Wade Cook Indicted

You kidding Gene?? If I were ever successful at trading the FIRST thing I would do is write a book, then audio tapes, then video tapes, then seminars ,then set up a pay per view chat room,then mentor every tom dick and harry, then hang out a trade shows selling my "hot" stuff! Oh I forgot to mention associating myself with some broker so I can pump all my stuff to their clients(and maybe get a cut of any biz I send them..oh wait that's illegal)

Heck I might even hang out on some message boards trying to convince everyone how well I trade so they buy my stuff.

:)
 
We have been lambasting Wade Cook and his "disciples" for years....the so obvious nonsense, makes one wonder a bit about who actually buys into this stuff.

The note above about successful traders not giving seminars is basically true. Many of our detractors love to point to me or my brother and say "well, you say no good traders teach or give seminars, yet you guys do"...what's the deal?

Good question...simple answer. We have a bigger picture in mind...we want to grow an industry, grow a trading firm with well trained people, and (believe it or not)...we actually like to "give back" to the community. We actually teach college courses, knowing full well that these people will never become Bright Traders, with the intention of helping a few avoid the "so obvious" pitfalls (as this thread describes).

The Multi-level "cookites" who have been taken advanctage of by this system have come to us (many have), and were seriously upset by what they were involved in...and rightfully so.

Let's ask for "trader sheets" or at least some results from some of these people. I am open to sharing Bob and I's trading results...and we do so in our training class. And, before anyone points out the obvious...YES, my brother makes more money trading than I do....but between us, even with our other tasks, do trade, do make money as a team, and like to point that out....

:-)
 
Originally posted by js1257
Don if there was no money in what you do would you be doing it?
More...

We have our core business, trading and running a trading firm...and as in any business, if it was not successful, we would stop doing it. The schools themselves are awfully low priced (compared to so many other's around), that I feel very comfortable with continuing to do them. We don't make money on the weekend workshops ($199 or so), that is part of our "attraction vs. promotion" business model. I figure if we "inform" and "educate" that many may choose trading as a career....and we offer a place to do it...along with other career options.
 
ArchAngel,

Good points. Although after watching all the beer commercials for over 30 years on TV, I was somewhat convinced that the babes would hang out with me if I was drinking Bud ... no ... no ... no ... Coors ... no ... no ... no Miller... It was so confusing :) :D :confused: :eek:

Cdn,

I'm with you buddy. "If I were ever successful at trading the FIRST thing I would do is write a book, then audio tapes, then video tapes, then seminars ,then set up a pay per view chat room,then mentor every tom dick and harry, then hang out a trade shows selling my "hot" stuff! Oh I forgot to mention associating myself with some broker so I can pump all my stuff to their clients" But first I have to be successful like them. I was wondering if you were talking about Sammy Chua, the guy who made 16 Million in the market and is now the "teacher"?

Don,

"Let's ask for "trader sheets" or at least some results from some of these people."

OK, I'm asking YOU to post your trading results on a daily basis starting Monday! The condition is that YOU pulled the trigger and no one else. Why don't you start a thread like Hitman. I believe if you are as good as you claim, it will be the best advertising you can do. But please post ALLLLLLLLLLLLLLLLLLLLLL your trades.

Gene,

"Trading is one of the hardest professions to be successful and there is no "holy grail" or "magic formula" for success."

I agree.

"Just a note. In general Authors write books, Speakers with a gift of gab give seminars and traders trade. There are of course some
traders who occasionally give seminars , but this is not their main business."

I grew up with a silver spoon in my mouth. I went to a private school in Chicago. My school buddies went on to medical school while I got into international business. I made a lot of money, but got sick of traveling and retired at a relative young age.

The irony of it is that two of my school friends are simply the best (or close to it) in their field. One is a dentist and one is a surgeon. They are both internationally known and travel quite a bit. They both write books and teach in the University.

Now pay close attention, it is because of doctors like them that medicine advances rapidly. It is because of doctors like them that new doctors get the knowledge.

How many of you got at least one good idea from trading books or from seminars that were worth their price over the long run. I know I certainly have.

I have been reading posts here for a while, and no one can deny that personal attacks lead the way here. I am guilty of it as well because I did participate in it with shorteee. I just couldn't take it anymore reading his attacks on hitman.

Why attack?

1. Jealousy: You just can't take it that someone is beating you or is better than you or is more popular than you.
2. Competition: I will use Shorteee as an example. He doesn't trade with Worldco and is trying his hardest to prevent others from doing so. (BTW, shorteee, I'm a RealTick user, so obviously I don't use Worldco)
3. Ego: You feel that you are simply better than anyone else and you have to act this way.
4. I'm sure I forgot one or two reasons :)

I understand it is impossible to have a forum that is clean. We have at least 5 prop firms led by Don and Hitman, then you have Terra Nova and RealTick, then you have IB and essentially they all compete for ME (and you).

Some posters use their real name (like me) and some hide behind a handle (like shorteee). I was accused of being too nice (I was called an ass kisser by shorteee), but that is fine. I definitely don't have the writing skill of our brother cancdletrader, but why not be more like him.

Peace

MARK

Shorteee, you don't need to reply. I put you on IGNORE :)
 
MarkCohen,

You make some great points. I just want to clarify one thing I said and I think it applies especially to trading. I have great respect for doctors and other professionals who have studied and mentored many years to be successful. In my personal experience, many doctors ,scientists and lawyers do not make great traders,while a cab driver has just a good a chance as being a successful trader as a doctor. Why? Electronic Trading does not just take education, it takes experience, good eye & hand coordination, the ability to think quickly , change your game plan as markets change etc. Trading is not just an science , it is a art. That is why many professional card players, like fellow colleague's Bob & Don Bright are successful traders, not doctors, scientists and people with very high IQ's.(Though Don & BoB Bright are smart & good businessmen -you get the point).

I didn't mean to say that a lawyer or doctor is necessarily a bad trader(we have a harvard lawyer who trades successfully at one of our offices), just that trading is not all IQ and education. Many doctors and other professionals fail at trading because they have been successful in one business or skill and they didn't check their ego's at the front door.Trading is a skill that someone of average or slightly above average IQ could be successful at .
There are very smart individuals who are successful traders and some average individuals who are very good traders that have a PHD in "street smarts" and let there trading skill do their talking, not their ego. Don & Everyone have a good weekend, I'm off to
NYC, speak to everyone next week!


Gene Weissman
Lieber & Weissman Sec., L.L.C.
gweissman@stocktrade.net





 
That is why many professional card players, like fellow colleague's Bob & Don Bright are successful traders, not doctors, scientists and people with very high IQ's.(Though Don & BoB Bright are smart & good businessmen -you get the point).

Very good analogy I think.
 
You must log in or register to reply here.
Back
Top