Here are some tricks that vendors may use to try to manipulate, mislead, or coerce:
1. Share information that seems important while leaving out information that is really critical information.
Examples:
Rob Hoffman's 99% Winning Record
Critical information left out: His annual return and risk-adjusted metrics
I made $x today/this year/etc
Critical information left out: Account size, risk taken, probability,
Show great closed equity curve returns:
Critical information left out: Open trade drawdown.
Profitable for X years in a row
Critical information left out: net return, risk adjusted return, what happens when you lose, what it by chance -- often with mutual funds it is result of picking a market that is bull market
Make a good sounding market call
Critical information left out: It must be falsifiable. Virtually no commentators will make falsifiable predictions.
2. Allow you to dream up their results. Ie, Make claims they can't show/tell how much they make but also at same time hint around at making a fortune.
Example:
Hubert Senters is excellent at this trick. The trick is to get you to IMAGINE and DREAM whatever feels right to you. You see variations of this trick on infomercials where you have different people claiming to make varying amounts of money. Why would they talk about someone who only made 1k with a method when others were making 5k? The reason they want to throw a bunch of numbers out is they know that you've a number/something you believe you can do. So, that's the purpose of it.
The trick is to get you to DREAM up something that you like. You'll associate your DREAM figures to this merchant while the vendor actually makes NO CLAIMS.
3. Apply high pressure sales tactics/defense tactics.
Example:
TradingAdvantage.com became very defensive and aggressive when I ask for real money results. They talked about how SEC/NFA would shut them down etc. The objective with this is to both silence rational thought while also creating a sense of urgency/pressure and take command of the situation. Another variation is to provide a reason for anything, it will make it believable.
4. Act like they know someone famous/be someone in know/ get on tv.
The purpose is to give impression they are insiders. I.e if I Know this famous trader or person then surely I know what I'm talking about and you should pay me. A lot of ponzi schemers got on TV and used that for credibility. The stations don't check anyone. So be careful.
5. Create an illusion of scarcity
Many tricks to this.. special time offer, rebate. One vendor who I wasn't even signing up with said "I won't take you on." and made it really obvious he wasn't going to consider me as a student. Why would you do this? Again.. you want to create an illusion of scarcity.. an insiders club.
John carter/senters use this tactic with special sales/etc. Others will have limited copy or special promotions. Of course, these are general sales tools use by legit business but best be aware of them.
+1 more
Make a deal/give away something for free
1. Share information that seems important while leaving out information that is really critical information.
Examples:
Rob Hoffman's 99% Winning Record
Critical information left out: His annual return and risk-adjusted metrics
I made $x today/this year/etc
Critical information left out: Account size, risk taken, probability,
Show great closed equity curve returns:
Critical information left out: Open trade drawdown.
Profitable for X years in a row
Critical information left out: net return, risk adjusted return, what happens when you lose, what it by chance -- often with mutual funds it is result of picking a market that is bull market
Make a good sounding market call
Critical information left out: It must be falsifiable. Virtually no commentators will make falsifiable predictions.
2. Allow you to dream up their results. Ie, Make claims they can't show/tell how much they make but also at same time hint around at making a fortune.
Example:
Hubert Senters is excellent at this trick. The trick is to get you to IMAGINE and DREAM whatever feels right to you. You see variations of this trick on infomercials where you have different people claiming to make varying amounts of money. Why would they talk about someone who only made 1k with a method when others were making 5k? The reason they want to throw a bunch of numbers out is they know that you've a number/something you believe you can do. So, that's the purpose of it.
The trick is to get you to DREAM up something that you like. You'll associate your DREAM figures to this merchant while the vendor actually makes NO CLAIMS.
3. Apply high pressure sales tactics/defense tactics.
Example:
TradingAdvantage.com became very defensive and aggressive when I ask for real money results. They talked about how SEC/NFA would shut them down etc. The objective with this is to both silence rational thought while also creating a sense of urgency/pressure and take command of the situation. Another variation is to provide a reason for anything, it will make it believable.
4. Act like they know someone famous/be someone in know/ get on tv.
The purpose is to give impression they are insiders. I.e if I Know this famous trader or person then surely I know what I'm talking about and you should pay me. A lot of ponzi schemers got on TV and used that for credibility. The stations don't check anyone. So be careful.
5. Create an illusion of scarcity
Many tricks to this.. special time offer, rebate. One vendor who I wasn't even signing up with said "I won't take you on." and made it really obvious he wasn't going to consider me as a student. Why would you do this? Again.. you want to create an illusion of scarcity.. an insiders club.
John carter/senters use this tactic with special sales/etc. Others will have limited copy or special promotions. Of course, these are general sales tools use by legit business but best be aware of them.
+1 more
Make a deal/give away something for free
