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Thursday, May 5, 2011

The Secret Sauce

Let me address the secret sauce. I hate to burst your bubble but there is no secret sauce. That's just a fairy tale that scam artists who sell empty dreams to traders wants you to believe. Again, they are playing on your greed. If you don't believe this just ask yourself, do you know some one who actually has the secret sauce and is willing to share it with you? I'm sure the answer is no. If anything is the secret sauce, this is what I believe it is.

If you want to be a successful trader first get rid of your ego and approach leaning to trade with an open mind. Get rid of all your biases and come to the conclusion that you don't know what you are doing.

Tuesday, May 3, 2011

Learning to trade for FREE

Trying to learn for free? How many times in your life have you received something for free that had a real value? Free is usually worth what you paid for it, NOTHING! I have worked many Trading Expos around the county and always observed the same dynamic. Mindless sheep walking around aimlessly from booth to booth trying to find the company that will provide the secret sauce at no cost. When they don't get what they are looking for, they take a trinket from the table, put it in there bag of free goodies and go on to the next booth. They carefully map out all the free speeches they want to listen to and sit there intensely at every one they attend. When the presentation is over they get up and go to the next one, completely forgetting what was talked about at the last one. By the way, they still did not get the secret sauce. After years of working these type of events(mostly in New York City) I have come to one conclusion. The only people making money at these expos are the show management! Again, stop fooling yourself, no successful trader is going to give you what you need to be successful at trading for free. Why would they?