Do I need a License to teach tech analysis ?

P.S. Also, you have to be ready that statistically speaking, most of your friends and their friends will not be able to benefit from your advice, not necessarily because your methodology is poor but because their dedication to trading is not what it should be (although it's also possible your method simply doesn't fit their personality, or that you don't communicate the ideas clearly enough).

A lot of the reasons why people fail is because they blame others instead of working on their own flaws. You don't want a situation where people pay you (or donate money, whatever) and then get upset at you that they can't make any money with what you're teaching them. As you know most people get into trading for the wrong reasons, they dabble with it for six months or so before they see how much work it takes and then they move on.

If I were you I'd throw them a test first and make them do something on the tedious side to prove their dedication, like go through six months of data and label each day a range, trend, reversal day, or something in between. If they can't do stuff like that, I don't see how they have a chance, and you should be clear about that to them. It's like going to a guitar teacher for lessons but not practicing in between.
 
Georgii said:
P.S. Also, you have to be ready that statistically speaking, most of your friends and their friends will not be able to benefit from your advice,
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This is very good advice. Also most of his friends won't be his friends after they try and most likely lose money. Not raining on OP's idea, but business and friendship shouldn't mix...
 
dilbert.jpg
 
What's the critical thing missing from almost every TA book and probably every trading course for sale?

Performance data. Aka evidence that the stuff being taught actually works.

The reason for no performance data: the thicker the book or the longer the trading course, the bigger the price that can be charged. And thick TA books and long trading courses are necessarily filled with lots of worthless techniques that are simply there to add bulk.

If what you're teaching is the worthwhile stuff, then be upfront with performance data, e.g., backtests at a minimum.

That way, when (not if, when) one or more of your friends fail, they have no one to blame but themselves. The performance data shows what they would have done if they did the work.
 
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The Dilbert cartoon above is BS, of course. TA actually works when everyone does it. You see a double bottom? So do others. When everyone acts on it, that is a nice confirmation bias and the prediction becomes reality...
 
Pekelo.. You have missed the point... completely,, as I would expect..
The double bottom, reverse head and shoulders, bull flag, inverted triangle, I could go on for hours,, blah, blah ,blah,, with the countless other chart reading phenomena are all the same as the squirrel on a clowns shoulder.. that is the BS..

you crack me up.. :)
 
Georgii said:
P.S. Also, you have to be ready that statistically speaking, most of your friends and their friends will not be able to benefit from your advice, not necessarily because your methodology is poor but because their dedication to trading is not what it should be (although it's also possible your method simply doesn't fit their personality, or that you don't communicate the ideas clearly enough).

A lot of the reasons why people fail is because they blame others instead of working on their own flaws. You don't want a situation where people pay you (or donate money, whatever) and then get upset at you that they can't make any money with what you're teaching them. As you know most people get into trading for the wrong reasons, they dabble with it for six months or so before they see how much work it takes and then they move on.

If I were you I'd throw them a test first and make them do something on the tedious side to prove their dedication, like go through six months of data and label each day a range, trend, reversal day, or something in between. If they can't do stuff like that, I don't see how they have a chance, and you should be clear about that to them. It's like going to a guitar teacher for lessons but not practicing in between.
More...

It seems that you have made a genuine effort in understanding where I am coming from & have given very thoughtful advice & that is why most people post questions & try to reach out to members on this forum. All they need is one person who would believe in them & guide them & you have done a wonderful job & I am grateful.

I don't have holy grail but I do know that tech analysis works & my knowledge might motivate someone to work at it instead of buying just because a company had good earnings.
 
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