85% ???...How about 98% and that might be conservative.... I think it is about time there was a section set up dedicated to exposing all of the "educators' and trading gurus... ET does have some influence in the trading forum arena... Using the vendors' name in the title, the vendors ' name will be highlighted on the Internet under their respective pages... An example...SchoolofTrade -- Schoolof Scam... In these poor economic times there are a lot of people getting fleeced because the vendors seem to have something "easy'' to offer . We know it is the furtherest thing from the truth..... NiN :
Pension_Admin 09-18-09 06:12 PM Qwerty, I already feel that I am in debt to you for your insight from your postings on price action and how you explain it with charts and metaphor--battle between bulls and bears. Your mentorship is much appreciated, but I really would not know how I will be able to repay you for it. PA _____________________________ I believe i see a double standard Pension_Admin, someone speaks bad of mentors and now you suddenly demean their value on a whim when you clearly stated the opposite, how convenient. Ah, but this time it's different, right? well, in case you were born yesterday, let me enlighten you, the meaning of mentor is a person who aids another in achieving a goal, usually older, typically more experienced, who helps and guides another individualâs development. But as is often the case in public forums the definition of a mentor is twisted, diluted or adulterated to tailor the agenda of a person that is typically very dissatisfied or has an intense rebuke as a result of a mentor that took advantage of him/her.
Not to berate someone's trading style but when a trade sets up there is plenty of time to catch it if you are trading for any significant amount of $ move in the stock itself--if you are scalping for pennies then maybe its different.
I think the number is closer to 99.9999999999999999999999% Consider a trading contest (like that one they recently had in forex), only 5% of them made money. Out of the 5%, there will be a large number of traders who average down or just have a temporary "edge". The percentage of people who actually know how to trade would be much less than 5%. It would probably be closer to 1%. Now, within that 1%, I am sure those traders will be very reluctant to teach some strangers how to trade, even if they get compensated for their opportunity cost. Those who figured out how to trade guard their knowledge like a magician guarding the secret of his magic trick. They will never reveal it, because 1) they paid for it with blood and tears, and 2) their current and future survival depends on it. Some might share their temporary "edge" (Like Opening Plays), but you know it's not their bread and butter. Those who truly knows how to trade would start their own hedge funds and train their traders instead. PA
Qwerty, I do appreciate those charts you sent me a few months ago. I appreciate you for never asking for a penny for those charts you sent. I also enjoy all your posting in the archive, which were informative. However, the point I was trying to make is that there are some people who try to take advantage of new traders by charging them a fee for a mentorship program. These new traders believe they are being taught by a successful trader, and they will finally learn how to trade successfully. Unfortunately, all they learn is that the market is full of deceptions. I do appreciate and respect those who mentors other traders for free. Qwerty, thank again for those charts. PA
Ah, ha that's more like it, you make a distinction this time, unlike like those who do not make a distinction when it does not serve their interest, whether a mentor is compensated or not Pension_Admin, a mentor can be immensely beneficial as some have stated repeatedly through out Elite Trader's existence.
Just because a mentor is charging someone or barters his services does not insinuate that a newbie is being taken advantage of Pension_Admin, are we to conclude that a newbie trader for example, that receives guidance for an extended period, meaning months to years is entitled to receive that for free and that his mentor in return is supposed to receive a pat on the back and a thank you from his student only? somehow a newbie is not taking advantage of the situation but the mentor is. oh, poor newbie, he supposed to get a break but not the mentor, clearly a double standard here, that's the conundrum, that is constant, a trader with experience wants to feel that he's being appreciated, because it requires energy, effort and time on his part while the newbie wants things for free, i believe you're living on a different planet Pension_Admin, who in the real world wants to work for free? If a mentor is very competent Pension_Admin, a student will not be filled with deception, you insinuate that all students that paid a mentor are met with deception, that is not true, while the students that do not pay are somehow exempt from deception, your logic is that of a young child Pension_Admin, look around this fine forum and see for yourself how some people speak about their mentors in glowing terms. You yourself spoke about being indebted for the insight i provided you, albeit brief, try to be more even handed Pension_Admin.