Do trading education scammers (99.99% of the "industry") ever feel guilty?

Meh. I note the recurring "what did you expect you lazy/dumb/greedy bastard?" theme.

It does have merit if we're talking about someone who's been around the "trading scene" and understands "what's up" but not necessarily for newbies that "educators" tend to prey on.

If you go to a bar tending school you expect to be taught bartending. Same with becoming an electrician. Same with ballet dancing, accounting, rock climbing and pretty much anything else!

But if a newb wants to learn how to trade he should expect to get scammed? And even if he does get bit the first time it's actually perfectly reasonable for him to go: "well Jim is a scammer, now I'm going to find someone legit!" and try again. Based on his experience of people actually delivering legit education in virtually any other field it's not that easy for a newb to realize that the whole fucking "trading education" industry is a scam.

I would say it's pretty counter-intuitive actually.
 
That's a good point, but look at it from another perspective:

"traditional education" such as school, university and such produces workforce. There are certain things that need to be done and people get taught how to do them. They get their certificate that proves that they can do it and start grinding away for a salary.


Trading is entrepreneurship. And I bet my ass that there's no course or seminar that promisses a successful company after learning 3 months or even a year. There simply is no "how to" when it comes to inventing and outclassing the competition.

So anybody who believes that he will be "his own boss, financially free" and "working from home" after a 2 week "trading - bootcamp" is a complete idiot, newbie or not.

There is serious and real education out there (mos tof it is free), but because there are no promises attached nobody ever talks about it.
 
pursuit said:
If you go to a bar tending school you expect to be taught bartending. Same with becoming an electrician. Same with ballet dancing, accounting, rock climbing and pretty much anything else!
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It's probably more akin to expecting you can order some online course and in 6 weeks be a surgeon or an engineer.
 
Sig said:
It's probably more akin to expecting you can order some online course and in 6 weeks be a surgeon or an engineer.
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There are plenty of "guys" (I think they're rats actually) who have websites, trading rooms, etc. who claim that you need 10,000 hours of "screentime" to master their awesome method. The only problem? Their method doesn't work, their claims are fake and they don't even trade. So there doesn't have be a "quick" component to the scam's marketing. It can sound quite reasonable to a reasonable person and may very well state that you will need to put in work and time.
 
Some things work for some people and some things don't. There are many factors that determine success or failure in trading. Ultimately it comes down to the trader, his or her effort and disciplines and less so any source material consumed along the way. The screen time is essential for day trading but at the end of the day, one needs to formulate a trade plan unique to the trader. No two people are the same and no two people trade the same.
 
pursuit said:
Some of them are older and their death is not far away. Do thoughts about morality and afterlife (or lack thereof) ever enter their brains? Do they look at themselves in the mirror? Or do they laugh at the suckers? Do they have a conscience?

I wonder how they first got into scamming. Undoubtedly, they tried trading first and failed. Likely got scammed by someone else and then decided that scamming is the name of the game and if they can't beat they should join them?
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I'm convinced that many of these charlatans have personality disorders, meaning they feel no empathy and give zero shits about fleecing the sheeple.

Classic DSM cluster-B traits, in particular as per antisocial and narcissistic personality disorders. See here: https://www.mentalhelp.net/articles/dsm-5-the-ten-personality-disorders-cluster-b/
 
pursuit said:
There are plenty of "guys" (I think they're rats actually) who have websites, trading rooms, etc. who claim that you need 10,000 hours of "screentime" to master their awesome method. The only problem? Their method doesn't work, their claims are fake and they don't even trade. So there doesn't have be a "quick" component to the scam's marketing. It can sound quite reasonable to a reasonable person and may very well state that you will need to put in work and time.
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Have you tried these websites, trading rooms, etc. in view of finding out why they could not make their method work. I did learn quiet a lot from two "educators" that were said to be crooked, by keeping copious notes of why they failed at their trading :
* one simply did not follow his own trading rules. I would just be counting how many times the website owner broke his own rules. I was then interesting to find out why.:):):)
* one his ego was in line at each of his 'public' trade that he often skipped the winners, and stressed like hell to enter a loser :rolleyes::rolleyes::rolleyes:
Pursuit : these educators are actually god sent, if one tries to squeeze as much as possible from why they do not do well in trading.
 
pursuit said:
Some of them are older and their death is not far away. Do thoughts about morality and afterlife (or lack thereof) ever enter their brains? Do they look at themselves in the mirror? Or do they laugh at the suckers? Do they have a conscience?

I wonder how they first got into scamming. Undoubtedly, they tried trading first and failed. Likely got scammed by someone else and then decided that scamming is the name of the game and if they can't beat they should join them?
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Of course not, otherwise they wouldn't do it, everyone subconsciously understands evolution, so their process is to get ahead in their lifetime no matter the cost to anyone else. Some time back I traced the stats for TopStepTrader on ET, 90% failure rate costing a few $thousand and 6-9mths of time. Everyone in the markets know the true failure rate is 99%, so rather than do the smart thing and concentrate on whittling out the 1%, you actually have to be smart and experienced to do that, they concentrate on the other 99%, obscure the facts, take their fees, and roll out the one or two successes as proof due to statistical probability. But it's not just the training companies, everyone is at it, brokers, clearing houses, data providers, analysts. As everyone else is doing it obviously it is acceptable, then when it goes wrong they find a sacrificial lamb and all is good in the world again. Personally find their approach idiotic so just watch the show from a distance, at least you figured it out early, most don't.
 
birzos said:
Of course not, otherwise they wouldn't do it, everyone subconsciously understands evolution, so their process is to get ahead in their lifetime no matter the cost to anyone else. Some time back I traced the stats for TopStepTrader on ET, 90% failure rate costing a few $thousand and 6-9mths of time. Everyone in the markets know the true failure rate is 99%, so rather than do the smart thing and concentrate on whittling out the 1%, you actually have to be smart and experienced to do that, they concentrate on the other 99%, obscure the facts, take their fees, and roll out the one or two successes as proof due to statistical probability. But it's not just the training companies, everyone is at it, brokers, clearing houses, data providers, analysts. As everyone else is doing it obviously it is acceptable, then when it goes wrong they find a sacrificial lamb and all is good in the world again. Personally find their approach idiotic so just watch the show from a distance, at least you figured it out early, most don't.
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finally somebody who gets it
 
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