What do you think when you see a famous trader now selling courses & mentorship plans?

Discussion in 'Trading' started by SteveM, Dec 14, 2019.

  1. southall


    Thats probably because the big returns come when you start out in your early years.
    After 30 years of profits you not going to be making triple digit returns anymore. 15% would be good at that stage of your career.
    #31     Dec 14, 2019
    Wide Tailz and guru like this.

    #32     Dec 14, 2019
    guru likes this.
  3. remogul92


    Didn’t Lenny Dykstra try trading options then fell from grace and got into a boatload of trouble afterwards??
    #33     Dec 14, 2019
  4. Linda is no longer a real trader. she posts colorful garbage charts and sells tweets. u doubt she really ever made that much money from trading. any trader who makes money trading would never sell courses. what utter bullshit. she is a sell out and a hack job along with the rest of them. totally desperate.
    #34     Dec 14, 2019
    slvrrisc likes this.
  5. Yes. I was JK about Dykstra/Cramer.
    #35     Dec 15, 2019
  6. tomorton


    I think traders offering training etc. is just them using a relatively easy way to make more money. Its just another form of trading. You can never have too much money.
    #36     Dec 15, 2019
    trader99 likes this.
  7. Pekelo


    1. Selling shovels to miners is more profitable than mining itself. It could be a supplementary income, but most of these old timers have lost their edge.

    2. After all these years we sure should have heard from someone: I was taught by [insert famous person] and now I am profitable and making a living on my own. I am not saying it can not happen, but there should be way many more students out there, compared to all the classes offered. (aka costumers' yachts)
    #37     Dec 15, 2019
    DTB2 likes this.
  8. slvrrisc


    I remember a bit over ten years ago, having seen a site of LBR's where a follow along squawk trading room service or something was offered. There was a transcribed sample where the text was mainly about several entries, a few exits and a whole bunch of stop outs. Sounded like it was a mash of scalping daytrading attempts.

    Larry Connors too. I tried his rsi book and tried his newsletter for a month. What a crock of losing entries. Also endless spam trying to sell expensive use of "the machine" for several thousand. Some crony hirelings/fake wise "gurus" on his site too writing "articles".
    Last edited: Dec 15, 2019
    #38     Dec 15, 2019
  9. Wheezooo


    I was taught, I was profitable, and I made a living on my own.
    I have taught others who have been profitable and have made livings on their own.

    With that said, every one of those people was highly screened, selected among thousands of highly qualified candidates, and most of whom were selected failed. The person I spent the most time with, years of listening to me, watching my every transaction, went out on his own, immediately broke my #1 rule, and only a few months later when a significant event occurred, dropped 50. (which he never should never have had the discretion to trade at those levels in the 1st place, but that's a different story.)

    So anyone that knows what the hell they are doing would never suggest/guarantee they could teach anyone to be profitable, no matter how qualified, and definitely not be able to teach any random schmecklehead that clicks 'Paypal.'

    I would also add, I took about 1,000 hours of direct training and probably another 4-5,000 hours of exposure before ever executing a contract. Offers to teach you to trade in 10-20 hours. Not a chance!
    Last edited: Dec 15, 2019
    #39     Dec 15, 2019
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  10. Pekelo


    But it sounds like you got the education from a friend and you screened your students. So in nether cases was it like a fixed monthly fee and you took anybody who signed up.

    These have been teachers are like that. They take your money, no question asked. They are not your friend, they sell you a dream.
    #40     Dec 15, 2019
    Wheezooo likes this.