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Thursday, November 27, 2008

We Do Not Need "Suckers" in the Market (VIDEO)

"There's a sucker born every minute" - P.T. Barnum

There's a fallacy that is common in the marketplace. Especially when it comes to educating others as to how to trade in the stock market, forex or commodity futures.

This fallacy is further exacerbated by the fact that many of the people "educating" others? Are simple scams. DoublingStocks is the first get rich quick scheme that comes to mind. When you attack anyone who supports these scams? Sometimes the argument is used:

"Well, we need the dumb suckers sitting down at the table? In order to provide liquidity"

Meaning, that those of us who understand what we are doing? We need people who have no concept of what is going on, in order to have more shares going on. That is a concept that I thoroughly, and completely disagree with. Obviously, this has to do with trading because investing is about wealth creation. There is no zero sum process with investing. With investing, you are looking to share with others in the profits that a company generates; commonly in the form of dividends.

But do we "need" suckers in the marketplace when it comes to trading? I discuss that in this vlog entry ...

I discuss that in this vlog entry ...

I also want to say that the version contained here on this blog? Is the longer Google Version. Google allows me to upload videos longer than 10 minutes. The version I had for YouTube had to be cut down, to make it adhere to their 10 minute, non-partner policy.

(Video Included. If you're seeing this from Email subscription? Click on the Title Link in the Email to View the Video ...)

Tomorrow is Friday. There is the BlogTV show, and on Saturday, the "Week in Review" ...

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Note: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 12 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.

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