Couple mos. ago I picked up a friend who also trades at his hotel near the L.A. airport . Sammy Chua was giving a seminar , we had time and went in. It was 6:00 am and there was standing room only. I was shocked to count over 200 people, some were obviously dressed for work , most not. He was giving three two hr. seminars that day. No idea how well attended the other two were. They were all live trading during mkt hrs. I'm an advertising/marketing guy and a veteran of dog and pony shows. I'll go to these just to see how they pkg. them. Went to a Wade Cook seminar once. It was a very slick presentation. Slick, glib sales guy rattling on as Sammy sat at his laptop with a screen behind him displaying his page layuot Think he was using cybertrade. Top of page had three small charts, 3 min. spoos, nazdogs, stk. symbol, all in line . Next were a couple charts of his target stk. and then the indices., Next window was his private chat room supposedly comprised of paying people who had taken his courses. The type style was bold and maybe 10 lines were visible as the page scrolled by. This was the subliminal sales tool. As Sammy rambled around looking for a play things would scroll by in the window like, "took EMLX for 1 1/2 "or "out NVDA for 1" Never were entries stated. These were only intermittantly mentioned by Slick. Sammy , who never found even one play, answered stupid questions and pretended to barely notice George and Ralpie in the chatroom knocking off 3-5k. This went on for an hr, then coffee break . A woman was lamenting to another about taking Wade Cook classes for 8k and people were all over the product display table talking to sales guys. The tapes, classes etc. were $4,500- $10,000. We had a plane to catch, George and Ralphie no doubt were up a 100k buy days end and Sammy was on his way to N.Y. for three more seminars. I remain continually amazed.
Several months ago I wrote several reviews of some Wade Cook books on Amazon, they were a little harsh, but fair. So I happened to stop back at the page and noticed quite a few more people were having A LOT of SUCCESS with his methods. Should I A-- Start using his methods since they are legitimate? Should I B-- Go to the CyberCafe near my house and spend all night writing scathing reviews under made up screen-names? Should I C -- Keep putting in the 10-12 hours a day looking for trade ideas and accept that there are no free rides on Wall Street.
D Write Wade Cook a grateful thank you note for providing a steady flow of naive newbie cash to line your pockets with.
Wow, thought I was the only one at the terminal this time of day. The last few years I have wrote a good number of puts and calls, and someone has to buy them from me. The funny thing about hard work is, and I kid you not. I had just pulled up a chart for (Don't be a touter) and Jonathan Hoenig recommended it on Cashin In on Fox. The sheep will be in my shearing shop come Monday.. Have a nice weekend, off to dinner with the misses. She wants to go to one of those places where they cook in front of you. So I am trying to decide between Subway or Waffle House. Regards
This is probably a dangerous thread to post my first posting onto but there are only a few things that a person only gets to do just once! There - that was good for me DT