I don't think you are going to like the answer and I think it better to keep quiet , it should remain hidden under the carpet.It will upset many scammers and their accomplices , that hang around forums.
May I ask , what was he selling technically? Was he selling a particular approach to trading? On what basis did you come to the conclusion that it would harm buyer on the long run?
Simple trend trading using moving averages and indicators , his specific method .All these don't work , market is too efficient , as MR TREND TRADER himseld discovered , when the orignal Mr Turtle lost money and blew plenty of it.
So to understand : the educator sold a rules based trading approach based on moving averages and indicators. There could have been various reasons for it not to work : * the method was flawed * the trader does not really know how to trade the method * the trader does not know how to trade In your view, the reason it did not work, was because the method was flawed. If that is right, what have been the consequences for the buyer?
The method is flawed because market ranges 80% of the time , everytime the trend broke out ...it immediately failed and reversed.He was selling a method , but he was not selling a profitable method. Trading is zero sum game https://www.elitetrader.com/et/thre...al-and-possible-for-succesful-trading.304404/
To know if the method is really profitable, the seller should may be have searched for a good trader to trade the method first. As, into the hands of a good trader, the method does not matter; if the good trader could not be profitable, then obviously the problem came from the method. May I ask, how many hours did you manually trade this method on a demo? Did you attempted to trade this method with real money: did you lose much?
Narcissism covers a wide spectrum of behaviours. I dont mind admitting that I have some narcissitic traits, personally I believe narcissistic behaviour is much more prevalent than the experts tell us and its on the rise. Some of the nuances of narcissism can help the trader but many of them definitely hinder, it's not cut and dry imo. This is going to sound really bad but I do enjoy watching some people lose. Not to the extent that they suffer from it. When I worked alongside other traders I would derive extra internal pleasure knowing that others lost when I banked compared to a scenario where everyone banked. The flip side was also true. If I lost and others won this would cause me more pain than if the majority lost money. This trait can be unpleasant and overspill into non trading activities. For example I would also gain pleasure from gaming a non trading system where collectively other people lost - gaming rail ticketing systems for example. The obsessive need for competition can be really annoying, I am really jealous of people who can get endless pleasure from inane tasks or activities. Trading above all else imo is a competition and many traders fail to grasp this. We are living in an age of entitlement and inclusiveness where under achievement is rewarded by the state machine. Our grandparents did not come home from school with a sticker saying 'well done you ate all your lunch'. Back then you couldnt do a degree in 'micro brewing' and bad behaviour had consequences.
This is a very interesting thread. I recently got tested with my psychologist, the MCMI-IV Multiaxial Personality Inventory test. This test, tests many many different disorders, such as people who are depressed, anxious, schizoid, narcissists, sadists, turbulent personality, melancholic, and some other words that I never knew existed in the english language. I don't have narcissistic personality disorder, but it did say that I have narcissistic tendencies. For each personality disorder, there were 3 categories in the range. 1) Likely to not have disorder, 2) May have disorder or tendencies, 3) Likely to have disorder. I was all the way up in category one, just a tiny bit shy from 2. So I probably do have some tendencies. I think this industry attracts narcissists. But when you read about or look at some famous traders/investors, a lot of them tend to be humble from what I've observed. It's probably better to be humble so that you can step out of yourself and observe with a third person view so that you don't get entangled in your narcissism. And this isn't to say being a narcissist will prevent you from being successful. As you are probably aware, there are many many successful people who are narcissistic, but I am of the opinion that it'd probably be better not to be.