Quote from TheBestGuruEver:
I sell education to beginners. I provide outstanding education at a very low price.
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OK. I see it's attack time on me. You must remember one thing. I was dragged into this forum involuntarily by the ignorant OT. I'll try to respond.
So you SELL EDUCATION, therefore you are a guru.
NOT TRUE. A guru makes predictions, forecasts and tells you specifically how he/she thinks you will make money.
I never make a specific recommendation. I teach rookies how to make sense out of all the option data available. In turn that allows them to understand what they are doing and how to select a trade that is appropriate for this risk tolerance, experience, and pocketbook. I do not pick trades for them
Your definition of 'guru' is incorrect.
you are at a higher standard.
without results to know your education is worth even one cent, or perhaps negative....the ENTIRE point of trading is to make money. whose to say your book has any value.
You do not understand the purpose of education. It is not my place to pick trades. It's my job - and I do it extremely well - to make the trader <i>understand</i> the alternatives, the pros and cons of a trade, the risk and reward potential, the probability of achieving a profit on a trade etc.
It's similar to public school. The kids learn to read, but the teacher is not responsible for what the kids read, what they do with the reading skills they acquire. That's up to the individual student. Some practice and work hard. Others think reading (or trading) is easy and go out and do something silly
The objective of trading may be to make money - and at the level of your ability to comprehend the process, you are correct.
But, the real objective in trading is to not lose money - and if you do lose, the losses must be kept small. The profits tend to take care of themselves - although people who do not understand risk have a knack for allowing a nice profit to turn into a loss through inaction - better known as poor risk management.
Cutting losses and managing all positions with skill is what determines your ultimate results. If you don't get it, I cannot be responsible for that.
My book is of great value to those who read it with the intention of understanding how to use options to earn money. It would be of no use to you because you already believe you know enough to hurl insults at someone who wasn't even posting on this forum. How immature is that?
only profitable accounts will prove its worth. don't deny that, as we know you will.
You know I will deny it? Right you are. If I teach someone a trading style - perhaps how to trade iron condors, that student understands the pros and cons for choosing front- month options vs. options that expire in two or three months; that person understands why it's foolish to sell options that are very far OTM and provide little profit potential; that person understands whether a double diagonal would be more appropriate than a straight iron condor. etc etc etc.
Now I have no control over how the trades will come out. I have no control over risk management - which, as I keep explaining to you, is more important than any other aspect of the trade. I have no control over whether the student will take his profits or gamble them away in an effort to earn the maximum possible profit.
In fact, not only do have no control, I don't even know what positions were traded. I don't sit over the shoulders of my readers. I teach them how to use options. I reply to follow-up questions to provide additional guidance. I have no idea whether they make money - unless they choose to tell me.
My guess is that like any rookie, their results are mediocre at first. But with the ability to understand what they are doing, they learn fast. And, if following the good advice offered, don't go broke. They are well placed to succeed.
Succeed. That's the goal. The strategies I teach are not unique to me. Iron condors are often very profitable, at and other times are losers. The objective is to limit those losses.
I don't teach 'a method' so the results of my students cannot be measured. Despite your need to see a P/L statement, there just isn't one. Nor can there be one. You just do not understand.
But I get it - having a discussion with you is not a possibility. You have your mind closed and I'm sure that suits you well when you make all those trades in a paper-trading account.
To any option rookies: visit my blog to see what there is to see. Not all posts will be of interest, but there are excellent tips among the posts.
http://blog.mdwoptions.com
so you are selling education but won't prove your education results in profits?
interesting.
As I explained, it's not possible.
i sell a book on how to educate people regarding making corn.
then people ask, does it work?
HOW DARE THEY ASK ME THAT!!!!
A foolish comparison.
Ask me how it works and I'll tell you that my readers are very happy with the book. I get nothing but accolades. I don't see their P/L sheets, but if the readers are satisfied, what more can I do?
LOL
just another guru who will do anything to hide his "results"
Making no market predictions, I have no results to show.
Don't you get that?
keep talking about everything else...you're right, traders don't care about making money.
oh, they do...
so maybe they need to see that education means money, since you charge for it.
keep avoiding the point.
I have answered to the point several times in this post. There is no record to show you. I do not recommend trades, so what is there to show you? Nothing.
I don't see the trades of those whom I educate - so again, there is nothing to show you. It's you who are avoiding the truth. And I am not a guru.
I never said that traders 'don't care about making money.' You just made that up out of thin air. What I say, and what I believe is that making money on each trade is not the goal. Making money over the long-term is the goal. To succeed over the long-term, positions must be managed well. That translates into owning positions with sufficient reward for the potential risk and sufficient chances of earning a profit on the trade. Ignore risk and you are gambling. That may be what you do, but I am certain that my readers understand that gambling with options is rather stupid. There are good methods to make money when using options - and with a risk/reward that makes the trade acceptable.
