should trading education be fee based?
education provided
- Thread starter ultimatesuccess01
- Start date
no a trader does not have time or need the money.... if he is profitable
ultimatesuccess01,
You ask a great question.
IMO, there is nothing wrong with paying for trading education .
The upmost important question is : How do you know the education you are getting is quality and confirmed and inspected audited profitable results from the teacher?
The education may send you down a years of inconsistent profitable results and damage you mentally, damage your life and damage your time commitment. And hurt your money.
It really depends on the type of education you are getting and what you want. Do you want general ways to trade or a concrete profitable trading method?
i have mixed feelings about it because i have had mentors that were not profitable traders and mentors that were profitable traders. even on this forum of fake people i get ideas that are good and can be expanded on. i think it's up to each person to filter their own information based on their needs and desires.
actually filtering your own information is essential to trading.
i saw a fire burning, i chose not to wait for the lab report before i decided it may hurt me to stick my hand in it. people in the old days had some common sense and took personal responsibility for decisions. now days everyone wants a sure deal and they don't pay well the markets reward those who take risk.
embracing vs avoiding risk:
it is for this reason that option sellers make billions and option buyers make a few hundred if their lucky.
actually filtering your own information is essential to trading.
i saw a fire burning, i chose not to wait for the lab report before i decided it may hurt me to stick my hand in it. people in the old days had some common sense and took personal responsibility for decisions. now days everyone wants a sure deal and they don't pay well the markets reward those who take risk.
embracing vs avoiding risk:
it is for this reason that option sellers make billions and option buyers make a few hundred if their lucky.
There are such things as bad students. In any sample of students (of any class at all, not just trading), a few will be good, a few will be bad, most will be so-so. Some people won't pay full attention or give full effort etc. and will blame the instructor, we've all seen this before.
Next, especially in regards to something that involves abstract problem solving, the percentage of bad students will increase as the difficulty level of the content increases. People will burn out, get weeded out, get exposed, etc. etc. etc.
Next, You're talking about a course that has no barriers to entry except money. Do these people have to pass a test first before they will be accepted? Do these people have to take some kind of prerequisite course? Do they have to have a specific set of skills that must be demonstrated in some way first? Do they have to have certain kinds of backgrounds? Do they have to have certain kinds of job experience?
There is virtually no embedded selection bias that would contribute to a higher overall "success rate" for the graduated students.
Given these dynamics, as a business, how do you make the most possible money from teaching courses?
Charge a flat fee to anybody who will pay.
Next, especially in regards to something that involves abstract problem solving, the percentage of bad students will increase as the difficulty level of the content increases. People will burn out, get weeded out, get exposed, etc. etc. etc.
Next, You're talking about a course that has no barriers to entry except money. Do these people have to pass a test first before they will be accepted? Do these people have to take some kind of prerequisite course? Do they have to have a specific set of skills that must be demonstrated in some way first? Do they have to have certain kinds of backgrounds? Do they have to have certain kinds of job experience?
There is virtually no embedded selection bias that would contribute to a higher overall "success rate" for the graduated students.
Given these dynamics, as a business, how do you make the most possible money from teaching courses?
Charge a flat fee to anybody who will pay.
Elaborate. Do you mean should you charge money for teaching people how to trade? Or do you mean "fee-based" like some financial planners who charge based on the amount of assets they manage and get no commissions, kickbacks from mutual fund companies, etc.? If the latter, I have no idea how you'd do that for a trading course.
you mean charge a fee to anybody who is mislead enough to pay?
if you mislead someone you are liable to jail
but if you mislead some one in markets you are liable to a bonus
i have taught one or two traders in this forum but i have done it free.....
but i will not teach a lot of traders because the market will always discount the analysis of the majority...why else will 90% of traders lose money ?