Hi, Zelo,
I can appreciate and respect your post above - there are scammers, poor trading courses, even worse trading coaches/mentors, falsely-advertised "winning" trading systems, etc!
However, there is also an important reason to study the other side of the perspective "coin". Why would high-performance educators, specialists, charge $$$ to teach?
First - if you have a set of skills and you can train/teach accurately to produce like-results to students, would you give away your skill-set and time always? If yes - most likely you do not have a very high value on the principles of wealth and fair exchange of values. If this is true - you will need to read and study on these topics.
But let's focus more on the "whys" should high-performance training require a tuition fee. In this regard, I will use the analogies from highly specialized areas of high performance programs: Olympic athletic training/coaching, Military/Spec Ops training, Surgery/Transplant training, Hedge Fund Trading, astronaut/space training, wealth-training, entrepreneurship, professional sports, etc.
Just because a training firm or mentor/coach in the high-performance arena may already be wealthy and generating tons of passive income - does NOT mean that the firm or mentor/coach will throw out their deeply-held beliefs of fair exchange of value. They will not give up their time and resources and knowledge freely. It is NOT because of greed - it is because of the deeply held belief and focus in understanding and application of fair exchange of value. Understand, Zelo?
:smart:
1. It is often said, read, and marketed - that the steps and process are "easy" and direct and clear for the participant. Marketing and PR and Ad firms have been exploiting the "easy street" campaigns continuously!
2. What parts of the "steps and process" are not marketed? The process is extremely difficult and competitive and with a high drop-out/failure rate; the duration of training/coaching is uncertain; the level of skills/competency achieved may be insufficient to successfully complete/compete; completion of the training is only the beginning of the journey.
3. It takes between 21-30 days to develop a routine (practiced repeated and daily and measured for task completion/success) into a weak habit. More often, it takes at least 90-180 days of daily multiple repeated drills and conditioning(s) to embed this weak habit into a "reframe" that is deemed "beneficial and fun and necessary" by the trainees!
4. Most individuals fail not because they do NOT know the steps or NOT having the requisite knowledge. But - having knowledge and knowing does NOT equal having the skill-set to execute and compete and reach a final successful outcome or mission.
5. There are many points of failure, many points of exhaustion. There are many obstacles and demands and risks (risk of failure, of feeling stupid, of guilt, etc) that are so deeply embedded in that trainee's paradigm (old, established habits, beliefs, programming) that will compete extremely well to maintain the status quo!
6. The hidden and unseen and tireless insidious old paradigms are always there pushing and testing. Any weakness in belief, energy level, focus, commitment - will ultimately lead to self-sabotage or a failed objective/mission.
Zelo - are you able to see the numerous areas of skill-set and conditioning regimens and drills that need to be applied daily (and repeatedly) for high-level performance activities? :whistling :idea:
And the above items I've laid out represent only a small aspect of true training and mentoring/coaching!
If you only realize and understand the depth and scope of the information, beliefs, drills, procedures, etc., to convert into new high-performance habits and skills = then you will begin to realize that the coaching and mentoring process itself is a true value-added endeavor.
And this is why all high-performance coaching/mentoring relationships demand a fair exchange of values.
The high-performance process, training - and the training mentors/coaches involved will add incredible value to the trainee. And in exchange for the new skills, habits, and competitive successes, the mentors/coaches will receive compensation for their time, endless focus on details and progress, support, etc.
This is a standard business model for all high-performance career pathways. And trading is not any different. The only thing is that in trading - the barrier into entry is set absurdly low. Any trainee can get into the trading process with tremendous lack of skill, funds, conditioning that will lead to 100% failure. Any person can falsely market himself to be a coach/mentor. Any programmer and scammer can easily post videos, robots, etc.
Any retail trader that buys an indicator package, or a trading robot, or a "holy grail trading system" AND uses it only in that isolated narrow scope context (and not in the framework of an overall portfolio and campaign trading strategy) - is destined to fail. This is because the entire domain of long-term consistent winning trading performance requires a much deeper and broader level of conditioning, training, development - by that retail trader. And 99% of the time, that retail trader will "not have the time" or "not be willing to pay $$$" or have numerous other demands/obstacles to prevent the proper course of training/actions. And - that is why < 1% of traders succeed in the long-term!
So - your initial comments above are very helpful from a cautious alert perspective to the newbie.
However - it should be also added that for the truly focused, committed, competitive individual, that seeking out the appropriate high-performance mentors/coaches, high-performance training programs, will never be free. There will always be a fair exchange of value.
Best regards and good trading to you!
WklyOptions
