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1. Date: 2008-10-04 06:46:22
Subject: Re: Safety in the Market !!
From: Chapel <C...@n...phorums.com.au> Search message by this author


Just having a quick scan of the posts, and I have a couple of comments
of my own, as follows:

SITM
All the negative talk is justified. A few years ago I would have liked
to have read these posts.....because I was a sucker who has done the
courses! The people who I met whilst on the courses are pretty much in
denial and tend to rationalise a lot.....meaning that they're not making
money. The only way out is to not be so precious about our stuff ups
and move on.....it's only money. As for me now, I am making money, but
not following SITM trading philosophies, nor buying anything from them.


Basically I have come to realise that if you really want to trade -
educate yourself, and don't expect anything to be handed to you by
anyone else. Do not pay even $1 for someone else's course!

BOOKS
If I were to recommend a couple of books, they would be:
1. The Investors Quotient, by Jake Bernstein (Psychology processes re
trading/money)
2. Master the Markets, by Tom Williams (Price and Volume
relationship)

FINANCIAL ADVISERS
As with purveyors of trading courses, be cautious of purveyors of
financial advice/wisdom/products. Financial Advisers won't tell you
that they earn a commission on any product they recommend, for every
year that product is "open", not just at the start.....sounds just like
insurance if you ask me. Therefore isn't it in the financial interest
of an adviser to warn people away from trading for themselves and
encourage them into their commissionable products? Again, let's not be
so precious about all this - at the end of the day it is each
individuals responsibility to take responsibility! Not someone else's,
be they an adviser or a course scammer.

(note I will be copying this to the other related SITM thread)


--
Chapel
** Posted from http://www.teranews.com **

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