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I am concerned by anyone who encourages the Great Financially Unwashed (of
which I am one) to trade in options (arguably a zero-sum game), and think
they are not in over their head. I have traded options with some degree of
success, but I treat them with far greater respect than Wade Cook. Mr. Cook
"teaches" like a used-car salesman teaches. He does not have your best
interests at heart. There are other authors who are more objective and
attuned to the subtleties of options.
Be careful out there.
>A comment on Wade Cook, etc:
>Wade Cook's simplification of the options
>market has made it easier to understand its complexities. Of ocurse, he
>wants to make a lot of money teaching other people. I see nothing wrong
with
>it- Isn't that Capitalism all about?
>
>Everyone with new ideas has been slammed by others. Cook has his
drawbacks,
>but there are also many, many positives aspects to what he is doing.
>
>Those with intelligece will take his teachings with a grain of salt. They
>will check them out. However, learn they will, and in the long run
>participation by more people in the market will be beneficial for all -
>including this site.
>
>Girish Patel, M.D.
>
>
>
>Patrick Slevin wrote:
>
>> Generally I try to stay out of discussions of this nature, as it oft
>> seems to be a chicken-and-egg question. I'll give it a shot one time.
>> Perhaps my reasoning has a flaw I would like to know about.
>>
>> Many people read books, buy newsletters, and attend seminars to
>> understand trading concepts. The presumption that these people would not
>> be selling information that was worthwhile ( because, as you say "if
>> your software or system or book is soooo good, why aren't you so wealthy
>> you don't give a shit about the rest of us by USING IT INSTEAD OF
>> SELLING IT?") is to say that
>>
>> Authors like John Murphy, Larry McMillan, Martin Pring, Bill Eng, et
>> cetera should be avoided.
>>
>> Seminars provided by Larry McMillan should not be attended.
>>
>> Newsletters by McMillan, Gene Inger and so on should not be subscribed
>> to.
>>
>> Now, I don't think anyone would seriously argue that these people don't
>> have talents or systems that are worthwhile. Why are they selling the
>> information? Perhaps because;
>>
>> -It's profitable (I understand L. Raske, uncertain of the spelling, does
>> not actively trade any longer. She makes more money selling
>> information.)
>>
>> -It's rewarding emotionally.
>>
>> -In the case of seminars, feedback is available that hones the skill of
>> the preesenter of the seminar.
>>
>> -In each of these (Writing books, giving seminars, selling newsletters)
>> the upshot for the provider is the reult that his/her skills are kept
>> sharp.
>>
>> ...and perhaps a dozen more. So personally I understand the viewpoint
>> that "if it's so good ...why sell it". But if you apply that across the
>> board, what would be worth reading and how would we learn?
>>
>> --PJS
>>
>>
>> > Zane,
>> >
>> > Isn't the real bottom-line question whether their system works, i.e.,
>> > makes you some money?
>> >
>> > Isn't it possible that a wolf could be there in sheep's clothing who
>> > really believes he is a sheep? A lot of people who are basically
>> > in sales have the outlook of helping humanity. Really, it's true!!!
>> > What does sincerity by itself mean?
>> >
>> > He could be just sincerely wrong.
>> >
>> > What I find more important is whether I am completely honest, and in
>> > whatever way I can find out whether my vendor is honest. This should
>> > include some clue like: if your software or system or book is soooo
>> > good, why aren't you so wealthy you don't give a shit about the rest
>> > of us by USING IT INSTEAD OF SELLING IT?
>> >
>> > That could sound a bit severe. Some of the vendors could really be
>> > at this to help others without regard to profit (hah!).
>> >
>> > The market is a table where many people are putting down money, many
>> > others are taking money off the table. Which of them do you belong to?
>> > Which bunch do you want to belong to? The sellers of books, software
>> > and systms ARE NOT OUT THERE TO PUT MONEY ON THE TABLE FOR YOU.
>> >
>> > You have to be totally honest.
>> >
>> > Pete
>> > petena9090@xxxxxxxxxxxxxx
>
>
>
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