How I saved $10,000, sorry Gurus

Quote from BestGuruEver:



(I think this contradicts....to be a "professional in their field" don't they have to trade? And make money? So, can i be a professional football player and not play football and/or be bad at it?)
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What I mean as a professional in there field is that they are 'good' in what they do, for example teaching and modeling future traders into succesfull traders...

It does not mean that they have to be a trader to do just that....
 
Quote from BestGuruEver:


To pay a few thousand dollars in order to be taught how to trade, doesn't it make sense that they are actually good at making money?

references mean nothing?

so you would take your child on a plane knowing the pilot has only read books on how to fly?

etc......
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No, it does not make sense that they are actually being good in making money. It make more sense if they(the teachers) can 'teach' somebody else to make money in the markets...

References means everything, but you must ask the right questions... And a question like 'how much money do you make as a trader' is not the 'right' question if you seek somebody to coach and train you in this field.

"so you would take your child on a plane knowing the pilot has only read books on how to fly?"

This is remark is taking the hole matter out of its context, I hope you can see that...
 
Quote from riskfreetrading:

I agree, and I did not mean that every professor is able to make money in market (most likely 80% will fail).

To learn how to make money multiple factors enter into the equation, including the student, the teacher (as able teacher and trader). A true educator needs to have the ability to build a trading mind. Not every trader can teach. Education has requirements of its own as well.

I think we agree. And if the student is good and ready, the teacher will show up. If no human teacher shows up, then there is always Mr. Market (He takes from a man until he learns or his bank account goes dry).
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Not everyone is motivated purely by money is a fact. One of the best plastic surgeons in the world is a professor at University of California and he makes about $450,000 a year salary. He could make millions, maybe even tens of millions, in private practice. All kinds of celebs and high end clients use this guy, but they must be missing something coz obviously if he was any good he'd not bother to do the teaching thing.
 
Quote from danielc1:

Hmmm, I do not agree that a 'mentor' has to have a track record or even must 'trade'.

The best coaches are people that are professionals in there field. You need somebody with 'insight' and outside perspective to make you a 'great' trader and developing others in to great traders are other skills then trading for yourself. That is why many traders can not teach.

The reason for my succes is commen sence and I have used methods that are teached by 'non' pro traders like Ari Kiev, Van Tharp, and so on... These people made my trading more profitable then any other 'real' trader that showed me some technical system they use and I could not 'duplicate'...

I know there are people out there that teach there systems, but that is developed for there personality and will mostly not work for you. Then you will have a 'track' record that he/she made money, but guess what? You likely won't duplicate the results...

And of course there are 'many' people that are out there claming to be a mentor and just run with your money.

So, commen sence, doing your 'own' research and asking a lot of questions to 'gurus' will help you more to decide that this or that person will be able to help you then any 'trackrecord'. And if you have made a decision to follow somebody and it was not what you think it was or should be, ask yourself this:has it to do with what I 'think' it should be or is it that I can not accept the 'reality' what is needed to be a good trader?
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I am a 100% in agreement with you!

I do not think the OP is serious about learning, and may have some maturity work to do which comes mainly with time. He will understand things with passage of time.
 
Quote from Brandonf:

...but they must be missing something coz obviously if he was any good he'd not bother to do the teaching thing.
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There are certain human who would teach even if you give them only $1. There is some particular reward in teaching. It is the same as why people raise children. It is not to expect the child to come to their rescue at old age, but because it is a human thing to raise/teach. It is non-monetary.
 
Quote from riskfreetrading:

There are certain human who would teach even if you give them only $1. There is some particular reward in teaching. It is the same as why people raise children. It is not to expect the child to come to their rescue at old age, but because it is a human thing to raise/teach. It is non-monetary.
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Agree. There are all kinds of reasons that people teach, in some cases it can be pretty profitable, but in most cases the best teachers would do it for nothing. I think in the case of "trading systems" the very act of buying one of those done for you systems tells you how much the "trader" buying the product is actually willing to commit to the process of trading.
 
Quote from Brandonf:

Agree. There are all kinds of reasons that people teach, in some cases it can be pretty profitable, but in most cases the best teachers would do it for nothing. I think in the case of "trading systems" the very act of buying one of those done for you systems tells you how much the "trader" buying the product is actually willing to commit to the process of trading.
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You are absolutely right

The "system" that makes the difference is the one that develops inside the brain of the trader.

The edge is intellectual.
 
You guys are missing the point.

OK, so someone will teach for $1. OK, they love teaching. OK, OK, OK..

my point is, before they do it.....have them prove to you they actually make money!!!!!!

There are clowns on this site and youtube that want us to believe they make money, but I want them to prove it first.

the guy who teaches and makes bank, has proven his credibility.

PROVE YOU MAKE MONEY.
 
Quote from BestGuruEver:

You guys are missing the point.

OK, so someone will teach for $1. OK, they love teaching. OK, OK, OK..

my point is, before they do it.....have them prove to you they actually make money!!!!!!

There are clowns on this site and youtube that want us to believe they make money, but I want them to prove it first.

the guy who teaches and makes bank, has proven his credibility.

PROVE YOU MAKE MONEY.
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I'm not missing your point, but I can gaurantee you that from a business point of view the guru is not hurt at all by not showing his results, so if you don't buy he does not care. Like I said Vadym from Realitytrader had his audited a few years ago, and it made ZERO difference to the bottom line, not one bit. The people who complained still complained, the people who wanted to buy that type of product still bought it. In some cases showing the income actually could hurt the guru, for example. Let's say the guy makes an average of $15,000 a month trading, that's a nice living to most people - but to some people that's not what they thnik of at all when they think of all the money they can make trading. When they see that the "big bad guru" is "only" making 15K per month they are disapointed as it damages the dream that they have, thus they don't buy. You can argue with me about this point all you want, but I've tested it and seen it tested in the real world. Maybe I didnt test it right, maybe my data source is bad (mostly ET members btw), but that's what I found in the real world of gurudom.
 
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