Do I need a License to teach tech analysis ?

[Georgii]

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.

Before you go ahead and do this I'd really ask myself carefully what you want to get out of it yourself personally.

Helping is great, but as I said before, you have to be really sure your help is going to benefit whomever it is intended for. The sad truth is that most people should not be trading, period. Maybe one way you can help them is to help them figure that out

I once got a group of friends together who were interested in trading. My main motivation was to have fun, so I could talk shop with people that I'm friends with already, and so I could better assimilate the material I was learning. What became painfully obvious after a short time is nobody was willing to invest the appropriate effort. One person opened an account, immediately had some success, and then thought he was the smart guy. He blew out his account two months later (fortunately it was an FX micro account so the damage was minimal). It's sort of like watching Survivor, you see everyone drop out one by one until you're left with maybe one person.

Things like that can work as long as you warn everyone in advance what is most likely to happen, and that to succeed you need to work your tail off. The way I did it was I said that if you guys don't find it working for you, no hard feelings, it's just an experience for you and for me as well. As a result everything was peachy when it inevitably fell apart.

If your main goal is to make money for your charity, you then have to work hard on putting together a good competitive educational program and marketing it. At this point you're running your own business, and people will have expectations from you. As you know it's a sleazy business, many people simply go for high turnover and resort to hard sales tactics: "These seats are going to be gone in just a few days if you don't apply now" (my favorite part is 'apply' . Keep in mind this will also distract you heavily from your trading, because not only are you teaching but you're also marketing.

So I think some soul searching is in order, and having realistic expectations is key.

 

[PlinytheTrader]

Sergio., this is great stuff.. I actually sent an e-mail to these guys..
and it reads as follows..

http://www.priceactionlab.com/Blog/2015/02/the-bactrian-camel-pattern-a-significant-discovery/

Hilarious..

I can only assume you are being facetious and satirical about chart reading and the BS currently being sold to the trading community.
Great job and Very Funny.. keep up the jokes and satire..

Rick

Are they serious? I'm not so sure after reading things like this...

"must be included in the 1,527th edition of the “Book of Patterns” that has made millions of retail traders rich in the last year only."

Either way great entertainment.

 

[Michael.jstocks]

No licence required. Nothing at all required in fact!

A few years ago, a known scammer who goes by the name Davie Robertson (among lots of other names) posted on trade2win basically bragging about how much money he was making by selling his courses/books/chatrooms/access to his private blogs etc etc.
He'd charge thousands of people and when he eventually blew up (Well, it was actually his followers blew up as I doubt he was actually taking his calls!) he'd just change his 'alias' and open up loads of new sites/chatooms with new 'courses' and start all over again!

He posted screenshots showing tens and tens of thousands of pounds profit going into his amazon and paypal account from customers buying his courses/memberships etc. It seems like easy money.

The genuine consensus on trade2win after seeing this (I believe the thread in question has been removed) was ''If I fail to make consistent profits in trading by the end of the year and am still losing, I'm gonna get into the coaching/teaching side of the trading world instead''

Not sure That way of thinking would be such a possibility in other industries! lol

 

[marketsurfer]

 

[viktor_k67]

Hi,

Some of my friends have expressed their desire to learn technical analysis as well as a system that I am using. In return they might donate some amount of money If they feel that they have learned something that valuable & might be useful.

Some of them are my friend's friend & thus strangers to me.

I would be grateful for any advice.

Thanks
Jeffrey

You do not need a licence to teach technical analysis as long as you teach only. You need a licence only when you buy/sell stocks on behalf of somebody (broker) or provide professional advice what to buy and what to sell (professional advisers).

If you want to charge people and rent some space you may need just a business licence. On the other hand while you deal with your friends you can wait with it.

However, it could be highly recommended to have disclosure statement (waiver) signed by all your friends and or any other people you teach. This statement should have fully disclosed risk, no guarantee and responsibility waver...

You also have to understand that your friends could become your enemies if they start to lose money...