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#1
11-12-2007, 01:04 PM
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Member
Join Date: Jun 2007
Posts: 36
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Why do successful traders start selling advice or newsletters?
I always wondered why traders who have reached a certain level of success, money, or fame start selling trading advice, products, or trading/investment newsletters? Is it because when they get old they prefer to spend their time teaching in order to reduce or eliminate stress trading can cause?
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#2
11-12-2007, 03:23 PM
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Super Moderator
Join Date: Oct 2007
Posts: 621
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its much easier to sell than trade.
on the flipside...there are some people out there that say they were successful traders...but really are not, they lie so they can sell more newsletters. there are a few who are successful that sell newsletters to suppliment thier trading income. there are alot of ways you can look at it.
__________________
Nothing is more difficult than the art of maneuvering for advantageous positions. - Sun-Tzu Trade with the trend, Ride winners, Cut losers, Keep bets small, Use Stops - Old School | |
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#3
11-12-2007, 04:04 PM
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Senior Member
Join Date: Jun 2007
Posts: 109
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hmmm…that might be a reason. It's very likely that's not the prevailing reason, though. Have you ever heard the adage Those who can, do. Those who can't, teach?
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#4
11-13-2007, 05:20 PM
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Member
Join Date: Jun 2007
Posts: 33
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yes, I heard that one quite a few times. So you are implying they are not making money in the markets anymore and as a result they have no other choice but teach? (or retire
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#5
11-14-2007, 02:55 PM
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Senior Member
Join Date: Jun 2007
Posts: 109
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yes, kind of. There are really 3 categories of "advice vendors":
1) traders who at one point where really trading the markets and become very successful doing it who either opted for a more relaxed style of living or whose trading strategies have become obsolete. 2) traders who are still trading and making great money who want to give back by helping others or just want to further increase or supplement their incomes 3) traders who never really traded or were losing money doing it who turned into trading coaches selling holy grails. This, unfortunately, is the category with the highest percentage | |
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#6
11-15-2007, 05:26 PM
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Member
Join Date: Jul 2007
Posts: 49
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protrader, I think your breakdown pretty much sums it up. Sad but true. I'm not referring to the fact that there are charlatans selling systems and stuff which doesn't work. I'm referring to all new traders who actually believe them. And there are plenty of them, believe me.
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#7
11-15-2007, 07:35 PM
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Super Moderator
Join Date: Oct 2007
Posts: 621
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__________________
Nothing is more difficult than the art of maneuvering for advantageous positions. - Sun-Tzu Trade with the trend, Ride winners, Cut losers, Keep bets small, Use Stops - Old School | |
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#8
11-16-2007, 12:38 PM
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Member
Join Date: Jun 2007
Posts: 63
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ahah very nice article
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