what do you say when people ask you for tips/advice?

[vikana]

i just tell them what state my long term systems are in. That's simply what I'm doing at the moment (long term) ... nothing more nothing less.

 

[cpo]

Originally posted by inandlong
I had similar experiences as you described. When the client made money, they were brilliant for having followed my recommendation. When they lost money, I was an idiot. Who needs that?

It would appear that, in this business, it is not ethical to give advice for free.

 

[uptik2000]

Originally posted by inandlong
Uptik I recall from the trading room that you were a broker before, as I was. Of course in your day you had quotrons. In mine we used a chalkboard.

I had similar experiences as you described. When the client made money, they were brilliant for having followed my recommendation. When they lost money, I was an idiot. Who needs that?

Thats right inandlong......nobody needs that! I was a broker from 1996-2000......things never change......but one thing I did like about the last bull run was the explosion of online brokers and those great commercials....
I had a handfull of clients who would say things like, "I have a friend who uses X-Trade online and he's making millions" And I would say, "Well, If you feel confident enough you should open an account. Call my assistant with the accnt # and she'll wire money into it." Only 2 ever actually did. One was never honest about his losses, and the other finally admitted to me that he blew the $20k in 2 months.
Both of them were immediately placed into what I affectionely called the "full boat" bracket.
(In Seinfeld soup nazi voice), "No discount for you!"

 

[danielc1]

I always ask upfront where I can send the bill. A 50% profit tip cost 1000$, A 100% profit tip cost 10000$. Without taxes.
If they still ask for a tip, I give them one and send them the bill. My girlfriend always answer the telephone so they can't scream at me...