Why do they do it?

SanMiguel · Jan 27, 2011, 10:10am

Quote:

Originally Posted by bedsit

I'm not impressed with the results: October +72 points, November +139 and Dec. -14

my god. The FTSE moves about 80 a day and he only captures that in a month?!

Trader1UK · Jan 27, 2011, 10:41am

Quote:

Originally Posted by DashRiprock

well look obviously there are going to be bad examples of people paying loads of money for courses and things which are bad

but to say that everybody who coaches or trains other traders is a phoney is well wrong.

Hmmmm,..

Looks like David Robertson aka "MrSpread betting" In disguise....

Pat494 · Jan 27, 2011, 10:48am

I think there are 2 main reasons for antagonism
1. The much hyped expensive course can't be got to deliver.
2. The vendor nearly always seems to imply he still has some better secrets up his sleeve and is not telling. So there !

DashRiprock · Jan 27, 2011, 10:50am

Quote:

Originally Posted by Si55AMG

Hmmmm,..

Looks like David Robertson aka "MrSpread betting" In disguise....

sorry but im not a spammer

robster970 · Jan 27, 2011, 11:05am

Vendor provides 'answer to problem'. Retail punter transfers problem ownership to vendor instead of realising it's of their own making.

There will never be a shortage of retailers living in denial. Vendors provide a service for them - to make themselves feel better. Endex.

Conversely I believe good mentors serve a different purpose and you probably already know how to trade in a basic sense before you'd get value from a mentor. They are not there to tell you how to do it, more to impart nuance and wisdom that shifts you up a gear.

DionysusToast · Jan 27, 2011, 11:14am

Quote:

Originally Posted by robster970

Vendor provides 'answer to problem'. Retail punter transfers problem ownership to vendor instead of realising it's of their own making.

There will never be a shortage of retailers living in denial. Vendors provide a service for them - to make themselves feel better. Endex.

Conversely I believe good mentors serve a different purpose and you probably already know how to trade in a basic sense before you'd get value from a mentor. They are not there to tell you how to do it, more to impart nuance and wisdom that shifts you up a gear.

Let's face it - anyone that's really any good does not want to be teaching monkeys that don't know what a limit order is...

amit1986 · Jan 27, 2011, 11:26am

Quote:

Originally Posted by DionysusToast

Let's face it - anyone that's really any good does not want to be teaching monkeys that don't know what a limit order is...

LOL but surely they are willing to learn...

DionysusToast · Jan 27, 2011, 11:45am

Quote:

Originally Posted by counter_violent

I'm completely at odds with 95% of posts in this thread.

Let me try and explain something. If you have an expectation of a trade direction, then the thing that proves the trade is the delivery of that expectation...in other words...when you are in the zone and things are going your way, that is the time to milk it for all it's worth.
It's exactly the same thing with Robster's poker quote. You have to press your advantage when that time comes.
When a boxer has someone on the ropes, he doesn't back off...he steps up his game to try and finish the job off !

Depends on the type of trading you are doing. I've read Phantom or the Pits and he says that you can't be succesful if you don't scale in to a winner. I've never met that guy but I know people that scale out of trades very succesfully.

On a long, scaling in averages up your price and scaling out averages it down. Averaging up your price moves UP the place you'll break even and the place you'll start to lose. It's not something I'd be comfortable with. Certainly if I were to do it, it would have to be pyramid fashion - that I'd probably be able to live with.

I don't think either way is right or wrong but I do feel that day trading is more suited to scaling out than scaling in. Now of course, if you scale out - you don't need the same position size each time, you might go 'all in' on a trade because you feel it's more likely to work out.

Obviously, on way allows you to be in a trade before 'pushing it' and another way requires you to have a clue from the start. If you have no feel for the chance of a specific trade working out, you can't really commit more to any it.

BTW - the phantoms book is free - let me know if anyone wants it. It's a good read.

Jan 27, 2011, 10:48am	#155
Pat494 Legendary Member Member Since Mar 2004 6,811 Posts	Re: Why do they do it? I think there are 2 main reasons for antagonism 1. The much hyped expensive course can't be got to deliver. 2. The vendor nearly always seems to imply he still has some better secrets up his sleeve and is not telling. So there ! __________________ Lift your eyes to the heavens

Jan 27, 2011, 11:05am	#157
robster970 Legendary Member Member Since Dec 2008 4,209 Posts	Re: Why do they do it? Vendor provides 'answer to problem'. Retail punter transfers problem ownership to vendor instead of realising it's of their own making. There will never be a shortage of retailers living in denial. Vendors provide a service for them - to make themselves feel better. Endex. Conversely I believe good mentors serve a different purpose and you probably already know how to trade in a basic sense before you'd get value from a mentor. They are not there to tell you how to do it, more to impart nuance and wisdom that shifts you up a gear. __________________ Confident about your performance? Perhaps you should consider the Dunning-Kruger effect Last edited by robster970; Jan 27, 2011 at 11:55am.

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