Why I Teach What I Teach
Today was a day of mixed feelings as I received two very different emails from two very different individuals in two extremely different situations. The first email is from Nazarudin Jusoh who is from my 5th batch in Malaysia that graduated in July 2008. This mail, needless to say, lit up my day.
Dear Conrad,
After attending your tutorial and spending hundreds of hours practicing on my Fx demo account, I have now managed to make a consistent (real money) profit of 200-250 pips a day. Usually I will make a gain of 300 pips and loss of 50 pips. My strategy is to go for a profit target (Take Profit) of 50 pips with a Stop of 50 pips also.
Although my trading strategy has deviated almost totally from what’s taught in your tutorial, I feel I would not have been able to adapt to trade profitably today were it not for attending your tutorial in July 2008. The story of your journey in life has inspired me to make a change in my life too.
You have always advocated that education is important but if I had only one choice to make between my university degree and your tutorial, I would choose your tutorial anytime. I’ve never felt like I’ve ever acquired a life skill as much as I do now. It was tough for me to attend your tutorial as I am living hundreds of miles away from KL. I also had to take leave as the weekend time here is different from that in KL. A few months ago, I drove to KL to attend a gathering but on arriving in KL on Friday (the day the gathering was to be held), I was down with dengue and was stuck in hospital for 10 days.
I found out the hard way that it was tough, to be honest, because one week after attending your tutorial, I started trading with real money (against your teachings) and lost it … only after that did I start trading on a demo account (as you had repeatedly advised) to get the experience so vital in this business. I guess most people have to learn the hard way if they are to realize the true value of your teachings.
It was only recently that I started trading with real money after months of practice. I have never in my life put in so much effort like what I have done for trading… not even for my final year university exams or most important exams in school.
But of course I don’t feel like I’ve made it … because as you said in your latest book (Secret Psychology), the moment we feel like we’ve made it … we will usually be hit hard by a new lesson in humility.
Thank You… May God bless you!
Nazarudin Jusoh
Note: Naz had included his account statement in the original mail which I am keeping confidential for his sake.
It is always nice to get such mails from students who have progressed and what’s even sweeter is the frequency of these mails today as many of the past graduates are now moving into real money trading and realizing the value of a good year of practice sessions on paper trades.
On the flip side, there are those who realize too late, the value of a good education and quality guidance.
Immediately after getting Naz’s mail, A.L. sends me a sad and all too familiar tale … a pattern that is becoming increasingly obvious as the market turns on its head yet again. Many others before A.L. had come to me on the outset of the downturn between November 2007 and February 2008. More came knocking between September and November last year and most recently, a flood of people crammed my email-box between January and March this year. Most of their letters read like A.L.’s;
Dear Conrad,
I hope this email finds you well. I was at your Wealth Academy Trader preview seminar earlier but didn’t have a chance to catch you after the seminar. I never knew your compete background story till your sharing (although I have sketchy idea from your website), and I appreciate that, for which it does give some hope for me.
As I’m writing this email, my heart is pounding away, watching the market and I do fully agree with you that there’s no such thing as full time trader – you can die of heart attack if you trade every night. I have heard of your tutorial some time back but for some reason, maybe procrastination or just not into trading then, that I held back from attending your preview.
Having been in the market for the last 3 months or so, my losses have mounted with each trade and I am stuck with counters that I am “hoping” for upward movements (or maybe it’s procrastination as you said). The situation is such that I’m playing with future money, monies that I do not have and cannot afford to lose. The stress is building up, I’m questioning my judgment and behavior; has it gone dangerously reckless and am I assuming too much risk? I’m getting tired, it’s draining too much time and energy. And to be frank, fear has set in, I really do not know what I should do next.
Thoughts of suicide and bankruptcy did occur before. But I have unfulfilled duties that tell me I can’t go yet. The only thing that is likely to happen now and the only thing I can do is to prepare myself for the brokerage firm to come for me. Bankruptcy is not an option as it would mean I cannot run any business and to lose my travel freedom. Like someone once said to me, “When it rains, it pours”.
If only I had known about your program earlier, I guess situation would be different, very much different. At least the losses would have been lesser and manageable. Perhaps life is full of “if only”. Having said all these and sharing my thoughts with you, I guess you really do have a mission to educate the public in financial knowledge and I would really love to, when the chance arise, attend your tutorial. I’m sure there’s plenty to learn and supplement what the school textbooks have taught, and of course, to hear from you your life story (especially your bankruptcy period).
Lastly, I wish you all the best for your endeavors and your mission to educate more people.
Thank you.
A.L.
That is one mail out of many others that sing the same lamentful song.
So many other gurus before me have made my job a tough one. They have literally spoilt the market and given this business a bad name. Today, in spite of all my efforts to share and be honest with people, there are still many others who doubt what I do because of the precedences that have been set before my emergence. People who don’t know what I do and don’t even take the effort to at least hear me at my previews, are judging me and categorizing me in that infamous band of Trading Workshops. You only have to read what is written in public forums and listen to what most people have to say about such workshops to know that whatever I do, the prejudiced opinion of this business will always be a drag on my efforts to provide good quality education that is not all about trading and investing. In fact, the trading and investing part of what I teach only constitutes less than 30% of my tutorial.
Only those who have been burnt will appreciate the true value of what I do. Only those who have conceded their inadequecies will treasure what I have to offer. Only those who have admitted defeat will take what I do seriously without reservation.
I will continue on my little mission. Regardless of the nay-sayers and doubters, I will continue to provide this education to those who want it. And those who want it will have to earn it. Those who acknowledge that this is a tough business and requires a lot of work and dedication will desire it. Those who know that there are no free lunches will strive to excel in it.
Dreamers need not apply. There are plenty of other courses that can help you with your dream. Mine is not one of them.
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Comments
Conrad,
thank you for sharing the stories, so far, I have know 5 people that are bankrupt, 2 are still bankrupt and 2 are discharged bankrupt ( including you ), 1 of them is waiting to be discharge.
I would like you to convey to AL that these 5 people are “better” now. Of course, before the bankrupt, there are lots of emotion running in the mind when the creditors come knocking at the doors.
But remember, life is a game, there is still a game to be play before, during and after bankrupt.
One of them is still driving a car!
This is what I would do:
(1) negotiate a discount and offer a monthly repayment; and let the creditors know that they would not get much if they make me a bankrupt.
(2) during the negotiation, let the creditors know that you are prepare for the worst.
Hope these helps.
Wilson Ong
PS: As a bankrupt, you can still drive a car; you can still have a business…. do not let this “Bankrupt” label stop you.
Wilson is quite right. As a bankrupt, you still have a very normal life. You can still “own” and drive a car, a business, and property. Travel restrictions are never a problem because all you need is an on-line application to travel a week or two before the intended trip.
Of course, you have to be a “good bankrupt” in order to have these travel privileges by returning your I&E statements timely, paying your installments on time and by not taking on more debt. Meet those criteria and stick to it, and you can have a normal life.
I know u didn’t ask, but this morning (13-July-09 during the Asian session) I made 350 pips. 7 out of 7 my trade positions hit the profit targets (50 pips each). As I mentioned in the above mail, my risk to reward ratio is 1:1 (Profit Target=50 pips, Stop=50 pips).
Sorry, the comment form is closed at this time.
Hey Conrad,
Those gurus who are giving a bad name to this industry are not gurus after all. Call them something else. And this doesn’t not affect the person who got burnt but the people around them.
I was talking to good friend of mine just this evening, and we were talking about stock trading, as usual I shared that I attended your course. She was telling me that someone she knew got burnt and went bankrupt. She used to trade but stopped completely after hearing what happened to her friend. Well, it’s a chain effect when one person learn the wrong thing and spread the wrong information. Like you said, the bad things always spread faster than the good.
I’m glad I took up your course, it’s my first time and also my last. See you at the gatherings.
Terry
P.S. would it be better if you have your comments some where below the post. I was looking around when I notice it’s at the top. =)