Ah yes it's "the best things in life are free", indeed they are.
Unfortunately the day trading business doesn't always bring out the best people in life. If you want to learn how to trade pretty much everything you need to know is free. The online resources are massive and there is no need to pay anyone for anything. Now books, well they cost money and for me I think most of them are worth it. Of course there's also this long forgotten thing called a library where you get to read the books for free. :)
Why do I bring this up you say?
I found another blog quoting my Why You Should Not be a Trader post. Unlike another guy that the Lonely Trader has been exposing this blog followed proper blogging etiquette and provided a link to my blog and gave me credit for the post. The problems start as their blog is a portal for several paid day trading services. That in itself doesn't bother me as it's a free country and they can do what they want. That said I'm not linking to them or saying the name as I don't want anyone going there.
The huge problem I have with them is they are using God as a, hmmm I don't even know what to call it. Let's just say that they give the appearance that their services are God approved. They are trading for Jesus so to speak, or taking your monthly fee for Jesus. This crosses a line so wide I have trouble defining it. Let me share a couple of verses with you that explain it rather well.
Don't just read these words, play out this scenario in your head, what it would have looked and sounded like.
Jesus entered the temple area and drove out all who were buying and selling there. He overturned the tables of the money changers and the benches of those selling doves. "It is written," he said to them, "'My house will be called a house of prayer,' but you are making it a 'den of robbers.'" Matthew 21: 12-13
I'm no biblical scholar but I don't think there are any other examples in the Bible where Jesus gets angry. I mean really angry, shouting, shoving, loud, wild anger.
So as you may have guessed this bothers me. The day trading business is a dirty one as there are desperate people and newbies who can get sucked into paying someone who has the appearance of success. There is simply no way you can know if anyone really is a successful trader. Including me, for all you know I am sim trading from prison.
So the message is never pay for any kind of advice in this business. Buy some books, take advantage of all the free online information and do the work required. There are no short cuts and that's what these guys are trying to sell you, a short cut.
I have spent 14 years studying the markets, investing, and trading. I have taken all the courses required to be a broker in Canada. I have read well over 100 books on the subject. I have done the work and the work is ongoing. After all that I'm still learning, I'm not "there" yet. Even with all that work in the bank you still are not a trader until you spend thousands of hours in front of the screens.
The point is it's a long hard journey and if you're not prepared to do the work then quit now.
Sorry for the long rant, but "they" got me going.