Why do they do it?

This is a discussion on Why do they do it? within the General Trading Chat forums, part of the Reception category; Originally Posted by meanreversion Does anyone have a positive experience of a mentor for whom they paid, they can't all ...

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Old Jan 27, 2011, 11:05am   #106
Joined Mar 2009
Re: Why do they do it?

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Originally Posted by meanreversion View Post
Does anyone have a positive experience of a mentor for whom they paid, they can't all be bad.
I tried a few and my experiences are mixed:
Whilst I did learn something from each and every one of them, there was a problem with each and every one of them as well.

..even 50Pips is charging 25 euros for 1 webinar a week now where you just get shown some levels and a chart!

InTheMoneyStocks - great analysis for intraday trading but it seems like they are doing something very dodgy with their small cap trades and they never admit to a loss without covering it up with some other legendary trade that they made. There is something dodgy going on with their small cap trades though, pump and dump type scenarios.

another member on this site teaches newbies but makes a LOT of trades every day. I think for a lot of newbies, this is tantamount to overtrading and most of them won;t deal with it well.

Twitter traders - most of them are just bloggers doing something to try and help their own trading but have no real justification. In fact, if someone in business in the financial world did what the bloggers/twitter traders are doing, they would probably be locked up.

Books - much the same as online vendors. Some even publish strategies that I was able to backtest with the use of a metatrader EA and proved them not to be working! Quite how they can get away with that I don't know.
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Old Jan 27, 2011, 11:12am   #107
 
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Re: Why do they do it?

Dante's room was okay. Serious talk about trading mostly which is what we used to have here in the 09. Now everyone keeps their cards to their chests and we have many lulz but very little real trading talk

tbh I'm thinking of joing a skype room or something buy I'm never f*cking paying that much. A week isn't really enough time to see whether the calls could even recoup some of the outlay in the event that you don't benefit from the experience.
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Old Jan 27, 2011, 11:15am   #108
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Re: Why do they do it?

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Originally Posted by SanMiguel View Post

..even 50Pips is charging 25 euros for 1 webinar a week now where you just get shown some levels and a chart!
20 quid a week? Bargain..is this him?

http://50pipsfx.com/about-2/
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Old Jan 27, 2011, 11:17am   #109
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Re: Why do they do it?

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20 quid a week? Bargain..
For 1 webinar? You're kidding right?
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Old Jan 27, 2011, 11:18am   #110
 
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Re: Why do they do it?

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Originally Posted by meanreversion View Post
Does anyone have a positive experience of a mentor for whom they paid, they can't all be bad.
I make no secret of getting training. I took 3 courses.

First was a total rip off. To be honest, I had no clue what I was looking for & the guy was an egotistical, asshole. (no, it wasnt a mirror)

Second was fantastic. Before I took this training I had ZERO clue as to what would cause you to make a profit. After this course, I became profitable but I still wasn't happy with one very specific aspect of trading.

After this, I set out to find an expert in that area. I found the guy, took one of his courses, which cost $1500 and he now helps me out whenever I want to bounce an idea off him. We chat regularly on Skype. There is no longer any money changing hands and he's actually helping me out on a new project for free. This is someone that has come to the end of their trading journey, having made enough $$$ to retire. I wont mention the name because he doesn't advertise his services, if he wanted his name all over teh interweb, he'd have done it himself by now I am sure.

Note that by the time I took the third course - it would have been fairly tough to bull**** me...
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Old Jan 27, 2011, 11:25am   #111
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Re: Why do they do it?

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Originally Posted by scose-no-doubt View Post
A week isn't really enough time to see whether the calls could even recoup some of the outlay in the event that you don't benefit from the experience.
hmmm...is that what the *community* wants..calls? Glad to see you put the caveat of "experience" in there ..
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Old Jan 27, 2011, 11:25am   #112
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Re: Why do they do it?

Good, so there are some decent mentors out there who charge. There had to be, in the same way that SOME systems you can purchase might be good.

DT, can I ask, did he help you with the trading aspect only or was it more psychology?
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