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HI RTs,
I'm a beginner trader and surprised on the upheaval on the promoters.
Yes I read Ken Roberts' promotion. He was not my style, but I do
paper-trading (one of the idea describe in his promotion), because I came
to the conclusion to do it without his seminar. I don't know how much the
idea stuck to me from his promotion, or from the other books that also
suggested it, which I read in the course of preparing for trading.
What are the major expenses of doing the trading business: books, seminars,
data, software, commission and TIME, TIME, TIME etc.
Are the books and seminars the major expenses of doing the trading
business. Who has the choice of deciding which one to read?
I have much more problems with data vendors, who in a computer age send out
data without quality check every day for a monthly fee and don't do
anything about it.
I have much more problems with software which claims to test systems and
than it does not take into the account the short stop loss orders in the
testing.
Books: you can buy them and return and buy a new one. How many choices do
you have. Newsletters: try their trial subscription.
I don't think we have the same variety from data vendors and software. If
I don't like a book I just don't finish reading it (spend the time on other
more useful thing). I have the decision over it.
If I don't have the right data or my software does not signal at the
"right" time that's what I call frustration. And these products are
heavily promoted as "exceptional all time winners" too in the
trader/investor community (traders magazines).
One of the principles in creating wealth is spend your time on asset
producing activities. Write a book and let others sell it. You create
wealth for yourself, and create jobs for others who sell it. If it does
not have enough information that is useful people will not buy it. Once
you wrote the book you don't need to spend more of your time on it (unless
it is a seminar selling book).
This is not a sin. I would like to spend my days in more percentage on
"asset producing" activities.
Do I produce asset when I call my data vendor and manually change the data.
I don't think so, and it does not even create job for somebody else
either.
Does anybody ask other people, who wear coat, about a $200 coat whether
they like it and would buy it or not? What if no one else likes it but me,
do I still buy it, or not? If no one else likes it, and I don't buy it do
I go out to trash the company/CEO who makes it?
What should be my priorities in trading?
Independently Yours,
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