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. FriskyCat


    FTC just busted these guys. I honestly imagined this kind of garbage disappeared back in the early 2000's.
    #61     Feb 15, 2020
  2. ironchef


    I actually also attended their free seminar later and got a free kindle for attending. But I didn't sign up for the paid classes.
    #62     Feb 15, 2020
  3. Pekelo


    One word: steady income

    OK, those are 2 words, but you guys get the point.
    #63     Feb 15, 2020
    FriskyCat likes this.
  4. smallfil


    If he was any good, he would be making hundreds of millions or even billions so, why would he bother selling information or mentoring anyone? Do you see any of those top traders in Market Wizards by Jack Schwager selling anything?
    #64     Feb 15, 2020
  5. smallfil


    You said it perfectly. Just like doctors who treat the symptoms and not the disease. They have every incentive to treat you enough to mask the symptoms but, not the disease. Do this. Ask a doctor if you need vitamins. 99.9% will tell you why? You don't need it but, if you research various illnesses, a lot of it can be traced to vitamin deficiency. Can you imagine a doctor without patients? He will be out of job pronto. Now, a trading guru continues to fluff himself as the next best thing since, the discovery of sliced bread. Take Timothy Sykes, he heavily promotes himself, his books, dvds, seminars and for a couple of thousand, he will teach you what he knows. You might learn a few things that you did not know but, guess what? Those setups he gave you for your monies, you could have gotten off the internet for free? In Wall Street Warriors cable series, a guy interviewed him looking for good hedge fund manager and Timmy had his hedge fund at the time. Timothy did not get the funding. The hedge fund Timothy Sykes ran had $10 million in capital, most of it from one of Timmy's friends. He lost a good amount of it because he did not even have proper risk management and had to close his hedge fund. Now, do you want him as your guru? There are legions of them out there looking to take your monies. Then, you had Option Sellers who were supposed experts? Again, lack of proper risk management imploded that outfit for good.
    #65     Feb 15, 2020
    tomorton likes this.