How ironic it is that a man's life should depend upon a scrap of paper and some metal coin in the pocket!
Now coming to the whole panoply of investment newsletters and advisories and trading clubs and the world of gurus, sages and wisemen; is any of this stuff actually worth reading at all?
When the internet first came round in the 1990's one of the very first gurus I encountered was none other than the now world famous commodities trader Ken Roberts. A lot of people questioned the merits and wisdom of proclaiming that one may consistently make profits in the futures markets with a mere $1000. Such advertising just sets itself up for criticism and of course now we have the internet and pretty much anyone can write any piece of criticism on an investment guru. But a sale is a sale is a sale and the community of gurus are adept at marketing and capturing the unenlightened with dreams of grandeur.
In addition today we have other gurus like Ken Trester, Adam Mesh and Timothy Sykes to mention a few. utilizing the power of networking and affiliate marketing programs supervised by such companies as Clickbank, the landscape of the internet has become saturated by club membership offers of investment gurus with the promise of consistent profits in their respective markets.
Were it easy to join a club, listen to a few signal advisories and then reap all the glory; then pretty much $100 a month would be a well spent $100 indeed! But is reality is far, far more different that the world usually portrayed by internet marketing. otherwise we will all be making money consistently wouldn't we?
Whether right or wrong the investment guru has to be very smart in harnessing the powers of internet marketing to get his message across to potential traders. But as far as content is concerned some gurus have attracted a fair amount of criticism for providing recommended trades that just never seemed to happen. In defense of the guru one may add the world is largely unpredictable; that seems to be a true and fair statement. If we recall last January how the Swiss central bankers unpegged the Swiss Franc from the Euro currency that was a massive shock that actually sent many traders into bankruptcy. Now not even a top bank analyst foresaw that market move. Furthermore, we have to add that the guru does have to undertake an enormous amount of research work to offer the basis of his proposals to his target audience. Moreover, the reputation of the guru is on line to gt his message across and translate that into a victory for the member participant. So, overall one may assume that many of the investment gurus do actually mean well and do seriously make an effort to provide us with their own insights for our protfit. But those insights and judgements are never 100% accurate and that is something we as readers have to understand and live with. Yes we pay money to get good advice and enter some profitable trades. But honestly such advisories need further research. It is up to the trader to look at a trade advice and measure it with his own slide rule. We cannot be spoon-fed and allow us to think that we can robotically enter trades on other people's assumptions and make money consistently. In that sense then the guru is merely the guide and it is the onus of the reader to undertake further analysis to measure and develop the trading idea with a view to maintain a flexibility on the suggestion whenever the winds of the market change direction on a dime.
Reading other peoples advice is welcome; good counsel is always appreciated. But at the end of the day we are the masters of our own destiny and the right trading decisions are those that fit our investment horizons and temperament and tolerance of failure. There is no such thing as one glove fits all hands. Investment advice must be read within the context of building a foundation for a sturdy trade. A guru may build the base but you must build the structure to make the advice successful and failure contained so that you my move on to the next trade when thing go wrong.
Stocks, commodities, bonds forex; whatever your penchant; there is no excuse for complacency; education is a must and a continuous need through out the career of a trader.
Pieter Bergli - DeLoren Trust Holdings
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Futures and Options trading involves risks of losses. No representation is being made that any reader and account will or is likely to achieve profits or losses similar to those that are being discussed on this blog http://forexeducationperspective.blogspot.com/. The past performance of any trading system or methodology discussed is not necessarily indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
All trades, patterns, charts, systems, etc., discussed in this blog http://forexeducationperspective.blogspot.com/ are for educative and illustrative purposes only and not to be construed as specific advisory recommendations for actual trades. Disclaimer - http://forexeducationperspective.blogspot.com/ bears no responsibility for the trading actions of its readers
