100% agreed... and #s 1 and 3 are both in it for the emotional gratification. #1 for the excitement and thrill, #3 for the potential satisfaction of ego = accomplishment = competition = measurement. Both are equally probable to fail in the end. Only #2 is really, truly willing to do whatever it takes to succeed over time
I'd take it further to say that #3 would be best if one cared more about the 'quality' of the trades than the action or money, which is what I think you were alluding to. If the trades presented good risk / reward set ups with clearly predefined entry and exit strategies PRIOR to entry. Not all profitable trades are necessarily 'good' trades and like-wise not all losing trades are necessarily 'bad' trades.
Hoffman no longer at TradetheMarkets? I see that almost exactly one year after he lost the $300K in the TTM trading room Hoffman is no longer with them. Anyone know why?
having some courses of Mr. John Carter Very glad to share here when i can get the Mod's allow. Thanks.
I have purchased many items from John Carter and had been impressed with this apparent knowledge of the markets. I believe that in most instances he is the real deal, but if he is making so much money trading, why so much emphasis on always selling indicators, books, courses, mentorings.......everything he does I am sure makes me a ton of money. Most traders who are really engaged in the markets do not have time for mega marketing in this fashion. My disappointment came to a head when I succumbed to one of his pitches on participating in trading around earnings. I did one earnings trade based on his evaluation and upon its release the next morning, I was immediately under water by over $3000.00. I begged for help with this and all I got was a Ho-Hum response, "you can try this, or you might try this." I know only too well that trying to repair a trade gone bad is probably throwing good money after bad money, but I thought, I should trust this guy. I used the same basis he recommended for doing a repair, but placed a repair trade that was more conservative to help repair some of the damage of the overall trade. Immediately after taking this repair trade, it began going against me, and I was in total disbelief that I could be so ignorant as to be a victim of this strategy. Rather than let this repair trade go totally against me for another 100% wipe out, I exited it rather quickly. What was the total damage for this ridiculous scenario? I lost a sum total of $4365.00. What a rude awakening for me. I will never ever for the rest of my life do an earnings trade in this fashion, and I most certainly will not be at all gung ho on any furture recommendations made by Mr. Carter. What a total complete waste of my time. But Mr. Carter is a happy man; for each course he sold, he made close to $300, resulting in a nice little bundle, regardless of the outcome of his trade recommendations. What an ingenious way to make money.
I once bought one of Carter's worthless books from amazon when I was clueless, and later dumped it into a donation book bin.
What the general public don't know is those who have extensive products often have 3rd parties trying to do cold calling and they make like 35-50% of fee charged, so like the guy you were talking might not know much beyond the selling pitch. I remember some years ago some company who had $5,000 software based on red/green arrows, since I wasn't interested in buying the program, asked if I wanted a job selling it and offered me 35%. One minute some guy selling coffee machines and next day selling trading software.