How to be a Guru in 10 easy Steps
- Thread starter TheBestGuruEver
- Start date
Good ones.
My guru pupils learn to either fade the gap or play the "gap and run" strategy. Or do a 1/2 gap fill. try to wait as long as possible before telling your clients which one is the obvious method. Simply go back to other trading days when it worked, to remind them you know what you're talking about. when in doubt, try to do the 'gap fill,' since it's popular.
Overbought and oversold is another great one. Almost always say the market is one or the other, but then say ......
"the market can remain irrational longer than you can remain solvent."
so then when it keeps going higher your suckers laugh.
Always look for Stochs, RSI, etc... for overbought/sold, saying again "these levels can remain high/low for long periods of time."
total garbage.
the reversion to the mean...i have heard this a few times, but not a ton.
Likely a market profile thing, and in the long run i bet they are right many, many times. of course, the question is "when will it revert.." and "now that it did revert, what happens next"
simply say it's overbought or oversold.
LOL
I like the guruism of "support and resistance" a lot.
If the price falls after hitting the "resistance," the guru says I told you this was the resistance.
If the price goes above the "resistance," the guru says resistance is about a level, not a price point. If the price falls after that, the guru says "See I told u, it was a resistance level."
If the price goes way above the "resistance," the guru says "Now the resistance has become support." Then the guru continues to use the analogy of a ball bouncing against the ceiling of the first floor a few times and then goes above the second floor.
Not so, in fact, more than 90% of the time we are fairly valued. I think just discounting that that might be somebody's method doesn't benefit you. It's only if you know that that person uses such terminology to describe the method, that you should discredit it. I would agree with the rest, mostly faking that you were looking at a level is a tell-tale sign of a guru.
The point of this thread is to guess EVERYONE who talks about trading is a guru, and if they don't show actual audited results, we must be entirely skeptical. If you are an expert, and the game is to make money, prove it. simple.
I don't necessarily mean ET, it's for beginners that google e-mini trading or education. Most of these educators are frauds, that really can't be argued.
If they show that their method actually makes money, and their time is somehow better spent helping you and making glossy seminar hand-outs versus simply using their "secret system" to make money, well, ok.
If you read this thread, you will find at least ONE red flag when dealing with someone helping you make money. I've seen many educators charge for years and they almost never traded.
Then the gurus come out and say "if you can just use one of my tools from my toolbet, you will easily pay for the entire year." Huh? Ok, let me name everything and i will show you that if you picked one it will work.
In this business, if you want credibility you better prove you make money. All fund and hedge managers do, but not on the internet.
sad. so i call them gurus.
LOL
I would also submit the guruism âThe trend is your friendâ⦠or âFollow the trendâ
And before you go wtf⦠Yes I get itâ¦
But show me a chart (a trend)â¦. Iâll change the time frame and show you a different trend (and possibly several iterations)
My point is â one must be specific when identifying the trend one is trading â gurus canât afford to be specific
RN
And before you go wtf⦠Yes I get itâ¦
But show me a chart (a trend)â¦. Iâll change the time frame and show you a different trend (and possibly several iterations)
My point is â one must be specific when identifying the trend one is trading â gurus canât afford to be specific
RN
Most at ET that have the GURU title aren't selling anything other than the belief that they are profitable traders or made a profitable trade.
Simply, a trader selling the belief they're profitable while not asking for financial compensation from readers can be just as harmful as a vendor selling the belief they are profitable for financial compensation without verification of profits.
Main difference is that if it's a vendor...you have someone to blame when things go wrong.
If it's a fellow forum member that's not a vendor...you got nobody to blame because the info was free.
In fact, most gurus aren't born a guru.
They usually start somewhere online giving free advice, free analysis, free trade info et cetera without any verification...
Then after getting a large following or request to give more useful info...they announce they can only continue giving if financially compensated.
My point is if anyone has EVER posted a trade here at ET or anywhere else online and stated they've made money without verification of such...
Based upon this thread...that's the worst type of a GURU.
By the way, the first time I've ever heard the word GURUs thrown at a trader or investor was back in the early 80's at a bunch of "old ladies - retired" that had their investment club featured in the Chicago Times after astounding investment returns on their pooled money.
Seriously, gurus don't call themselves gurus. Only others call someone a guru either due to respect, jealousy, anger or disgust.
Good trading or investing to all...my timeout is over...back to the markets.
Mark
Simply, a trader selling the belief they're profitable while not asking for financial compensation from readers can be just as harmful as a vendor selling the belief they are profitable for financial compensation without verification of profits.
Main difference is that if it's a vendor...you have someone to blame when things go wrong.
If it's a fellow forum member that's not a vendor...you got nobody to blame because the info was free.
In fact, most gurus aren't born a guru.
They usually start somewhere online giving free advice, free analysis, free trade info et cetera without any verification...
Then after getting a large following or request to give more useful info...they announce they can only continue giving if financially compensated.
My point is if anyone has EVER posted a trade here at ET or anywhere else online and stated they've made money without verification of such...
Based upon this thread...that's the worst type of a GURU.
By the way, the first time I've ever heard the word GURUs thrown at a trader or investor was back in the early 80's at a bunch of "old ladies - retired" that had their investment club featured in the Chicago Times after astounding investment returns on their pooled money.
Seriously, gurus don't call themselves gurus. Only others call someone a guru either due to respect, jealousy, anger or disgust.
Good trading or investing to all...my timeout is over...back to the markets.
Mark
I totally agree with both above posts.
good stuff.
i agree, they don't call themselves gurus, but they hope they are referred to as such. gurus simply are soo obsessed with having an audience and being super self-absorbed it's insane. If nobody clicked on their crappy blog they would implode. they are desperate for one moron to say "wow, you are smart and a good trader". they must feel soo fraudulent, likely ruining marriages, relationships, etc... since they are so fake.
They control the crappy content, the hindsight, blog, etc...
They control what crap they want to show in videos, the trades they want you to see...
smoke and mirrors.
i just want to meet all of them one day before they pass of old age and ask them "Are you really happy with your fraudulent legacy?"
LOL
harsh, but true.
good stuff.
i agree, they don't call themselves gurus, but they hope they are referred to as such. gurus simply are soo obsessed with having an audience and being super self-absorbed it's insane. If nobody clicked on their crappy blog they would implode. they are desperate for one moron to say "wow, you are smart and a good trader". they must feel soo fraudulent, likely ruining marriages, relationships, etc... since they are so fake.
They control the crappy content, the hindsight, blog, etc...
They control what crap they want to show in videos, the trades they want you to see...
smoke and mirrors.
i just want to meet all of them one day before they pass of old age and ask them "Are you really happy with your fraudulent legacy?"
LOL
harsh, but true.