I do not follow the brouhaha among stock market traders in FB . I unfollowed/unfriended the noisy and those who do not contribute anything substantial to my life. I just get stories here and there from friends but I guess this comment by Forex Gump sums it all up.
I do not like that he is a troll but he makes a lot of sense. In fact, I think that he is a veteran trader since he knows exactly what trading is all about.
Some are selling a dream using their portfolios (fake or not) with huge % gains. People like to believe the dream because it gives them something to strive for, or a sense of hope for their future .
I bet many of you are very good at technical analysis. But honestly, sino sa inyo ang kumita na ng consistently, pambayad ng monthly expenses , including tuition, groceries, etc. in the first few years of their stock market trading? It takes a lot of years and a lot of tears. I always tell you that. All depends on the time and effort you are willing to give.
Personally, nalulugi pa rin ako. Kaya mahalaga ang risk management. Sinong matinong mentor ang magpopost ng portfolio na 100% all in sa isang stock? That is poor position sizing and risk management.
Many so called mentors have day jobs, are single , or still living with parents and have no kids…nothing much to lose if they fail to achieve their trading quotas. These OFWs they are targeting are typically breadwinners with many mouths to feed. When you screw them , you are screwing the family that relies on them.
Admittedly, I give workshops, but they are very cheap. It pays for my time and effort, but is not even half or a fourth or an eighth of what popular mentors charge. Why? It’s because I will promise nothing to you and do nothing for you but teach you my successful trading strategies . You will do everything for yourself. I will not pretend to be a trading god because no one is.
Some groups start with good intentions but money gets in the way. Remember years ago nung lahat ng so called “concerned” groups were criticizing TAP for making bad stock recos? These same “concerned” groups are now taking advantage of newbies and aspiring market traders. They are worse than what they used to abhor . At least , TAP never pretended to be noble.
I learned from Google. I learned from books, from sharing ideas with other traders. I learned from losing. I learned from other quiet mentors, veterans who had been trading the market for decades, either through chats or their subscriptions: Spyfrat, Mr. Mangun, Mr. Bearbull Ron Nathan (now deceased) , Mike Nacua (Desert Storm, also deceased), Bordz of SMP, Ollie from SMP. None of these veteran traders ever charged me an arm and a leg. Some taught me for free. None of them promised me the dream.
I started as a full time mom who just gave birth to her 4th child, finding no means of working while taking care of my 4 kids then. I lost a lot. I learned a lot.I am still learning. But nothing is permanent. Nothing that has worth is gained in the blink of an eye. It takes hard work- brutal hours and effort. Most of all, it takes pride in where you came from and how you get to where you are. No single overpriced seminar can top that.