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Plus, adding to John's good comments, keep in mind that if this
"secret" really did work that well, it would probably fail if everyone
knew about it and was buying/selling these options using the same
rules. (The way to get ahead in these games is to have a method that
says "buy" or "sell" *before* other people come to the same conclusion.
If everyone uses the same rules, everyone gets the same signals and
thus the opportunity to "profit by beating the rush" is lost.) Therefore,
if it is a great secret and the author is using it, you have to ask
yourself why would the author destroy what is working for him? And,
of course, if the author isn't using it to become rich, why not?
None of the potential answers to either question would convince me to
buy the book.
-craig
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| You guys have a right to be cynical, but I don't think this is such
a case. From some of my more objective industry sources I hear that
the Ken Roberts course is pretty much honest. I don't KNOW what the
course entails, but apparently it's a matter of doing your homework
and placing orders every day. Sounds simple. It isn't.
Hume & associates sell a series of flashy overpriced but effective
trades that have historically done well; these have been discussed
in the old INVESTING file.
Frank Taucher's "Supertrader's Almanac" has for many years now averaged
$1000/week doing purely seasonal trades. Highly reliable, yet I don't
trade it.
There's no shortage of actual working systems for sale. The problems
are that people almost never follow the system, or overtrade, or get
discouraged after a few losses. Sometimes systems need intraday data
or otherwise need closer following than users are willing to supply.
Sometimes systems need attention at night. There are lots of reasons
why the world isn't full of millionaires, even though the systems
continue to work well on paper.
It's hard to believe, but I have seen first hand how systems work but
people fail to follow them. Believe me, this is well known in the trade.
As I recall, Ken Roberts offers a 6-month money back guarantee. If you
show him your 6 months of charts and orders, and aren't profitable, you
get your money back. Of course he knows the people who won't make money
are the people who won't follow his advice, so won't have the records
to prove they failed, thus in a sense he's not really risking anything.
But isn't that a fair offer?
Now why isn't the guy trading his own system instead of selling it?
For one thing, he may be trading a different and stronger system.
Or he may have made enough money to retire and would rather teach than
make money he doesn't need. Some people prefer that route; ultimately
successful speculation is hard work and if you don't really need the
money, well, why not do something more enjoyable?
John
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| Guys,
Thanks for your advice and words of caution. I have decided to
purchase Ken Robert's course and see what it's all about. I had an
unexpected "bonus" of �250 from another investment recently so that
will fund this course. I regard this cost as a 'toy' that perhaps other
people would spend on their hobbies or whatever. When I make my first
million I will post the details here...
Oh well, easy come - easy go !
Cheers, Ian
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