Trader Dante new course

[NVP]

As coaching and mentoring traders is a totally unregulated business, it amazes me that people will hand over hard earned cash to other traders in an attempt to learn their trading technique. Only around 5% of traders are successful which probably means that only 5% of coaches are successful.

Trading skills are not transferable!

Any coach who is not totally transparent about their trading history has got something to hide. You can learn that the hard way or the easy way

wrong - Coaches who con money out of newbees are 100% successful

N

 

[MajorMagnuM]

Am i wrong, but i thought Trader Dante was a success story from here in the past?

 

[MajorMagnuM]

indeed. but attractive as super normal profit.
anyway i think he is on twitter and people say he is good (if that means anything at all.
Mate did you see my NU long on Friday? I grinned to myself that night

 

[Forexmospherian]

indeed. but attractive as super normal profit.
anyway i think he is on twitter and people say he is good (if that means anything at all.
Mate did you see my NU long on Friday? I grinned to myself that night

Hi MM

He seems to be a good marketeer as well - ie he's got himself on Wikipedia

https://en.wikipedia.org/wiki/User:Genics_Rothschild/Trader_dante

I think I have told you this before - but over 10 years ago I spent $200 a month following a well known American FX Trader ( and marketeer) to join his site and follow his daily calls etc . I think I followed him - a guy called Steve Matrix for over 3 months and I found out I was one of over 420 paying members paying a monthly fee for his trading services

So $200 a month times 420 followers / members = what over $84k a month he was making besides his trading - which I would say was only just above average in terms of his results he was calling on a twice daily basis.

He employed staff to do his marketing and send out all his info and calls - but on that type of money - I am sure you could employ 1 or 2 young female assistants to offer a professional service.

He was reportedly a multi millionaire having spent years on Wall St etc etc - but whether he was making $10k or $100k per month from his trading - nobody really knew .

I am sure his churn rate would be high ( minimum membership I think was just 3 months ) but I am sure there would be some traders who made more then $600 profit from his calls during that time and so would think it was good value following him and stay with him and not bothered learning more themselves .

Regards

F

 

[MajorMagnuM]

well thats good money for doing alot less than happens on your thread.
sh1t
how did he earn his reputation, he must have been good at trading?

 

[tomorton]

As coaching and mentoring traders is a totally unregulated business, it amazes me that people will hand over hard earned cash to other traders in an attempt to learn their trading technique. Only around 5% of traders are successful which probably means that only 5% of coaches are successful.

Trading skills are not transferable!

Any coach who is not totally transparent about their trading history has got something to hide. You can learn that the hard way or the easy way

Though your mathematical assumption may be wrong, I agree with the logic. Why would a successful trader waste their time and effort training anyone? Surely its just wasted opportunity compared to their regular trading?

Unless the money they can make training is just so silly they can't refuse it. Which isn't saying much for their integrity.

Despite the above, training in straight TA can be a useful foundation. I took a pure TA course myself long ago and it has repaid me many times over. Learning to trade was not on the syllabus but until you've learned to do your own TA you can't learn to trade.

 

[Forexmospherian]

well thats good money for doing alot less than happens on your thread.
sh1t
how did he earn his reputation, he must have been good at trading?

Good Question - A lot of self publicity and spending on advertising and giving free trials for a week etc etc and telling customers he would NOT win every day - but in a 20 day month expected to be profitable over 14 days and his losses being smaller than his wins etc etc - plus the odd picture of him with his Ferrari and luxury Mansion and when he was working in Wall St.

Normal stuff - I fell for it - and though he was good for a start - and still would have done if I had not been so inquisitive and had not been so keen to solve the "puzzle" a better way

Regards

F

 

[leemo]

If someone was a successful trader I'd question why they were selling courses on the internet. If you can trade profitably you'd make significantly more money focusing on that than playing the vendor game.

Very true. The most important question to ask is "Are you willing to prove that you are a consistently profitable trader by showing your live accounts." If he/she says no then.... Run for the hills

 

[leemo]

Though your mathematical assumption may be wrong, I agree with the logic. Why would a successful trader waste their time and effort training anyone? Surely its just wasted opportunity compared to their regular trading?

Unless the money they can make training is just so silly they can't refuse it. Which isn't saying much for their integrity.

Despite the above, training in straight TA can be a useful foundation. I took a pure TA course myself long ago and it has repaid me many times over. Learning to trade was not on the syllabus but until you've learned to do your own TA you can't learn to trade.

Technical analysis is not difficult and aids to it are splattered all over the internet on FREE web sites. You don't have to pay a penny.

Maybe for a total novice who is not very good at research, a £200, 2 day course is worth the expense. The novice trader should probably expect that this cheap course is just a sales exercise for a £5000 membership

 

[malaguti]

Why would a successful trader waste their time and effort training anyone? Surely its just wasted opportunity compared to their regular trading?

Unless the money they can make training is just so silly they can't refuse it. Which isn't saying much for their integrity.

I'm not so sure. I often hear if the trader was any good he would just trade, not teach. This just doesn't make sense to me.
On his own he's trading, he might have written up the course when he's not trading, has the opportunity to reach out to hundreds, this gives rise to a skype "follow me" live blah blah blah and what is he doing?..still trading.
Doing what he's doing before, successfully or otherwise but this time he's being paid to do it AND like I say reaching out to hundreds more should he ever want to bring out another course

To me it sounds like a no-brainer. Successful or otherwise, its good marketing

 

[tomorton]

I'm not so sure. I often hear if the trader was any good he would just trade, not teach. This just doesn't make sense to me.
On his own he's trading, he might have written up the course when he's not trading, has the opportunity to reach out to hundreds, this gives rise to a skype "follow me" live blah blah blah and what is he doing?..still trading.
Doing what he's doing before, successfully or otherwise but this time he's being paid to do it AND like I say reaching out to hundreds more should he ever want to bring out another course

To me it sounds like a no-brainer. Successful or otherwise, its good marketing

I can only see it as a cynical practice and ironically a poor use of time.

Cynical - Following another's trading style is notoriously difficult so most of the trainer's students are paying through the nose to learn how to fail. By all our previous experiences, the more complex courses will appear to be better value, more condensed, more technical (not just silly MA crossovers) - but that just makes the trading they contain even more difficult to replicate profitably.

Poor use of time - If you can make money trading, do it and if you need more, trade more: if you can't do it, you don't deserve to be teaching it. If youi're making enough and can trade less, spend the non-trading hours properly - in the pursuit of selfish enjoyment (or doing some charity work).

 

[malaguti]

I can only see it as a cynical practice and ironically a poor use of time.

Cynical - Following another's trading style is notoriously difficult so most of the trainer's students are paying through the nose to learn how to fail. By all our previous experiences, the more complex courses will appear to be better value, more condensed, more technical (not just silly MA crossovers) - but that just makes the trading they contain even more difficult to replicate profitably.

Poor use of time - If you can make money trading, do it and if you need more, trade more: if you can't do it, you don't deserve to be teaching it. If youi're making enough and can trade less, spend the non-trading hours properly - in the pursuit of selfish enjoyment (or doing some charity work).

i don't disagree with your points, other than poor use of time. I'm not interested in the moral dilemmas of training, its answering the question why would you if you really could trade.
Like I say if he wasn't trading, what better use of time is there, than increasing his ability to generate more
I work for myself, have a great daily rate..if I wanted to earn more, I'd have to work more. That might mean weekends. That's not a clever use of time.
Now, if I was really clever, I'd train people to be able to do what I do, subcontract such that other people would do the work for me at a cheaper rate and I'd benefit. AND, I can still go out to work myself or pursue the nobler charitable duties and not worry about missing out.
Does it mean I'm not successful at doing what I do? Of course not, I've just found a way of increasing my revenue streams regardless of how good I am
Working more yes can help, but its about working smarter. Its not about having enough, its just about being able to do the exact same and still be better off.

now, being really good at what I do, helps. I have a reputation, should that suffer, then my potential to generate that income suffers. So does the trader, but thats a completely different issue. for a time, however limited he is able to generate two sources of income and still carry on doing what he was doing. Thats good business sense

 

[barjon]

I've spoken to (and seen account proof) of several (very) profitable professional traders. I'm talking about individuals who are making in excess of several hundred grand pa. These guys aren't vendors. They aren't selling internet courses. They don't pretend to make 20% per day, or 500 pips each morning. They aren't on forums like this. One of these guys would likely earn more in a day than these wannabe vendors could earn in a year.

And if one of those traders lost his nerve, or decided he was fed up with the daily trading grind, wouldn't he still have something of value to offer aspiring traders?

 

[Splitlink]

How long is a piece of string? Novice traders hope to find someone willing to teach them how to trade. Apart from chart theory, nothing can be taught. though. One, either, becomes able to make money out of it, or he does not and no teacher, no matter how expert can change that.

I can swim and ride a bike. However, I have never been able to dive, head first, into a pool. It's a mental block. I believe that in trading, with me, the risk is my mental block.

I am comfortasble owning shares because I know how to assess that kind of risk, with FA. Trading I have never been a great success at. I doubt that I could be taught. I get it, myself, or I don't.

 

[tomorton]

But malaguti, no aspersions meant on either your trading or training capabilities - but you can't teach people to trade like you do and make a profit like you no doubt do.

OK, you can 'demonstrate' what you do, and you can successfully teach them e.g. pure TA, but they won't be able to replicate your trading style. The truly successful traders haven't achieved their success through academy courses.

So I'm happy to be stuck with my position, a) good traders don't need to train people, b) good traders with integrity won't train people.

 

[tar]

Its not black or white , a trader could be partially profitable , meaning he makes money for a few months then faces DD for the rest of the year but still ends the year in black . Or maybe a trader is just making a couple of hundreds monthly which makes him profitable yes but it still sucks .

The only way to prove someone is profitable is by providing a verified track record for said period with all the details . And even then its just a proof for being profitable for the period in question . The odd statement , live calls , blogs , courses ... etc arent enough as a proof .

And after proving a trader is profitable , comes the question how much is his max DD , how much %/$ he makes annually ... etc .

 

[leemo]

And after proving a trader is profitable , comes the question how much is his max DD , how much %/$ he makes annually ... etc .

I agree, A mentor/vendor/trainer who is charging good money should be able to show live accounts going back at least 2 or 3 years showing a growing balance. 1 year's success is not enough. I've done that and I'm back to break even again

 

[tar]

I agree, A mentor/vendor/trainer who is charging good money should be able to show live accounts going back at least 2 or 3 years showing a growing balance. 1 year's success is not enough. I've done that and I'm back to break even again

I've seen track records on collective2 going back to the red after being in the black for years ...

 

[NVP]

And if one of those traders lost his nerve, or decided he was fed up with the daily trading grind, wouldn't he still have something of value to offer aspiring traders?

Possibly.........but he cannot hope to get people to replicate his innate ability to trade

Poor clones at best.......and a 99% clone may not cut it. ?

Under standard business practices these days would he guarantee profits and or give every penny back if they fail ??

N

 

[NVP]

I agree, A mentor/vendor/trainer who is charging good money should be able to show live accounts going back at least 2 or 3 years showing a growing balance. 1 year's success is not enough. I've done that and I'm back to break even again

A good mentor needs to prove his students are profitable

Full stop
N