Your students should show they can.
Do you think educators that sell training should show proof of profitability?
- Thread starter caacapital
- Start date
Your students should show they can.
It all depends on what sort of trading results they are claiming if any. Extraordinary claims require extraordinary proof as in real money trading statements or 1040s.
Edit. Oddly some of the shadiest and most crooked vendors out there who have never made a penny trading can often offer valuable insights into structuring a trading methodology. But that is the key! You will never make anything blindly following someone else. At some point achieved by very few you have to craft your own personal unique trading methodology based on..................
Edit. Oddly some of the shadiest and most crooked vendors out there who have never made a penny trading can often offer valuable insights into structuring a trading methodology. But that is the key! You will never make anything blindly following someone else. At some point achieved by very few you have to craft your own personal unique trading methodology based on..................
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What about to learn high stakes poker with a mentor don't play that limits? no good
This is not black and white.
On one hand, it is like learning to be a surgeon from someone who hasn't operated in his whole life.
On the other hand, there are some great mentors who are not active traders.
I think the key is being transparent.
If someone claims to make some ridiculous returns in his personal account - then yes, proof is required. If someone admits that he is not actively trading and his performance is based on backtesting or simulated results, it's up to you to decide if that's good enough.
Personally, I still believe that if someone presents a track record and not just teaching "theoretical" strategies, it is reasonable to expect to see some kind of proof that the track record is based in real trades. Unless of course they fully admit that the performance is hypothetical.
Here are 10 Signs Of A Fake Guru.
I would rephrase the thread title to put the focus on personal responsibility instead of making demands of others:
I would not purchase any kind of trading education unless the instructor already had some kind of publicly available record showing his or her profitability in the past.
I would not purchase any kind of trading education unless the instructor already had some kind of publicly available record showing his or her profitability in the past.
L
lovethetrade
Of course they should or show the results of their training. Same applies for any sports coach, it should be a results-driven business.
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Proof of profitability?
What is really required though is regulating damaging financial advice and unsustainable practices, sort of the advices that were given before the 2008 financial crisis.
- last year?
- this year?
- this minute?
- this second?
- What if they're not trading anymore?
- ...following their method?
- ...following an older version of their method?
- ...with flaws or discretion?
- alone or with assistant?
- same market / instruments?
What is really required though is regulating damaging financial advice and unsustainable practices, sort of the advices that were given before the 2008 financial crisis.
I agree: if what's being sold is a strategy with either the express or the implied representation that "it will work for you simply by following the rules", then you need to see independently verifiable results.
I think there are also many vendors of "trading education", of various different kinds, not purporting to sell such "followable strategies" (some of whom even specify openly and in no uncertain terms that that's not what they're selling) to whom this doesn't apply at all.
The only real sign of a successful teacher or guru is the success of his students -- not fake "testimonials" but outside verified success. Of course, it's easy to fake even audited results by running multi accounts & etc.
There are several Wall St. legends who've mentored multiple $100 million plus fund managers who point to the mentors as the reason for their success. That's the real deal.
There are several Wall St. legends who've mentored multiple $100 million plus fund managers who point to the mentors as the reason for their success. That's the real deal.