Karin Bertschi and her Team are earning huge amounts in the adult sex industry together with international investors. xratx.net or www.xrate-scenes.com/dvds and a new XrateToy shop are generating
1.0%-2.8% daily for 14-28 days!
I was interested in seeing the kind of reaction I'd get in a community like, this, wow!
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But since you say that what they sell is sort of BullSh*t Then What are you selling?
I'm selling you a summary of what you'd get from a financial econ textbook. But less technical and more entertaining.
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When you sell don't you 'pocket' other people's money?
There is nothing wrong with making money.
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At the end you don't care what is going to happen to us, what all you want is simply our money.
That's not true. I do care. Did you know that even Mother Teresa was a rather shrewd business woman? People have this weird idea of confusing goodness with altruism. A doctor can care about his patients and still make money.
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and that for a sum you will remove stupidity from our minds.
The education process could be viewed that way I suppose. I wouldn't put it that way though.
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You couldn't trade the markets successfuly so you 'invented' selling stuffs about trading to get from us what you are unable..
I'm merely giving you the perspective from economics. If you think only high energy recruiters are worth paying money for an education, that's your decision.
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and tell us for FREE why we should not go Forex?
If those high school teachers and college professors know so much about what they teach, why don't they do it for free?
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he NEEDS those $3.99 because he failed in everything.
Of course. I mean, no one would ever try an online business for fun unless they were an abject failure in each and every venue life has to offer.
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He is a failed economics graduate (was he really an economics student at all?) who is angry because he doesn't know how to use his knowledge to EARN a living trading. If he was a serious economics student he should know that FOREX IS NOT A ZERO-SUM GAME.
To put it I_con's words, I'll try to "make you less stupid" on these points -- and I'll even do it for free! 1) Economists don't trade forex, or commodities or stocks. It's an axiom of econ that skillful trading profits don't exist. 2) Forex is zero-sum.
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Because you trade not against ONE trader and not against many traders who trade AT THE SAME TIME.
Yes, you pay one market price. That price is set by those who have the big dollars, mainly the banks. Banks don't hire weekend warriors. If exchange rates were out of whack, they'd have already been corrected by the buying and selling activity of the big dogs.
its not neccesarily true that you have a hotshot on the other side of the trade from a bank.
I tried to clear that up in the above post. of course it could be anyone, but it's instructive to think of it this way because with all the big dogs trading, if those rates are mispriced then it implies you know more than they do since you were the one who successfully arbitraged while they missed out.
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A lot of FX activity is in the form of hedging for locking in costs for importing and exporting.
According to the trading websites I've perused, that would only be around 5% of the market. 95% is speculation. As I explain in my ebook, that 95% is by far the most important aspect of the forex market. Yet I'm telling people not to participate!
Last edited by skeptical100 : 11-19-2005 at 08:04 PM.
Reason: correction
I have FX Trainer course and it's no scam, I'm very happy with it. I'm learning alot and it's very thorogh. They also have a trading robot that trades very successfully. Expensive but good if you have a pretty hefty budget. Betting2win is the real Mccoy and a good guy and makes big money trading from the conversations I've had with him. FX Trainer is excellent. Seven
I_con_you. It isn't a system since it has no specific entry signal. The exit is designed to keep away from the noise but pull me out when the direction changes. The MM is designed to reduce size when volatlilty is high and be more agressive when it is not but keep the maxium bet size to a defined limit. There is also a defined limit on the maximum margin that can be used. Nothing earth shattering about this its a standard MM routine.
The holy grail is over rated. We have met before in passing, eyed each other up and moved on. There was a catch as always. The 100% winners came at a price.
So here's the clue. If I get the direction correct 100% of the time lets say on 50 trades what could deter me from trading this gauranteed method to profits?
Skeptical - Successful trading doesn't revolve around random walk. If it did we would all pack up and go home. The zero-sum argument defines boundaries around the problem attempting to lock you into a one sided reality. Wilst it is true the game may well be zero sum it doesn't look at the whole picture. Fat tails in the distribution of prices indicate that trends continue far further than they should. Much of financial theory attempts to 'simplify' things. Black Scholes is a classic example of this attempt to simplify the price of an option. But we know that volatility is not constant. Banks, particularily central banks have multiple agendas none of which is to make money by currency trading but yet they can certainly influence it. Changes in macro ecenomic conditions and future expectations of those conditions can give rise to opportunities. Arbitrage is merely one and the one often adopted by banks becuase it offers near riskless opportunities. Banks have low execution costs and demand low volatility in returns. Investors however can easily climb aboard a trend. The price for doing this is increased risk and volatility in the account but the potential for outsized returns. It does happen, not to everyone but it does happen. The lure of this possibility is the attraction.
Also you make no basis in your assumptions for utility. People have many and varied reasons for coming into the market and quite often its not to make money. It can be bragging rights, sympathy, boredom any number of reasons that particapants can gain utility from trading. To assume trading is all about making money is a wrong assumption. Most of my clients just want to be right and brag, its about ego, thats the utility for them. I don't preach and they don't have big accounts for them its entertainment in exactly the same way that a casino is just entertainment and a release from daily life.
So while you document may not be wrong, it will never stop people trading because the reasons why people trade are not the same reasons you want them not to.
In your travels throughout the web, did you ever read the RBA's report on currency speculators and profit? If you did, then you know those speculators they gathered statistics of, made money after transaction costs. Have you ever talked with someone earning a living at this to get the other side?
I've worked for "Big Dog" American companies- they can be beaten to a pulp hence the explosion of small business in this country. Not to mention smaller speculators will be more agile and passionate about what they do, and not put in box on what they can do.
Maybe you have good intentions, I'll give you the benefit of that doubt. But your asking people to spend money for really little. I'd rather pay to find out why the Soros or Henry's of the world make money in FX, than why I should not trade. I am reminded of what one trader said in market wizards about academics who said he could'nt be doing what he does. "Thats why they teach and I do what I do" he said.
And your wrong on several points- 95 of "retail FX" is speculation. There isn't some 1.425 trillion turn over daily by speculators. There are also many economists that trade all sorts of stuff, you can google and find many. When you write your next book maybe you could make a little more factual.
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To put it I_con's words, I'll try to "make you less stupid" on these points -- and I'll even do it for free! 1) Economists don't trade forex, or commodities or stocks. It's an axiom of econ that skillful trading profits don't exist. 2) Forex is zero-sum.
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Econ guys don't trade because they don't know how to trade!
Take a look at the speeches of ALL 'famous' econ guys:
Bla, bla, bla,.... on one hand, bla, bla, bla,... on the other hand, bla, bla,...
Econ guys are always skeptical to 100%
Econ guys don't trade because they (YOU !) are too much in love with esoteric and unfinished math equations trying to cover up their ignorance about real economic issues. Proof? Look at how many 'prized' economists we have and look where the world is today.
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Originally Posted by skeptical100
...Did you know that even Mother Teresa was a rather shrewd business woman?...
On the other hand, did you know that because she was not an economist and because she did not know economic theories she went ahead and traded directly with the best broker there was for her, her god? She was not a business woman, she was an exceptional trader.
Why are you in a Trading-Forex Forum since you say "It's an axiom of econ that skillful trading profits don't exist" ? Oh sure, you are here to make a few bucks selling skillfully your snake.
You know, I think I have finally figured it out, the reason I and hundreds like me that have taken the courses provided by FX Trainer are making money trading on the FOREX market is that we don’t know enough about economics to know that we’re not supposed to be able to do so. Gosh, without the posts on this string I would probably be blissfully ignorant of that fact and would be earning my living from home . . . oh wait, that’s right, I am earning my living from home . . . on the FOREX market, solely because I follow the trading methods that I learned via FX Trainer.
As far as whether or not anyone would try a online business unless they were an abject failure in each and every venue life has to offer, let me respond:
When my Father in Law developed Alzheimer's my wife and I had 3 basic choices, either 1) put him in a home, 2) one of us quit our jobs, or 3) one of us find a way to work from home. FX Trainer made choice number 3 (the best choice) possible, and I had plenty of nay sayers who tried to tell me that it was a fool's errand to do so, again, I'm glad I didn't listen to any of them. Best of all, on the good days when he remembers his grandchildren's names, they have more fun together than I ever thought possible, and I am still able to provide for MY CHILDREN'S future. Who know, maybe they'll elect to do the same for me, should I ever develop Alzheimer's.
Re: Help! Is this a Forex scam?
I mean, no one would ever try an online business for fun unless they were an abject failure in each and every venue life has to offer.
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