This doozy landed in my inbox yesterday morning…
A so-called guru talking up a magical trading system that allows you to profit…
“without spending hours in front of the computer every day”
Their words, not mine
But because I hate myself, and this is kind of my job… I decided to take a closer look at the specifics.
“The [name redacted] Trade attempts to profit from price changes in a stock or ETF during the first hour and fifteen minutes the stock market is open. This is from 9:30 am until 10:45 am, EST. There is a recurring history of predictable price movements in both indexes and stocks during this time. And we're going to show you how to profit from them.”
Ok, so we’re day trading price movements when the market opens…
Which just so happens to be the most chaotic time in the market…
So straight away… I DO have to spend hours in front of the computer every day
And that has to be the same time every day, Monday-Friday.
In a high stress, fast moving environment where every second counts…
This is starting to sound much less like a fun retirement income stream and more like a job that I can’t leave.
All of this before I have to learn a dozen different chart patterns and watch those like a hawk for 10 hours every week.
Not exactly my idea of a fun side income.
The way I trade on the other hand? No need to be glued to my brokerage accounts at 9:30AM every day.
I can take days off if I want.
And I can trade from anywhere in the world.
Doing so in a low stress, calm, repeatable manner.
I’m walking through the whole thing on Thursday’s webinar.
Oliver