When I was learning to fly I thought I was about to join an elite fraternity. People that had more of the attributes that I admire and less of the attributes that I abhor. Than I encountered all the RAPs and I was disillusioned. But I was less mature then. It seems RAs or just AHs permeate all parts of life and one just can't get away from them. But they have their weaknesses and I've become pretty good at exposing and exploiting them.
People will do anything if they think they can get rich quick, be it some kind of real estate course, affiliate marketing, selling on ebay, or some other crap. Day trading isn't any different. If people are sold on the idea of : 1. make your own hours 2. be your own boss 3. have unlimited earning potential 4. make a million by next week, GUARANTEED & RISK free then people will fall for it. A little quote from The Boiler Room: "I read this article a while back, that said that Microsoft employs more millionaire secretary's that any other company in the world. They took stock options over Christmas bonuses. It was a good move. I remember there was this picture, of one of the groundskeepers next to his Ferrari. Blew my mind. you see shit like that, and it just plants seeds, makes you think its possible, even easy. And then you turn on the TV, and there's just more of it. The $87 Million lottery winner, that kid actor that just made 20 million o his last movie, that internet stock that shot through the roof, you could have made millions if you had just gotten in early, and that's exactly what I wanted to do: get in. I didn't want to be an innovator any more, i just wanted to make the quick and easy buck, i just wanted in. The Notorious BIG said it best: "Either you're slingin' crack-rock, or you've got a wicked jump-shot." Nobody wants to work for it anymore. There's no honor in taking that after school job at Mickey Dee's, honor's in the dollar, kid. So I went the white boy way of slinging crack-rock: I became a stock broker. "
these vendors can walk away because it is unregulated. The gov are too busy issuing fines on regulated brokers, brokerages, mutual funds. If one establish a educational website, it is easy to misrepresent beginners.
It's not just scam vendors like profit logic and jack Hershey bar that attract noobs like flies to garbage. It's the entire market machine that convinces people of the riches are easy. It's needed to feed the machine. The gambling urge of something for nothing is what makes the market tick. Then the vendors come in to feed on the scraps with Outrageous claims like profitlogics perfect trading system and jack hershey's 3 times daily range claims. Left overs can make them wealthy.
This from a banned poster named David Goodboy . . . aka MarketSurfer . . . aka one hundred other banned aliases. This guy couldn't post a winning trade if his reputation depended on it . . . oh, he did and they lost a bundle. His idea of quality trading is the typical hedge fund pump & dump. The only way he earns a living is from the commissions hedge funds pay him for bird dogging old ladies pension money.