Some people just have a knack...I went to observe a seminar from a well known GURU in early spring...he threw out 4 winners to look at to buy and or short....I wrote them down but didn't act...he was absolutely correct....then I went to another one in MAY of this year and he gave me personally 4 picks and reasons why....i promised i would act...three days later 3 of the 4 were exactly as he said , but the 4th one was not!!!..( he said to short it at x price)...I took such solace in knowing he was not perfect and that it was all a crap shoot...two days later this stock dropped six points in a day!!!....his classes are about 2500 for a weekend and then you can trade side by side with him and get the newsletter...Im ashamed to admit that i still haven't acted yet!!
well once again i'll say this. i see it simply... just like 90% of traders are losers, 90% of vendors are losers too.
what are you smoking? do you really believe that 90 % of all traders are losing? did you inhale? Don't be dramatic ..yes some are losing money but 90% pretty high don't you think ?
Simple there is nothing like experience and with that is experience from the right people. If you are prepared to put your ego in your pocket and do the hard work than you have every chance of succeeding. Incidently anyone I have ever seen say "those who can't trade teach" etc has had an ax to grind and never been a success. More imporatantly they have an ego they are trying to suffice. Trading is so personal it is what works for you that will work!
About six or seven years ago I paid $2000 for a five day seminar with George Lane. I have no regrets. I was so ignorant about this business. I had no idea what software to use. What data? What time period I should use? Was I looking at stochastics the way I should? (in case you don't know who George Lane is, he's considered by many to be "THE" authority on stochastics.) Anyway, I think I can truthfully say, that $2000 probably saved me about $10,000 in newbie mistakes. I made back the $2000 plus traveling expenses trading the setups he taught me. As we become more experienced, we tend to forget how ignorant we were when we started out. If I took the same course today, sure, it would probably be a waste of money. But, for someone just getting started, I think people like Mr. Lane provide a valuable service.
Yes, Well said that is what many people do forget - sometimes intentionally, I guess our egos but the market has a nice way of reminding us doesn't it? I believe there is someting new everyday to learn and when ever I think I know it all - bang it hits me right in the bum!
David Nassar is on the local radio every Monday. I think you can hear him until 12:00 eastern. http://www.thezone760.com/listen/live.html
Trading is kind of like using a chain saw for the first time. You don't need to attend a seminar but there are a few basic safety rules you'd better learn.