I have yet to make one penny from teaching anyone and the hatred is beyond belief
How does one build an educational trading business
- Thread starter ultimatesuccess01
- Start date
I have yet to make one penny from teaching anyone and the hatred is beyond belief
And that's exactly why legit people don't want to teach/mentor ... You will have 99% of your customers unhappy and sh*ting all over social media.
Then the case is closed. If you sell anything on the internet, you'll have haters...especially anything in a perceived "get rich quick" niche. Even if you're a long-term profitable trader (which I highly doubt), you'll have a bad week or month and get called a "scammer" and maligned online. That goes with the territory. So if you can't deal with some critics here (even if they're unnecessarily harsh), you won't be able to deal with real haters who paid you money.
I was browsing thru twitter today out of curiosity and came across a vendor being born. Guy had been tweeting for a couple of years, standard technical analysis stuff, swing trade based, amassed over 10k followers, and just announced he is launching an educational service. No proof of anything offered yet lots of eager posts from followers who are "looking forward to joining to service".
So just follow his footsteps....
* post daily free content on social media, with the market analysis of your choosing.
* be warm and friendly, express your desire to help and share, to pay it forward, its better to give than receive, etc...
* court the attention of other traders who may retweet/repost your content to their followers
(many vendors will "share" followers with one another, hopefully a win-win where each gains some new subs)
* don't make specific market calls, if you're wrong too much it could damage your reputation
* do hindsight connect-the-dots analysis, and for forward-looking analysis talk about key levels, patterns, etc but stay vague about what may happen, dont commit to a direction.
For example... "oil coming into strong support level..." If it reacts upward many people will credit you with a good call even though you called nothing. If it breaks down through then you still look smart. You win either way.
Once your following gets to a certain level, you announce the launch of your new premium content. Here you simply do the same thing you've been doing all along but charge for it. Continue to put out free content to advertise for new subs. If you can't gain enough followers you need to work on your game. Either your persona or content need work.
It just seems nuts to me that people are still able to launch new businesses selling this same old crap but this guy is doing it... I have no idea how many subs he'll get but if he's got 11k twitter followers that's a big pool to draw from. It's crazy.... I mean if drawing trendlines on charts of gold, oil, spx and whatnot were so effective... then the best practitioners of these tactics would have become big money managers and we could all just invest our money with them and reap the rewards rather than try to learn to do it ourselves from guys on youtube and twitter. LOL.....
So just follow his footsteps....
* post daily free content on social media, with the market analysis of your choosing.
* be warm and friendly, express your desire to help and share, to pay it forward, its better to give than receive, etc...
* court the attention of other traders who may retweet/repost your content to their followers
(many vendors will "share" followers with one another, hopefully a win-win where each gains some new subs)
* don't make specific market calls, if you're wrong too much it could damage your reputation
* do hindsight connect-the-dots analysis, and for forward-looking analysis talk about key levels, patterns, etc but stay vague about what may happen, dont commit to a direction.
For example... "oil coming into strong support level..." If it reacts upward many people will credit you with a good call even though you called nothing. If it breaks down through then you still look smart. You win either way.
Once your following gets to a certain level, you announce the launch of your new premium content. Here you simply do the same thing you've been doing all along but charge for it. Continue to put out free content to advertise for new subs. If you can't gain enough followers you need to work on your game. Either your persona or content need work.
It just seems nuts to me that people are still able to launch new businesses selling this same old crap but this guy is doing it... I have no idea how many subs he'll get but if he's got 11k twitter followers that's a big pool to draw from. It's crazy.... I mean if drawing trendlines on charts of gold, oil, spx and whatnot were so effective... then the best practitioners of these tactics would have become big money managers and we could all just invest our money with them and reap the rewards rather than try to learn to do it ourselves from guys on youtube and twitter. LOL.....
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I am polite in my conduct with those I respect, and the opposite with those who deserve no better. Understand, those of us who do run successful trading operations can smell your snake oil a mile off. And I have absolutely no patience for those that would exploit the weak.
I stand by my comments. Now piss off.
Your whole post was spot-on but especially the parts above. If people want to watch free "daily market and chart reviews" on YouTube, then whatever. But I'm amazed they pay $20-$100/month for vague, "here's what the market did and here's what it might do" commentary. And you're right, you can hedge your language enough to take full credit for "calling the market" when right and avoiding criticism when you're wrong (because you gave a much of "maybes" and "ifs").
In your opinion how should they call it?
If you are a good trader, why would you take the pay cut to teach unless you do 1 v. 1 mentoring for $20,000 a pop.
Make a firm trade recommendation (entry, exit, stop, etc. levels). Better yet, place a trade with a service that can be audited.
Market commentary is fine, but I'd never pay for vague analysis of anything.