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

[pursuit]

As a teacher, I can tell you that 50 people can take exactly the same class, and one of them will become a successful trader, while the other 49 fail. It's not about the content of the class; it's about the mindset of the student. Most people won't ever be successful traders, no matter how long they study. Sorry, that's the truth of it.

LOL. Good one. So if you teach some bullshit with no edge then somehow that's valuable to your students?

 

[pursuit]

O this is a good one.

I spent $5k few years ago on options trading mentoring. It was among the best investments I have ever made.

Because you learned you can be a mentor and people will give you money too?

They trade and teach at the same time - there is no contradiction.

O yes there is. Retail traders are generally unable to pay a profitable trader enough to disclose his edge. So you get the supply side which is 95-99% rat scammers.

Just ask them for a proof that they actually trade and are successful, and not just teach. Pretty easy.

Sounds good. Let's see your audited statements.

So to answer your original question - no, I don't feel guilty, I actually feel very fortunate that I was able to help thousands of people to become better traders.

Are you really that thick? If you're not a scammer then the question doesn't apply to you.

I guess I can ask you the same question - do you feel guilty after wishing death to so many people you don't even know?

No, not at all. I hope all scamming rats die a miserable death. And I wonder why you seem to have assumed the thread's question applies to you. Kind of telling isn't it?

 

[bone]

Not sure if that was meant as hyperbole, but if a teacher/mentor proclaims 49 out of 50 clients as "failures" then IMHO that's really screwby.

And again, hyperbole withstanding blaming the clients for that kind of outcome seems perverse to me.

Just my own 2 cents.

 

[themickey]

The more successful you are, the more you want success for others.

Yes and no.
Because trading is such an individual life style, it really is all about every man for himself.
I can't mentor others as I have discovered no one is interested. Everyone wants to do their own thing, their own style so for the most part I keep most trading stuff to myself. Besides, my trading is my investment of blood swest and tears, everyone has to pay a price, I would be a fool to give away for free my jewellery.
Yes, I wish others to succeed and will give a leg up to those who deserve it because you can see they are putting in their own effort.
However these days we are seeing a proliferation of scammers and fake news, also exploitation between the haves and have nots, I like to see more people succeed with integity and less with materialism.

 

[pursuit]

Didn't have to assume. It's in the title of the thread (99.99% of the industry).

Nonsense. You can dispute the % but the question of the thread is clearly addressed to scammers. Yet you chose to answer it. Hmmmm.

I know that few bad apples make a bad name to the whole industry.

Few bad apples? Few? You can't be taken seriously after making this statement. Scammers are 95%-99.99% of the "industry". Your inadequate reaction to this thread and shilling for "the industry" makes me strongly suspect you're a scammer yourself.

P.S. Where are the audited statements? You said it's easy to ask. I asked. Let's see them!

 

[tommcginnis]

Great thread -- sorry I missed it.

Pursuit, I have worn out my finger with hitting Like on your posts. That's a first for me.

But here's where I'll generate flames from some:
I love teaching. I have taught Backpacking ("Long distance -- not this 40lb Weekend Warrior REI catalog shit), Motorcycling (MSF #85457, circa 1987), 8 different math courses, 10 different econ courses, 3 political science courses...... I have also taught people to trade -- a small number -- half a dozen? Teaching is awesome -- even Youth Soccer, fercrisakes. If I could afford to, I would teach for free -- and in fact have done so -- including trading. It's called Giving Back. So, a hardy to those who berate or belittle teachers.

But as for the scammers/fraudsters, I am entirely with Pursuit: they should all be shot -- and with *slow* bullets, just cuz it'll hurt more.

If you misrepresent your own experience, or purposefully present fictional material as grounded and rigorously tested, you are a liar and a cheat and a thief, and deserve to be punished as each a liar and a cheat and a thief, separably and cumulatively.

 

[keen3312]

https://www.tradingschools.org/

 

[pursuit]

Just ask them for a proof that they actually trade and are successful, and not just teach. Pretty easy.

I asked you for statements and now you say this: "P.S. I am not a hedge fund and don't need to provide audited statements."

So apparently, it's not "pretty easy", is it?

My problem with your statement is that you put everyone in the same basket, and assume that basically everyone (this is a meaning of 99.99%) who is offering trading education is a scammer.

The range of 95%-99.99% is pretty solid. Officially scientific? No, but empirically solid. People like tradingschools.org and others have spent countless hours of their lives monitoring "trading rooms" and such and the % of fraud they find is in that range. It also makes sense theoretically.

So it's not my fault your "industry" is a cesspool. That's the industry you choose to be in.

 

[Kim Klaiman]

I asked you for statements and now you say this: "P.S. I am not a hedge fund and don't need to provide audited statements."

So apparently, it's not "pretty easy", is it?

The range of 95%-99.99% is pretty solid. Officially scientific? No, but empirically solid. People like tradingschools.org and others have spent countless hours of their lives monitoring "trading rooms" and such and the % of fraud they find is in that range. It also makes sense theoretically.

So it's not my fault your "industry" is a cesspool. That's the industry you choose to be in.

It is easy to see who is a real trader and who is not. When someone is sharing hos trades in real time, with screenshots, as I do, any reasonable person can see that I'm a real trader. In my case, in addition to the performance page, you can also see My 2015 Personal Account Return: 80.2%. It is not audited and you will probably say it is fake, but it is what it is. We have hundreds of happy members, and I assume they would not stay if there was no value.

Again, I'm not defending the industry - it is mostly corrupted with a lot of crooks and scammers. We don't really disagree here. I'm just saying that there are still decent and honest providers. And since you mentioned tradingschools.org - yes, they are doing an excellent job in exposing scammers.

You hate all education providers and your basic assumption is that whoever cannot trade goes to teach and take your money with no intention to give you anything of value. This is simply not true.

 

[pursuit]

It is easy to see who is a real trader and who is not. In my case, in addition to the performance page, you can also see My 2015 Personal Account Return: 80.2%. It is not audited and you will probably say it is fake, but it is what it is.

Yeah, because scammers never put false returns on their websites. Why isn't yours audited? Audited statements is the ONLY way to see who is a real trader. It's super sad to see a vendor say that it's "very easy" to see if someone is a real trader and then refuse to provide audited statements for his own trading. It would be funny if it wasn't so sad.

Again, I'm not defending the industry - it is mostly corrupted with a lot of crooks and scammers. We don't really disagree here.

I agree that you don't have a substantial point.

And since you mentioned tradingschools.org - yes, they are doing an excellent job in exposing scammers. But just a quick look at their first page shows 9 four or five star reviews out of 34. That's around 73% scammers, which I think is more realistic than 95%+.

You're doing it wrong. Divide 4+ star reviews by all reviews on the site instead of just looking at the first page. By the way 73% is still a fucking cesspool.

You hate all education providers and your basic assumption is that whoever cannot trade goes to teach and take your money with no intention to give you anything of value. This is simply not true.

Nope, you're putting words in my mouth. I only hate scammers. And scammers are the norm rather than the exception in your industry. And yes, usually the scammer tried trading at some point, failed and then found "the real way" to make money.