That's quite a good point. But there is another possibility among some previously successful traders: the same crazy risks that got them there also took them out. I suspect that not everyone who made good money in the markets necessarily did so in a sustainable way.
why do many traders give seminars etc..?
- Thread starter chipper
- Start date
Thank's Austin. From you, compliments are meaningful!
what people on ET refuse to accept is that RISK is proportionate to GAINS. Large risk is needed for large gains. large risk, by definition, can cut both ways. very very few can do it any other way...and those that can, have something that YOU CAN"T ACCESS.
surf
Quote from marketsurfer:
<b>Quote from NihabaAshi:
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???
Mark</B>
The reason is they are obsessed with fame. fame and money are two seperate things. One can be famous without being wealthy.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.
are there exceptions, yes, but exceedingly exceedingly rare with pure motives.
surf
I strongly disagree only because some of those celebrities or top athletes have specifically stated they do it for the money...
Just because they can.
Yeah, I do agree that there are others out there that do it for fame, ego, contract obligation, helping a family member or close friend via partnering with that person et cetera.
That's my point...there are many different reasons why someone wants to make additional income when they already have a source or method of income.
This is a capitalistic society and if someone has a problem with that...
They shouldn't be trading in the first place.
Note: I"m not suggesting you have a problem with that considering you've revealed elsewhere a little of your background.
Anyways, there are several different discussions in this thread and you seem to zoned in on one type while I've zoned in on another type to try to expand on it.
Nothing wrong with that.
I'll now ask you the question...
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???
I gotta agree with this and explains why some (not all) I know that do what they do for a fee or freely regardless to the profession.
How much is the linen worth considering someone is also paying for the linen and not just the hotdog???
I've recently been to a fancy linen store with my spouse and I saw some very fancy/expensive stuff.
Mark
Clearly true. However the actions constituting "crazy risks" vs. pouring it on when there's clear opportunity are quite discretionary and subjective.
Uninhibited desire places one in the zone.
Another basketball analogy: Monday's NCAA final. Memphis State had the safest of opportunities. Free throws. Made them all night. When they were really needed? Choke.
Kansas. Chambers. A miserable night. When it counted? A Hail Mary three with no time left and guys in his face. All net.
A free throw seems easy but oh the pressure. The three pointer? Pure intuition without a lot of time to think about the consequences.
Trading is about position sizing and selection. Variables. Those decisions are more often than not arbitrated not by market conditions but by personal aspects.
Perhaps the reason why "people on ET" refuse to accept it is because the correlation between risk and gains has not been established.
Increased volatility requires larger stops, for sure; but what is needed for large gains is not a large appetite for risk, but rather the discipline and patience to not stop profits short (and, at the same time, to limit risk by trailing one's stop).
I'm not sure I agree. Yes, all else being equal, more gains require additional risk. But if the additional risk is proportionate to the additional gains, then all you are adding is leverage. Is that all you got? Is leverage the only thing that you (or guys like VN) can bring to the table?
how would someone get into teaching these seminars? anywhere you could find information?
the market is built that way.
sorry that you don't want to accept the truth.
surf
So your trading has no value added? Just leverage added? So the only thing that guys like VN offer in exchange for their fees is leverage? (Oops! That's right. Yes he does.
)