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People invest in trading education to make money to feed their family. It is ONLY about a trader making money. Noone wants to waste time learning from someone who can not make money trading.
You think my wife wants to hear " hey baby, I just invested $500 in a trading course and I will now spend the next 5 years trying to make money from it", her next question will be "well does the guy who you bought it from make money with it". LOL
Stop the BS man. Al Brooks sales a trading course and he makes no money trading what he is teaching. PERIOD. He should state to this customers before purchasing and he needs to prove with all his broker statements (all years) or connect to https://kinfo.com:443/ and trade real time.
We make too many excuses for these trading educators selling stuff to people. Its 2021, people need to show and prove or stop selling stuff.
If you can not prove it, stop selling. I personally not buying a penny with a hole in it from a trading seller if he/she can not prove it to "my" satisfaction. I am the customer , I ALWAYS come first, the seller come LAST. Anyone buying a trading course from a seller with no hard proof of that seller making money is a fool.
No, I'm not kidding. I'm saying that if you ask for a statement, they can just lie to you and fake it, and you won't be able to tell. I wouldn't take anybody's supposed proof. How do you know that the "proof" is not photoshopped? Youi don't.
You can't get any proof. And in case you didn't notice, I don't think you should buy any of this stuff either. And I will say, "PERIOD" to that.
Don't buy, don't believe unverifiable statements, learn it your own way. How can I make my point more clear than that? Don't put your faith in statements, and don't give these guys your money. Use information and knowledge that is generally available or that doesn't cost you much, and work on the market yourself. Don't believe anyone's claim that they have the best or the only method.
I know that you like the idea of getting statements to prove something. I think you're wrong, because you can't trust the supposed statements that you might get.
I did say that I would accept an audited statement from a nationally known auditing firm, that came directly from them and not from a vendor.... Guess what? You are not getting this, ever. So don't look for a statement to protect you, and don't buy this stuff, with or without statements. A statement is not a solution, because you can't trust what they are giving you, if they give you anything.
That's what I'm saying. Any "statement" that someone gives you is just more advertising copy, not worth the paper it's printed on. Don't rely on it. Why do you think that someone who is dishonest won't fake the statement?
Bob.
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Edit, and to be clear, don't try to learn how to trade from buying somebody's program. You can't. You can do it yourself, sometimes. Maybe you can use someone else's ideas if you work them over and make them your own. But don't ever put your trust in someone else. It's you or nothing.
If it isn't clear what I'm saying, I guess I don't know how to be clear. And statements aren't worth a damn, one way or another.
When one door closes, another opens.
-- Cervantes, Don Quixote
I'm only repeating what I already said which is that if a vendor is NOT producing a statement we can certainly know that he's not making any money from his trading. From what I've learned about Al Brooks there are never any trade calls in his trading room. At best it's vague and after-the-fact.
IF a vendor produces a statement - THEN we can worry about if it's fake or not.
Here's one such vendor. I NEVER paid John Carter any money except for his trading book back in the day which I later sold along with the other 100 books I had bought. Most of them BS. I seem to recall that his book were one of the better ones, though.
As for these results below. Maybe they're fake. Maybe they are the outcome of some lucky trade which is not easily repeated. But if I had to choose between Al and John, I think I'd have to say John.
Personally, I don't believe in buying courses. Never did. Never will.
Great post and I agree with you 1000% on this. It is mandatory for "me" the trading vendor/seller/teacher/whoever want "my" money to provide me exactly what I ask for "me" to feel 1000% confident in using my time and energy and devotion into what they are selling.
Once I get the documents (broker statement, trade log, real time trades, whatever, etc), that I demand, then I make audit and decision to pay them and continue business with them.
Let me decide what is real and fake, and give me what I ask for.
Assuming all vendor broker records fake and not asking for it, is not good business sense and irresponsible of me the trader. I have a trading business to run, just like the trading vendor/seller/teacher/whoever have a trading business to run. You want my money, give me what I ask for. Period.
This the reason why I work alone and keep my money in my pocket. Many sellers I ask this information from do not have.
Good Job from John Carter for providing something. At least its something
What have Al brooks provided. Here you go customers spending 10000 of hours studying his course. LMFAO a 15 second chart trading in SIM. Really, this guy talks alllll this stuff how price is king in his course videos and he trading in SIM. smh. hahahahahahhaah
Mack PAT is another one, he shows his customers no creditability in what he teaches.
A big problem with the entire educational business is that it's so easy for a vendor to sound like he knows something of value. As such it's easy to string a newbie along and by the time he's smart enough to know better he already parted with a lot of his money and time along the way. If the newbie asks critical questions the answer is always that he needs to study more or more screentime.
I was hanging out in a free chatroom back in the day by a certain guru who I actually thought was the exception to these snake oil sellers. I still think he's a genuine guy, but he's certainly no market wizard as far as I can tell. But thinking back on those days he was always kind of vague. Like hinting about having a position. And then more blatant about his exit, i.e., "Scaling out here..." and just implying he had been long/short all along. There were NEVER any clear entries/exits. But he sounded VERY clever and knowledgeable about the market.
Personally, my view is that those who have something of great value won't part with it easy or for money. That's not to say that a guru might not have something to teach.
Just don't expect to become a Market Wizard by studying Al Brooks. After all, there's no proof that he himself is one.
Also, it is one thing to know and understand the markets and to be able to comment on them well -- it is another thing to be able to trade.
They are not even close to being the same, but are often confused.
You can communicate one -- conceptual understanding of markets -- but not, in my view the other. You need to trade, and what you learn in your personal experience will somewhat stay with you and not be that useful to anyone else. So I think that even a sincere and actually accomplished trader can only pass on so much to others. Which may not mean you should not listen to them and learn what you can, and pick up pointers and ideas to try out, but it does mean to not try to follow them. I don't think you can.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Would that convince you if anyone traded live sim, called trades in advance, just a two or three trades a day, entered and exited them with the limit orders and did it consistently each and every day and you could witness it yourself? But no broker statements as it's sim :-)
My educational trading business line item requirements for me to invest in a trade room like you mentioned are this:
1. Detailed trading performance metrics for minium of 1 (more is better) year and 200 trades. Sim or Live Trades. Recent years.
2. Equity curve for minium of 1 year and 200 trades. Sim or Live Trades.
3. Number 1 or 2 must be shown from a trading platform or broker account statement. It's 2021, I don't want to see no spreadsheet.