Why do they do it?

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Old Jan 24, 2011, 12:12pm   #1
 
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Why do they do it?

Presumably most people get involved with trading to make money. [later on you can hone your skills just as you might with golf - and derive much satisfaction from that]. But I'm curious as to why there are so many trainers / vendors out there - I suppose many of them enjoy training but the underlying reason has to be a financial one doesn't it?

Here's my personal take: I trade simply and successfully - I don't need to do it for a living & really it's just an extra source of income. But, if I want more money I just execute more trades (because I know what I do is profitable within my "small-time trader environment". So, it's relatively easy and really no hassle.

I would have thought that most people with a successful method would approach it in my way - who would really want the bother of teaching/mentoring/coping with dumb-nuts etc? I therefore reluctantly conclude that many (though certainly not all - I have known of good bona-fide trainers) of these people make more money from training than trading.

Or am I wrong - and is the truth that they just love training others?
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Old Jan 24, 2011, 12:23pm   #2
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Re: Why do they do it?

I train people partly for selfish reasons, it makes me better. I never charge money though. When I was active in Tae Kwon Do, I took part in loads of competitions successfully but enjoyed teaching as well as it puts the teacher (me) under scrutiny and forces me to be better.

Same in trading.


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Old Jan 24, 2011, 12:25pm   #3
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Re: Why do they do it?

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.
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Old Jan 24, 2011, 12:44pm   #4
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Re: Why do they do it?

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That's why no trainer will ever show you an account statement.
You are referring to those who ask for money to train you or everyone? That's quite a broad statement.
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Old Jan 24, 2011, 12:46pm   #5
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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.
I dont think you can paint all trainers with the same brush.
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Old Jan 24, 2011, 12:50pm   #6
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Re: Why do they do it?

Yes I was referring to the guys that market these expensive seminars and courses for several grand.
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Old Jan 24, 2011, 1:31pm   #7
 
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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.
simple as that. also they've seen others making eeezzzzeeeee money from it, so why not!
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Old Jan 24, 2011, 11:13pm   #8
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Re: Why do they do it?

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Originally Posted by 0007 View Post
Presumably most people get involved with trading to make money. [later on you can hone your skills just as you might with golf - and derive much satisfaction from that]. But I'm curious as to why there are so many trainers / vendors out there - I suppose many of them enjoy training but the underlying reason has to be a financial one doesn't it?

Here's my personal take: I trade simply and successfully - I don't need to do it for a living & really it's just an extra source of income. But, if I want more money I just execute more trades (because I know what I do is profitable within my "small-time trader environment". So, it's relatively easy and really no hassle.

I would have thought that most people with a successful method would approach it in my way - who would really want the bother of teaching/mentoring/coping with dumb-nuts etc? I therefore reluctantly conclude that many (though certainly not all - I have known of good bona-fide trainers) of these people make more money from training than trading.

Almost certainly this accounts for the vast majority.

Or am I wrong - and is the truth that they just love training others?
Maybe a tiny minority do - I would imagine that they would be difficult to find however.
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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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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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