Monday, 24 October 2011

EXTRACT FROM ROBERT MINER'S BOOK HIGH PROBABILITY TRADING STRATEGIES.


YOU CAN'T BUY SUCCESS
Sometimes I'm almost ashamed to be associated with the business of educating traders
and developing trading software because the business is rife with outright scarnmers
making promises and insinuating you can quickly and easily learn to get dch fast trading.
You've seen the ads: Learn the "secrets" of Wall Street or the professional traders, and
make a killing. You've seen the chafts in ads with the little buy and sell arrows where
every trade is a big proflt; or the ads that claim hundreds ofpercent return if only you
follow their system or subscribe to their advisory report; or the trading software (usually
very expensive) that will supposedly give you the buy and sell signals for consistently
profltable results. If you subscribe to any trading publication or surf some of the trading
sites on the Web, I know vou've seen a lot of these outlandish promises. You've probabl"v
taken the bait on a few of them and spent a lot of money with little or no results. You're
not the only one. I've been a sucker myself, especially in the early years. I guess it's part of
the learning process we all go through when we're learning something new and actuall-v
think there are some secrets we can quickly learn to put us on the road to riches.
Beware of any promoter making unrealistic claims. It's just common sense, which
unfortunately our fear and greed drives out of our consciousness now and then. There
are a lot of good trading educators. Some have been around for years and have a lot
of experience trading and teaching traders. The legitimate trading educators never make
unrealistic claims. In fact, I don't believe I've ever seen an ad or promotion by a legitimate
trading educator that make a results-based claim. They know the best they can do is
teach you whatever they have become good at. How and if you apply the knowledge is
up to you.
The more knowledge and experience you gain, the quicker you will be able to discem
what should be legitimate and useful information as opposed to having your chain pulled,

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