Why do they do it?

Masquerade said:
“Wide diversification is only required when investors do not understand what they are doing.”
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I think that depends on what you're investing in.
If you're investing in a portfolio and you split it 50% bonds 50% equities because your fund manager told you so or you buy 15 stocks and buy and hold then fine, it balances your portfolio.

But if you're a trader and the government bans retail trading, bans internet gambling, etc. then you'd do well to have a diversified investment in say a house for rent or maybe an online business for backup income.

I still maintain that teaching trading without qualifications is very close to the mark when it comes to legality, FSA guidelines, etc. It's about as close as you can come to financial advice without actually saying what to buy and sell and most it from guys who never had any financial training/background.
 
It's about as close as you can come to financial advice without actually saying what to buy and sell and most it from guys who never had any financial training/background.
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In my experience, those who do have a background and training are usually no better at giving advice. I am not defending those who purport to offer something that is clearly of no value but gaining training and qualifications is unlikely to make the situation any better in my view.


Paul
 
Trader333 said:
In my experience, those who do have a background and training are usually no better at giving advice. I am not defending those who purport to offer something that is clearly of no value but gaining training and qualifications is unlikely to make the situation any better in my view.


Paul
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perhaps but online trading vendors aren't regulated to the same extent, which allows much more room for conning people.
 
Assume for a moment that the content is legitimate and the promotion is honest. There are several good reasons for teaching when you are already successful at the the practice.

I learned long ago that teaching a subject was a great way to gain greater depth and breadth in understanding a subject. For example, when I obtained my CCW (Concealed Carry Weapons) license, I wanted to learn more about all aspects of the law and the practice. So I took a course to become an NRA Certified Instructor in pistol.

Similarly, when I wanted to learn more about my strategy I began publishing my trading journal on several trading forums. The questions and challenges may have been aggressive and unpleasant, but I learned so much more about my methods than I ever could have in isolation. And I am in a much stronger position to teach it now.

Lastly, some people are natural teachers and they enjoy the process. Having a successful strategy to produce a good income permits them to indulge in teaching it for the pure pleasure. I love teaching and have been told that I am good at it. Will I be good at teaching my methods? We'll see.
 
Must admit, I never thought I'd ever be conversing with a member of the NRA, but just shows how mind-broadening the Internet can be.

HowardCohodas said:
Similarly, when I wanted to learn more about my strategy I began publishing my trading journal on several trading forums. The questions and challenges may have been aggressive and unpleasant, but I learned so much more about my methods than I ever could have in isolation. And I am in a much stronger position to teach it now.
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So teaching others helps one to learn the subject better/deeper/etc; (first part of the paragraph). That's an understandable motive, although not totally unselfish. But the last sentence is begging the question (in the original sense of the phrase (I think)) isn't it?


Why is it that you want to teach it (in addition to learning it better for selfish reasons)? I don't think you have explained that.
Teaching X makes you better at X and therefore a better teacher of X; that's a bit recursive, I suggest.


Lastly, some people are natural teachers and they enjoy the process. Having a successful strategy to produce a good income permits them to indulge in teaching it for the pure pleasure. I love teaching and have been told that I am good at it. Will I be good at teaching my methods? We'll see.
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Enjoying the process is not the same as being a natural teacher, and you need impartial judges of the latter. I hope you have been fortunate in having been judged impartially.
 
HowardCohodas said:
. For example, when I obtained my CCW (Concealed Carry Weapons) license, I wanted to learn more about all aspects of the law and the practice. So I took a course to become an NRA Certified Instructor in pistol.
.
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If you had mistakenly shot the instructor during your NRA course and then got drunk in a bar and lost your gun do you think you'd have passed and went on to be an NRA instructor? Probably not, but if you blow 3 or 4 trading accounts and never make a penny you can still be a Trading instructor and trading guru.
 
pboyles said:
If you had mistakenly shot the instructor during your NRA course and then got drunk in a bar and lost your gun do you think you'd have passed and went on to be an NRA instructor? Probably not, but if you blow 3 or 4 trading accounts and never make a penny you can still be a Trading instructor and trading guru.
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My personality cannot relate to either scenario. I am careful and precise in most things I do. I usually stick to things until I succeed. I cannot envision going forward until I have succeeded at the level I am at.
 
montmorencyt2w said:
Must admit, I never thought I'd ever be conversing with a member of the NRA, but just shows how mind-broadening the Internet can be.

So teaching others helps one to learn the subject better/deeper/etc; (first part of the paragraph). That's an understandable motive, although not totally unselfish. But the last sentence is begging the question (in the original sense of the phrase (I think)) isn't it?

Why is it that you want to teach it (in addition to learning it better for selfish reasons)? I don't think you have explained that.
Teaching X makes you better at X and therefore a better teacher of X; that's a bit recursive, I suggest.

Enjoying the process is not the same as being a natural teacher, and you need impartial judges of the latter. I hope you have been fortunate in having been judged impartially.
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Doing something because it makes you feel good is a selfish act. If it benefits others at the same time, then it is also a good thing. Win/Win.

Enjoying teaching and being good at it in the opinion of those who have gone on to succeed in a subject, feels good to me. Turning down offers from others to manage their money is my practice. I would rather teach them my strategy. It is part of my personality. I'm not trying to qualify it or justify it, it just is what it is.

The rest of your questions are lost on me. Perhaps you could rephrase them?
 
HowardCohodas said:
Turning down offers from others to manage their money is my practice. I would rather teach them my strategy.
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Although I rarely predict, I'll make an exception in your case.......

The fact that you own a gun and know how to use it is going be an extremely useful skill that will benefit you greatly.

:LOL:
 
is there anyone on this forum who has not or does not aspire to become a godforsaken trading teacher?!
:)
 
jetski said:
Here is Dan Murphy reason why he does what he does..

Why am I Running this Service Instead Of Sipping Piña Coladas on a Beach in the Caribbean?

My approach to trading and business is the same: diversification.

I want to diversify into many areas such as running several businesses, real estate, art, rare coins, and trading. I think it's a mistake to focus on one single method for monthly cash flow.

Back in the 1930's, the US government made it illegal to own gold. Yes, that's right. It was illegal to own a naturally occurring element. If I was a gold trader or broker, I would have lost my job and been put out on the street.

Government does some really stupid things, so I want to have many sources of income to enjoy my lifestyle.

I recommend that you have several different income streams. By not doing so, you are putting yourself at risk of financial ruin if things go bad in one industry.

I think they put one of their relatives to work , gives them a job and he gets a cut.
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I agree with him; however in the limit trading and teaching trading are highly correlated as income streams... the diversification ain't there really. The smoothing of income streams is though... I really really want that
 
the hare said:
Yes Me. Interacting with dunces for a pittance isnt really my idea of fun.
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Second this. as i've mentioned umpteen times I tried, once. Not with the aim of taking money for teaching, but with the aim of having ten or twenty traders trading for me and leaving me free to do anything I want.


I'm never ever doing that again.
 
the hare said:
Although I rarely predict, I'll make an exception in your case.......

The fact that you own a gun and know how to use it is going be an extremely useful skill that will benefit you greatly.

:LOL:
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If I never have to defend myself or my loved ones with a firearm, I will be extremely happy.

All I Know About Trading Options said:
Truly superior pilots are those who use their superior judgment to avoid those situations where they might have to use their superior skills.
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