That is amazing. Do they have CTA's, hedge funds signed on? I'd find it near impossible to believe that there are enough retail traders out there to pay up enough to generate 250k per month.
In person mentoring is also just about the easiest pitch in the world. The person can come down and sit right beside you and see what you are doing live and in real time. I never had to sell it when I offered it. We had a guest house so I'd just let them stay with us for the week and we would work, I'd charge between $5,000 and $10,000 for the week depending upon how long the person had been with me and what other services they had purchased. Whenever I offered the mentoring it was always picked up with in a few hours. Brandon
Steve Forbes once famously said "Far more money has been made 'giving' financial advice than 'taking' it" I read several Carter Books and am net -$500 on his setups stopped using them
Wow. You make it sound so good I almost want to get into "the business". :eek: Edit: Nah, ain't got the patience.
It's not that hard to do. I seriously doubt he has CTA's and Hedge Funds signed up. I have a friend who had a poker site where he sold a course on winning at online poker, did a few online seminars per year and a couple of week long mentoring programs. He was bringing down nearly $500,000 a month with it until he closed it when the government started going after people for promoting gambling if they had that type of site. Back in the late nineties I can think of at least 20 guys who where bringing in 100K + per month off websites selling products to traders. Ken Roberts has a net worth of nearly $400million, all from selling products to retail commodities traders. Larry Williams is also rumored to have an eight figure net worth, as did Wade Cook. There is a ton of money out there, that you can't see it doesnt mean it's not there.
Just to give you guys a few more idea's of how much money can be made on the internet. I've got a friend who is one of the top guys in niche marketing on the internet. He dropped out of school the day he turned 16 and worked as a logger in Northern California for 10 years. In 2002 he started selling a credit repair e-book on the Internet and that was his first business. He's now got 35 sites and brings in just over $1million per month. Another guy is also a very good niche marketing fellow. He was having a debate with some friends about salesman ship. The basic question was if you are a good salesman is it possible to sell snow to an eskimo in a blizzard kind of thing? How can you prove it. He wrote an ebook on the "Secrets of lotto jackpot winners", put up a site and started to write a newsletter, make a couple of videos and get clickbank affiliates. With in a couple of months the site was making over $15,000 a month. To his credit he closed it down once he had proven his point and he donated all the revenue to charity. It was an interesting experiment though. In my own case I have a site where I sell an ebook on candlemaking. I probably spend about 2 hours a month on it and it brings in around $3000. This summer I was in the hospital for over 90 days, almost all of it either in the ICU or isolation since i had both a MRSA and strep infection and was considered very dangerous to the other patience. I was bored out of my mind. Bought a new $450 laptop and I decided to develop a Forex Trading course. I spent about 30 hours putting the course together and another 10 or so making the site (For me making the site is the hardest part because I'm a total technological idiot). I put some videos up, wrote a couple follow up emails for people once they get onto the list, a few free reports etc. I got myself going on clickbank and some other affiliates. I spend about 3 to 5 hours a week on it and it makes over $10,000 a month. If I worked on it as a full time job, offered continuity products etc I have no doubt I could easily knock down $100,000/$150,000 a month with that site. If any of you do happen to be interested in making and marketing a website look up Frank Kern on the net, get on his email list and study the emails he sends and watch is blog videos. The guy is a genious. Brandon
There is actually more money in selling a good product. If your product is not that good people figure it out very quickly and they do not trust you. It's not easy to get a person to buy from you once, but if you provide them with a valuable service it's very easy to get them to buy from you again, and that is where you will make your real money. People who sell a shitty product can make some money, but they are not taking the long view of things. You can make a nice living selling a shitty product, you can make a fortune selling a product that people will enjoy, use again and tell their friends and family about. I realize that a lot of you have gotten screwed over by vendors. There are a lot more marketING wizards in this game than market wizards. That does not mean every single person out there with a product to sell is trying to screw you. The most successful ones tend to care about the quality of the service they provide and do whatever they can to help the customer become successful, because in the end it makes them more so as well. Brandon
That's a very grey area. Some of it is that a lot of these trading systems aren't worth the electronic paper they're written on ... but even if you do have a solid, profitable system, teaching it to people and getting them to trade it exactly as you'v outlined to them can be a chore ... and I really don't see how repeating yourself over and over again to some guy who paid you $3000 a month for your services is worth more than taking an 8 tick profit on 20 to 40 contracts.
It's not really, but if you can do both and it does not really require any extra effort then why not do both?