Ross Cameron and Timothy Sykes Success....
I thought that I would write about this during the end of the credit cycle when people are desperate and looking for any help to clear their credit cards and get their finances in order. There are so many fly by night people on the internet offering all sorts of programs where you can learn to make lots of money just like them. You know the $1000.00 a day people or the $10,000 a month for only $997.00.
It is such a great deal because they are so selfless that they just want you to have all this for the best price possible. So why are there so many courses all worth around the same price?
Alright, let's start here. They are priced this way because that is what the market research has determined the top end that people are generally willing to pay to learn something new. Often times they cover all angles by offering payments per month if you can't ante up the whole thing which is a little more than the total cost.
The very first thing you should realize is the online world is governed the same as the offline world. There isn't much difference other than we can communicate all over the world. It still takes resources to do and effort to put in for you to have any inkling of success at all. However, you still need to keep in mind Pareto Principle practices.
What is the Pareto Principle you ask?
This is that in any industry (and I mean any) 90% of the business is done by 10% of the companies or people. It is that simple. You might think that it is easy to get into this bracket but they don't allow many people to beat them at their own game so just a note to the wise.
This brings me to the mastermind traders and their followers. You see traders like Tim Sykes and Ross Cameron and yes they are both good traders. I would not dispute this. However, they are one in ten million or more. Most traders will never be able to reach this plateau even if you buy their courses and even if you trade right alongside them. It just doesn't happen for most. If it did then everyone would have an easy way of getting rich wouldn't they. The other thing to keep in mind is they make a lot more marketing than they ever do online trading. Keep that in mind.
So you might wonder how they became successful?
There are very rare traders who are able to take trades in the open market where their emotions don't get the best of them when they use leverage. They are very rare individuals like the people who win in Poker all the time. They are usually the same guys or women. The hubris that we all have is thinking that we can all be like them.
The hard to swallow truth is, "we can't".
A scant few might be able to come close but these people are unique. They are gifted that way. I have to admit that even I cannot do what these people can do and I know it. I would never try because I cannot handle using insane leverage like they do. It is simply not my trading style. The problem when you get nervous is you begin to think irrationally because your brain gets fogged. This is the problem for most normal people. These people might get a little nervous too but they don't lose control like most of us do. They don't make the same mental errors under pressure that most traders make.
Why?
Simply psychology. They have what most people don't and it is that simple. Like a great athlete, they are great because of what they can do that separates them from the crowd. It is a special talent that you probably cannot teach. So keep that in mind when you think that it is easy to make $500.00 a day trading. Cheers!
It is such a great deal because they are so selfless that they just want you to have all this for the best price possible. So why are there so many courses all worth around the same price?
Alright, let's start here. They are priced this way because that is what the market research has determined the top end that people are generally willing to pay to learn something new. Often times they cover all angles by offering payments per month if you can't ante up the whole thing which is a little more than the total cost.
The very first thing you should realize is the online world is governed the same as the offline world. There isn't much difference other than we can communicate all over the world. It still takes resources to do and effort to put in for you to have any inkling of success at all. However, you still need to keep in mind Pareto Principle practices.
What is the Pareto Principle you ask?
This is that in any industry (and I mean any) 90% of the business is done by 10% of the companies or people. It is that simple. You might think that it is easy to get into this bracket but they don't allow many people to beat them at their own game so just a note to the wise.
This brings me to the mastermind traders and their followers. You see traders like Tim Sykes and Ross Cameron and yes they are both good traders. I would not dispute this. However, they are one in ten million or more. Most traders will never be able to reach this plateau even if you buy their courses and even if you trade right alongside them. It just doesn't happen for most. If it did then everyone would have an easy way of getting rich wouldn't they. The other thing to keep in mind is they make a lot more marketing than they ever do online trading. Keep that in mind.
So you might wonder how they became successful?
There are very rare traders who are able to take trades in the open market where their emotions don't get the best of them when they use leverage. They are very rare individuals like the people who win in Poker all the time. They are usually the same guys or women. The hubris that we all have is thinking that we can all be like them.
The hard to swallow truth is, "we can't".
A scant few might be able to come close but these people are unique. They are gifted that way. I have to admit that even I cannot do what these people can do and I know it. I would never try because I cannot handle using insane leverage like they do. It is simply not my trading style. The problem when you get nervous is you begin to think irrationally because your brain gets fogged. This is the problem for most normal people. These people might get a little nervous too but they don't lose control like most of us do. They don't make the same mental errors under pressure that most traders make.
Why?
Simply psychology. They have what most people don't and it is that simple. Like a great athlete, they are great because of what they can do that separates them from the crowd. It is a special talent that you probably cannot teach. So keep that in mind when you think that it is easy to make $500.00 a day trading. Cheers!
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