Trading, investing is "INDIVIDUAL" If you went to a Tiger Woods Golf clinic for 100 grand (there is no such animal) and you were honest with yourself you in your heart would know there is no way you would never be as good as Tiger. Now, enter the world of trading/investing and those fools that go to seminars etc do in fact think they will trade like the person giving the seminar, etc. Newb's are glossed over with how easy trading can be and follow charlatans who see easy money. Find your own way, it is all out there for free. The mkt is always going to be bigger than any signal etc you can throw at it so get off the ego trip and learn what price can do and how you will act when price does what price will do. Anyone thinking the other guy will or should not reveal the "SECRET" of the mkt is a fool and needs to wise up and realize just how big and bad the game is. Welcome one and all, just make sure you bring some cash to the game. ..
I think the answer is pretty simple: It's a great source of additional risk-free income. If I can make say $1MM a year trading my own account and another $100K in giving seminars, why wouldn't I do that?
Thats's the big "IF" , most teachers don't ,can't trade Why bother the 100K when you make 1 million ?
If you want to teach, you don't want to waste your time with pupils who aren't committed. Requiring the money is a form of securing that commitment. That's my conjecture.
Because people can't follow a simple set of intructions. If you tell them the buy point is a trade above 10.10 they will remember that three times ago they missed a breakout, so this time god damn it they are not going to miss it, 9.99 is trading very briskly and they just know its going to go leave the station heading to money with everyone but them on board. They end up buying a stock they never should have been in the first place, which to me would mean just sell it, make 2 cents, lose 2 cents, whatever the case may be, when the case of the crazies wears off the thing to do is get out of the stock. Of course they wont do that, they will look at the chart and put the stop at say $9.20. Then of course as soon as 100 shares goes off at $9.20 they know its going to crater fast so they better get the hell out now. A few more times it trades around $9.20 but thats the bottom. Two days later the stock trades the entry criteria, but they are still pissed off that "that stock burned me two days ago, to hell with it, its a piece of shit" and so they wont touch it. Next thing you know its trading at $15.00 and all they have to show for it is an 80 cent loss. This is basically why in the free mentoring group im going to be giving to some people from ET I have basically asked that the people be at least breakeven, because if you can get to that point you don't have as many bad habits holding you back, and most of the stupid newbie ideas about the markets have been beaten out of you.
Exactly. And that's why lawyers are known to overcharge their clients. They want to make sure their clients really care. It's all very altruistic, I assure you.