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It is said "Those who can, do; those who can't, teach"
Right you claim that there is one or a few that you know but you provide zero proof.
evidence based reasoning demands that we use occam's razor here.
A) We know that most retail traders are not profitable.
B) If someone claims there are a few exceptions that he/she knows about then proof is needed since their statement goes against the empirical probability.
C) If no proof is given after B) is claimed then by logic we must revert to what we already know which is A) and reject B) until evidence of B) is shown.
The numbers tell the story.
Can you help answer these questions from other members on NexusFi?
it's mostly true when it comes to trading with a few notable exceptions:
1) There are some teachers who can teach the following successfully even though they may not be great traders
-Risk Mitigation
-How to obtain more Market Clarity
-How to build a more robust trading process
after you learn this info you will still need to find your own trading setups and strategies but you will perhaps have an easier time doing so.
2) There are 4 retail swing traders with verified 2+ years of profitable trading:
Here is one of them: They won't show you exactly how they trade but they will share some of their trading experience with you.
There has been some good points referanced . I have found helpful concepts inclued in most trading educational courses , software , trade rooms or books . It is likley I have bought or was given more course material than the average student . At one point i had a collection of well over 100 courses and 150 books . After I bought 30,000 in courses and 15,000 on software I quit paying for any and research how to start receiving free stuff . How would you recommened new traders reading this , filter all the endless trader stuff being marketed 24/7 . How many 2000 to 10,000 trading educational programs can they stand . I have been pointing out , its better to start with all the free stuff , be for paying thousands for training material . Some members take this as being to negitive in one way or another . Like you , i found out the trade management and psychology aspects of trading seperate the adults from the children . That area is not covered very well in the educational course material i have reviewed , and for good reason . It is like learning how to shoot on the range , its a lot different when their shooting back and you have been hit bleeding real blood . You have to experance that your self . what is your take on the educational pathway ?
I am still near the start of my journey and maybe should not be drawing any conclusions yet, but that seems very difficult to me. Maybe for three main reasons -
Firstly, it is usually hard to tell without seeing exactly everything someone does why they are really failing, and it may not be the reason they believe or say themselves anyway.
Secondly when you lack experience yourself it is hard to identify what is most relevant and even to identify what information may be missing.
Thirdly, I am pretty sure that to trade profitably you need to get about ten different things right all at the same time, and when you fail, there is nobody standing behind you to tell you which one(s) you got wrong.
You start with a plan. How are you going to make money.Keep it simple. You buy at one price and sell at another. As long as the sell price is higher than the buy price and your commissions don't eat your profits you make money.
Control what you can,basically what you do. (where you buy and sell). The toughest thing is selling because that ends the trade and then the second quessing starts. Did I sell too soon or too late. Focus on did I follow my plan. And of course your plan avoids all the things that traders do that cause failure.
"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
The real problem with learning how to be profitable is that the Market is not static and it is ever changing making it very difficult to nail down a strategy that is more than 60% profitable. Learning trading is almost an oxymoron. it's not like learning how to be a mechanic or lawyer where there are time tested lessons that you can learn and study. The only sure thing I know is that trading will teach you to take losses in stride.
This is a good question by @forgiven, and a hard one.
It's made much harder by the fact that many vendors are not really trying to teach anything, just to collect as much as they can by selling to traders who are too trusting or inexperienced, or desperate, to be able to judge what is genuine. In other words, the question starting this thread, "It is said "Those who can, do; those who can't, teach," is, in many ways, too nice. It's actually a good question, but the fact of the matter is that a large number of supposed teachers are deliberate scammers, who aren't teaching because they don't want to. Scamming is easier and pays well. It's also basically what they know. Trading isn't.
So the first task is to screen out the deliberately predatory fakes. A lot of the posts (and the moderator actions) on the forum are directed to just that.
Then what else to do is still an important and difficult question.
There's another part of this too, also mentioned by @forgiven:
Some things can be taught only by experience; in trading, making and losing money can be more valuable than anyone's teaching, but the lessons are very hard to learn and mostly come from self-reflection and recognizing and correcting one's own mistakes.
So some things that might work could include:
- Figuring out how to tell when something is really too good to be true. Frankly, losing some money on something that doesn't work is one way to do it.
- Trader reviews and discussions.
- Understanding some of the basics, hopefully from low-cost or free materials, since you can't afford everything.
- Trader journals and discussions on this forum. Sometimes you can learn something about technique there, but that is not as worthwhile as just understanding the normal "psychological" issues of all traders, yourself included.
- Putting things to work, making and losing, and learning about them and about your own responses to risk, loss and opportunity.
The last one is the one that counts, and the others only help you with it.
Can it be taught? You can tell people about it, and teach them what you think about it, but no, you can't teach it. You can help them see it and, hopefully, do it.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
