Wannabe stock traders are suckers for the marketing schemes of get rich quick gurus who take advantage of those whose expectations are awash with dreams of stock market wealth. Wannabe stock traders are not suckers because of some character flaw but because of their false expectations. Wannabe stock trading suckers expect to make a fortune on the outlandish belief that there is a holy grail indicator key ready to open the Wall Street faults. Wannabe stock trading suckers want so much for this to be true that they are willing to believe anything they hear, even if it sounds crazy to the sane mind. Don’t believe me? Take a look.
I begin my Trading in the Crosshairs Seminar, one of which I held this past Saturday, by handing out various recently published issues of a well known stock trading newspaper. I then select a few of the attendees to read the full page add on the back of each issue. The ads do not vary much but have the following characteristics:
1. The ads are usually located in a prominent place such as the back page. The suckers love the big ads on the back page reasoning “Wow, this must be important and of value. It is on the back page of a prominent newspaper.” Marketing 101: the back page of a newspaper is the best place to place an ad. It has nothing to do with how valuable a product is and everything to do with how many people see it!
2. The ads use enticing words and phrases. The suckers fall for the CAN’T LOSE propositions; the AMAZING PROFITS; the ability to master the system in LESS THAN A DAY; the SECRETS revealed for the first time, BLAH, BLAH, BLAH! The only secret revealed is the obvious number of suckers who continue to fall for this stuff as these high dollar ads continue to run almost every weekend. Those who are sane know that the AMAZING PROFITS FROM A CAN’T LOSE SECRET LEARNED IN LESS THAN A DAY is S saying HI to T.
3. The ads use specific profit numbers and percentages. The suckers are apparently too smart for round numbers so marketers use numbers such as HOW TO BE $1,675,838 RICHER and HOW TO WIN 94.18% of the time. And the one I really like: YOU CAN STILL LOSE NOTHING EVEN IF YOU ARE 99.9% WRONG. Unfortunately, the suckers just do not understand how the stock market works. It is as if you go to the stock market ATM, put in your 4 digit secret code, enter the exact dollar amount you want and presto! Go ahead, tell the market what you want and you will get exactly what you deserve.
4. The ads offer this great money making system for next to nothing. I love reading about how you can make $10,000 A DAY or HOW YOU CAN MAKE $323,000 IN TWO MONTHS or HOW YOU CAN TAKE $100 to $100,000 IN 23 WEEKS only to find out that it costs less than $50.00 to do so! I don’t know about you but if making $323,000 in two months requires an initial investment of only $49 count me in! Sign me up! For $49 you can call me a sucker 24/7! Am I the only sane person reading this stuff? Are you kidding me? I am looking everywhere for the SNAKE OIL SALESMAN SEAL OF APPROVAL while the suckers are writing their checks and licking their stamps!
For those who read what I say here and for those who attend my seminars, the message is the same: do not expect an indicator or system to make you rich because it won’t. Do not expect the market to easily open up its faults because it won’t. Do not expect another person to have the answer to your trading problems because he won’t. Instead, expect trading to be tough; expect the market to do whatever it wants; and expect your trading percentages to be much more in line with reality instead of fantasy.
DISCLAIMER: I am in no way questioning the integrity of anyone who markets a system, nor am I questioning the systems mentioned above. Everyone who is successful follows some sort of system. All I am doing is trying to shed light on a very serious matter. I feel it is my responsibility to share with stock trading wannabes how important it is to walk into the market with their eyes wide open and their wallets in their front pocket. Lord knows I have licked my share of stamps and written enough checks to know!!??!!
