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Fallacy #1: "My advisor or alert provider made me lose money!"

Really? Did you perform due diligence before you selected this
advisor? Did it occur to you that your trades are your own
responsibility, and that blindly trusting an advisor's
recommendations was your choice?

Fallacy #2: "That advisor or alert provider must not be doing
very well with his trading; otherwise, why would he have to
charge for an alert service?"

Consider Microsoft. They have enough money to be their
own country just from sales of Windows 98/NT/2000/XP. Yet
they have many other streams of income from other products.

This is not to say that your average alert service provider is
as rich as Bill Gates. The point is that it makes good business
sense to open as many sources of revenue as you practically
can within your realm of expertise.

Fallacy #3: "Greed is bad!"

Which kind of greed? The kind where one wants to do well,
and has in mind sending kids to college and having plenty of
money for retirement so he won't be a burden on others?
Or the kind where one will exploit and harm others to get
what he wants? The latter is bad. The former is good.

Greed in trading is only bad when it is a cause of drawdown.
If a trader is very greedy but is able to temper it with self-control
and let his logic override his greed when it comes to executing
trading actions, the greed probably isn't hurting him.