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 arabianights simple as that. also they've seen others making eeezzzzeeeee money from it, so why not! It's ...

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Old Jan 24, 2011, 11:21pm   #9
 
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Re: Why do they do it?

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Originally Posted by arabianights View Post
simple as that. also they've seen others making eeezzzzeeeee money from it, so why not!
It's great until one of your trainees drops £50k on a tip you gave and has a lawyer who gets around your "disclaimer" that hasn't been approved by a lawyer but just sounded good.
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Old Jan 24, 2011, 11:58pm   #10
 
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Re: Why do they do it?

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.
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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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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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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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