You can only shorten the learning curve, which sometimes enables failure to be circumvented. In other words you can help a trader become a trader but you cant create one where the potential didnt already exist in the first place. -"Swift instinct leaps; slow reason feebly climbs"
Absolutey, if a person doesn't have the mindset of a trader he'll never be good, no matter how much you work with them.
When you say if a person doesnt have the right mind set of a trader he'll never be good,how would you describe the right mindset
That's a hard one to explain. But I'll try. A trader needs to be able to put in as much work as possible to get a feel for the markets. He has to be able to deduce why a stock and the market are doing what they're doing with a reasonable explanation. They have to be willing to put in the long hours to study eveything they can get their hands on. Basically, a trader who's looking for a shortcut, will most likely FAIL!!!
Just like learning anything else, ideally you want someone with plenty of experience, AND someone who can explain things clearly. If you can find that in one package, that's the optimum situation. I'm sure there are great traders out there who aren't great teachers, and some so-so traders who are good teachers. So what are you going to do? As far as traders not wanting to teach their best stuff because they're creating potential competition for themselves, consider this: I know a CTA who runs a room and gives live alerts and setups on the S&P and Naz futures, as well as the occasional stock. The stuff is pretty darn accurate, yet this person tells me the actual trading results of the people in the room are all over the place -- even though they all get the exact same information at the exact same time! If you had the Holy Grail system, and taught it to people, few would be able to implement it to its fullest. They'd try and 'tweak' it and make their own rules. Bottom line: traders shouldn't worry about teaching other traders -- chances are they either won't get it or they'll change your methodology all around anyway. The possible side benefit to teaching: it can potentially help your own trading. Brice
LOLOLOL At least we had a great laugh, haha. Teaching and trading are just mutually exclusive, either you got it, or you don't. And the teachers generally don't, that's why they've got to engage in activities outside of trading that'll ensure that they can somehow at least earn a dismal lifestyle selling their crap to unassuming newbies, and not have to go flip burgers at McDonalds.
How wrong!!! I teach, and I trade. I make an awesome living trading, I don't need to teach. But I know how frustrating it can be to get into this business and struggle. I struggled, until someone helped me put the pieces of the puzzle together. In fact I almost left the business, how sad would that have been, now that I know I had what it took to become a successful trader, I just needed some guidance. I teach them everything I know, and I show them my trades so they can get into my head. I've trained over 15 people since I started training, and I still continue to trade for a living. You can't be a good trainer, unless your trading and making money with what your teaching.
I am interested out of the 15 people you have taught are the 15 now Trading Consistantly and has teaching other people made you a better Trader.
I have yet to see a single "Trainer" be able to come up with audited proof that they have ever managed to earn one Dollar more than they lost, Haha. And, particularly, be able to earn a livelihood worth the effort.