The reviewer used stats Green CPA could get behind with his many print articles written around the early 00s. Maybe WS bets has pushed the stats upward with all the YOLO traders.
Steve Dux is the real deal. I bought his courses Duxinator and the other course (Trading Techniques) and I was a member of his chat room. He traded live and made $5 million a few weeks ago shorting Oil penny stocks that went up 500% in the previous week. It took me about 10 months of losing and learning about myself (fight revenge trading, fight FOMO) but I have made over $100K since I have joined and I started with $20K. Anyhow, I agree with someone's post earlier about how cynical the members of this forum are. No one would believe my gains in another post. Anyhow, all I can say is this: Not all people who give it a chance and try will make it. But if you live life as a cynic, and you never give it a chance and never try, for sure you will never make it!
I vibe with this statement. Not saying all trading gurus are legit since most are not but there are some that are real. A lot of people don't make big money because they don't give themselves a chance to make big money as ironic as that sounds.
And if you live your life as a damn fool who trusts every glib jerk with his money, for sure you'll never make it either. (Feel free to figure out how much, or if, either of those descriptions fits you.) Let's turn this around: say there are 10,000 trading "gurus" out there (sure, there's a lot more - in fact, every single loser who knows even a tiny bit about trading and discovers he can convince at least one fool that he's a genius, and worth being paid for his "knowledge" qualifies.) Let's say it takes you an average of 6 months at $500/month - plus one blown account for every three attempts - to figure out "nope, THAT ONE is a faker." Add in paid shills - or, to give them the benefit of the doubt, current "students" who haven't yet blown out and who have had a few good trades come their way - who post exactly the kind of thing you have ("tried hard, discovered it was my own fault, made LOTZ'O'CASHHH" plus a "motivational message"). NOW: how many of these experiences should a new trader go through before becoming cynical? Is "zero" a good answer, or should they have a blown account and a personal story of being ripped off before they have a "right" to their cynicism? Or should they spend their lives fattening these "gurus" wallets and praying they'll "get lucky"? (It may well be that Dux is actually such a paragon. Or not. My point is that there's absolutely no way for a new trader to judge. But there's certainly a way for their wallet to hit a landmine in just a couple of short steps.)
Hello BlueWaterSailor, I agree with you. All Gurus or Trading Teachers know the famous Trading Business Get Paid Formula: Trading Course Cost : $2000 Number of Buyers: 500 Profit = Trading Course Cost x Number of Buyers $1,000,000 = $2000 x 500 As you can see and already know, it is much easier and rewarding to sell a trading course to XXX customers and make $1,000,000, then to trade and make $1,000,000. The End.
Don't forget those sweet, sweet recurring payments - only $99.99/month, just enter your card number right here! If, say, 50% of the suckers who bought that "course" sign up, that's right next door to $300k/year - and all you have to do is maintain a line of convincing patter (and, of course, give your "students" a "discount" for signing up all their friends - or even [cough] getting people from, say, financial forums to sign up.) That in itself will be worth even more than the initial $1M.
Hello BlueWaterSailor, Oh yeah and do not forget when you email the Guru or call him and say "Sir, I had a bad day and my account is down like $1500, I did everything right, just not working" And he responds "keep working hard" "you can not win every trade" "let me see your chart, well did you see that head and shoulders, and blah blah blah" "you have to practice more" I have even been in chat rooms where if you ask for trading records, you get booted and blocked. and some of the chat room members are paid guru members. Yeah, I ended that bullshit Guru stuff a few years ago. They all are Liars and blowing smoke and scamming people
BWS, imagine how much we could have baffled the world with our BS, you on options and me on futures if we were wired that way to f with people and steal their monies. But we will go to our graves knowing we are honest folks. Sux to be poor, but great to be honestly poor? Hehe.
Hello BlueWaterSailor, Yes agree. I will say again and again. The Trading Industry is the BEST and EASY way to make money in the world. And it is legal. All you need is this magic formula $2000 per trading course 500 customers $1,000,000 = $2000 x 500 When the customer ask/email for 3rd party trading audited track records, just never respond to that customer email. When the customer says I am losing money, just tell them go to SIM or Paper money, for 6 months and practice. Next to selling coke, Trading business is the next good money making business.
https://www.elitetrader.com/et/thre...-500k-on-the-week.346151/page-16#post-5572142 lol, I just tempt you some more.