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 Masquerade It's the old saying "those who can, do. Those who can't, teach" not to mention it's ...

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Old Jan 25, 2011, 12:03am   #11
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Re: Why do they do it?

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Originally Posted by Masquerade View Post
It's the old saying "those who can, do. Those who can't, teach" not to mention it's variance free money without the need to do anything special. Just the biggest trick to pull off is to convince people you do something different to what everyone else offers.
I'm very cynical obviously, but in the interests of balance I'm sure there are some training and teaching websites / groups etc that are worthwhile. I think this because I've been a member of one (not saying which) and it helped me enormously.

It is true that most of what I learnt is freely available, and it is true that I never had proof of whether the people running the site traded profitably. But that didn't matter of course - the material was good, so was the support.

I think it's legitimate to distinguish between people offering assistance with learning (for a price of course) and the "Mega Forex Profits System only $200!!!" crowd.
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Old Jan 25, 2011, 12:09am   #12
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Re: Why do they do it?

one big problem is that if people find something for free they assume its worthless.

so a trainer can tell you exactly what is already known but you only really value it and learn it and put it into practice because youve paid something for it so it must be valuable. even though you already knew it for free ;-/
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Old Jan 25, 2011, 12:48am   #13
 
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Re: Why do they do it?

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Originally Posted by pboyles View Post
Those who can do, those who can't teach. Therefore if you know a bit about trading but are not profitable then it's easier to make money selling courses to gullible people. That's why no trainer will ever show you an account statement.
Interestingly enough, when George Bernard Shaw wrote "He who can, does. He who cannot, teaches" in his Maxims for Revolutionists, he also added the aphorism: "It is dangerous to be sincere unless you are also stupid".

;-)
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Old Jan 25, 2011, 12:53am   #14
 
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Re: Why do they do it?

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Originally Posted by Pazienza View Post
I'm very cynical obviously, but in the interests of balance I'm sure there are some training and teaching websites / groups etc that are worthwhile. I think this because I've been a member of one (not saying which) and it helped me enormously.
Oh....i'm not saying that it's not worthwhile for some people. I'm just saying the guys who run them are crap traders. A great basketball coach doesn't need to be a great basketball player.
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Old Jan 25, 2011, 12:55am   #15
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Re: Why do they do it?

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Originally Posted by Masquerade View Post
Oh....i'm not saying that it's not worthwhile for some people. I'm just saying the guys who run them are crap traders. A great basketball coach doesn't need to be a great basketball player.
A fair comment.
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Old Jan 25, 2011, 3:04am   #16
 
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Re: Why do they do it?

I was thinking about this the other day as I often do. The old "He who can, does. He who cannot, teaches" kind of makes sense. I mean, why go to the effort of writing and publishing a book if you can make money trading? But when I thought about it a bit more, there are plenty of wealthy people who write books. J K Rowling for example. She could have just written one and retired. So there must be other reasons why people write books other than money. Therefore, could the same not be said about teaching courses? Why should a trader be restricted to the one income source?

Look at the likes of BBmac. Of all the useful stuff he's posted here over the years there is enough to write a book - I know as I've printed most of it off! But he's not done that for any financial gain so he must be getting something from helping people/teaching. What motivates him to take the time to write long detailed posts? I definitely couldn't do it.

Anyway, I am not really sure what my point is, its been a long day and too many Moscow Mules for Megamuel! (After the pints - I'm not a poof!)

Sam.
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Old Jan 25, 2011, 3:09am   #17
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Re: Why do they do it?

I think the illusion is that as soon as you are a profitabel trader then you will allways make monet for ever and ever and ever amen.

some people sell signals for moeny

some people coach because they only trade 4 hours a day

the whole idea like "why would you teach if you can trade?" is only ever said by people that cant trade.

really.
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Old Jan 25, 2011, 5:07am   #18
 
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Re: Why do they do it?

Why are there courses and coaches when most of the subject material is available for free? Different people have different learning styles. Different people have different appetites for hand holding. There are road maps. There are navigation aids. There are personal guides. Each level of personal attention provides added value for those who value those services.

Just because you are a road map person is no reason to deprecate those who provide the added value services.
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Old Jan 25, 2011, 7:35am   #19
 
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Re: Why do they do it?

In the trading domain - there is a lot of information for free - but it's floating in a sea of bu11****. For every useful piece of information there are 1000 useless ones.

There are a few good trainers but same thing applies - for every good one, there's 1000 useless ones.

I think there's a few ways to weed out the wheat from the chaff:

1 - Talk to the people directly, not by email
2 - Do not be afraid to ask difficult questions - how much do you make, how much do you risk, win ratios, to see some live trades
3 - Do not be afraid to ask for confirmation of number 2
4 - Be vary wary of someone willing to give up a trading day for $200 of your cash
5 - Ask for a reference off an ex-student (but be aware they could be a stooge)
6 - Be prepared to back a few losers before you find the real deal

It's a hard road.
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Old Jan 25, 2011, 10:01am   #20
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Re: Why do they do it?

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Originally Posted by 0007 View Post
I'm curious as to why there are so many trainers / vendors out there -
Desperation. Its the only way they can make a quick buck
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