Forex Products: Why I Said “No” To More Money

Since releasing my first e-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 e-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.

Why?

Because upon testing those products, I found that the vast (and I mean VAST) majority of them were ineffective.

If I went along with the promotions, I’d be supporting a whole industry of quack Forex products. I might as well have had been promoting sugar pills packaged as Viagra.

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?

Nope, never.

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.

By |2018-11-29T06:09:37+00:00November 29th, 2018|General|32 Comments

32 Comments

  1. Steve February 2, 2013 at 6:40 am - Reply

    Well said Chris.
    I believe like attracts like. In the process of sticking to your convictions you are creating a community of like minded traders & friendships. That is something money cannot buy.
    Keep on doing what you are doing.

  2. Ishak February 2, 2013 at 6:49 am - Reply

    thank you for the honest revelation.

  3. Gordon February 2, 2013 at 7:02 am - Reply

    I been reading your e-mails for about 2 yrs.and have enjoyed all your writings. I commend you for sticking to your guns and providing real content for newbie traders.
    I trade pen stocks an sm.cap stocks with limited success.even though I attend a chat room.
    Whenever I switch to forex you will be my first teacher.
    Thanks for all you do,an I enjoy seeing all your travels.
    Maybe we will meet up sometime in the future just to say Hi!We love to travel as well just not as extensive as yourself.
    Anyway-Take Care
    Gordon
    care

    • Chris Lee February 2, 2013 at 7:45 am - Reply

      Hi Gordon,

      Thank you for the vote of confidence.

      Yes, once I got bitten by the travel bug, there was no turning back for me. (haha)

  4. Bela, Kovacs February 2, 2013 at 7:49 am - Reply

    Dear Chris,
    I appreciate yours principle and your rectitude about forex trading.
    Please let me to be Yours friend from Romania. It will a big honor for me.

  5. Mike Foley February 2, 2013 at 8:25 am - Reply

    Your post, and on such a hot-button topic,
    was a valid look into your character, Chris.

    The Road-Less-Traveled …

    1) is populated with fewer fellow travelers,
    2) and maybe, probably, for a time, less money.

    But that road is indeed the path to the goal
    we all seek.

    My admiration to your courageous decision,
    I have zero doubt it will pay off,

    Although not intended for the material,
    it will include the material.

    The Universe abhors un-balance,

    In it’s proper time, the Universe acknowledges
    the righteous deed.

    Many lives will be touched during,
    and as a result of, such a “pay off”.

    Mike Foley

  6. Neil February 2, 2013 at 8:38 am - Reply

    Keep up the good work Chris.I have been overwhelmed with offers to make me rich
    with minimum effort but I always come back to you Icarus program.
    I still read your original articles.
    Thank you
    Neil W

  7. Shina February 2, 2013 at 8:52 am - Reply

    Welldone Chris. Thanks for standing out. It might not pay in the hort time but you can be sure it will yield high and better result in the long run. Your free post in your blog worth much more than what some of those call guru offer for sale. May your type increase. What are you doing for those whose countries are not accepted by Paypal and Clickbank to have access to your programms? More grace. God bless you. Amen

    • Chris Lee February 2, 2013 at 11:02 am - Reply

      Hi Shina,

      Just wondering, do you know of any reliable payment systems besides Paypal and Clickbank? I’ll have my support team check those out.

  8. Eniola February 2, 2013 at 9:00 am - Reply

    good lesson for whoever cares for reality.

    if what we look for is quick-fixes, we sure will fall pray to these scams. of course they are in the majority and very vicious too.

    those who want to learn the ropes to survive in the long run shl’d stay away from these so called ‘gurus

  9. Bernie Cheang February 2, 2013 at 9:44 am - Reply

    Hi
    I absolutely support you in choosing the right path. You need to focus what you want to do in life. Look ahead on what you will be getting 20 years from now. Warren Buffet reach its peak almost upon his retirement age. So, stay on your course and upgrading your trading skills from time to time, I believe you can achieve amzacing income in time to come. Be happy and let your senses take you to the next level.

  10. joe February 2, 2013 at 9:47 am - Reply

    THANK YOU CHRIS

  11. antonio February 2, 2013 at 10:32 am - Reply

    Hi Chris, well said and well done, i am sure you are right; quality will pay always over quantity.

    Personally I delete from my emails all this smoke sellers without to read their messages,I read only few that are as you teaching and taking care of their followers.

    I am 70 and hoping this year to retire and dedicate full time (few hours a day) to the trading,I love it. For the moment I trade only night time because my life is too busy and stressing.

    At that time you will be my trading refering point.

    I wish you all the best,

    Eng. Antonio Peruzzi
    Jeddah – KSA

  12. Sam February 2, 2013 at 11:08 am - Reply

    Integrity – that is what you’ve got which others are lacking. As for me, any time I see the self labelled gurus becoming internet marketer I stop reading their mails because they are only after their pockets and not after the interest of traders.
    Please keep up the good work.

  13. Terry February 2, 2013 at 11:26 am - Reply

    I feel lucky to be your student from the first day you releases your first book “the candlesticks made easy”. And I feel lucky too to be a retail trader today, because of you and a all time member of “Pipmavens Inner Circle” from the day one. Thank you Chris!

    • Chris Lee February 2, 2013 at 4:11 pm - Reply

      Always a pleasure, Terry!

  14. jeffrey February 2, 2013 at 11:53 am - Reply

    Hi Chris, just to register my appreciation of your virtue of righteousness.As a newbie, I have learned a lot from your Blog. Hope you continue to guide us, and not sell us coated sugar as viagra.Thanks

  15. Omar W. Fuentes February 2, 2013 at 12:13 pm - Reply

    Hola Chris , Gracias por ser como sos verdadero que hoy en dia quedan muy pocos , segui asi , No cambies nunca , gracias y quedo a tus ordenes …
    Un abrazo ยก …

  16. john February 2, 2013 at 1:44 pm - Reply

    Hi Chris
    Just a quick comment re multiple recommendations from so called gurus or just marketeers or just bull s____ERs. As soon as I start receiving the same you must have this from the same people on a dreary list of recommender’s and lately some people who previously I respected have joined this bandwaggon then I ignore it and from then on also their communications.

  17. Obum February 2, 2013 at 1:47 pm - Reply

    Many thanks for your last blog. I had problems getting into one of your promotions because of paypal. You should bring in visa card.

  18. luis February 2, 2013 at 4:45 pm - Reply

    Hey Chris, hit the nail square in the center,thank you for for being an honest individual,unfortunately there are,but a few left in this planet.You will be rewarded,in the end, by it.Keep up the good deeds, my friend.Will always be an avid reader of your blog.

  19. Abel February 2, 2013 at 9:08 pm - Reply

    Hi Chris,

    I am not really surprised by your “article” because having read most of the articles you have written, I have found that the “blood” flowing in each and every vein & artery of those articles is a special type commonly referred to as INTEGRITY!

    It will not surprise me if you end up a “Life Couch” for as far as I am concerned you already are!

    God bless you Chris and I bet you will still be around when the gurus promoting “useless trading products” for gain are long gone!

  20. Kevin(Zach)Harper February 3, 2013 at 11:15 pm - Reply

    Hi Chris
    This is a very real But difficult subject to deal with as some of the so called GURUs have indeed been around a long time and continue to be around not hiding and do put out worthwhile products and services, so I feel we must be just a little careful and not broad brush all the so called GURUs as scams

    But it is fair to say many are over priced for what they are (I know having spent many 10’s of thousands over the years on various systems and programs
    Of which many work but do/did not suit me….
    But of course one has to try the system/method to find out if it does

    This is one of the main issues with becoming a consistently successful trader …finding a system / method that suits you as an individual..

    Often we blame the system/method for failing when indeed the real reason for it failing is staring right back at us in the mirror every day

    Love your style mate so keep working at and doing what’s right for you

    • Chris Lee February 4, 2013 at 5:02 am - Reply

      Hey Kevin,

      Thanks, I appreciate your comment!

  21. javier February 6, 2013 at 3:12 am - Reply

    Hi Chris!!

    Thank you so much for doing what you did!! You’re an inspiration to me as a mentor & trader who is sincere and encapsulates a free spirit.
    I truly aspire to emulate you and to trade &a travel( backpacking) in this journey of mine.

    Thank you so much once again. looking forward to your next blog entry!

    “)
    Javier
    SG

  22. James Thomson February 8, 2013 at 10:39 pm - Reply

    Thanks Chris, for being an honest guy, with high standards.
    I’ve seen other fields, where there are charlatans, and some good guys. The charlatans always fall by the wayside and the good guys keep doing what they’re doing, plus they can sleep at night!
    By leading by example, in any field, we create a better world.

  23. Aslam July 27, 2013 at 5:33 am - Reply

    Hi Chris,
    I was touched on going through your blog and the comments received.
    I guess you realise that there are many people on the road less travelled, so we are with you and you are not alone.
    Keep up the good work and may the force always be with you.
    Best Wishes.
    Aslam

  24. paul August 20, 2014 at 3:35 pm - Reply

    Integrity & goodwill is something more than GOLD.
    Keep up the good works & God in his infinite Mercy would reward you
    more abundantly.Remain blessed!!!

    • Chris August 22, 2014 at 3:27 am - Reply

      Thanks Paul, I’m glad you appreciate what we’re doing here.

  25. Richard Zarney January 27, 2015 at 1:34 pm - Reply

    Chris, you remind that once upon a time a hand-shake was a man`s honor.

  26. Kiang March 23, 2017 at 2:23 pm - Reply

    I just read this article about no to money. I agreed with you Chris, will support your cause on being a real guru rather than bluff one that rip people off with all kind of promotion. They themselves never even no how to trade at all.

  27. Kevin Oh March 27, 2018 at 12:09 pm - Reply

    Fully agreed and supported your views.
    Lots of BS out there. I have being scammed and ripped off.
    Once bitten twice shy.

Leave A Comment