Trading Schools are a waste of $$$$

Discussion in 'Trading' started by pokertrader1, Nov 26, 2002.

  1. anybody who would pay $3,000 to learn how to operate a direct access brokerage account or pay $1,500 for a course on Tech. Analysis is crazy. This is what MarketWise Trading School charges, what a joke!! Listen folks, those who can trade do trade, those who can't trade teach!! Simple as that!! Why would somebody so great at trading waste his time teaching people for a few grand? Experience is the best teacher...start very small and work your way up. People cannot teach you how to trade, it is something you must adapt to your personality.
  2. You are totally correct....for yourself. Please avoid speaking for the rest of the universe. I couldn't teach myself, I paid someone, and now; lo and behold, I make money. Virtually everyday. With little to no risk. And I'm not stressed out of my mind doing it.
  3. prox


    Some classes can actually be worthwhile, but nearly everything can be found in 3 or 4 books totalling $100-200.
  4. This is only partly true. A good trainer can shave off months (or possibly years) off of your learning curve. In the long run, experience is the best teacher but people with good training have a much better head start. The good trainers are the ones that actively trade, are consistently profitable, and have a vested interest in your success. These people are hiring for their respective trading groups. They make overrides off of your commissions and P&L. The ones who spend all their time teaching and collecting fees from classes aren't really interested in your long-term success and are most likely not good traders (in today's market).
  5. That's an interesting topic. I wonder though, maybe there's another factor to consider. Take Mark Cook for example, he has
    a proven track record and was already wealthy before he started
    teaching and doing seminars. Maybe it's an ego trip. Maybe he gets a thrill out of people wanting his autograph and listening
    attentively when he speaks. You know what I'm saying?
  6. Yes and no. I paid one well known guru $2,500 and promptly blew out my account. I then paid someone else and am doing quite nicely thank you.
  7. There is your misstep.....believing in trading gurus.....every trader gets hot once in awhile, this does not make him a guru....the true trading "gurus" don't share their trading methods, why should they. If I was a brilliant trader making a million a year trading, why would I sell my secrets to someone for 2 thousand dollars? I certainly don't need the money, and I really don't want the general public to apply my method, because that would cause it to eventually not work. But if I am a STRUGGLING trader, I need to get 20 fools to pay me 2k each to suppliment my income by "teaching". Think about it.....
  8. tampa


    What you fail to understand is that if you were pulling in the big bucks you wouldn't have any secrets. Only people who have yet to learn how to trade think that there is a secret to it - the longer you dwell on looking for what isn't there, the longer it will take to learn...
  9. cheeks


    Tiger Woods has a swing coach. To my knowledge his coach, Butch Harmon, was never a pro.

    I don't think you have to be a great trader, to be able to teach others how to trade. especially the mechanics of trading.
  10. Good point, which is exactly why paying somebody to teach you makes no sense. There are no secrets....
    #10     Nov 26, 2002