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EZ Color Trading - Article - wgreenie


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EZ Color Trading - Article - wgreenie

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  #1 (permalink)
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Just thought I would update all the futures.io (formerly BMT) folk on Beth a.k.a. "wgreenie" and her progress.

From a local newspaper....

TheRecord - Day-trading business wasn?t EZ to set up

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Jungian

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Interesting. There is no mention of Big Mike Trading and this forum in the article. I attended an EZ color trading ad webinar from an email ad from ninjatrader back in July soon after I started trying NT and joined futures.io (formerly BMT). I didn't know it was the same lady until now. She did have a nice presentation, pleasant demeanor, and gave a lot of the usual advice like "stick to one system" and other stuff I noticed from advice from several members on the "millions" thread.

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Cloudy View Post
Interesting. There is no mention of Big Mike Trading and this forum in the article

Well the journalist obviously didn't do any kind of research... but wgreenie said she is one of the only women members of a community with over 6000 traders. I assume she means futures.io (formerly BMT), which is actually 20k traders now but maybe was 6k when she joined.

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My bad, I missed that last sentence or it just didn't register. I was having certain .. reactions while reading through it with sentences like "Most of her subscribers are veteran traders, with at least five years experience in the markets." Nice to hear about the 20k roster.

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Cloudy View Post
I was having certain .. reactions while reading through it with sentences like...

Yes, I was scratching my head:

"Her service is ideally suited to retirees looking for a part-time income", followed by "Most of her subscribers are veteran traders, with at least five years experience in the markets". Hmm, isn't that a contradiction?

I cringe a bit thinking of any retired person getting into the markets and trading their own account using "red to green" and "buy here, sell here" type indicator systems. It actually turns my stomach, because most of them will lose some of their hard earned retirement funds and they have no clue that they shouldn't just take what is posted on a website at face value, especially when it seems to be coming from a well-intentioned person. I cringe too when some traders say they are trading to pay for their kids college education. Most will do more harm than good....

So what upsets me is just how the whole industry pitches these systems as this "easy" system to follow, just for a few extra dollars on the side or part-time... not singling out Beth but she is right there with the rest of them... where is all the huge text that says "No system will make you profitable", and "You can't take every signal", and "You can't expect to follow this and make money". That is what the website should say, if you are truly trying to sell it to people as a "filter" -- people that are "veteran traders" that know how to use it as an alert and nothing more. But no, the website doesn't say anything like that.

There are some (few) vendors out there who do post such disclaimers. But most of them don't, because they can make so much more money glossing over those facts.

"The EZ system is designed to make your life easier.

All green/aqua Go Long
All red/magenta Go Short

Upon entry, the system will accompany you until you close your trade. It will provide the guidance to stay in or alert you with warning(s) for an early exit."

This type of wording just gets to me. That is part of why I stopped accepting custom programming jobs. I couldn't get through to people that there is no such thing as an easy fix or a way to just generate income "on the side", while they sleep or while they are away. It's a pipe dream. People create systems to follow them. And they buy systems to follow them. The systems lose money. The people lose money.

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Good post Mike.

It's not so much the cost of the courses/flashing lights that hurts people. It's the fact that they put money into these 'systems' that have no hope of working.

It is quite sad.

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Here guys...trade this. It works every time...

2011-10-18_1257 - MikeWinfrey's library

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MWinfrey View Post
Here guys...trade this. It works every time...

2011-10-18_1257 - MikeWinfrey's library

Nice chart!

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