How much money and time have you spent on education?

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Old Dec 1, 2016, 12:44pm   #1
 
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How much money and time have you spent on education?

Hi folks! How's everyone doin?

I'm doing a little research for myself (really its just about if i should feel guilty for spending more than 7K bucks on courses so far haha).

If you are willin to share how much have you already spent on books, courses and so on and how long have you been trying to succeed it would be great!

If this catches on you can get an idea how are ya standing among other folks and if you should feel good or get the heck to work! So only honest replies please.

Thanks!
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Old Dec 1, 2016, 7:13pm   #2
Joined Apr 2014
I guess the answer would be 'whatever works for you'.

Personally - about £800, most of that in the last month or so when I decided to get more serious about trading.

I've certainly learned a lot from the 'investment' in training, but too soon to say yet if it will convert into increased profits

Rich
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Old Dec 3, 2016, 12:53am   #3
Joined Nov 2016
Just on education i'v spent around $2500 and it was the best investment. I bought a few books but that is different because you will have to spend money to grow as a trader. Books don't cost as much as the courses anyway.
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Old Dec 3, 2016, 6:34am   #4
 
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It's not about how much you spent, its about what you got for what you spent. Until you have a deep understanding of the previous statement you are the sucker in every market you participate in. What did you get for your 7000 is the better question? I haven't spent that much on explicit "trading education" and I have been in the sport for 10 years as of this summer.
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Old Dec 3, 2016, 6:42am   #5
 
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There isn't much that I have seen will allow you to shorten the learning curve other than being able to mimic an expert. The problem with that is that neophytes don't know what an expert actually looks like, so in general you have to take your lumps to learn what's going on. The goal is to make the learning as cheap as possible. Expensive mistakes are bad mistakes on or off the exchange.
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Old Dec 3, 2016, 7:12am   #6
Joined Nov 2011
I spent very little and read a lot of books. After a lucky streak it went pear shaped for a few years.

How much did that cost me? 3 years of no income, 3 years with a bleeding account. if i could have payed to shorten those years how much would it have been worth it to me? a tough question because there are no guarantees.

The problem is, and this is just my 2 pennyworth, i believe that most of the training outfits are run by failed traders who can talk the talk, but cant walk the walk so to speak and that is why they set up a training business. Maybe my short sightedness cost me during that period but i have friends who have paid up for training and been none the wiser.

Good luck with your learning period its a tough time which ever way you choose to go , my advice is to trade a small account and keep losses small until something clicks for you


Chalky
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Old Dec 3, 2016, 12:37pm   #7
Joined Oct 2016
Quote:
Originally Posted by Bob Brown View Post
Hi folks! How's everyone doin?

I'm doing a little research for myself (really its just about if i should feel guilty for spending more than 7K bucks on courses so far haha).

If you are willin to share how much have you already spent on books, courses and so on and how long have you been trying to succeed it would be great!

If this catches on you can get an idea how are ya standing among other folks and if you should feel good or get the heck to work! So only honest replies please.

Thanks!
Well if you have given so much money for courses you should open a thread with live trades so that the people here see if its worth it
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Old Dec 3, 2016, 12:44pm   #8
Joined Oct 2016
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Originally Posted by ConsensusArb View Post
There isn't much that I have seen will allow you to shorten the learning curve other than being able to mimic an expert. The problem with that is that neophytes don't know what an expert actually looks like, so in general you have to take your lumps to learn what's going on. The goal is to make the learning as cheap as possible. Expensive mistakes are bad mistakes on or off the exchange.
Thats the answer for all here,dont spent money for courses,except if its 30 a month.
Buy books instead and watch forums for ideas.
Well you could give 10000 dollars for a course and it could worth it but i have to say that those that know things that worth that much will not sell them, for many reasons
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Old Dec 3, 2016, 12:50pm   #9
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Originally Posted by Chalky_trader View Post
I spent very little and read a lot of books. After a lucky streak it went pear shaped for a few years.

How much did that cost me? 3 years of no income, 3 years with a bleeding account. if i could have payed to shorten those years how much would it have been worth it to me? a tough question because there are no guarantees.

The problem is, and this is just my 2 pennyworth, i believe that most of the training outfits are run by failed traders who can talk the talk, but cant walk the walk so to speak and that is why they set up a training business. Maybe my short sightedness cost me during that period but i have friends who have paid up for training and been none the wiser.

Good luck with your learning period its a tough time which ever way you choose to go , my advice is to trade a small account and keep losses small until something clicks for you


Chalky
I can anwer that guestion for you,if you have given money for courses you would have a bleeding account and 3 years of no income.
So if you want to learn more invest in books to learn,and cheap courses
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Old Dec 3, 2016, 1:03pm   #10
 
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Originally Posted by nero1 View Post
Dont waste your money in courses,you will learn the same things with books,they are just looking for suckers,only if someone is trading live AND only if he is less than 40 and 30 dollars per monthe,anything more is theft. That why im doing a special this monthe, only 29.99 a monthe, dont delay, learn the nero way!
Yep plenty of folks out there hawking for a bit of coin so you want to be a bit careful who you hand over ya hard earned to.

Ive never spent on or been to any seminars etc, but ive read what id regard as some decent books. Trader interviews by jack schwager, mark douglas trading in the zone all good. Pitbulls worth a read .
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Last edited by darktone; Dec 3, 2016 at 5:41pm.
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Old Dec 3, 2016, 3:25pm   #11
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Blowing accounts and losing money and time are considered cost of education as well , so its not just money spent on seminars or books ...
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Old Dec 3, 2016, 4:48pm   #12
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Originally Posted by nero1 View Post
I can anwer that guestion for you,if you have given money for courses you would have a bleeding account and 3 years of no income.
So if you want to learn more invest in books to learn,and cheap courses
Choosing which books or which trainer is soo difficult.

I read many that were good but ultimately did not help me making the transition to profitability.

I also found many people that could read yesterdays chart and tell you exactly, with extreme precision and in a convincing style where you should have bought and sold and reasons why. The acid test tho is when you show them the right hand edge of a chart and say OK then what do we be doing now, i found that most loose their conviction instantly......

Last edited by Chalky_trader; Dec 3, 2016 at 4:55pm. Reason: posted before finishing
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Old Dec 3, 2016, 5:17pm   #13
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Originally Posted by Chalky_trader View Post
Choosing which books or which trainer is soo difficult.

I read many that were good but ultimately did not help me making the transition to profitability.

I also found many people that could read yesterdays chart and tell you exactly, with extreme precision and in a convincing style where you should have bought and sold and reasons why. The acid test tho is when you show them the right hand edge of a chart and say OK then what do we be doing now, i found that most loose their conviction instantly......
Click the image to open in full size.

Something like this then
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Old Dec 3, 2016, 5:39pm   #14
Joined Oct 2016
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Originally Posted by Chalky_trader View Post
Choosing which books or which trainer is soo difficult.

I read many that were good but ultimately did not help me making the transition to profitability.

I also found many people that could read yesterdays chart and tell you exactly, with extreme precision and in a convincing style where you should have bought and sold and reasons why. The acid test tho is when you show them the right hand edge of a chart and say OK then what do we be doing now, i found that most loose their conviction instantly......
If you see a 30 minute chart or less and there is a pattern there, you can have a target in 2 hours frame or more or for another day.This dont need extra skills to do
Books about action price,volume interpretation,candlesticks,thats all,or maybe tape reading.
Someone will tell you to buy in targets and support,but that doesht make someone profitable,they just use these methods to convince someone to buy or that they are profitable.
Noone can make you profitable except yourself.I am sorry to tell you that my belief is that you wont find my best methods in books or mentors,so why you should pay 3000 dollars or more for that.
The odds are that most of people here will not find never what i know as much money they spend in tutoring.I have read 4 books only myself.
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Old Dec 3, 2016, 5:50pm   #15
Joined Oct 2016
The target-support-resistance trick is the best method to convince a newbie you are good in trading..without actual trading from yourself,i have seen it 1000 times from sites in greece where the guru said a target and after the target is reached he claimed he found the top or bottom,the newbie buys the guru staff and believes the guru is a master...
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