Forex Myths: Seems That Everyone Is Trading, Today.
I'm certain everyone searches the spider web for the information related to trading. We started similar this every bit beginners, inwards demand of a strategy or system. We do it every bit advanced traders, searching for news, analysis, rapports, etc.
While nosotros are surfing the web, nosotros view a real aggressive advertising campaign, unremarkably promoting services related to trading. We tin say this is ok. This is how they human face for their clients. Now, since social networking has exploded, nosotros notice many people promoting trading.
Some of them claiming they are "traders for living". This tin create us believe that everyone is trading today. So who is behind this advertising around the web? Usually these guys have got the "I'm a rich person, I do this only for fun!" attitude, when they promote the "services" (claiming they are existent traders).
Another work starts when this variety of “trader" starts to combine these "services" presented downwards below as well as offering yous a consummate "portfolio" of services, from opening an concern human relationship to managing it. You volition never hold upwardly a successful trader "working" alongside these guys. You volition only fill upwardly the "more than 95% losers" inwards this field.
You tin spot many of them on Facebook, unremarkably having a "sexy girl" every bit their profile photograph (not to a greater extent than than three photos). Just assay to read the comments on their photos: "wow, hence hot!", "what a beautiful IB/MM, I have!", "thanks for beingness my friend...you are hence sexy!”
First fourth dimension yous notice that, yous volition create a huge LOL, but if yous volition assay to think to a greater extent than nearly it...you volition start to cry. This is how many miserable people are tricked as well as unremarkably they lose all their money. Me, personally, I would never ever pay for something (service/product), only because a "sexy girl" presents me that offer, but I estimate at that topographic point are lots of miserable men out there...
In my province at that topographic point is a saying: "Is non a fool the 1 that ask...but the 1 that pay the ...****! I estimate inwards this example these "traders", that demand to sell services to “make a living” from trading, are right, but is this ethical? Is at that topographic point anyone going to do something nearly it?
I'd similar to believe that at that topographic point are even hence fair people out at that topographic point that promote these services, inwards an honorable manner. This should hold upwardly the smart people’s business, non a scammer’s world.
Introducing Brokers
Introducing Brokers are unremarkably promoting their referral links. If yous click on these links as well as register to that broker, they volition have a committee (place your mouse on that link as well as yous volition view some foreign digits as well as characters on your Add-on bar, bottom-left on your hide - if yous have got it activated on your browser)
This committee tin hold upwardly paid 1 fourth dimension only, either when yous register every bit a customer or a monthly % from spreads. Until now, it looks good. We tin consider IBs every bit a sales mobile subdivision of a broker, but what if this IB is spamming the web? (E-mail, facebook groups walls, "smart comments" on forums, etc).
Why should I select this annoying soul from all the others thousands of IBs, promoting the same broker? Is he/she going to introduce me the broker services inwards a fair way? Does he have a proper preparation on how to introduce the broker services?
The respond is no! If yous don't believe me, assay to contact a broker that offers IB programs.
No marketplace sense needed (if yous refer yous have got it, is to a greater extent than than enough). No anti-spam policy explained (only mentioned inwards the contract, but nobody consider it if yous study it for whatever IB), non to mention, no proper preparation for giving to their clients, proper consultancy.
You should consider it twice, if your brokers offer/allow this variety of promoting. For me, fifty-fifty if they volition alter their "policy" inwards the future, I won’t fifty-fifty consider talking alongside these brokers. (I have telephone calls, e-mails alongside "business" proposals, every week). There are a few of them that already "look big" on the web, because of this aggressive advertising from IBs. Unfortunately, every bit brokers, they offering lousy services!!!
Signals Providers
These services, inwards my opinion, are the beginner trader’s worst nightmare. Being their clients, yous volition never larn how to trade. Being successful inwards this patch way yous volition larn from your mistakes.
How tin yous larn if yous don’t fifty-fifty know the reasons for placing that social club on the market?
You volition acquire feed on SMS, e-mail, social networks, alongside some "signal": purchase here...exit there. If they are right...you don't sympathize how. If they are wrong, yous lose to a greater extent than than money: You volition lose to a greater extent than than that. You volition lose the chance to larn from that bad trade, non to mention, yous volition never "learn how to direct handle of your ain fishes". You volition ever depend on that "service" for every bit long every bit yous volition live...
Now, this "gang" is gathered on large websites that promote "performance links". This is some other "trend" inwards this field. This is also a neat IB concern for the websites owners. To proceed their "performances links" inwards house for to a greater extent than than a month, they have got to opened upwardly their existent concern human relationship on that website (referral link), yet, this is something that everyone forgets about:
"Past Results Do Not Guarantee Future Profits!"
And the worst part...I notice everyday, "known" traders around the basis starting their ain "signals services" business, instead of funding a society alongside shareholders, to invest on the market.
I notice that hence LAME...
Forums Traders
The get-go was great. I even hence call upwardly those days, when at that topographic point were few fair forums on the web. H5N1 prissy house where yous could talk, portion your results, larn from advanced traders, as well as larn from their mistakes...
Those days are gone...and volition never hold upwardly the same again. Now forums have got advertising contract as well as write articles for paid advertising, go out IBs (sharing referral links) or started "performance links" business...
The forum traders now, are by as well as large beginners. They read a few things as well as tested it on demo and...Done. They are at nowadays "gurus" as well as learn trading! Every forum yous mightiness join, have got thousands of threads opened...with dissimilar strategies as well as systems that had thousands of followers posting every day...charts, results...until eventually they stopped doing that as well as the thread was closed...Why ? Doesn't it go anymore?
Then the quondam followers go out "gurus" as well as have got the thought as well as start a novel thread posting quondam links: "this is the master copy idea...and nosotros are only improved it as well as terminate upwardly alongside this...” And this...usually halt before than the master copy idea, because they don't have got plenty followers as well as expected results...
Then at that topographic point is the "forum trader", thinking of starting his ain "business"...by making his ain forum. This is how all the forums around the spider web at nowadays have got the same ideas (sometimes only copy+paste) from the FF Forum...the firstly neat place... This is how, learning from the web, today (for free), inwards 80% of cases is only a lost time...Sometimes money, too, if yous opened upwardly a existent concern human relationship without months of demo testing, before. And past times testing all ideas shared on the spider web today...could genuinely have got yous years...
So they thought: It is either yous have got fourth dimension to acquire proper preparation inwards this field...or coin to lose to buying other’s "experience". Sometimes it is both. I'm certain many of you, have got a "deja vu" past times reading this.
Advanced traders are no longer on the web, sharing for free, their experiences. They are "hidden", now, due to this "big noise" nearly the trading, everywhere.
Years ago, an advanced trader didn't have got to "show" his statements. It was plenty for us that he could respond all our questions, alongside lots of most logical details, for free. Also, when having lots of coin inwards your account, yous volition start to think of personal security...so no existent names, no other details.
Hey, have got whatever of yous seen the Warren Buffet "performance link”? How nearly his investor password? How nearly George Soros? Any other large trader's statements? :) I tin assure you...you won’t view it! If a fair large trader what to portion his results volition create a society alongside shareholders, to invest on the market. (Like Warren Buffet did alongside Berkshire Hathaway Inc.)
Back then, when beginners were happy nearly results, they wanted to "show off" a fleck as well as they were publishing their results (less than $ 50k). Now all beginners alongside few hundreds inwards their concern human relationship "show off" alongside their statements to earn clients. Why? Their arrangement is non working that practiced to "trade for living”?
This category represents that 80% noise...that volition halt presently as well as they volition vanish (when their "system" volition halt working similar on FF Forum, years ago). But novel ones are coming...so lookout out of these "show off" guys! They are non yet traders. They are just...beginners alongside some results. They are "forum traders"...
Strategies Sellers
If yous tin merchandise profitable, yous tin create millions, past times starting alongside few thousands. Why should this trader allow this "stress" of having clients, for few thousands/month, only?
They are "forum traders" that had some results...but non enough. Why do I think this way?
It is simple: How much coin tin yous make, past times starting alongside $1 as well as having 100% turn a profit (ROI), inwards xxx days?
Do the math for yourself. You don’t have got to create 100% as well as yous shouldn’t count days. Months or years volition do, to have got millions. Not to refer yous don't have got to start alongside $1...
So every fourth dimension yous run into a trader selling a strategy inquire yourself this:
If it is that profitable, why does he/she sell it?
And why is it hence cheap?
Would yous sell a strategy that tin acquire yous millions?
How much coin would yous inquire for it?
The spider web is total alongside these "successful strategies" alongside exclusively $ 99.9! And when it comes to results...the monthly turn a profit is betwixt 99.9%-999999999% :)
So they built "good looking" websites as well as sell yous the success inwards "just 1 click". Also, they have got neat reviews (fake ones) every bit comments (or at nowadays the upgraded versions of advertising it: many small-scale websites around the large one, alongside faux communities, reviews, etc)
"What are yous waiting for? Get it at nowadays alongside $99!!!"
I'm certain that many of yous have got a "deja vu", again... :)
EAs/Indicators Sellers
Ohh...what sweetness memories. These products started few years ago, when if yous were visiting a forum as well as yous dare to utter nearly your strategy, the firstly comment would have got been "Sounds neat man! Can yous portion alongside us the EA? Please, please, please...” If yous didn’t have got one...you should have got felt ashamed of yourself every bit a trader as well as run away crying to human face for a programmer to create it fast :)
Today, nosotros must concord automated trading is the best, but since yous dont have got a bank/hedging society EA to buy...why bother? All the other products on the marketplace are just...
Why? Remember this?
If it is that profitable, why does he/she sell it?
And why is it hence cheap?
Would yous sell a EA that tin acquire yous millions?
How much coin would yous inquire for it?
This production is also sold past times beginners or unprofitable yet traders. Most of them are non exclusively claiming they are traders. They say they have got 10y marketplace experience. This is how they got the strategy as well as worked genuinely difficult to create the EA. If yous inquire them how quondam they are...25 seems their lucky issue :)
(So they started trading at 15y)
Book Writers
There are practiced books inwards this field. But also some that volition create yous to waste product your time...and money.
By searching the eBay for some practiced novel books, I wanted to know to a greater extent than nearly the author of that "good book" I was watching, for sale $20 or something. I’ve checked the reviews...lots of positive ones. The practiced purpose came when I clicked on the author ID to view other books he writes about. He turned out to writes practiced books also, about: cooking, gardening, paintings, sculpting, travel, etc....and trading.... :)
Also, if yous volition cheque some "great writers" books at the bibliography of mass yous volition notice out their "source" was many other practiced books. So nada new...copy+paste similar on forums (ofcourse edited alongside his ain words - copyrights laws).
Therefore to notice a practiced as well as helping mass nearly trading, today, is genuinely a challenge. Me personally, I've read thousands...and I must say less than 20% were good. The residual were such a waste product of practiced night's sleep...
That's why I tin telephone telephone trading "books selling" only the upgraded version of the "forum trader", when some beginners think they tin "make some coin fast", piece advanced traders, utilisation the marketing tricks to "write a novel book", that doesn't necessary portion something novel or unwritten until now. So, most of them only "sell" their personal brand, non the books value...And I am genuinely disappointed nearly my quondam "idols"...new books.
Trainers
You know how they say: "If yous can't trade...teach!"
So, why should yous pay for a trainer ...in trading? For his spent fourth dimension alongside you?
Shouldn't he consider this every bit something to "give dorsum to this field”?
And if his lessons are gratis around the web...and he can't merchandise successfully...what am I genuinely paying? Probably they think they learn yous "how to do it". Yet, they neglect to do it...for themself...if they accuse yous for this.
Some say that they similar ...to travel. So this is the best way to move for free...When I withdraw heed this "starting joke" at some courses...meetings, I leave of absence immediately. To think of it, to say it inwards forepart of other people, when yous pretend yous are a trader...This is hence LAME, again...
Yet, at that topographic point are lots of "gurus" around the web. Usually they claim they are successful traders...And have got some vivid description "Best trainer inwards the..." or "The most honey trainer inwards the ..."
Who gave him this ...title? Himself!
But I have got to agree, at that topographic point are some neat courses out there. But how many of yous payed some courses...that didnt helped yous at all, every bit trader? "Deja vu", again? :)
I've attended many courses inwards my life. Few related to trading. And I must admit, most of them didn't offering me novel knowledge. Mostly, these courses tin hold upwardly helpful for your...moral. But for this yous shouldn't pay hundreds or thousands of dollars...
Finding a practiced course of educational activity tin hold upwardly again, a challenge. All websites have got payed "advertising": articles, forum comments, social networks, etc. So, finding decent reviews is hard. I started to think that friend’s reviews are the most trusted opinion. But this also turned out to go out a "referral" business, (like inwards MLM "businesses" that made friends avoid contact alongside other friends that already "joined the system", because they can't halt "recommending it"...for a commission...).
Money Managers
By the book, a MM is a soul that manages their client’s accounts. And yes, these MM should hold upwardly traders. The work is that every 1 is claiming around the spider web that he/she is a Money Manager.
I'm certain that my follows already know the TV Show (best documentary) "Million Dollars Traders!" produced past times BBC. The purpose of the documentary was to notice out if some persons alongside no previous noesis nearly the marketplace tin go out traders. Why? Because the Fund Manager, used to hire people alongside "experience" as well as non all of them...were profitable. They admitted that finding practiced traders is hard, because practiced ones merchandise for themself. And those that are willing to bring together don't come upwardly for a monthly salary, but for a large commission...which is non that practiced for their business. So they tried over the years to prepare traders. Again, later teaching them to merchandise profitable, they were leaving for edifice their ain business...or carrier. :)
So if a large trader, does he chose to non go out employee but decided to go for himself, every bit trader (or for his ain company), why does he demand clients?
Today, people are false a MM alongside a "signal provider" that portion his trades alongside a "trade copier" software.
In my thought the definition past times the mass for MM, should hold upwardly for institutional traders, only.
And a Private MM, should hold upwardly able to learn yous a strategy/a arrangement (without beingness a strategy seller), as well as hence to hold upwardly able to guide yous (without charging for teaching) as well as and hence to go out your mentor when yous start to acquire inwards on the marketplace (not to "share" his ain trades using a "trade copier" or to sell yous signals). And yes for this he mightiness accuse a monthly commission, when yous have got profits.
Why? Well, he tells yous how to do it...shows yous how to it...and yous are doing it, eventually, alongside his help. Working similar this alongside a practiced MM, tin assist yous go out a trader yourself, eventually, inwards 1-2 years, but later that, yous tin merchandise for yourself, without paying thousands of dollars for books, courses, etc. So this tin salvage yous coin as well as ...time.
But finding 1 time to a greater extent than a practiced MM, is genuinely a challenge. Especially at nowadays alongside these "performance links" websites, that claim they exhibit yous MMs. Yet, they are nada but, signal providers. They won’t learn yous how; they volition only "share" their trades alongside you...as long every bit yous volition pay for it. And fifty-fifty if yous notice a practiced one, if he volition stop, someday, yous must search all over again. Because yous wont hold upwardly able to merchandise for yourself. Not to refer non using their money, doesn’t correspond a guarantee. They tin fund their concern human relationship alongside $100 as well as they tin have got $1 mil from their clients. If he loses that $100, he volition only create a novel concern human relationship :)
That's why, I also concord alongside practiced traders, every bit MM, that builds their ain society using shareholders every bit long every bit they tin fund 51% from the trading budget. People that can't trade, they tin hold upwardly partners on a trading society that uses their coin for trading on the markets- similar a Hedging Company. If the MM is non practiced plenty he volition lose his coin likewise (as an extra guarantee).
Conclusion:
As yous tin see, at that topographic point are many sellers inwards this field, on the web. Not all are traders. I think at that topographic point are to a greater extent than sellers than traders. Is difficult to create this statistic, because I don't think all of them volition acknowledge it.
I permit yous to hold upwardly the jurist of that. Just lookout the posts on trading groups on Facebook, forums, etc. And say me who is genuinely sharing something for free. How many of these gratis services do yous consider useful as well as how many tin hold upwardly consider "marketing tools" for these services. Not to refer that I know practiced gratis sources on the spider web that aren't free...anymore.
Best Regards,
^^_Lord_Ice_^^
While nosotros are surfing the web, nosotros view a real aggressive advertising campaign, unremarkably promoting services related to trading. We tin say this is ok. This is how they human face for their clients. Now, since social networking has exploded, nosotros notice many people promoting trading.
Some of them claiming they are "traders for living". This tin create us believe that everyone is trading today. So who is behind this advertising around the web? Usually these guys have got the "I'm a rich person, I do this only for fun!" attitude, when they promote the "services" (claiming they are existent traders).
Another work starts when this variety of “trader" starts to combine these "services" presented downwards below as well as offering yous a consummate "portfolio" of services, from opening an concern human relationship to managing it. You volition never hold upwardly a successful trader "working" alongside these guys. You volition only fill upwardly the "more than 95% losers" inwards this field.
You tin spot many of them on Facebook, unremarkably having a "sexy girl" every bit their profile photograph (not to a greater extent than than three photos). Just assay to read the comments on their photos: "wow, hence hot!", "what a beautiful IB/MM, I have!", "thanks for beingness my friend...you are hence sexy!”
First fourth dimension yous notice that, yous volition create a huge LOL, but if yous volition assay to think to a greater extent than nearly it...you volition start to cry. This is how many miserable people are tricked as well as unremarkably they lose all their money. Me, personally, I would never ever pay for something (service/product), only because a "sexy girl" presents me that offer, but I estimate at that topographic point are lots of miserable men out there...
In my province at that topographic point is a saying: "Is non a fool the 1 that ask...but the 1 that pay the ...****! I estimate inwards this example these "traders", that demand to sell services to “make a living” from trading, are right, but is this ethical? Is at that topographic point anyone going to do something nearly it?
I'd similar to believe that at that topographic point are even hence fair people out at that topographic point that promote these services, inwards an honorable manner. This should hold upwardly the smart people’s business, non a scammer’s world.
Introducing Brokers
Introducing Brokers are unremarkably promoting their referral links. If yous click on these links as well as register to that broker, they volition have a committee (place your mouse on that link as well as yous volition view some foreign digits as well as characters on your Add-on bar, bottom-left on your hide - if yous have got it activated on your browser)
This committee tin hold upwardly paid 1 fourth dimension only, either when yous register every bit a customer or a monthly % from spreads. Until now, it looks good. We tin consider IBs every bit a sales mobile subdivision of a broker, but what if this IB is spamming the web? (E-mail, facebook groups walls, "smart comments" on forums, etc).
Why should I select this annoying soul from all the others thousands of IBs, promoting the same broker? Is he/she going to introduce me the broker services inwards a fair way? Does he have a proper preparation on how to introduce the broker services?
The respond is no! If yous don't believe me, assay to contact a broker that offers IB programs.
No marketplace sense needed (if yous refer yous have got it, is to a greater extent than than enough). No anti-spam policy explained (only mentioned inwards the contract, but nobody consider it if yous study it for whatever IB), non to mention, no proper preparation for giving to their clients, proper consultancy.
You should consider it twice, if your brokers offer/allow this variety of promoting. For me, fifty-fifty if they volition alter their "policy" inwards the future, I won’t fifty-fifty consider talking alongside these brokers. (I have telephone calls, e-mails alongside "business" proposals, every week). There are a few of them that already "look big" on the web, because of this aggressive advertising from IBs. Unfortunately, every bit brokers, they offering lousy services!!!
Signals Providers
These services, inwards my opinion, are the beginner trader’s worst nightmare. Being their clients, yous volition never larn how to trade. Being successful inwards this patch way yous volition larn from your mistakes.
How tin yous larn if yous don’t fifty-fifty know the reasons for placing that social club on the market?
You volition acquire feed on SMS, e-mail, social networks, alongside some "signal": purchase here...exit there. If they are right...you don't sympathize how. If they are wrong, yous lose to a greater extent than than money: You volition lose to a greater extent than than that. You volition lose the chance to larn from that bad trade, non to mention, yous volition never "learn how to direct handle of your ain fishes". You volition ever depend on that "service" for every bit long every bit yous volition live...
Now, this "gang" is gathered on large websites that promote "performance links". This is some other "trend" inwards this field. This is also a neat IB concern for the websites owners. To proceed their "performances links" inwards house for to a greater extent than than a month, they have got to opened upwardly their existent concern human relationship on that website (referral link), yet, this is something that everyone forgets about:
"Past Results Do Not Guarantee Future Profits!"
And the worst part...I notice everyday, "known" traders around the basis starting their ain "signals services" business, instead of funding a society alongside shareholders, to invest on the market.
I notice that hence LAME...
Forums Traders
The get-go was great. I even hence call upwardly those days, when at that topographic point were few fair forums on the web. H5N1 prissy house where yous could talk, portion your results, larn from advanced traders, as well as larn from their mistakes...
Those days are gone...and volition never hold upwardly the same again. Now forums have got advertising contract as well as write articles for paid advertising, go out IBs (sharing referral links) or started "performance links" business...
The forum traders now, are by as well as large beginners. They read a few things as well as tested it on demo and...Done. They are at nowadays "gurus" as well as learn trading! Every forum yous mightiness join, have got thousands of threads opened...with dissimilar strategies as well as systems that had thousands of followers posting every day...charts, results...until eventually they stopped doing that as well as the thread was closed...Why ? Doesn't it go anymore?
Then the quondam followers go out "gurus" as well as have got the thought as well as start a novel thread posting quondam links: "this is the master copy idea...and nosotros are only improved it as well as terminate upwardly alongside this...” And this...usually halt before than the master copy idea, because they don't have got plenty followers as well as expected results...
Then at that topographic point is the "forum trader", thinking of starting his ain "business"...by making his ain forum. This is how all the forums around the spider web at nowadays have got the same ideas (sometimes only copy+paste) from the FF Forum...the firstly neat place... This is how, learning from the web, today (for free), inwards 80% of cases is only a lost time...Sometimes money, too, if yous opened upwardly a existent concern human relationship without months of demo testing, before. And past times testing all ideas shared on the spider web today...could genuinely have got yous years...
So they thought: It is either yous have got fourth dimension to acquire proper preparation inwards this field...or coin to lose to buying other’s "experience". Sometimes it is both. I'm certain many of you, have got a "deja vu" past times reading this.
Advanced traders are no longer on the web, sharing for free, their experiences. They are "hidden", now, due to this "big noise" nearly the trading, everywhere.
Years ago, an advanced trader didn't have got to "show" his statements. It was plenty for us that he could respond all our questions, alongside lots of most logical details, for free. Also, when having lots of coin inwards your account, yous volition start to think of personal security...so no existent names, no other details.
Hey, have got whatever of yous seen the Warren Buffet "performance link”? How nearly his investor password? How nearly George Soros? Any other large trader's statements? :) I tin assure you...you won’t view it! If a fair large trader what to portion his results volition create a society alongside shareholders, to invest on the market. (Like Warren Buffet did alongside Berkshire Hathaway Inc.)
Back then, when beginners were happy nearly results, they wanted to "show off" a fleck as well as they were publishing their results (less than $ 50k). Now all beginners alongside few hundreds inwards their concern human relationship "show off" alongside their statements to earn clients. Why? Their arrangement is non working that practiced to "trade for living”?
This category represents that 80% noise...that volition halt presently as well as they volition vanish (when their "system" volition halt working similar on FF Forum, years ago). But novel ones are coming...so lookout out of these "show off" guys! They are non yet traders. They are just...beginners alongside some results. They are "forum traders"...
Strategies Sellers
If yous tin merchandise profitable, yous tin create millions, past times starting alongside few thousands. Why should this trader allow this "stress" of having clients, for few thousands/month, only?
They are "forum traders" that had some results...but non enough. Why do I think this way?
It is simple: How much coin tin yous make, past times starting alongside $1 as well as having 100% turn a profit (ROI), inwards xxx days?
Do the math for yourself. You don’t have got to create 100% as well as yous shouldn’t count days. Months or years volition do, to have got millions. Not to refer yous don't have got to start alongside $1...
So every fourth dimension yous run into a trader selling a strategy inquire yourself this:
If it is that profitable, why does he/she sell it?
And why is it hence cheap?
Would yous sell a strategy that tin acquire yous millions?
How much coin would yous inquire for it?
The spider web is total alongside these "successful strategies" alongside exclusively $ 99.9! And when it comes to results...the monthly turn a profit is betwixt 99.9%-999999999% :)
So they built "good looking" websites as well as sell yous the success inwards "just 1 click". Also, they have got neat reviews (fake ones) every bit comments (or at nowadays the upgraded versions of advertising it: many small-scale websites around the large one, alongside faux communities, reviews, etc)
"What are yous waiting for? Get it at nowadays alongside $99!!!"
I'm certain that many of yous have got a "deja vu", again... :)
EAs/Indicators Sellers
Ohh...what sweetness memories. These products started few years ago, when if yous were visiting a forum as well as yous dare to utter nearly your strategy, the firstly comment would have got been "Sounds neat man! Can yous portion alongside us the EA? Please, please, please...” If yous didn’t have got one...you should have got felt ashamed of yourself every bit a trader as well as run away crying to human face for a programmer to create it fast :)
Today, nosotros must concord automated trading is the best, but since yous dont have got a bank/hedging society EA to buy...why bother? All the other products on the marketplace are just...
Why? Remember this?
If it is that profitable, why does he/she sell it?
And why is it hence cheap?
Would yous sell a EA that tin acquire yous millions?
How much coin would yous inquire for it?
This production is also sold past times beginners or unprofitable yet traders. Most of them are non exclusively claiming they are traders. They say they have got 10y marketplace experience. This is how they got the strategy as well as worked genuinely difficult to create the EA. If yous inquire them how quondam they are...25 seems their lucky issue :)
(So they started trading at 15y)
Book Writers
There are practiced books inwards this field. But also some that volition create yous to waste product your time...and money.
By searching the eBay for some practiced novel books, I wanted to know to a greater extent than nearly the author of that "good book" I was watching, for sale $20 or something. I’ve checked the reviews...lots of positive ones. The practiced purpose came when I clicked on the author ID to view other books he writes about. He turned out to writes practiced books also, about: cooking, gardening, paintings, sculpting, travel, etc....and trading.... :)
Also, if yous volition cheque some "great writers" books at the bibliography of mass yous volition notice out their "source" was many other practiced books. So nada new...copy+paste similar on forums (ofcourse edited alongside his ain words - copyrights laws).
Therefore to notice a practiced as well as helping mass nearly trading, today, is genuinely a challenge. Me personally, I've read thousands...and I must say less than 20% were good. The residual were such a waste product of practiced night's sleep...
That's why I tin telephone telephone trading "books selling" only the upgraded version of the "forum trader", when some beginners think they tin "make some coin fast", piece advanced traders, utilisation the marketing tricks to "write a novel book", that doesn't necessary portion something novel or unwritten until now. So, most of them only "sell" their personal brand, non the books value...And I am genuinely disappointed nearly my quondam "idols"...new books.
Trainers
You know how they say: "If yous can't trade...teach!"
So, why should yous pay for a trainer ...in trading? For his spent fourth dimension alongside you?
Shouldn't he consider this every bit something to "give dorsum to this field”?
And if his lessons are gratis around the web...and he can't merchandise successfully...what am I genuinely paying? Probably they think they learn yous "how to do it". Yet, they neglect to do it...for themself...if they accuse yous for this.
Some say that they similar ...to travel. So this is the best way to move for free...When I withdraw heed this "starting joke" at some courses...meetings, I leave of absence immediately. To think of it, to say it inwards forepart of other people, when yous pretend yous are a trader...This is hence LAME, again...
Yet, at that topographic point are lots of "gurus" around the web. Usually they claim they are successful traders...And have got some vivid description "Best trainer inwards the..." or "The most honey trainer inwards the ..."
Who gave him this ...title? Himself!
But I have got to agree, at that topographic point are some neat courses out there. But how many of yous payed some courses...that didnt helped yous at all, every bit trader? "Deja vu", again? :)
I've attended many courses inwards my life. Few related to trading. And I must admit, most of them didn't offering me novel knowledge. Mostly, these courses tin hold upwardly helpful for your...moral. But for this yous shouldn't pay hundreds or thousands of dollars...
Finding a practiced course of educational activity tin hold upwardly again, a challenge. All websites have got payed "advertising": articles, forum comments, social networks, etc. So, finding decent reviews is hard. I started to think that friend’s reviews are the most trusted opinion. But this also turned out to go out a "referral" business, (like inwards MLM "businesses" that made friends avoid contact alongside other friends that already "joined the system", because they can't halt "recommending it"...for a commission...).
Money Managers
By the book, a MM is a soul that manages their client’s accounts. And yes, these MM should hold upwardly traders. The work is that every 1 is claiming around the spider web that he/she is a Money Manager.
I'm certain that my follows already know the TV Show (best documentary) "Million Dollars Traders!" produced past times BBC. The purpose of the documentary was to notice out if some persons alongside no previous noesis nearly the marketplace tin go out traders. Why? Because the Fund Manager, used to hire people alongside "experience" as well as non all of them...were profitable. They admitted that finding practiced traders is hard, because practiced ones merchandise for themself. And those that are willing to bring together don't come upwardly for a monthly salary, but for a large commission...which is non that practiced for their business. So they tried over the years to prepare traders. Again, later teaching them to merchandise profitable, they were leaving for edifice their ain business...or carrier. :)
So if a large trader, does he chose to non go out employee but decided to go for himself, every bit trader (or for his ain company), why does he demand clients?
Today, people are false a MM alongside a "signal provider" that portion his trades alongside a "trade copier" software.
In my thought the definition past times the mass for MM, should hold upwardly for institutional traders, only.
And a Private MM, should hold upwardly able to learn yous a strategy/a arrangement (without beingness a strategy seller), as well as hence to hold upwardly able to guide yous (without charging for teaching) as well as and hence to go out your mentor when yous start to acquire inwards on the marketplace (not to "share" his ain trades using a "trade copier" or to sell yous signals). And yes for this he mightiness accuse a monthly commission, when yous have got profits.
Why? Well, he tells yous how to do it...shows yous how to it...and yous are doing it, eventually, alongside his help. Working similar this alongside a practiced MM, tin assist yous go out a trader yourself, eventually, inwards 1-2 years, but later that, yous tin merchandise for yourself, without paying thousands of dollars for books, courses, etc. So this tin salvage yous coin as well as ...time.
But finding 1 time to a greater extent than a practiced MM, is genuinely a challenge. Especially at nowadays alongside these "performance links" websites, that claim they exhibit yous MMs. Yet, they are nada but, signal providers. They won’t learn yous how; they volition only "share" their trades alongside you...as long every bit yous volition pay for it. And fifty-fifty if yous notice a practiced one, if he volition stop, someday, yous must search all over again. Because yous wont hold upwardly able to merchandise for yourself. Not to refer non using their money, doesn’t correspond a guarantee. They tin fund their concern human relationship alongside $100 as well as they tin have got $1 mil from their clients. If he loses that $100, he volition only create a novel concern human relationship :)
That's why, I also concord alongside practiced traders, every bit MM, that builds their ain society using shareholders every bit long every bit they tin fund 51% from the trading budget. People that can't trade, they tin hold upwardly partners on a trading society that uses their coin for trading on the markets- similar a Hedging Company. If the MM is non practiced plenty he volition lose his coin likewise (as an extra guarantee).
Conclusion:
As yous tin see, at that topographic point are many sellers inwards this field, on the web. Not all are traders. I think at that topographic point are to a greater extent than sellers than traders. Is difficult to create this statistic, because I don't think all of them volition acknowledge it.
I permit yous to hold upwardly the jurist of that. Just lookout the posts on trading groups on Facebook, forums, etc. And say me who is genuinely sharing something for free. How many of these gratis services do yous consider useful as well as how many tin hold upwardly consider "marketing tools" for these services. Not to refer that I know practiced gratis sources on the spider web that aren't free...anymore.
Best Regards,
^^_Lord_Ice_^^
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