Maybe the whole coaching thing is BS.. and maybe not... This thread alone won t make a case for either but let s try to keep as close to original topic as possible... Have never myself paid for any mentor/trading room/coach, but conceptually the coach is the one that most seem to make sense to me... So am here to discuss abt failed coaching attempts and/or successful ones. I don t think there is anything wrong with trying to get help from more experienced people. FPA has some great reviews to avoid pure scams, the rest (below scam level) is subjective...
For those of us in the market it's very clear who knows their stuff from experience and those who are just parroting.
I think its great if your coach/mentor but only if he /she is a proven success in the markets. My friend JA has written an excellent piece on how to find a real mentor/coach. The article makes it very clear to avoid the ET type "teachers" and how to identify the frauds, cranks and charlatans. He and I have had several of the same mentors, so the guy writes from experience. http://jamesaltucher.tumblr.com/post/121282281749/the-ultimate-guide-to-finding-a-mentor surf
Yes--Agreed. It's very easy to tell the pretenders from the real folks. There's a mentor here at ET who never shows any real time trades and shows everything in hindsight presumably to keep actual results in the dark or more likely, that there is no actual trading. My perception is that if the results were shown, that the mentor would be exposed as an unsuccessful or non-trader--Don't know--never seen any results.
Hypothetical examples of BS coaching vs. productive coaching: 1) Client: "Dear Mr. Coach, I want to live high but don't know how to trade profitably". Coach: "Oh yes, you are lucky to find me! Now with the cutting edge mind-hacking technique I'll turn you into a super trader. All for just $500!" 2) Client: "I am a pro trader for past 10 years, I am licensed, consistent and have audited track record. But I got caught in a flash crash badly and now can't cope with consequences of this trauma despite fully understanding chance of repeating that is miniscule and despite the fact I took all the measures necessary to avoid it in the future. Fear simply paralizes me". Coach: "We can work on that fear you have, it will take time but I have successful "track record" of helping people curb their post-traumatic syndrome. We can start.... hmm, the closest time window is in two days 2:00PM, is that OK"? You decide which is BS and which is not.
Yeah I get the idea (I believe, even before your post Cornix ). Now question is: how do you find them? (through recommendation was my guess..) Also I would tend to think that most "BS coaches" are more skilled at hiding the BS than what you suggest... LoL