To BestGuruEver, if you can make money year after year after year up down and sideways markets... are you going to write books, seminars, broadcast online, give interviwes or are you going to trade and make money ?
I think I know what you mean, but I do not agree with your statement as written. Educating others is more fulfilling for certain individuals. That is why some people do it, that is why we have professors who earn less but still prefer to teach. I do however agree that finding a successful trader who is also an educator is rare, and would command a high price tag. Also trading needs someone who is innovative/creative/indenpedent/thinker/inquisitive. The student cannot buy these things. The student either have it or does not. The OP sounds to be lazy/not serious in my view. Lesson number 1 I gave him was the Monkey Problem. It is free. He probably did not even bother to read it. PS: there are many things we do in life that we do not ask a high price for, or do it for free/personalsatisfaction. For instance you are a successful trader, but you post here. Why do you do it? Because you want to give. In eyes of someone else they may say, this person may not be successful otherwise why is he writing on this forum when he could spend his time making money?
The funny part is the youtube "gurus" that don't let you comment on their video: "nice video, how much money have you made in the last few years?" comment deleted, account banned. LOL. Then other "gurus" take off comments because of all the negativity. You can't sell many books when everyone asks if you make money. It's funny, winners at times like to brag, losers always try to change the subject. It burns me to watch guys say "buy, sell..." then the next day, "see how great my call was, you could have made thousands." MADe - OFF then took it to another level. I just want ONE trader to read this and AVOID one online "guru".
Looks like you agree 100%. Teaching economy at school and teaching someone how to make money are two very different things.
I agree, and I did not mean that every professor is able to make money in market (most likely 80% will fail). To learn how to make money multiple factors enter into the equation, including the student, the teacher (as able teacher and trader). A true educator needs to have the ability to build a trading mind. Not every trader can teach. Education has requirements of its own as well. I think we agree. And if the student is good and ready, the teacher will show up. If no human teacher shows up, then there is always Mr. Market (He takes from a man until he learns or his bank account goes dry).
My friend: understand that learning is an unending process. There is always a little gem you will get from someone who is honestly teaching. I however understand if one has limited means, one cannot afford to spend money without immediate return. My suggestion to you is to open a $100 account and trade forex until you burn it. Then repeat. If you reach 10 blowups, and did not learn anything then move to another profession. Most likely you will learn something but you will ask, why someone did not just tell me these easy steps, and I would have paid for it and saved all time and frustration. In hindsight you will realize it, but now you cannot.
The market for the most part is a zero sum game. Any easily implemented elementary way of making money that is publicly availible will instantaneously render itself useless. So when such products or services are found it is not hard to exploit it. The fact that you know what not to waste your time on is a great start. Just don't fall into that trap of devoting all of your time in exposing hypocrisy. Take this little gem of advice and the many more you can get by asking the right questions, just don't expect someone to just hand you a treasure map.
I use to teach in the ninties for a "Profit", but I did it differently. I would put them up for 1-2 months, I taught them how I trade and they would in turn trade an account I set up for them, after an agreed amount was made in my account, they went home. They would trade the nights as I would trade the days. I would only make this offer after extensive dialogs with perspective student. I think 99% of gurus/mentors out there don't trade at all. Whatever one could pay me would not overcome the losses of opportunities not taken cause of you explaining something to someone or taking more of a loss to show why you want to risk two points as opposed to three points. Almost all won't chat during the market hours and if they do, won't make hard calls of trades. Paying Mentors for their services, the education to be learned by the 99% who can't trade will be money just lost. The inexperienced are in a bad way to start, they are willing to believe anything to become wealthy, but most don't understand the commitment to become good. I still take courses and seminars, I know what is good and what is a sham and I refuse to pay for the crap that is there. But if I can just take one idea from it to add to what I do, it is worth it to me even though the creator does not trade. Some people are great at making systems but don't have the nerves to trade. I find the actual trading to be boring, so to have a couple guys to work with during the night/day makes hours goes by easier, and no, not looking to add. They are also obligated to do backtesting for me. I am asked why go thru all the bs of helping others for no fee, it is either in your blood or it is not, I am compassionate of the craft I have learned. It is not like you are going to learn in a weekend, it takes at least a year of a commitment on both sides especially doing miles apart. Many post to just take a year and watch Price Action and you will learn, I don't have those same beliefs, you still have to read a great deal and test test test.