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There's an OLD adage that states: " Those that Can't/Don't DO..... Teach"
I believe some that those who Teach do so because they make more SELLING than by trading. This 'Education' industry seems quite a bit duplicitous and also UNREGULATED and what you can find on your own w/o paying for it will SAVE you alot of time and Money !(saying so after 10years)
An issue I have is with companies who claim they are making so much money with some indicator but are willing to sell that indicator to you for a few thousand dollars. If the indicator worked like they claimed then why are they marketing it? Those companies are just selling pipe dreams to desperate people.
Absolutely. To me, the principle here is the same as in the "We will pass your funding challenge for you, for $200" offers.
But these so obviously fake, unrealistic advertisements for services/products do find customers, which I think just shows how desperate some of the potential customers are to buy?
I also have issues with people who have their "secrets" to sell you. Whenever someone says they will divulge their "trading secrets" if you pay them for the course reveling those "secrets" you should run away.
From perhaps a different perspective..a few things come to mind.
- trading has numerous prompts to difficulty/failure. Depending on what you know these can be either monumental hardships or simple fixes.
- A coach could have a background in struggle. Hence, one could be motivated outside of money. One could be motivated out of compassion and sympathy for one facing the challenge of the desire to rise from a low place while at present facing meaningful holes in their success and/or trading skill set.
- trading universe is vast. One can share useful, viable, actionable trading methods, market views, execution practices, and self-management techniques with ZERO risk of earning less personally
- With such a background, where success was believed to be attainable but never achieved (when a child - either personally or especially when viewing parent's avoidable failures), there can be significant joy in seeing success happen for others
- clean and pristine performance can be near and dear to a coach. Hence, coaching payoffs can be well outside of money. Lessening another person's burdens, helping someone unlock and function where they would like (or beyond their current beliefs) can be for some an ultimate payoff
- charging money for one's time, attention and personal emotional investment is healthy // charging money also can be key in keeping a struggling person on point
- I agree with one of the posts that mentioned targeting an audience prone to desperation/snap decisions. Undoubtedly, and unfortunately the trade "education" market is littered with predatory whiz-bang carnival barkers. IF IT SOUNDS TOO GOOD TO BE TRUE...UNSUBSCRIBE IMMEDIATELY
- Hopefully it is obvious that those that can do in fact teach
I can tell you from the perspective of one who used to run a trading floor and teach both institutional and retail traders, that it is darn near impossible to trade and teach at the same time. Especially if we are talking active day trading. It seems like it should be no problem at all, but I assure you this: teaching and not trading makes a much better teacher. Trading and not teaching makes a much better trader. In my humble opinion, one must choose to trade or to teach trading if your expectation is to create significant value in either endeavor.
It's so odd to get replies to a comment I made so many years ago, it has been fun catching up on this thread
These are all altruistically motivated. In years past I have been DM'd by people on this site who asked me questions and I replied to almost all of them. I also have DM'd others asking for help on certain things and have been helped in return.
However, I wouldn't categorize any of this on either side as education. These were traders asking each other for help. The primary discussion all those years ago when I started this thread was related to education which was the business itself. Web site, educational materials, live sessions, payment system set up, all of it. That's a business. Which brings me to this salient post:
This is really the heart of it. Trading education is a business, and it is a distraction. If you are comfortably making a lot of money trading, it seems like self-sabotage to create an entirely new business which takes time and attention away from your bread and butter.
However, let's imagine that indeed one got bored, wanted more work during weekends and evenings, and thought they could make money from both trading and education. My question is: have you ever seen an educational person/group provide verified brokerage statements showing profitability? Actually, you can play games with this by having multiple accounts, so the only true way to know income from trading is a tax return.
To me it's very simple: if someone were claiming to be profitable and charging others for guidance which would help them become profitable, wouldn't it be easy to just show this information and to leave no doubt? Wouldn't you just publish your redacted tax return, which would be the best advertisement you could possibly have for your education business?
At this point, I'm not sure I believe that anyone selling anything related to trading actually makes more trading than in the other streams of income. They get popular on YouTube. They get ad income from YT because of that. On top of it, they promote certain brokers, who give them a huge kickback on new accounts.
@mariafp already addressed this pretty well, but just wanted to respond to you directly since you quoted me.
When you age as a trader, you don't lose the ability to click a mouse. Said another way, if you can teach trading, there's nothing physically or mentally preventing you from actually trading.
"Even Tiger Woods has a coach." Have heard this one many times. Again, a trading coach can teach someone what to do and as long as that coach can click a mouse, there are no barriers to him/her actually doing it him/herself. The very act of successfully teaching someone to trade well means the teacher can do it himself, because he's not swinging a golf club. He's executing physically something that literally everyone with functioning motor skills can do: click a mouse.
Steve Jobs was probably a great programmer. But he couldn't clone himself, so he needed others to build a business. In trading, if you want to make more money, you can size up. Jumping from $10M to $100M may be another story as liquidity becomes an issue. But most markets are very liquid, so sizing up usually works pretty well. If it doesn't, well, the last thing you'd want to do is teach others a particular strategy that works in a particular market which isn't sufficiently liquid.
Thank you for your reply, but your comparisons just don't translate very logically to trading. In fact, trading is one of the few fields where your analogies don't hold very well.
