Learning to trade
I wish Darren Winters/"Win Investments" or whatever would stop sending me emails inviting me to his latest seminars..........
Important lessons that I have took on board since day one is that when it comes to trading - "there is no holy grail." as there are many ways and combinations of ways to profit from trading - not one magic formula.
Also, trading is not rocket science afterall. However, there is a lot to learn and a lot of information, ideas and concepts to digest. This is where I think the guru's try to prey on the newcomers to trading. They try and fool them into belieiving that they can offer them a short cut to where they want to be - the position of a successful trader............
This is all very well - I could show my mum a chart and explain to her what she needs to do to be a successful trader - within one day - "When the price crosses above the blue line then buy" etc. etc. and she may be able to make money by strictly following these very simple rules. But it wouldn't mean the first thing to her and she would not know why she was making money and thus probably would have very little feeling of security or control in what she was doing....................Or like my driving instructor claimed to me.....he could take somebody who had not driven before - and give them all that they need to pass the driving test - within a week on a one week course. However, they would have taken a big short-cut and would probably not be as competent as the driver who had been having lessons over a longer period of time, learning the finer details of driving - with time inbetween lessons that enabled them to reflect over and internalise what they had learnt............
For me, this is why I believe it is important to spend time to follow the learning curve in your own time and at your own pace - letting it take you down all the paths and avenues along the way - that further your knowledge and understanding..................For me it is better to reach a destination and know how I got there - and be able to trace my way back - than to arrive at a destination and not really understand how I reached it - as I will feel more prepared................
If you look at any chart on any timeframe with a selection of indicators - it is clear that any given technical analysis setting will work some of the time - but not all of the time. Furthermore, any given technical analysis setting does need need to work all of the time because losing trades are a big part of being a winning trader.
I have not been to such a seminar, For such "guru's" to suggest that they are able to teach you superior ways of profiting from financial markets, or some strategy or combination of indicators that nobody else has thought of - or used together - is a complete con in my opinion.
As others have stated on various threads - the types of information that such gurus tend to give out is often very basic in nature and freely available elsewhere - and not cutting edge in any sense.
If such gurus are so good at trading then why are they not trading full-time? Or perhaps they have made their fortune from trading full-time and feel that they have a duty to pass on this knowledge to others out of the goodness of their own hearts? - if this is the case - then why don't they do it for a fraction of the price?
Cheers
jtrader.
