Bear this in mind before attending 2 to 3 days trading/investing courses that cost thousands of dollars. Even the most expensive Ivy League college degrees don't cost that much when measured on an hourly basis.
Best financial advice I heard regarding trading courses
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This is not always true. Some professors for example, could make a lot more money full time at private institutions. Some people have a passion for teaching. There are also a ton of perks to teaching. Low stress, the amazing feeling of seeing a mentee become successful, talking about what you love (instead of being in an office glued to the screens) with new people etc...
Creating a mentorship program is also entrepreneurial and that comes with it's own perks and challenges.
You also have to think about how much some of these guys are making. Tim Sykes for example (i am not saying his stuff is good) charges 5k a course and claims he has taught over 10k students. How long do you think it would have taken him to make $50 million in a capacity constraint strategy like penny stocks (assuming he is legit)?
Lastly trading, has many risks and some months you might not get paid! That might not be what the 35 year old who has just started a family wants! So he is transferring his risk to his/her "students".
With all that said. 99% of people are scammers BUT there are some exceptional people who will teach you how to fish rather than give you a fish (unfortunately what most people are looking for).
Creating a mentorship program is also entrepreneurial and that comes with it's own perks and challenges.
You also have to think about how much some of these guys are making. Tim Sykes for example (i am not saying his stuff is good) charges 5k a course and claims he has taught over 10k students. How long do you think it would have taken him to make $50 million in a capacity constraint strategy like penny stocks (assuming he is legit)?
Lastly trading, has many risks and some months you might not get paid! That might not be what the 35 year old who has just started a family wants! So he is transferring his risk to his/her "students".
With all that said. 99% of people are scammers BUT there are some exceptional people who will teach you how to fish rather than give you a fish (unfortunately what most people are looking for).
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That tweet goes right along with the video I posted. I think theirs some truth out there, theirs definetly a lot of info out there that has put me in a better direction then when I started.
Edit: of course is this stuff was all free that I’ve used. Problem is people tend to take something more serious if they pay for it.
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Doesn't that validate the OP theory? Capacity constraint strategy taught to public means only a few can benefit. So in the end not worth the course fee.
I would hate to derail some else’s thread, but the absurdity of making 50 million dollars selling penny stock courses has to be reined in. That simply cannot be the case.
Even more ridiculous is the claim made by these financial trainers that they want to give back to society after becoming rich. They claim they want to help other people escape the drudgery of work and make the world a better place through their courses. How can they do that by getting rich at the expense of their students? If they're so kind, they can always contribute to forums like elitetraders free of charge and make quality posts free of charge. Why charge thousands for a few days course? Even the most expensive professors in Ivy League colleges don't charge this kind of exorbitant rates.
Heard this before put in different words, "those who can't, teach". Exactly my suspicion with going to that free one day Online Trading Academy sales pitch. I left without signing up for the paid sessions.
I love to go to those things -- they have the *greatest* cookies.
And it's like a graduate seminar in Fraud. It's like Suckerdom 502 or something. And I get a fresh charge of anger, when I look around the room at all the dupes lined up for the fleecing. I take *ferocious* notes, as if I were setting up to appear as a witness at a coming trial, and I underline and outline how the horrible miss-leads are strung together.
Did I mention the cookies?