Since releasing my first book a number of years ago, I’ve said “no” to dozens of promotional opportunities from people selling all kinds of Forex trading products.
As a result, I’ve missed out on literally tens of thousands of dollars in commissions.
Why didn’t I jump on the “promotional” bandwagon like so many others are doing? Read on to find out.
Narrowly Escaping The Salesman Syndrome
In 2008, I released Candlesticks Made Easy on a bet with a close friend that it wouldn’t sell more than 5 copies.
As it turned out, the book was a huge success, considering no one knew who I was, and that it was my first time sharing my trading experience on the internet. People loved it, and the word spread quickly.
I later found out that there were a number of trading mentors who encouraged their students to get it. Sales of the book came in steadily, and it even caught the attention of copycats who tried to sell knock-off versions of it.
Soon, I was getting invitations to promote all kinds of trading products, from indicator-based trading systems to software that claimed to predict market price moves. In taking part in those promotions, I’d get a nice commission for every sale.
The path forward seemed pretty clear: if I wanted more money, all I had to do was promote every offer that came along.
I was invited to promote everything from $27 e-books to $4,997 trading courses, and yet 99.9% of the time, I’d say no.
Because upon testing those products, I found that the vast (and I mean VAST) majority of them were ineffective. They were clearly not created by someone who understands what trading is about.
If I went along with the promotions, I’d be supporting a whole industry of quack Forex products.
The money was tempting (I won’t lie), but I knew that if I chose to go down that path, there would be no turning back.
I had to choose between making (a lot) more money, and serving the tens of thousands of traders whom I’ve never met, nor will ever meet.
And so I chose
Instead of being a product promoter, I stood for the people who were new to the retail Forex industry. After all, I was once a newbie trader too.
I knew of many internet marketers who weren’t traders themselves and yet sold (ineffective) Forex products… and I didn’t want any part of it.
To be fair, I wasn’t having money problems so the choice wasn’t as hard as it could have been. If I had 3 kids to feed and wasn’t making money with my trading, who knows if I would have made the same decision.
The bottom line is that there are people out there who will say anything and sell anything to make a quick buck, even if it means harming you.
A few of them have even become so successful at it that they’ve achieved “Guru” status.
What it means to be a “Guru”
Right now in the world of internet marketing, there’s a craze around the concept of the “product launch”.
This typically means that you’ll get a series of emails from different people, all leading to the same product release.
It consists of a series of videos/reports where the product seller would share some “killer tips”, often followed by a product FAQ webinar session. This entire sequence will be spread over a few days.
Now don’t get me wrong – I don’t think there’s anything wrong with such a marketing approach… I don’t have a problem with it.
What I have a problem with, is that the people who promote these products have never tested them, nor do they intend to.
It’s all about “I scratch your back now, you scratch mine later”.
That’s why you keep seeing the same people promoting the same offers at the same time – they’re trading favors with each other.
The only party that stands to lose in this transaction, is the customer.
And this, to my knowledge, is bad for any business that’s interested in the long run.
It’s simple, really. If you promote or sell bad products, your customers will leave.
Unfortunately, most of the product sellers in this industry prefer to make a quick buck, shut down their website and emerge again later with a new name and new face.
They’re not building a brand, nor a business. They’re building a series of fly-by-night operations.
But really, who can blame them? It pays well, over and over again.
And because I’ve refused to take part in such practices, I’ve been left out of the “Guru” circle.
Am I Insane?
The not-so-glamourous truth is that I’m taking a gamble here.
I’m betting on the premise that by serving traders (instead of ripping them off), the Pip Mavens brand would be better off in the long run.
This goes against what most people are doing in this industry, but it’s what I believe in.
Take retail Forex brokers for example. They know that most retail traders blow up their accounts, so instead of focusing on providing real trading education, they focus on promoting intraday trading to score as much fees from you as they can, before you go bust.
It’s a short term mindset, but it makes them a lot of money in the meantime.
As long as new (ignorant) traders keep coming along, they’ll be making money.
I’m Betting On You
Do I sometimes wonder if it might be better to just give in and easily make more money? Sure.
But is that what I stand for?
You see.. I’m betting on you.
I’m betting that by providing you with a real, practical and sustainable trading education, you’ll stick with me in the long run.
I’m building a community of traders who are tired of the B.S. in this industry, and want to clean up the dirty streets of retail Forex trading, so to speak.
I’m not a saint, nor am I a hero. I’m just a normal guy who believes that when people truly believe in a cause, they can overcome the toughest obstacles and come out winning in the end.
It’s like learning to trade – the path to success is filled with false quick-fix solutions and empty promises of “easy money”.
And the people who make it in the end are those who stick to their guns when the going gets tough, and never quit.
It’s those who look for short cuts and easy fixes that cheat themselves out of building something of lasting value.
So thank you for being here, and trusting the Pip Mavens brand.
We’ve been around for over 8 years now, and we intend to stay for a long time.