Why do people pay for trading courses/training?

Yeah, why pay for books ? If you can get them for free on online share forums.

 

I believe you have answered your own question. You pay to take a course to gain knowledge you don’t have. Traders are looking for that little something that will take them to the next level. Not unlike the pro golfer who decides to change his swing after being on a winning streak. It is of interest that none of these swing coaches are making money playing golf so it doesn’t necessarily follow that a trading coach/mentor has to be a winning trader.

We are taught that you get what you pay for. We rationalize that a $5000 course will be much superior to a $100 course. Before taking a course we should know what it is we want to learn and ask if that is what they teach.

I’ve used the phrase myself; “I want to take my trading to the next level” Do you know what the next level is? Are you successful at this level?

I think that most have the expectation that if I give this guy some money he will teach me a secret that very few know and I’ll be able to make my money back and then some.

Here’s the secret. Regardless of what method you use to get into a trade you will have winning and losing trades. Cut your losers short and let your winners run.

Developing your own plan and having the discipline to follow it is the most important piece.

This is probably the best training you can get. You learn that you have to take responsibility for you actions.

 

ty deaddog,

I appreciate the wisdom. seriously.

ES

 

they buy courses for the same reason guys buy penis pumps.

 

Personally, I wouldn't. There are tons of forums that offers the same resources. For me, it's just a waste of time and money.

 

To learn everything that does not work, after which you can trade successfully.

 

Let me say, learning on your own is hard work. That said, I find it incredulous that there are snake oil salesmen out there promising to teach you how to trade when they themselves do not trade! How can you teach something you know nothing about? I taught myself everything I know from reading books, studying charts, watching DVDS and even attending free seminars on investors conferences. You get snippets which you have to incorporate in your trading. Risk controls is at the top of the list. Until, I controlled my losses, I never had a chance. Now, I know better.

 

There wouldn't be as many snake oil salesmen if there weren't as many willing victims.