Why successful traders sell products

Quote from andretrader:

Why do successful daytraders & trader start selling newsletters, advice", products etc...
I dont understand it, Why they "waste" their time on this,
have they "lost" their touch with the markets?! or trading-confidence?!

If so, its kind of scary that people with 20+ years of experience suddenly just dont manage to make money in the market..

I myself admire traders who try to be Anonymous and try stay off media, or at least not sell trading advices..
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Offering services has much greater potential of becoming "passive income" without the traders daily involvement. For some, as they age, mail-box money becomes a goal, instead of screen-time. Screen-time generates life's stash, services allow the majority stash to be handed-down.

Osorico :)
 
Quote from osorico:

Offering services has much greater potential of becoming "passive income" without the traders daily involvement. For some, as they age, mail-box money becomes a goal, instead of screen-time. Screen-time generates life's stash, services allow the majority stash to be handed-down.

Osorico :)
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Argee

The peak of this career aspect is working for big hedge funds. The honorarium can be huge, Tom DeMark and Robin Mesh are good examples.
 
I'm not generally a fan of vendors...and it really boils down to the question "what kind of trading product are they selling?"....

Is it a chat room? Generally this is the point I write them off as being a lame ass scammer...

Or are they selling market analysis? In that case, they probably are already doing this for themselves and I don't think it's a big deal at all to sell it, as it's extra, risk-free income, as mentioned earlier.

Granted, many of these individuals can't trade to save their life, so there are bad apples in that side of the business too...but I think there are a few genuine individuals out there who are decent vendors and great traders not trying to sell the keys to the kingdom but just giving some insight into the markets.

Also, as mentioned earlier, I think as you get older your values change, etc...I don't see why some 25-30 yr old trader would be trying to increase his competition by teaching others everything he knows about the markets and trading...but I guess after someone has been trading 30-40 years, maybe they aren't too concerned about teaching a few people how they do/did it. So at that point it's a whole different story.

I think the answer is subjective and is based on the specific vendors circumstances and perspective.
 
Quote from austinp:

<i>"Why do successful daytraders & trader start selling newsletters, advice", products etc..."</i>

To suck $$$ of other people's pockets

When you or anyone who asks this eternal question becomes successful at trading first, then you can answer it for yourself.

Here are some question for y'all: why is Dan Marino working an analyst position on tv for roughly $100,000 salary when he is reportedly worth more than $30 million?

Bored... maybe trying to keep his face in the limelight...Also,
he probably likes the money coming in... Hell, you have to do
something with your time when you are a burned out old retired
quarterback don't you? (same thing could be said for an old burned
out trader I guess...lol)

Why is John Elway still doing tv commercials? Reports are he's worth more than $100 million.

Same as Dan Marino...

Why does Steve Cohen still bother showing up at the office at all? With a net worth of several $$billion, why do anything but lay on a beach enveloped with "hookers & blow"... the usual fantasy of fledgling ET'rs posted here ad-nauseum?

Steve likes to trade. Does he sell crapola too?... And I really
doubt if the usual fantasy of fledging ET'ers is laying around on a
beach with hookers and a nose filled with blow. What a cut on the
people here at ET Austin...my god...have more faith in why people
want to trade... now don't go getting all mad at me for speaking
my opinion on all of this okay?...

The same answer applies to all questions in this thread.
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