Sunday, March 05, 2006

Too bad they don’t pay you back when they are wrong.

Signal Services,…………. They flourish with a majority of traders for many reasons but two stand out, imo;

1) Most traders will not take the time to study and learn their craft. The forex markets are the worst, with the low initial deposits and over leverage. The golden apple of instant wealth, get rich quick mentality, permeates thru this industry. People are drawn in with the schemes and then are misled by simple indicator based strategies, when all the arrows point down in the same direction, sell!! #%&@*!………….

There aint no system that will work in every different situation the markets will throw at you, if you take every MA or Stochastic cross, ect. you’ll be in that Commodore Hotel Bar singing them lonely broke blues with all the other Boys.

2) Most traders will not take responsibility for their own trades, at least if they follow a signal service or trade rec. - when their broker makes a margin call, they can blame it on some one else. Well everyone else lost today, I don’t fell so bad. Boy the markets are brutal today, They hunted my stops. The list goes on forever…… Hello!!!! If your having a bad day some else is having the new pool installed.

I’ll crawl down off my soap box…..

Study, learn your profession better than 98% of all the other traders, it’s a tough job - very few will really succeed…………..wonder how many subscriptions I can sell with that??

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