Comment on Mr Consistent returning incredible returns

Madan commented on 25 Dec 2013, 01:04 PM

Ashish,

Honestly speaking, i was expecting this question from someone much earlier 🙂

1. I don’t believe in advisory services as you are not gonna learn anything from the person giving calls – you are just following his calls without knowing what’s going on behind it. How much ever i convince you that you will learn something out of it, its a lie. You will never learn anything from following a person’s call.

2. So, if you are gonna be in this profession for the long haul, please do yourself a favor. Stop following somebody’s call, rather put the work in. To sustain long term – Get ready to lose some money, be ready to spend atleast 3 years of learning and have a understanding spouse(if you are married).

But if you are into this igame for the short term (just to make some quick bucks), please follow someone’s call but you are committing a big mistake(in my opinion)

3. I just feel its not ethical to make people follow me for two reasons:

a) i know my system drawdown and my psychology is attuned with it. But, most of the times, the subscribers quit when there is a series of losing trades. They just don’t know that ‘streaks’ (both winning and losing) are part of this game and they cannot withstand drawdowns.

b) Most of the times, if not all, the subscribers quit the subscription at the wrong time(usually after a losing streak). There is no way to avoid this. I cannot sleep well when i know that people following me(atleast 95%) would lose money because they will quit in the middle. And the worst part is if i am an experienced trader, i know this fact even before starting the subscription services.

4. If my system/idea is so good, why would i want to make the few extra thousands(or lacs) per month by giving a subscription service? All i need to do is relentlessly execute my setup and i will make money (maybe a delay of couple of years depending on my acct size)

5. Subscription service will negatively affect my psychology. I would feel pressurized to keep on winning and the regular crowd will never understand that losing streak are normal(sometimes 10 in a row) and they will keep questioning me whenever there is a losing streak. This will erode my emotional wealth and i am not really dumb to pledge my emotional wealth for few thousands/ month. I might come out strong here but if somebody who is looking to follow people get my message, my post is worth it.

Please understand that i am not hitting on subscription services. All i am saying is that i cannot do it for the above mentioned reasons. If other people are doing it, thats their choice.

Hope it helps.

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