In the video in this post I would like to share with you the top 4 B.S. pieces of nonsense I have ever heard about trading the markets. I have been in the trading industry for nearly 6 years and I keep coming across the same garbage across the internet, books and online courses.
I have listed the Top 4 offending B.S. lies below:
- Trading is Easy (e.g. “Easy Forex Trading”)
- Secret Trading formula
- Cherry-picked examples
- You cannot make money in trading
First of all, if trading was easy and there was some “secret” trading formula there would be no such thing as a financial crisis. All the banks would be in good shape and we would not have to bail them out.
WRITE THIS DOWN: The only real secret is “hard work” at learning a solid trading plan and ensuring you can execute that plan consistently to minimise risk and maximise profits.
I guess I could have added even more to this list but I will leave you for the moment with these ones.
If you can think of some more of your own, let me know and leave me your comments below.
Link to this post!
Alessio,
I am sailing in my 180′ yacht just off the Cayman Islands in the company of various Miss Universe contestants sans Adrian Chiles. The secret of my wealth is simple, I have discovered the philosopher’s stone and am prepared to share my good fortune with others. For only $19.99 a month I will give you the 100% guaranteed, without fail key to unlimited wealth with my portfolio of sure fire gold mining stocks that will propel you to wealth beyond your wildest dreams. This information is limited to the first 100 subscribers so you need to sign up now.
Thank you for exposing this nonsense.
great post alessio
your the MAN !
always always always…find the guy who KNOWS HIS STUFF…. you KNOW !
has anyone noticed that most of the most popular twitterheads are selling cherrypicking subscriptions? notice they are all using the near same basic program + chart set up. now lets do some math, everyone of these guys has at least 5000 ‘followers’ and they maintain that popularity by getting on every list/spambot they can to give the illusion of importance.
now, lets do some simple math,, lets say they have 100subscribtors out of 5000followers and they are charging $50 to $100 per month for their ‘advise’,, that means they are making their income off of talking not trading. their job is actually keeping everyone interested in the markets regardless if they make money. each homerun will bring them 2-5 new subscribtors,, each flop only cost them some bashing, because few people will cancel their membership for fear they will miss the next homerun. they are conditioned to believe it was just a bad trade and so many good trades are common.
if youre going to pay for a service,, make sure the provider isnt out there pumping the stock. if he is then you know he is having to work the play rather than letting the play work.
another tip,, look at their website,, does it have google ads? does it have cheesy/tacky floating ads? thats the sign of someone making cash other ways other than his implied program.
advertising is marketing to the mass morons of a particular interest. do you really think those advertisements are aimed at donald trump? warren buffet? steve jobs? bill gates? name anyone you think is filthy rich,, do they actually run out and buy stuff advertised to them? no,, so why should you?
Alessio,
I wonder how you reconcile statement #1 and #2 with your support for Guy Cohen and his OVI indicator.
Regards
Well I have been following your articles for a while now, and so far everything you say seems to make sense. I trust you.
Trading is very hard in this environment as trading is not based on fundamentals or technicals its based upon the next rumor from papasmurf or the ECB.
I am wondering too about your support of Guy Cohen, which IMO fits the “snake oil salesman” bill. He is out there selling his “secret formula” for only 1,995.00usd.
I bought Cohen’s book based on your recommendation and was even tempted to buy his new elixer to make easy money, I walked after bouncing the idea off my wife and coming back to reality. If it sounds too good to be true, than most likely it is.
Alessio, you have alot of people putting trust into your recommendations so a reconciliation of this IMO will make the difference between those who are trusting you and those who are just waiting for you to put out your own secret formula.
Eiji
Good sharing, Alessio. Thank you.
Well, although I do agree that there are no secrets for making money, I do most certainly disagree that: if so all the banks would be in good shape.
You have to see that it is utterly unimportant whether or not the banks are in good shape… as long as the traders and their bosses are making a vast amount of money, everything is fine.
We have a financial crisis because it is a great business as you very well highlighted in your brief tv moment.
And actually there you have a secret trading tip: get credit from the ECB for +/- 1% loan it out in gov debt to Spain, Italy and Greece for about from 5 to 70 %.
Yeah, it does have its risk.. but than again, if your man is whispering into the ears of Merkel and Sarkozy in order to bail you out in case of liquidity problems, you are pretty much on the safe side.. well actually it is even better, the worse the crisis, the more you can increase your profit margin – and when worse comes to worse the Governments will ask you for loans (increasing their debt) only to give it to you back in cash…. as you need to be bailed out.
You see, there is a secret trading formula, the problem is that you need to be Deutsche Bank or PNB..
Great comment Boris. Cannot disagree with you on that. Well argued point. Cheers.
Hi Eiji – As stated, I trust Guy Cohen and he knows what he is talking about and he is a fantastic trader. I have been using some of his trading systems for many years and I think it is well worth the money,. You are right in the sense that there are merchants out there who do pull wool over people’s eyes about the facts – and you have a right to be concerned about them. But I personally have sat next to Guy and seen how he trades and he is the real deal here. All the best. Cheers. alessio
Thanks Diablo for your comment. Papasmurf…. lol – good one.
Thank you Alan for your comment on blog post. Best wishes to you.
Tarri – I trust Guy’s material and have used his systems and materials for years. Heis the real deal here. Many other merchants on the internet are not. That is the distinction here. Even Guy himself admits there are no holy grails or easy stuff out there. You need to work hard. thanks
I heard this one the other day: “ALL trading is gambling, so if you’re making money it’s just luck, which can’t last”.
I love Leadingtrader.com, keep up the good work and thank you.
Thank you Mike. We appreciate your input. Good quote by the way. Cheers. alessio