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There are all of those out there looking for something for nothing. You get
what you pay for. Yes there are frauds in every business. Whether it be
banking, law, medicine, or any other profession. It is up to the ones that
seek the knowledge to find those that actually have the knowledge. If it
wasn't for the those that risked and found the mines, the merchants wouldn't
have anyone to sell their shovels or whisky to. There is no intrinsic value
to stocks. They are peddled on a greater fool theory. They are only worth
what someone else will pay for them. Futures are a little different. You do
get a product for your money. The whole thing is a numbers game. The trick
is to know how the game is played. I have been doing this for over thirty
years and I have seen the whiz kids come and go. Gann, Eliot, Hurst, Lane,
Moving averages, MACD, and everything else has been around for years. With
the sophisticated computers, the constant back testing, the neural nets, and
the movement of the planets, with all that knowledge out there, it is still
the ones that understand what they are looking at who will be the winners and
those that keep searching will be the losers. At some point in your life you
have to take a chance. Because you went to 4 years of college, 3 years of law
school and passed the bar doesn't mean that you will be a successful
attorney. Neither will years of study to become a doctor make you a great
surgeon or medical guru. It doesn't matter if you went to Harvard, Stanford,
Yale or Podunk U., the cream will come to the top. So all you nay sayers stay
in your little group and continue down the same old path. Look for that
little freebie that will set you free and make life a wonder for you. It does
give you something to look forward to. Have a good week Ira.
Levent Erbora wrote:
> ----- Original Message -----
> From: "DH" <catapult@xxxxxxxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Saturday, May 19, 2001 3:15 PM
> Subject: Re: [RT] Mentors:What makes a good Mentor
>
> >
> > Yep. Unfortunately, there seems to be an inverse relationship between
> > the amount charged and the quality of instruction. The very best stuff
> > is free. I look at it this way. If a trader has been in the business for
> > xx years, and is good at his craft, he is making enough that he has no
> > need for the chump change of student tuition. If he is charging the big
> > bucks for tuition, he is probably depending on that for his income,
> > rather than the profits from his trading. You need to ask yourself why
> > that is. One possibility is that he is not as great a trader as he
> > claims and finds it easier to make money teaching. There are some great
> > traders who get personal satisfaction from teaching. They don't need the
> > money and they don't charge anything. Look at the stuff Tim posts on his
> > web page as an example. He uses the internet as an easy way to
> > communicate with as many people as possible and it's all free. Even
> > Mark, with his own unique style <g>, gives away a lot of good stuff for
> > free. Contrast that to those who drop vague hints about "secret
> > knowledge" and refuse to impart their "knowledge" unless you pay (and
> > pay and pay). It's pretty clear to me who is motivated by a sincere
> > desire to help and who has other motives.
> >
> > --
> > Dennis
> >
>
> Yes! I couldn't agree more. And the same goes for system vendors, manual
> vendors, newsletter writers, 1-900 operators (remember them?), chat room
> operators, etc. etc. as well.
>
> Regards,
>
> Levent
>
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