I Cant Make You Money

This is a discussion on I Cant Make You Money within the General Trading Chat forums, part of the T2W Archive category; I don't actually trade futures but I do buy metals in the traditional manor and have made good money. the ...

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Old Nov 30, 2006, 1:35pm   #1
 
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I Cant Make You Money

I don't actually trade futures but I do buy metals in the traditional manor and have made good money. the reason I want to say that straight out is to illustrate the fact that I am certainly not an expert in this field but I am aspiring to be.

As with all people trying to get into trading the initial impetus is to make smart money, I have noticed that many experienced traders seem to eventually become immersed in the lifestyle or scene as well (this is trivial for the moment). Its only natural at this stage that I am looking for predictive software at this point. I'm far too cynical to believe in a holy grail, yet I'm logical enough to think that there has to be something out there that could help me analyse the markets I wish to trade. so I began looking and found VantagePoint Trading Software amongst others. the testimonial video with the fake golf course in the background was enough to make me spew cynical remarks at my laptop but I keeping an open mind I looked to see what you lot had to say. What I found verified my gut feelings and I think that all together the sentiment is; scam!

Heres the thing though; while reading peoples opinions I came across a remark made by Mr. Charts US Trader, Coach and Mentor. He said this; “vendors would not sell a system that worked but would trade it themselves, wouldn't they?” for me this seems to be the big question that arises with software and systems, and I see it come up again and again.
He then went on to say:
“In all my years of trading and coaching 1-2-1 it never ceases to surprise me that most people waste half their lives searching for the Holy Grail of trading. It doesn't exist. What exist are methods and techniques that will earn you a damn good living and build up your capital week after week, month after month.” I agree with both of these comments. They are simple words that aim to quantify what’s involved in trading through having lateral and discerning views. BUT. If we are to be lateral and discerning ask your self this philosophically.
If a trading system or programme exists that is brilliant it would either be kept secret and used to benefit those who had it or it would become very popular and be used by many many traders. This is something that I don’t want to believe but rationally you just have to admit it. If we admit that then the next thing to question is the likes of Mr. Charts US Trader, Coach and Mentor. Why would anyone who had the ability to understand the markets bother their **** teaching people to make money. It utterly defies logic that they wouldn’t be skiing down a slope in Italy with a magnificent Russian woman right now. I’m really not having a go at anyone here and I don’t want to be Darwin at a creationist party, but the question is why would anyone make money for you or I?

If any one has come across something along these lines that is helpful and proves it self through a trial or history please tell me.

Thanks.
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Old Nov 30, 2006, 1:43pm   #2
 
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Give us some realtime entries exits stops

I Cant Make You Money
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Old Nov 30, 2006, 2:26pm   #3
 
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sometimes I dont know whether to laugh or cry

scams exist in all walks of life from the obvious make a million licking envelopes to the not so obvious extended warranty type stuff what they all prey on is the fact that the mark wants an easy route and is not willing to put any effort in to achieving the desired result.

Does a grail exist, yes, but in reality if it was posted on this or any other BB I would be willing to bet that 95% would dismiss it, and I would also be willing to bet that any institution would not give you the time of day if you had it.
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Old Nov 30, 2006, 2:27pm   #4
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There are probably many traders that trade their own account and make a living but without a significant stake you will find it hard to make more than a reasonable living. Teaching/mentoring is probably a good supplementary income. I spent 3 years trading my own money . It was difficult for me to make more than enough to cover all my office costs and living expenses during that period and by the end of it I had not actually been able to significantly increase my bet size for the last 12 months. The monthly income was just not increasing and so my margin limits were not either. After down weeks or months it got pretty stressful. It was not that I was not a successful trader either indeed % returns were far, far higher than I make now with the fund. I can see how another income stream to cover costs would be welcome in this circumstance. In this game however it is necessary to be very sure that whoever you are paying really does know what they are teaching. If they are geunuine they will be happy to provide proof of such before you part with a penny.
As for holy grail. I think many traders lost money trying to perfect a perfectly good and profitable system. I know, I have been through the whole process many times myself.
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Old Nov 30, 2006, 4:56pm   #5
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Quote:
Originally Posted by tselliot
I don't actually trade futures but I do buy metals in the traditional manor and have made good money. the reason I want to say that straight out is to illustrate the fact that I am certainly not an expert in this field but I am aspiring to be.

As with all people trying to get into trading the initial impetus is to make smart money, I have noticed that many experienced traders seem to eventually become immersed in the lifestyle or scene as well (this is trivial for the moment). Its only natural at this stage that I am looking for predictive software at this point. I'm far too cynical to believe in a holy grail, yet I'm logical enough to think that there has to be something out there that could help me analyse the markets I wish to trade. so I began looking and found VantagePoint Trading Software amongst others. the testimonial video with the fake golf course in the background was enough to make me spew cynical remarks at my laptop but I keeping an open mind I looked to see what you lot had to say. What I found verified my gut feelings and I think that all together the sentiment is; scam!

Heres the thing though; while reading peoples opinions I came across a remark made by Mr. Charts US Trader, Coach and Mentor. He said this; “vendors would not sell a system that worked but would trade it themselves, wouldn't they?” for me this seems to be the big question that arises with software and systems, and I see it come up again and again.
He then went on to say:
“In all my years of trading and coaching 1-2-1 it never ceases to surprise me that most people waste half their lives searching for the Holy Grail of trading. It doesn't exist. What exist are methods and techniques that will earn you a damn good living and build up your capital week after week, month after month.” I agree with both of these comments. They are simple words that aim to quantify what’s involved in trading through having lateral and discerning views. BUT. If we are to be lateral and discerning ask your self this philosophically.
If a trading system or programme exists that is brilliant it would either be kept secret and used to benefit those who had it or it would become very popular and be used by many many traders. This is something that I don’t want to believe but rationally you just have to admit it. If we admit that then the next thing to question is the likes of Mr. Charts US Trader, Coach and Mentor. Why would anyone who had the ability to understand the markets bother their **** teaching people to make money. It utterly defies logic that they wouldn’t be skiing down a slope in Italy with a magnificent Russian woman right now. I’m really not having a go at anyone here and I don’t want to be Darwin at a creationist party, but the question is why would anyone make money for you or I?

If any one has come across something along these lines that is helpful and proves it self through a trial or history please tell me.

Thanks.

Hi All,

As a Trader & Trading Coach, I feel somewhat compelled to get involved with this thread.

tselliot - you raise some interesting points which I would like to address.

Many people seem to have the view that anyone who can trade profitably would just suddenly want to sit back on some beach somewhere and trade and forget about the rest of the world. Just because someone can trade profitably does not mean that they are an automatic millionaire and ready to retire.

I personally have chosen to make a business out of privately tutoring clients because I enjoy to trade, and I enjoy talking about trading, and I want to interact with aspiring traders. I charge for my time because what I teach has enormous value.

I find people's views fascinating when they think that all successful traders must be millionaires and living the life of riley in Monte Carlo. Trading for a living is hard work and building your capital month-on-month, year-on-year, is a steady methodical process that requires commitment and hard graft.


Hope this serves to clarify a few points.


Thanks

Damian
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