What percentage of "trading services" are a scam?

Discussion in 'Educational Resources' started by blackchip, Jul 5, 2007.

Percentage of "trading services" that are a scam

  1. Why ask? All of them.

    28 vote(s)
  2. More than 95%.

    47 vote(s)
  3. More than 80%.

    22 vote(s)
  4. It's all good - I'm starting my own.

    10 vote(s)
  1. Chat rooms, stock picking, timing, etc.

    Take the poll :D
  2. LT701


    they all tend to end their 'amazing record' the day you sign up
  3. u21c3f6


    Scam might be too harsh.

    Yes, there are definitely scams out there but I think some of them truly try to offer a service. I just don't think the services are that valuable.

    IMO you are better off doing your own research and tailoring your own "service" to suit your personality.

  4. By scam I mean charging money for something that doesn't work or isn't profitable.

    Selling something like snake oil to desperate people or preying on people's gambling inclinations.

    Does anyone think I should have included lower % categories? I guess that would be more "scientific". Oh well.
  5. bluud


    I promise you that mine isn't ... I swear to God ... and yes we do charge high fees for the service ... but we give trade plans that are without error ... like if it were today we would email you to buy AAPL @ 127.90 before hours and to sell at the end of the day @ 132.95 ... yes we are that accurate ... and we will offer you a discount if you sign-up today ... the regular price is $68,000 ... but with discount you can get this great annual service for only $12,000

  6. Oh yeah. They always have a special discount if you sign right away!
  7. bluud


    Oh and by the way we only accept money transfer made to our companies foreign bank account.

    Contact Email:

  8. Digs


    There are good ones out there. The internet allows you to meet a few excellent providers and also some real barstards.

    I seach forex providers and there worse...check out this site for confirmation...www.forexbastards.com
  9. Your poll is most like something from a person on the outside looking in.

    Often journalists do research and post articles on trading. The magazines carry articles month after month and year after year. Again, it is like they are outside looking in.

    What do you think your experience wolud be like were you to have seen people trading at expert level and they were willing to answer questions from someone there with you who could pose appropriate questions?

    Maybe a graph of knowledge versus time could emerge from a series of observations and Q & A's.

    At some point you may begin to get a picture of what it is like to go about setting up a package for transferring what it takes to be an expert trader.

    There are very few people out there who get to the place where they can judge what is good or bad or what is necessary to be good or expert at transferring the package needed.

    I have just completed the trader's Expo cycle of vegas, New York and San Diego. three or four day shots of presentations, etc. that run from 7:30 am to 10 pm. I take an average of one pad a day of notes. It was a prelim for me to be able to get down on a series of books that I am completing.

    I asked questions of the presenters. And I met a lot of people along the way.

    By reading a lot of books and being an adjunct prof at various schools and by being connected to the financial industry and its performers, I am at a place where i can jdge the situations, circumstances and situations that relate to tranference and how to do transference to enable a person to be very expert and very successful. It is a one pager. The one pager does not apply to the delivery system but it does apply to the candidate who wants to become a trader.

    There is no way anyone can train a trader if the potential trader is not available. "Available" means that the potential trader is there, open minded and ready to work on day one. After day one, it is a matter of purposeful learning through a prescribed process.

    What most learning support systems offer is an opportunity for learning "repeated failure". The end of the course in repeated failure has definable and irreversible consequences best described as the Lizard Syndrome. This is a psysiological and psychological condition whereby the learner has reached a frozen state that no longer allows him to be a trader.

    Your poll is measuring the potential trader's view of how far along he is in the process of learning repeated failure by not being purposeful.

    1. The potential trader is there means a person has come to a point where he knows he has to work in a specific way. He has to be able to recieve input and that input has to be processed rationally and objectively. this means a person has to very quickly figure out to quit improper learning as soon as possible. This almost never happens because the person is not focussed on learning but is focussed on something else, usually money.

    2. Open minded means that the person has not crossed the line into the conventional orthodoxy of the financial industry and he still has no baggage from the process of growing up. this is rarely possible and most often the person is availing himself to something that is presented to take advantage of his preoccupation with convention in one way or another. He is a dead duck and he bought the farm already.

    3. Ready to work on day one. Usually, no one is ready to work in this society. Work requires that a person give time and energy and that is not in the cards these days. Getting is what people do now. And they reward themselves for getting a shortcut done and bragging about it. If a person understood that business requires a business plan, then he might understand that to work on day one it takes a business plan on day one. It takes a long time to come to day one. It takes something in one's character to be able to work. Working is a process and on day one most potential traders are literally months away from being able to work on learning how to trade. Instead they do things like buy a book or take a course or go to a meeting or get a video. A person may be living with a family. He may have to support them. He may know that keeping relationships takes a lot of resolve, energy and time. To learn to trade means something has to change in the way things are. Shirking on responsibilities to squeeze in time to trade and learn to trade is an unplanned and irresponsible activity. People who do this are clowns.

    After day one, it is a matter of purposeful learning through a prescribed process. LOL..... you get the picture. the stuff being pooled about doesn't have anything remotely related to purposeful learning. The potential learner doesn't have a business plan nor a learning plan or anything remotely related to that.

    Conventional othodoxy has three consequences that are being measured so far: fear, aniety, and anger. Successful traders exhibit fear anxiety and anger when they are operating in the conventional orthodoxy. Potential traders start right off to learn fear, aniety and anger. Repeated failure is the main theme of their learning process.

    There are some really weird ideas out there that the financial industry is terrific and there are a lot of smart people out there that have learned a lot. There are top business schools and tier by tier they kick into play to educate the youth of the world to make things really work. One person at the tradere's Expo in san Diego explained to his audience why he gave up trading and now helps everyone out. He said he was too old to handle the pressure and now it was his time to pass what he knew forward.
    I asked how he felt about a trader staying in the market all of the time at age 74.

    I rarely miss a presentation by John Carter and his side Kick Hubert Senters. In his book Mastering the Trade on page 392 he starts through a list of: 40 Trading Tips for Maintaining a Professional State of Mind.

    number 8: "Be patient and wait for 3 to 5 good trades."

    Here are two lessons: Be patient .... Wait.

    I am in the market all of the time. I do not do patience and I do not do wait.

    I am in the market because I have to to make money. to make money I must be in the market.

    Since I have to be in the market, I absolutely know I have to be on the right side of the market. So what is the title of the lesson for being on the right side of the market? It is the lesson for knowing when to change sides of the market. That is my "wait" lesson.

    John teaches waiting from the vantage point of sitting outside the market. I would teach, were I to teach, to teach from the vantage point of being inside the market. I do not understand how it feels to be in and out of the market. I do think it feels different. For those who enter and exit, I believe that they feel fearful, anxious and angry. I believe it is better to be in the market and be on the right side of the market and feel supported, comfortable and confident all day long. Waiting is best done as a consequence of holding as price changes and more and more money is being made.

    John Letto does the "One Shot, One Kill' (His Wiley book) Semper Fi thing. Half of one of his presentations to get oriented is how the parts of a business plan work. As a Marine in Tokyo his job in the local languages was to help visitors get to the right places in the Embassy. He got to the Embassy because he learned Chinese and Japanese on the side when he was stationed in Japan. He does not wait or be patient. He is all in and on the right side of the situation. He plays poker at the big table and he does the line on college football in Vegas. John got interested in trading when he was 11. He got out of high school with a 1.7 average and joined the Marines. Thank God he is always on the "Great Traders You Have Never Met" panel at each Trader's Expo.

    So, you are the OP and critical thinking has elluded you and most other so far. It has faked out most others whether they are providers or learners. So far trading seems to be the blind leading the blind.

    You can easily see that the financial industry keeps the sort of standards upon which it was built. Money is part of the industry and many many people have found ways to participate. personally, I am sold on pool extraction as a steady diet; it is always going on and staying on the right side of the market is the only thing I have to do. This year is our books year; so we will be creating about five more. Our first one sold out the total printing (8 copies) in one day. LOL....
  10. Jack's is and forever will be (ascam) , lol, lol, lol, lol, lol. We are so full of laughter arent' we Jack. A bit of self depricating humor, lol, lol, lol!!!!! I thouht I smelled you in Vegas!!! Lol, lol!!!!! 8 copies, rotfl!!!!!

    :D :D :D :D
    #10     Jul 5, 2007