Since there are so many courses promising how to trade and charging newbies a lot of money, how does one build a business that's based on honesty and fairness, yet still makes money. As a trader of 25 years, I had seen thousands of traders get ripped off with trading courses, videos and etc. Do you guys have any suggestions.
It's actually really easy. Just demonstrate that you know what you're talking about by producing broker statements and tax returns upon request that show you trade profitably over the past few years using your methods. That's it. It sounds simple but very few educators do it because they either don't make money from trading or they don't even trade at all.
Yes. Figure out what you want for your training. Lets say it is 500.00. Then offer it to the client free to try out with the condition they pay you 600.00 when and only they make their first 600.00 using the system. Give them 1 year to make the first 600.00. If for some reason they can’t within a year after trying it and want another year before paying then they pay you not 600.00 but 1300.00 when they FIRST make 1300.00 in that second year. If they don’t make 600.00 or 1300.00 within the 1 year or two years, or they lose money, then they owe you nothing. In other words, YOU will trust them to be honest. This way you are also not claiming anything about the system...promising anything about it nor showing any proof of any sort to them making any kind of claim. You are basically giving them a system you believe will work if they can apply it correctly and aren’t asking for any money unless they are able to make it work for themselves. Who could possibly gripe about that? Or want to sue about that? The monkey is on their back and you trust them to do what is right and pay you but only IF it works for them. Otherwise, they owe you nothing.
Live trading is the best way and as Baron said tax returns and broker statements. To much time will have to be dedicated to do a useful program in my opinion each trader will need individual mentoring. The live trading will need to be talked through taking time away from your actual trading then you will have some that just want to follow your trades. price is also a barrier
Price is not a barrier if you do it the way I said. That barrier has been removed. As far as mentoring goes I would develop up a website with Q&A as the need arises, and traders who are using the system ask such questions. Make this available for free to all who get the trading system. That way you aren’t spending time mentoring via phone..or chat..They can go to this and see if their question is answered already. If not, they can submit the question to you for answering and it would afterwords be added to the site too.
How does one build an educational trading business With a bit of video editing any scammer can make themselves look like they are living the dream. This video is a perfect example on just how easy it is. The more naive/gullible aspiring traders are seduced by the bling when they should be looking under the hood.
trade other people's money. all professionals make money trading other people's money. managing other people's money for a fee. most of the customers are seniors who learn to trade as hobby in their retirement. trade your own money or trade other people's money. that is how you make money from the 'market' trading and finance books don't sell and no market for it. same with educational course. the market is very small. 300 million americans and less than 500 people here at this website. nobody here will pay you for your education. there is no market or the market is too small. trading education is 'niche' business. it's like teaching kids how to paint and draw. students they don't pay as they can get the education for free in the library and internet.