With all due respect, that's a load of sh*t. I know people who work the promotional angle, and it is WORK- 20 hours a week of your time minimum, if not MORE. If someone is devoting that much of their time to a pursuit other than trading, it is logical and reasonable to question their ability to make a living from the markets. Between market hours and after hours next day prep, I put 12 hour days into my trading. No WAY am I going to spend another few hours dealing with vendors, credit cards, payment software, website issues, chat room garbage, and answering the same eight moronic questions from newbies all the time, not to mention the hassle of employing people to run the stuff I can't handle. How many of the true badasses have "side businesses" hawking subscriptions to novices? None. They either run their own money or run funds, and if they run a fund all the paperwork is outsourced so they can think about nothing but markets 95% of the time. Glad to see you've figured out that I'm an idiot even though you've never even met me and know nothing about me. I'm sure your ability to jump to conclusions based on zero knowledge makes you a great trader.
YOU are the one jumping to the conclusions. YOU know absolutely nothing about Teresa or her services yet YOU JUMP TO THE CONCLUSION that she has nothing or little to offer because you just can't understand why she or anyone would do it. Let's not start another long winded thread about "why oh why would they if they can trade" vagaries. This sentiment has been beat into the ground ad infinitum and to go down that road again is useless. If you have FACTS or a new and different REASONED ARGUMENT concerning the topic, then present it now. If you have new knowledge, let's here it. But keep it specific to the subject matter. No catchy cliches, or witty proverbs, or vague generalities. Let's hear some SPECIFICS! Let's hear some FACTS! Let's hear some real world EXPERIENCES! (as concerns the topic of course) :-|
I'd be happy to talk w/ya if you decide to refrain from calling me names...you're right, I don't know Theresa Lo personally and I don't know what her services are. I do have a background in the biz though, was well connected at one point in time, and I know people who have worked for Wade Cook, Harvey Houtkin, Jake Bernstein, and a number of others. I ALSO know true players, guys who shun the spotlight and trade with eight or nine figure accounts. The uniformity on both sides of the aisle is stunning- one group always seeks publicity, the other always shuns it. One group always has a market opinion and loves to give it, the other group often has no opinion and if they do are hesitant to give it- to anyone. One group makes the bulk of their money from 'alternative streams' as you say, the other group makes so much money from the markets alone that they have enough in their safe as milk IRA to retire five times over let alone what is in their trading account. I also know a little about psychology and what it takes to be successful, and I know that regardless of the quality of your 'guru,' your guru cannot help you. Even the best of the best-guys like Paul Tudor Jones and Vic Sperandeo and Marty Schwartz- even these guys say that of the people they hire and train, people they work with and give full access to them all day every day, even 90% of these trainees allowed to sit at the feet of the masters ultimately crap out and fail. So if most people can't learn sitting at the feet of the masters and having access to them all day every day for months or even years, WHAT pray tell is a stupid subscription going to do for them? The whole concept is a ruse because human psychology does not allow it to work in the first place, it's like trying to put square wheels on a car. Trading success comes from an internalization of the process, not from taking advice from others. Those who have been around the block know this, and those who give advice on a regular basis also have to figure out, sooner or later, that no one is really being helped by pay as you go advice except the advice giver's bank account. So I can't give you XYZ facts about Teresa Lo's methods and advice. But I can give you a pretty deep background in the industry, upfront knowledge of both the real players and the phonies, and I can say without hesitation that paying money to someone else to do the research you should be doing yourself is a sucker's game. I also submit that anyone selling advice that they know is ultimately worthless to those paying for it is the rough moral equivalent of a used car salesman. Capiche? Also, you never addressed my point concerning hours in the day, the fact that it's necessary for a successful trader to devote additional hours each day to what is essentially a wholly separate business. That just don't smell right. If I rattled your cage too much or shook your faith in your guiding light, I apologize profusely.
Brethren Darkhouse and GeeTO69, I lovingly urge you to listen to eachother... you are both making good points; surely a compromise can be found! Love, Candle
its cool candle, not as if we are bringing out the baseball bats and glock nines. I try to make it a point to be fair and reasonable, though I am known to bristle a bit when presented with gradeschool taunts like "idiot" and "duh". p.s. compromise is sometimes the answer, but sometimes it's not.
darkhorse, you points are noted and well taken. a question, would you like to spend a month or two hand in hand with the likes of Paul Tudor Jones or Vic Sperandeo or Marty Schwartz?
To be perfectly honest, at this point in my game, no i would not. Their methods work for them, my methods work for me, end of story. I would love to hang out with those guys sure, have a couple beers, crack some jokes, swap trading stories, kick back in the jets and the yachts- but it would only be a hanging out thing. I am beyond the need of guidance from others anymore. Which is kind of my whole point. When you reach the point of self sufficiency as a trader, you don't need that guidance and you aren't looking for it from anyone, not even your old heroes- because you've found it within yourself.
darkhorse, it appears you have reached the pinnacle in trading, the highest point one can achieve in his chosen discipline where everything that can be known is known, and anything that can be conceived is already understood. Congrats on your omniscience. You should open a chatroom. :-B
By mocking me you show that you are missing my point entirely. I don't know the reasoning behind your shallow responses, nor do I care enough to try and figure it out. I wish you luck in your trading, have a nice life.
the point is pretty obvious. *you* are content is what knowledge and skills you possess. *you* express no interest in anything new or unusual. that's fine with me. if you are happy, i'm happy for you. however, others live for new concepts, approaches, insights, unusual ideas etc. even though we have trading successes to date, we want more. we enjoy more. it's what we like to do. we like to take a Paul Tudor Jones or a Vic Sperandeo or a Marty Schwartz or even a Teresa Lo and get a feel for how they look at the trading world, how they do things, what their thoughts are when and why they place trades. call me crazy, but i like that. and often i get additional insight if not formulaic trading strategies. it's called a life long learning process, and it's fun and profitable. sure, you can "practice medicine" profitably never taking a postgrad seminar, but who wants to do that?