One of the first money-making strategies I developed involved tracking the worst traders I ever met...
This was in the 90s when I lived in Los Angeles. Back then, WeWork-style shared office spaces were popular with traders. The stations were set up with fast Internet (DSL!) and the software you needed to execute trades.
What I quickly learned is that no one knew how to trade.
But some traders were especially bad... they'd consistently lose money, blow up accounts and start all over again. It was their strategies I was particularly interested in learning about.
You see, if I knew exactly how someone consistently lost money... developing winning strategies became a walk in the park.
Or, to paraphrase Seinfeld, if every trading instinct they had was wrong, then the opposite would have to be right.
So I developed systems that took the other side of losing trades. And it worked incredible well -- I was one of the few successful traders in that entire building.
These days, it's much easier to figure out what doesn't work. All you have to do is Google "winning trading strategy."
Most of the results will be "classic" setups that no longer work.
Think about it… if something as simple as buying a stock after a moving average crossover consistently worked, don't you think the Goldman Sachs of the world with billions on the line would be all over it?
The reality is that popular strategies based on crossovers, 20-day breakouts and extreme RSI readings are broken.
They worked at some point... but everybody and their mom knows about them now. So whatever edge they once provided has disappeared.
But that's perfect for us.
And why I teamed up with Josh Martinez to develop a strategy that bets against "dumb money" -- investors following outdated strategies (get the details here).
It might feel a little crass to bet against unskilled investors, but it's a proven winning strategy. The trades have already delivered gains of 395%, 420% and even 444% in a matter of days.
It worked in the 90s when very few people had access to online trading. These days, anyone with a prepaid visa card, a phone and a pulse can trade.
The result? Millions of bad trades are made every second...
Wall St. regularly makes money off these terrible trades. You can either let them keep all of that money or join the winning side. I made my choice when I first started trading...
And if you join me tomorrow at 12 p.m. ET, I'll review some of the worst strategies out there and how to profit from them.
But you must RSVP for the event now. The registration page is coming down soon.
See you tomorrow!
Roger Scott
WealthPress
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