When I created my ETF Trend Trading system
I expected to meet people who had a few
dollars put away in their IRAs and 401ks who
were old enough and smart enough to realize
there was another way to grow their net worth
besides saving and passive investing. I
expected I’d meet some who had been ripped-off
by a broker or felt the whole fee based Mutual
Fund and commissioned advisor system was a
racket.
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Side note: Next week Wednesday the 8th at 9pm EST
I’m re-opening my
mentorship program and holding
my f.r.e.e training webinar that you won’t want
to miss. More details on that will be emailed
later.
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What I didn’t expect was the emails and phone
calls from desperate, broke people who found
my free stuff online and want me to rescue them.
I mean gut retching stories of folks who either
made bad decisions and are back to less than zero
or who bought into some investing and trading hype
and lost everything they spent years building.
And it’s not just the money.
Fights about money (not having enough of it) are
the number one reason marriages break-up. Broke
desperate people whose homes are being foreclosed
on and whose cars are being repossessed can’t
focus on anything else and get fired or laid off
when jobs are tight.
So, I really wasn’t prepared to deal with these
people. Now, I’m no therapist but I do know about
the psychology of trading, risk and money. But
what did I know, what could I say, what could I do
that would really help people like this?
One response would be to just ignore them. Delete
those emails, block their calls.
But their stories stuck in my head and I wondered,
what would I do if someone near and dear to me was
in this situation and reached out to someone like
me. Could I help them?
So I decided to sort them into categories and
approach it systematically.
First we had the sob stories – people who just
wanted to dump their junk somewhere. These I gave a
polite but short response suggesting they get some
help from their family and friends (I would have
suggested a professional therapist but I don’t want
to be accused of diagnosing mental health problems,
it’s outside my credentialed expertise).
Next I had those who had a legitimate reason to be
mad – they’d been lied to and ripped off. But they
seemed to want to blame someone else and have someone
listen and validate their victimhood.
To these folks I wrote a polite but firm note
explaining that yes, I know there are quite a few
fake gurus in the trading education arena but I’m not
one of them and until they accept responsibility for
their role in the problem they shouldn’t get back
into the trading game.
And then I had those who took responsibility for
their poor decisions and wanted my help learning how
to be a successful trader; they just didn’t have the
money required to get started (or re-enter) the
markets.
These were the tough ones. On one hand, I wondered
what would happen if I set them up, taught them how
to trade and even loaned them a stake to get started.
Would they succeed?
It’s been done before. In the mid 1980s
Richard Dennis,
a successful commodities trader, wanted to prove that
traders were made not born. He took a group of 23
novices, taught them his system for trading commodities
and set them up to trade it with his own funds.
He called them the Turtle Traders and, overall, they
made millions as traders over the course of the five
year program. Several of them went on to further trading
success, and you can find a number of books and websites
that document the experiment’s success.
Anyways, since the theory had already been proven, the
question for me was could I teach these people? I felt
I could but I also felt they needed to have some skin
in the game. If I just gave them the system, gave them
my time and even gave them the money to get started,
would they have the motivation to follow my system and
instructions?
Remember, I do all my work from my home office. I also
set-up an office that’s run by some of my successful
students, but I never go there and I certainly didn’t
want to set-up an office to oversee a group of novice
traders.
If I’m going to work that hard I might as well go back
to
managing money and making the really big bucks.
So, what did I decide to do? Well, as a result of this
experience, I created a payment plan and a risk-free
guarantee for my mentorship program.
I figure anyone who is really serious about turning
their financial situation around via trading will be
able to get access to a few hundred dollars and open
a free account at a brokerage to do some virtual
trading.
The guarantee says that anyone who can show me a record
of 30 days worth of real or virtual trading during the
first 90 days they have the program, who then decides
they want their money refunded gets it, no questions
asked.
That’s enough of a commitment to scare away the folks
who are just complaining and give people who are serious
students a chance to try it out my system and see if
they’ve got what it takes to make it as a trader. Not
everyone does and I want people to be able to find out
without risking thousands of dollars they may not have.
We all win when I teach people how to fish in the financial markets
(and feed themselves and their families
long term) instead of just giving out fish to a few
hungry people. Helps me sleep better at night and inspires
me to keep adding more valuable content to my customer’s
lives.
If you know anyone who fits into the third category, do
them a favor and send them this message. I want to help as
many people as possible recover from this financial
meltdown and still retire on time!
Helping you retire on time,
Big A
——————————————–
Side note: Next week Wednesday the 8th at 9pm EST
I’m re-opening my mentorship program and holding
my f.r.e.e training webinar that you won’t want
to miss.
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“Big A with ETF Trend Trading”