auto mechanic teacher can fix cars, etc. The difficulty with many other professions like photography or fixing cars, is that your time is fixed. If you work hourly you can only make so much. You could open a shop and hire/teach others and make more. You could teach or write books and supplement your income. That difficulty does not exist in trading, where the power of leverage and compound interest assumes a successful trader would have an unlimited peak potential to earn income, limited only by liquidity. Why would a successful trader go through all the effort to sell books/seminars/systems if he was climbing this peak income potential? Also, the by-product of trading is money, whereas the by-product of other professions is not money, but can be sold/marketed to earn income. A very good photographer or mechanic may not know the best way to market his/her skills; teaching is one way to add income. It's like saying that I can turn lead into gold, and I'll teach you how for a few gold nuggets. Why would I teach you this ability when the by-product of the method is the same as your form of payment? How about two real life examples- Carlton Sheets makes a lot of money selling books and seminars, but he also has the ability to buy/sell real-estate. In addition, the ability to buy/sell real-estate is limited to various market conditions, demands, # of hours in the day, etc. Ken Roberts makes a lot of money selling books and seminars, but he can't trade worth shit. Ask any trader who has at least 1 year experience, profitable or not, who has taken his course and they will tell you Ken Roberts is full of shit. Everything Ken Roberts touches is full of shit- from his marketing materials to his courses to his brokerage account that charges $95 R/T-- but he sucks them in every day and he is a multi-millionaire. It turns out Ken Roberts knows how to turn shit into gold.
<i>There are definitely secrets that are not widely known. Good ideas are kept very quite. Try calling any futures prop firm and ask them to reveal their strategy. Just make sure you hold the phone away from your ear when they start to laugh at you. </i> Why are they laughing? Because there aren't any secrets?