Jacko @ FF.com a scam?

[trader_dante]

But if your trading full time and making **** loads of bucks then why would you bother teaching anyone. Surely your time would be took up trading and spending the money having a life.

You use the web designer example but who says they are making lots of doe, maybe their not and that’s why they do freelance.

Most freelancers I know do it just to make money because they don’t make enough in there day jobs and have lots of bills to pay.

Why does a multi-millionaire soccer player not spend their free time coaching kids ?

Why does Lewis Hamilton not spend his free time coaching other drivers?

Why does Rupert Murdock not spend his free time coaching businessmen?

Why doe warren buffet not spend his free time coaching other traders?

Because they make money doing what they do?
And don’t need to BS the word into some sort of marketing scam to make a buck?

I think the problem is you are presuming that anyone that is a successful trader is extremely rich and making sh*t loads of bucks. That's simply not always the case.

Of course the people you have written about above would not be coaching anyone for money. But then you are choosing extreme examples of people that have made tens of millions in their chosen field.

If someone claims they have reached that level in their game and then says they are coaching others for money, yes, I would probably be somewhat dubious.

But it's easy to forget that making money in the markets is not just about finding an edge and then upping your size until you are making trillions of pounds per day.

There are many traders that have not made millions and may never make millions and yet still fall in the category of highly skilled professionals that have an edge and know exactly how to make very good money with it.

I know plenty of pros that earn £1,000 - £1,500 day in, day out, scalping the FTSE with rarely a losing day. The kind of traders that most people would love to be able to trade like. And I'm willing to bet you if I asked one of them to take a day off work to present a seminar teaching for £3,000 they would jump at the chance!

Again, you say that peoples time would surely be taken up trading. Well, it depends on your style. I watch the markets for close to 17 hours per day. I make 4 trades a week. My time is taken up basically waiting around. In other words, it could well be spent doing other things. But there is only so much 24 you can watch and only so much Call Of Duty you can play before you start to feel extremely unproductive!

 

[oildaytrader]

your maths is feckin appalling !

I was just testing the supporters of mentors.$10m a year and trying to pinch $10 k a year

 

[Chartsy]

17 hours dante? how much sleep do you get? i respect the commitment though

 

[trader_dante]

17 hours dante? how much sleep do you get? i respect the commitment though

About 7.

And no, I don't have a life!

 

[oildaytrader]

I can assure you that you wont make 10 based on your numbers

You should out one of these basic numeracy and literacy courses the last government was so fond of wasting money on.

Qualifies me to become Jackal the mentor.

 

[klastica]

I think the problem is you are presuming that anyone that is a successful trader is extremely rich and making sh*t loads of bucks. That's simply not always the case.

Of course the people you have written about above would not be coaching anyone for money. But then you are choosing extreme examples of people that have made tens of millions in their chosen field.

If someone claims they have reached that level in their game and then says they are coaching others for money, yes, I would probably be somewhat dubious.

But it's easy to forget that making money in the markets is not just about finding an edge and then upping your size until you are making trillions of pounds per day.

There are many traders that have not made millions and may never make millions and yet still fall in the category of highly skilled professionals that have an edge and know exactly how to make very good money with it.

I know plenty of pros that earn £1,000 - £1,500 day in, day out, scalping the FTSE with rarely a losing day. The kind of traders that most people would love to be able to trade like. And I'm willing to bet you if I asked one of them to take a day off work to present a seminar teaching for £3,000 they would jump at the chance!

Again, you say that peoples time would surely be taken up trading. Well, it depends on your style. I watch the markets for close to 17 hours per day. I make 4 trades a week. My time is taken up basically waiting around. In other words, it could well be spent doing other things. But there is only so much 24 you can watch and only so much Call Of Duty you can play before you start to feel extremely unproductive!

Do all of your 4 trades a week come off?

 

[Xenophobia]

hehehehehe I think Trader_Dante needs to read my FTSE100 course

ps: I willing to take you one on one, if you donate £1 for every £10 you make profit on my method to the charity I made a post about!

8/10 strike rate if you do what I do on the FTSE100 everyday.

 

[Black Swan]

I think the problem is you are presuming that anyone that is a successful trader is extremely rich and making sh*t loads of bucks. That's simply not always the case.

Of course the people you have written about above would not be coaching anyone for money. But then you are choosing extreme examples of people that have made tens of millions in their chosen field.

If someone claims they have reached that level in their game and then says they are coaching others for money, yes, I would probably be somewhat dubious.

But it's easy to forget that making money in the markets is not just about finding an edge and then upping your size until you are making trillions of pounds per day.

There are many traders that have not made millions and may never make millions and yet still fall in the category of highly skilled professionals that have an edge and know exactly how to make very good money with it.

I know plenty of pros that earn £1,000 - £1,500 day in, day out, scalping the FTSE with rarely a losing day. The kind of traders that most people would love to be able to trade like. And I'm willing to bet you if I asked one of them to take a day off work to present a seminar teaching for £3,000 they would jump at the chance!

Again, you say that peoples time would surely be taken up trading. Well, it depends on your style. I watch the markets for close to 17 hours per day. I make 4 trades a week. My time is taken up basically waiting around. In other words, it could well be spent doing other things. But there is only so much 24 you can watch and only so much Call Of Duty you can play before you start to feel extremely unproductive!

But you don't surely "watch" the markets all your waking hours..you're simply aware/ constantly on market message during you waking hours and fit that continual observance around your lifestyle..?

 

[shodd]

About 7.

And no, I don't have a life!

Thought about automation?

 

[gedward3]

Thought about automation?

I think he has. He's automated his dog to lick his b0llocks at 6am
every morning to wake him. Now thats what i call an automated
system.

He's now trying to scale up and get the cat to join in ......

 

[D70]

Why would a web designer that gets paid huge amounts by a company to design their site take on freelance work?

I'm not disputing there are loads of scammers but if you can make money trading and get paid to show people how you trade, why wouldn't you?

Sounds like a no brainer to me.

So I never understand this argument.

Interesting change of tone from you.......

 

[scose-no-doubt]

Interesting change of tone from you.......

wait for the link to his website. Training for £200 p/h

 

[Waterfield]

Funny thing is that's true

 

[Dubai]

What's the latest? Too many pages to read at FF.

 

[pboyles]

What's the latest? Too many pages to read at FF.

I read he disappeared with 3 million but there's so much nonsense on that thread that I cant really verify that.

 

[scose-no-doubt]

ooof

 

[redart]

I read he disappeared with 3 million but there's so much nonsense on that thread that I cant really verify that.

 

[Scotty2Cues]

i kind of regretted posting that cos it sort of inferred you were guillable...i apparently have too much faith in other peoples intelligence...your a fool, there is only one way for you to learn.

Why am I a fool and gullible? You got special powers or something - inferring that from a post or two of mine or just extremely presumptous. Good job it wasnt handwritten as you may have revealed more...

 

[clockwork71]

I am not sure if I will ever see a response to this post, as I hardly come over here.....(maybe I will start again.) but let me add my insight as one of those "gurus/scammers" or whatever you choose to call the commercial members over there. (Or here I suppose.)

It really comes down to who you are talking about. The trick is this: If they claim to be a millionaire, you are correct - they are full of ****. Honestly, why would I waste my time training a bunch of random people on the net if I had millions? I can tell you that a public thread can get a lot of views, but the conversion rate is horrible. It's not a mega-smashing business like some people seem to think.

If the whole idea is to convert views into members, the success rate is right up there with direct mailings. Horrible.

So why would someone charge money to train? Simple: It takes time, and they are not millionaires. Period. I know of one that is held in high esteem, claims to be a multi-millionaire, but doesn't understand that anyone can be found on the net....and the neighborhood and other business they are in - doesn't reek of a lot of money quite frankly.

Does that mean that a person has to be a millionaire to be a good teacher. Hell no. I am not, and I am good. I have never claimed to be a millionaire. I come from po' folk straight outta Appalachia. (For you Brits, its kinda like being Welsh. Which of course, I am descendant of. lol)

I came straight out and told people that I wasn't doing a benevolent service, I was opening a business. I do 6 times the webinars monthly of the "gold standard" over there, and did hundreds of hours of videos right away. This took time, and as such - I tried to make it a good value for the money. That's all you can do in business really.

Am I the best out there? Probably not. But I don't do this as my sole income. It's one of my businesses, of which I include trading live accounts.

I write for a few websites now, and am being offered journalism gigs as well. So why would I do this. Money. I know, evil, nasty money.....

But the truth is - in order to make a killing in the markets - you have to start out with a large amount of capital in the first place. Living off of forex winnings isn't easy, and the math dictates that you need a sizable account.....there is no way around that.

I trade because I love it. Oh, and I am trying to turn $40,000 into a house. But I am not stupid enough to think it will be in a year or two.....

As far as the money Jacko ran off with - please! It wasn't 3.4 million or whatever. I can promise you that. You have to keep in mind that most of the people on his thread are trading $1000 or less accounts. (The average retail account is about that size.) Truthfully, I would be surprised if it was over 100k. It would still make him an asshole though.

Didn't mean to be brash....but I thought I would shed some light. Just use common sense when dealing with one of us. Not all are bad, but enough are to warrant a little due diligence.

Happy trading y'all!

Chris

 

[arabianights]

I'm not disputing there are loads of scammers but if you can make money trading and get paid to show people how you trade, why wouldn't you?

Because trainees are ****ing annoying, suck your blood, and ruin your own trading.

And if you actually suceeded in training them, they'd be competing with you for liquidity.

Basically the only succesful traders who do it are idiots like me, and even I only intend to make that mistake once!

(This applies only to people who trade their own account, either at home or as a local/prop/etc)