I thought I would put some final thoughts here to give you something to think about.
All these guys are hucksters, yes. They do make what appears to be outrageous claims of prosperity but lets bear in mind they all have succeeded whereas you and I may be struggling. Does this mean they are frauds?
Think back to college. We spend hundreds of thousands for an education today. Does the school guarantee us fame and fortune? No, they simply give us the tools to learn with.
Case in point. Several years ago, I attended a Larry Williams seminar in Washington, D.C. There were probably 150 attendees spending $2K apiece to be there. Do the math. Larry is a very charismatic speaker. Would you have attended his seminar if he told you in his marketing that he lost 50% of his entire grubstake while he parlayed $10K into $1M in a year's time? That he had actually made $2M but in the final month or so of trading lost a cool million. Not so appealing when presented in those terms so of course these guys embellish.
He also told the story of why he doesn't manage accounts for others. Seems that when he did, he took this one woman's $10K and turned it into $300K in a year's time and she SUED him! Claimed that he didn't turn it into a million like he claimed he did that one year and so she felt cheated. She lost the suit of course, but it soured him on doing any more account management.
I used to be an electrical contractor. I could rough in an entire house in a day's time. I could teach you to do the same also, but it would probably take you the better part of a week to do the same job. Does this make me a poor teacher or rather is it because you need much experience first before it becomes second nature?
The point I'm trying to make is that all these guys have something to offer if you keep an open mind and look past the hyperbole. I'm looking at Chuck Hughes MVP Secrets manual as I write this. He does not claim he never has losses but on the contrary claims that he tries to maintain a 3:1 ratio of profit to loss. This is sound money management. OVERALL, he claims fantastic profits and provides his E*Trade statements as proof.
I think his 25 years trading experience has given him a better edge than what I can do but I am still willing to listen and learn.
Take what they say with a grain of salt and keep an open mind.
All these guys are hucksters, yes. They do make what appears to be outrageous claims of prosperity but lets bear in mind they all have succeeded whereas you and I may be struggling. Does this mean they are frauds?
Think back to college. We spend hundreds of thousands for an education today. Does the school guarantee us fame and fortune? No, they simply give us the tools to learn with.
Case in point. Several years ago, I attended a Larry Williams seminar in Washington, D.C. There were probably 150 attendees spending $2K apiece to be there. Do the math. Larry is a very charismatic speaker. Would you have attended his seminar if he told you in his marketing that he lost 50% of his entire grubstake while he parlayed $10K into $1M in a year's time? That he had actually made $2M but in the final month or so of trading lost a cool million. Not so appealing when presented in those terms so of course these guys embellish.
He also told the story of why he doesn't manage accounts for others. Seems that when he did, he took this one woman's $10K and turned it into $300K in a year's time and she SUED him! Claimed that he didn't turn it into a million like he claimed he did that one year and so she felt cheated. She lost the suit of course, but it soured him on doing any more account management.
I used to be an electrical contractor. I could rough in an entire house in a day's time. I could teach you to do the same also, but it would probably take you the better part of a week to do the same job. Does this make me a poor teacher or rather is it because you need much experience first before it becomes second nature?
The point I'm trying to make is that all these guys have something to offer if you keep an open mind and look past the hyperbole. I'm looking at Chuck Hughes MVP Secrets manual as I write this. He does not claim he never has losses but on the contrary claims that he tries to maintain a 3:1 ratio of profit to loss. This is sound money management. OVERALL, he claims fantastic profits and provides his E*Trade statements as proof.
I think his 25 years trading experience has given him a better edge than what I can do but I am still willing to listen and learn.
Take what they say with a grain of salt and keep an open mind.
