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Will You Add? - FOREX Brokers – What I Learned as a Broker Trading 5,000 Clients
Last Monday I met with a new client – a representative of a local university. She was a very cheerful lady but had no marketing background, and was completely in the dark about what promo item to choose. At the top of her list were custom magnets – she wanted refrigerator magnets with her university logo, and she wanted the enrollment and inquiry trunk line imprinted, too.I could see where she was coming from. Magnets are, after all, among t
Cocky as anything and believed they had a divine right to win, because they were clever.
They would ignore my warnings, that they would not win with systems that were too complicated and tell me to mind my own business.
If I am honest, when they learned the reality of a wipe out, I felt a little inclination to say “told you so”, but never did.
Perhaps my favorite client was a retired lady, 81 years of age, who lived on
Gone are the days when people used to encircle job listings in newspapers and wait for interview calls. Finding a job in India has become so much easier after the web has entered the public domain, says RK Sachdeva, CEO, Tecumseh India Pvt Ltd. He goes on to add that e-recruitment has a major role to play in the hiring of a manpower of 2000 which is a part of the Indian branch of this multi national company.The Wikipedia encyclopedia defines
I will reveal who won, who lost, how we made money and how we treated them.
I joined as a rather green salesman and had no idea about the reality of forex and futures trading.
I was excited about joining an industry where millions were made and millions were lost by clients – It was very exciting!
The company
I was rather shocked at the reality which was:
Clients didn’t appear to win very often and the company based its balance sheet on commission to equity.
The view was that about 95% of clients would lose and they would do it all on their own, with no help from us.
The clients we liked (from a financial perspective) were the ones who made commission for the company and top of the list were:
Day traders:
They lasted for short periods, never won and made loads of money for the company.
If they believed it worked, let them get on with it and we would take the commission.
Shoot from the hip traders
The action men.
They loved the buzz, in and out all the time, trading the news and advice from gurus and with no discipline.
Again, they wiped themselves out and made us plenty of money.
The company did not dislike its clients.
We treated all clients well and did what a good broker should:
Help them with queries and made sure they got fast accurate executions.
We just let them do as they wanted and in most cases they lost – that’s simply the reality of trading.
The clients
We had clients from all walks of life, from retired people, to highly educated mathematicians and the few that did win surprised me.
The ones I personally hated were the ones I will refer to as “educated fools”
Cocky as anything and believed they had a divine right to win, because they were clever.
They would ignore my warnings, that they would not win with systems that were too complicated and tell me to mind my own business.
If I am honest, when they learned the reality of a wipe out, I felt a little inclination to say “told you so”, but never did.
Perhaps my favorite client was a retired lady, 81 years of age, who lived on
The student market is now one of the most profitable for the credit card industry as a whole. This is due mostly to the fact that many students only pay the minimum due each month, are often late with payments and tend to use cash advances more than typical consumers. All these activities represent huge fees and profit centers for the credit card companies that know if a student falls behind in payments that in most circumstances the parents will
I was rather shocked at the reality which was:
Clients didn’t appear to win very often and the company based its balance sheet on commission to equity.
The view was that about 95% of clients would lose and they would do it all on their own, with no help from us.
The clients we liked (from a financial perspective) were the ones who made commission for the company and top of the list were:
Day traders:
They lasted for short periods, never won and made loads of money for the company.
If they believed it worked, let them get on with it and we would take the commission.
Shoot from the hip traders
The action men.
They loved the buzz, in and out all the time, trading the news and advice from gurus and with no discipline.
Again, they wiped themselves out and made us plenty of money.
The company did not dislike its clients.
We treated all clients well and did what a good broker should:
Help them with queries and made sure they got fast accurate executions.
We just let them do as they wanted and in most cases they lost – that’s simply the reality of trading.
The clients
We had clients from all walks of life, from retired people, to highly educated mathematicians and the few that did win surprised me.
The ones I personally hated were the ones I will refer to as “educated fools”
Cocky as anything and believed they had a divine right to win, because they were clever.
They would ignore my warnings, that they would not win with systems that were too complicated and tell me to mind my own business.
If I am honest, when they learned the reality of a wipe out, I felt a little inclination to say “told you so”, but never did.
Perhaps my favorite client was a retired lady, 81 years of age, who lived on
There are libraries full of sales related books that offer and describe the successful steps in a sales process. I located one the other day that suggested the basic three steps of a sale as: 1. Establish Rapport 2. Identify Problem 3. Present Solution There was another listed which has four steps to the sales process of: 1. Attract the Prospect 2. Interest the Prospect 3. Convince the Prospect 4. Close the P
If they believed it worked, let them get on with it and we would take the commission.
Shoot from the hip traders
The action men.
They loved the buzz, in and out all the time, trading the news and advice from gurus and with no discipline.
Again, they wiped themselves out and made us plenty of money.
The company did not dislike its clients.
We treated all clients well and did what a good broker should:
Help them with queries and made sure they got fast accurate executions.
We just let them do as they wanted and in most cases they lost – that’s simply the reality of trading.
The clients
We had clients from all walks of life, from retired people, to highly educated mathematicians and the few that did win surprised me.
The ones I personally hated were the ones I will refer to as “educated fools”
Cocky as anything and believed they had a divine right to win, because they were clever.
They would ignore my warnings, that they would not win with systems that were too complicated and tell me to mind my own business.
If I am honest, when they learned the reality of a wipe out, I felt a little inclination to say “told you so”, but never did.
Perhaps my favorite client was a retired lady, 81 years of age, who lived on
Why did you choose your hosting company? Was it because the service that the company offered was second-to-none and strong up-time was guaranteed. Perhaps the cost was affordable? Maybe you had no choice in the matter and it was part of your website design package. Whatever your decision was – if your site is running shared hosting then you may be getting penalized by the Search engines without you even knowing it.The majority of websites on
Help them with queries and made sure they got fast accurate executions.
We just let them do as they wanted and in most cases they lost – that’s simply the reality of trading.
The clients
We had clients from all walks of life, from retired people, to highly educated mathematicians and the few that did win surprised me.
The ones I personally hated were the ones I will refer to as “educated fools”
Cocky as anything and believed they had a divine right to win, because they were clever.
They would ignore my warnings, that they would not win with systems that were too complicated and tell me to mind my own business.
If I am honest, when they learned the reality of a wipe out, I felt a little inclination to say “told you so”, but never did.
Perhaps my favorite client was a retired lady, 81 years of age, who lived on
Ok, so you have found out about the millions of people who are profiting by selling other people’s products. And now you want a piece of the action and who can blame you? So now you know what you want how do you get started? Chances are that you are currently suffering from information overload and you can’t put together a strategy for success. I know because I’ve been there myself, but it you apply yourself and get good advice it is perfectly p
Cocky as anything and believed they had a divine right to win, because they were clever.
They would ignore my warnings, that they would not win with systems that were too complicated and tell me to mind my own business.
If I am honest, when they learned the reality of a wipe out, I felt a little inclination to say “told you so”, but never did.
Perhaps my favorite client was a retired lady, 81 years of age, who lived on a sheep farm in Australia.
A lovely lady and she taught me a few things, that I remember to this day.
She devised a system and showed it to me.
It was a simple buy and sell strategy and relied on holding big trends for months on end and you could learn it in a few hours.
Personally I thought it was to simple to work, but she built a $5,000 account to $39,000 in three months and had passed $100,000 in under a year.
She drew her charts by hand ( this was the late eighties) and didn’t have a TV and never read the papers.
Each day she would check her prices draw her charts and make her trades if she needed to.
A polite, humble trader, who was loved in the office by all.
We all had respect for the way she was our most profitable trader, even above some quite well known money managers.
We had many other clients.
Most lost and some won ( very few), but the ones who did win were humble, had simple systems, traded only when their systems told them to, had iron discipline and believed they were right.
This is just my experience.
I did trade a lot of people.
They from all walks of life and I learned very few won, but the ones who did, kept it simple, the ones who didn’t, had big ego’s, or liked excitement and traded with their emotions lost.
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