This morning I got an email from a reader and he brought up a problematic catch-22 that maybe you’ve experienced too
Here’s what he said,
“…I have reached the point of catch-22 in my trading business, being unwilling to sacrifice funds for learning the business until I can pay for it out of profits. Meanwhile, I still have my eye on your Trading System Mastery course.”
and here’s how I replied to him,
“…, I know what you mean with the catch-22.
Here’s the other catch though: you need to learn what you need to learn – the choice is really who and what will be your teacher.
You can learn from trial and error and have the markets dole out the lessons, which are not without cost, or you can seek to learn from the experience and wisdom of others.
As to which has the lower risk, and ultimately the lower cost both in terms of money and time, one of the things that sets us apart from the animals is that we can learn from each other and the experiences of others, rather than having to learn everything on our own individually.
Yes, of course the risk is always there (generally speaking) that you’d be dealing with someone who will take your money, NOT deliver value, and then also keep your money, so you’d be out however much. That’s why it’s important to make sure that the person you’re dealing with has been around for a while, isn’t on every scam site listing, and has both client testimonials and the endorsement of other reputable providers in the industry.
I too buy products online, and I used to be much more naive than I am now. I’ve had some not-so-great experiences, but I’ve learned that so long as I do a bit of due diligence and attend to the rational concerns, the main thing I need to do is get past the not-so-rational fears I may have that prevent me from getting the help I need.
With trading, it didn’t take long for me to discover that while I may be fairly intelligent, I’m not smart enough to beat the markets all on my own. I’ve learned to seize the opportunity to learn from those that have more experience and or insight than I do, and so gain from their knowledge.
Most things I keep because I do get value from them, but sometimes not, and I’ve been very pleased with the integrity of the vendors with whom I’ve worked when it wasn’t a good fit. Have there been times when I wasn’t so happy? Sure, but I chalk those up to lessons learned and move on.
Life is too short to stay stuck or let the fear of repeating past mistakes keep me from moving forward.
Anyway, to your comment about getting the Trading System Mastery program and paying for it out of profits, how about this: to allow you to realize the improvement in your trading immediately without having to shell out $497 right now, but you still have a little ‘skin in the game’ to incentivize you to make sure you actually implement the program, I set up arrangements where it would be spread out over 6 months?
You get to seen the gains in your trading by getting the course in a cash flow friendly manner where it is paying for itself. Since it’s backed with a 60-day guarantee, you have plenty of time to utilize it, and if for any reason it just isn’t paying for itself, then just let me know and you’re not out anything.
What do you think?”
Let me know what your thoughts are on this matter 🙂
P.S. There’s still another catch-22 that gives traders almost endless grief, and I’ll tell you about that one in my next post, along with how to get beyond it
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