Mis-quotes, incorrect quotes, and false claims attributed to, or about Mark Douglas and “Paula T”
Over the years, both Mark and I initially thought this type of mis- or false-information we began hearing was random. Around 2014, we began to realize that it was spreading, the easier it became for anyone to open a $5,000.00 trading account especially after crypto-currencies became all the rage – only the mis- or false-information increased with countless people hanging out their ‘shingle’ claiming to be experts at trading, trading psychology, and our materials. These same people began mis-quoting us on a regular basis, of course, to divert business to them using our reputation as the pull-in.
This is very problematic for both Mark and I, but I will share, probably a bit more problematic for Mark. As I have mentioned to many of you, I am the more passionate side of our collaboration, meaning I speak out more expressively - whereas Mark was a bit more conservative. He thought things through sometimes for weeks or months before commenting, which to be fair was part of the problem of the mis-information being propagated, because he did not want to stifle anyone’s creativity nor create long-term litigation over “he said/she said/we said” etc. Along with these two perspectives between Mark and I, we both have a highly developed belief system of what is “fair and equitable.”
On one hand, we are both private people not interested in having our faces and lives splashed across the Internet – mainly due to our personal spiritual and philosophical approach to life which we would never force on or influence anyone; and just as importantly because we believe the very nature of our materials speak loudly enough, to this day. However, I will share with you, once Mark realized the depth of this erroneous information being disseminated, information that has now become so pervasive across the industry, he felt somehow that he had failed or missed some critical parameter to share with traders the need for clear and concise information – all the while inherently understanding the mindsets of the ‘wannabes,’ jealous traders, greedy brokerage firms, and anonymous internet pirates in today’s world. Neither he nor I live in a vacuum obviously! But unfortunately, the growing crowd and apparent trend of people mis-quoting us – making it more challenging for new traders listening to these mis-quotes to grasp what it means to become and sustain consistency - was part of what broke his heart and led to his untimely demise. More on that in his upcoming biography.
Here is why all this was so crushing and shattering to him and to myself, and the key reason for this section.
Once the mis- or false-quotes began spreading across the internet by investment firms (URLs redacted) we worked with on Wall Street, as well as certain people (names redacted) in the U.S., Canada, U.K., Australia – most of whom we knew personally having worked with them in terms of coaching and workshops, now those traders new to the industry who may have not yet heard of our materials were hearing/reading these incorrect quotes attributed to us and thus believing it was valid material, began to use those quotes in their trading. We started receiving telephone calls and e-mails from these new traders, who understandably, were very upset thinking these mis-quotes had led them to financial ruin.
Many of the traders contacting us had saved up their money working at more than one job for years to be able to open a trading account, and now, having listened to providers they thought were experts [mis]quote us (again not knowing about our books themselves being new to the industry), along with other factors of course such as having their accounts churned or placing bad trades suggested by the providers – they had lost their entire trading accounts. Even more grievous in quite a few cases, their trading accounts were funded with monies from other family members. So, losing their trading capital was devastating to entire families…due to people mis-quoting us. Once we cleared the air as to the ‘correct quotes’ with the traders who had contact us, the pain and demoralization in their voices was overwhelming to us. Now, part of their emotional pain is they did not do their own research about us or our materials, and simply took other people’s information about us as truth. But that still does not diminish the importance of this section.
This is very serious business. To me.
Mark and I have spent a lifetime assisting about traders in an ability to grow their equity, and to hear these sad stories was devastating to us, and still is very disturbing to me as more traders contact me complaining about bad quotes. There was, and is little to do to assist them except to suggest they go back to the traders, providers, or firms that mis-quoted our materials (or implied they were our materials) to them and demand those people or firms to do something about their lost trading accounts, especially in those cases of financial ruin.
Of course, Mark and I both knew we could never erase or fix all that was being said, nor could we try except by speaking with traders as they contacted us, to dispel these myths and assist them in instilling the most objective and positive trading mindset possible. But that didn’t take away the fact that a growing number of traders have lost everything, and still are losing their accounts to this day due to idiots – and I’m being kind here - mis-quoting us repeatedly especially now in podcasts and on a specific popular trading platform (URL redacted) website.
For anyone who has not spent decades creating and perfecting materials and services to live life in a way to achieve their highest financial goals – and then choose to publish and share those materials with others as part of their career in the investment world, the information contained here will be moot. For those of you who are serious and professional-minded traders who truly choose to step into the unique mindset of a winner, and make an investment in themselves, my guess is you will understand the need for this section.