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Friday, January 23, 2009

Become rich from stock trading!

It seems 2009 is the year of vendors telling everyone how easy it is to get rich from the stock market!

> TradingMarkets is trying to sell me an $8,000 daytrading course (only three left!)
> Michael Parness comes on my television every other commercial break telling me how he turned $4 into $9 billion (what a poorly produced commercial, by the way)
> Wizetrade is putting the marketing machine into overdrive (my favorite quote from Wizetrade - "if more people are buying a stock, it's going to go up; if more people are selling a stock than buying, it's going to go down")

The market has decimated investors and traders, so I am sure that these vendors are trying to take advantage of it by giving people hope they can get their money back...of course, they need to spend another thousand or two first!

There is no real point to this post - I just find it interesting. Have you noticed anything?

what is trader-x doing in January?



Tom said...

You are spot on. Everyone lost a ton, so here come the scammers to prey on them.

Cramer and RealMoney are going crazy too, selling Lenny Dykstra options service claiming he is 81-0 but not accounting for open positions.


Anonymous said...

lol. thank you wisetrade for explaining why stocks move.


Brian K. said...

Just saw the Parness commercial again. It really does suck. What a tool.

Ted said...

I learned everything I needed to know from Trader-X, Trader Jamie, and Tradethemove.


Dinosaur Trader said...

Are you saying now is the time to roll out my Dinosaur Trader Premium service?

Someone needs to compete with "the Fly" and the PPT.


G-Man said...

I have to disagree on the TradingMarkets thing. I was actually one of the few that did well in last year using the Daily Battle Plan. It's a little misleading to say that it all doesn't work. Some systems actually do work. I haven't tried wisetrade or parness so I can't testify to that.

Zach said...


When can be expect some of your new setup posts? Eagerly waiting for them.


Trader-X said...


I didn't say that it didn't work. I was commenting on the absurdity of trying to sell an $8,000 daytrading course. I don't have an issue paying for something that works - I talk about TRADEthemove.com throughout the blog, and they charge $125 for their manual.

But I think there are alternatives to spending $8,000...using the resources listed on this blog and the bloggers that I frequently reference I think you can get an equal - if not better - education for a fraction of the price (free and a hundred bucks vs. $8,000).

As far as the other services TM offers - I don't use them and I don't have anything to say - positive or negative. I am sure they are of value to many, and that is fine.

As far as Parness and Wizetrade - their reputations precede them. Just do a Google search on either.

Thanks for reading!

Trader-X said...


I think at the beginning of February.


EldarBob said...

Do I see OEX finishing an "M" pattern?

Bill G. said...

I may be in the minority, but I enjoy you posting charts without a lot of analysis. It forces me to do some work to try and see what you are seeing, and I have learned a few things over the past few weeks.

When you spell it out, most people won't get it. When you make them figure it out themselves, most will.


Tony said...

I just got another email from tradingmarkets. I guess they still have some $7,500 slots available!

Roger B. said...

Parness must be reading your blog. He has a new commercial on CNBC this week. I would like to say it is better than the last, but no.