Quote from fluttrader:
And you are probably one of those few vendors
This discussion isn't specifically about me nor is it any of your business what I do that goes along with my trading.
Many here at ET already know I do three different things for income (trading, trading website and custom darkroom photography) in which all are very successful.
With that said...
Chipper has valid concern that has been discussed many times (countless of times) by others at ET or anywhere else in other professions.
I want to take this discussion a little further about anything that's shared because I see the exact same complaints about those that charge a fee and about those that do such for free...
Exact same complaints, concerns or questions.
Why share something for a fee or for free when you can keep it all to yourself???
Are all trading related books, seminars, websites, blogs, youtube videos a scam?
Are all threads at ET that someone has shared a method, trading tip for free a scam?
Why do famous athletes or celebrities do underwear commercials, own businesses on the side that has nothing or everything to do with the what they do for a living???
I'm serious, why does anybody bother showing up at EliteTrader.com to hang out here when most (not all) trading tips, methods, advice cannot be verified is coming from someone that actually trades or even has a trading account???
I know at least a dozen active ET members running around giving trading advice about any thing related to trading that don't even trade or they plan on trading soon once they get properly setup for trading...
All have admitted such at one time or another via either email, private message, in a chat room or whatever.
What about those traders that have admitted they are not profitable but trying to be profitable while giving out trading advice or debating about something related to trading???
Like I said, this discussion really can be taken much further about the real reasons why folks share their methods, trading tips or advice for a fee or freely.
Thunderdog made an interesting observation...
Quote from Thunderdog:
Then why spend $5k on what you can pick up in any reasonable trading-related book for under $50? And you cover a lot more ground in a book than at a seminar. Isn't trading all about getting a good price and not overpaying for something when you can avoid it? That mentality can start on Day One.
I've seen many book related discussions by many traders that swear it's the best trading book they've ever read about trading.
Next, comes along someone that saids the book sucks.
I've seen many people fall in love with something that's freely shared.
Next, comes along someone that saids they've tried it and it sucks.
I've seen many say they've payed 7k for a trading course.
Next, comes along someone that saids they've tried it and it sucks.
Surely every book, seminar, online article, discussion forum thread can't all be a scam...
Right???
With all of that said and getting back to Thunderdog's comment...
The next time we take that trade (stocks, futures, options or whatever)...
Did we overpay for that price???
There's no free lunch when it comes to trading.
Even something for free can be very costly.
By the way, my mom still thinks Michael Jordan looks great in those old Hanes underwear commercials...
One commerical out of many commercials he did with other consumer products at a time when he was already making millions each year from his basketball contract with the Chicago Bulls.
The next time you give a trading tip, advice, talk a little about your approach to the market or whatever...
Why are you doing it when there's no need to share it with the masses???
P.S. By the way, it didn't cost me a penny to read this thread and I've read it all before in other threads.
However, I may have wasted my time and energy if this thread develops into the typical bashing threads and doesn't contribute anything meaningful.
Mark
One can be wealthy without being famous. There is a serious misunderstanding here, fame is an obsession for some, it has nothing to do with this subject. unfortunately for 99% of all succesful traders-- fame is not a priority. fame becomes important when one seeks to raise capital and influence. this is 99/100 times not the domain of the trader-- this is the promoter. trading is a predatory profession, teaching is a helping profession---true predators don't teach, true teachers can't be predators. serious disconnect here for understanding.