Top 2 Myths About People Who Market Trading Systems
The top myths about people who market trading systems is, “If the system was any good, the seller would make his/her money from trading NOT from selling the system.” Or my favorite “You make all your money from suckers who buy the system, not from trading”.
I feel sorry for people who say this or even think this. They miss out on opportunities that could change their lives. However, I understand where they are coming from. They just don’t know any better and since it is my job to educate the beginners amongst you, let’s start by debunking these top 2 myths about people who market trading systems. I can’t speak for everyone who markets a trading system, but I will speak as to why I do it.
Myth #1: You make all your money from suckers who buy the system, not from trading
This is really an illogical statement. The truth is, if people were not making money, they would not be paying subscriptions and the system would disappear for lack of customers. Any good system gives a person 30 days or more to check it out. If it’s not what they advertise, you cancel and lose nothing. No one is being taken advantage of. No one is forced to keep subscribing each month.
Myth #2: If the system were any good, the seller would make his/her money from trading NOT from selling the system
Why can’t I help others? I’ve already spent the hours researching and analyzing each day for my own trading, why can’t I share it with others? There are billions of dollars exchanging hands each day. I can’t grab it all. I want to help others get rich too. What’s wrong with that?
Top Myths About People Who Market Trading Systems
The fact is there are costs associated with giving info away for free. There is the cost of a website, hosting fees, programming of a subscriber’s area, time emailing, etc… I would have none of these costs if I were to keep the information to myself. Why should I pay for this cost of making you rich? This is what the subscriptions are really for. NOT to make anyone rich, but to pay it back to the person who helped you. That is only fair.
Lastly, if I was to give information away for free, do you know how much value people put on it? $0! These same people would then be screaming, “If it’s so good you wouldn’t give it away for free!”.
Trust me, I’ve given valuable advice away for free and every time the people I gave it to just laughed and dismissed it. There was the time on Yahoo when someone challenged all readers to pick 5 stocks that would average a 30% gain each in one month. I said I could give you 5 that would do it in ONE WEEK. They all laughed and dismissed it. However, I did it and out of hundreds of entries, I was the only one to do so.
Then there was the time on Morningstar Forum. Someone wanted to know the best ETF for trading. People were all giving these ETF’s that went up 7% a year. I showed them one that went up 1,900% in 7 years. They all said I was a liar. Even though anyone can go to a financial website and look up the returns under historical performance. But because the info was free, they couldn’t accept the truth. To this day, no one has been able to find a better performing ETF than what I shared.
Now if I had charged for this info, it would have been respected and acted upon and many people would have become rich. But because it was free, the only one getting rich that day was I.
Time is the most valuable thing we own. If you honestly feel that successful traders should spend hours of their time doing your stock research just so you can get rich and they get nothing, you are not living in reality. Come down to earth. If they make you rich, the least you can do is pay it back with a small monthly subscription fee. That’s all they ask. In return, they may make you a millionaire.