I started a what does it take to make it big (as a trader) thread and Efficient Market Theory pretty much won on that thread. So now i want to know what does it take to make it big (as a vendor). Now I know vendors are universally despised on ET - i suppose because a lot of ETers got scammed by them - as anyone deserves to be if you're looking for the Holy Grail. But the bottom line is that vendors bank. Just look at: LBR - market wizard turned vendor, Dan Zanger - world record holder, and there are many other lessor known guys that pull in 7 figures from vending. I remember seeing Martin Zweig's NYC penthouse being put up for like 80 mill on the forbes site. Zweig has to be the richest vendor ever. The kinds of vendors: - Chat room operators. - Newletter guys. - Signal sellers. - Mentor/Couches.
Who makes the most? I'm guessing the newsletter guys. And are they worth it? It depends so long as you don't follow every call. But all it takes is one great call to make a newsletter or signal service worth it for a lifetime - just one great idea. Like getting long oil and energy stocks when oil was $10. Just sticking to one great call like that can make your entire career. Like Bill Gates said: "good artists create, great artists steal"
To make it big as a vendor you must get really lucky with a "system". Any system will do, as they all, from time to time, will show a great run. Should you be fortunate enough to time that system with the good run you then have some shit to sell. Now you need a knack for marketing, or know someone who does. You aggressively market you system with your FANTASTIC results. You sell many systems as failing traders are like failing salesmen. They're always looking for the easy money. At this point the law a large numbers helps you. We all know if you throw enough shit at the wall, some of it will stick. You now have testimonials. Viola! You're a guru! As an edit, Should you choose to then go on the speakers circuit, being able to lie with a straight face is an asset.