i know one thing stay away from trade the markets and john carter... total scam 
How much to pay for a mentor?
- Thread starter PsychoTrader
- Start date
Online trading academy will do it for around 6 grand for life! They offer a great mentor program where you trade together everyday for three months, then you can watch him trade everyday after that if you choose.
http://www.tradingacademy.com/xlt.htm
http://www.tradingacademy.com/xlt.htm
Trading mentors are much like Trading Systems. The only ones for sale aren't worth buying.
What are your goals? Are you doing it only for the money? If so, how much do you think you're worth? If you were them, how much would you pay for the knowledge? Are you teaching someone an edge or are you teaching them generic information? The questions require self-honesty in order to be helpful.
I hope to learn enough so that one day I can hook someone up the same way I've been hooked up. Just the honor associated with paying kindness forward is what would do it for me. I know that sounds pretty geigh, but it's true. I won't charge anything when that day comes, but that's just me. You may have different reasons and goals than me. Real knowledge (not BS vendor crap) is certainly worth paying dearly for, but it wouldn't be right for me to charge having been helped out the way I have been. I'm just not the type to charge anyways I guess. I get a lot out of helping someone who is willing to help themselves.
I guess it just depends really.
<i>"Why does a real succesful trader need 30K? I can understand maybe a great trader wants to teach someone in a special situation, but in that case he probably wouldn't want or need the money."</i>
As usual in ET, the same old question being asked from the wrong direction. The real question is, why would any experienced trader want to work with everyone for free? I can understand maybe a great trader wants to teach someone in a special situation, but in that case he probably wouldn't devote as much time, effort or energy.
If a trader in question made $1mil trading stocks in 2007 and decided to mentor someone(s) in 2008, it takes x-amount of time, effort and energy to do so. What successful trader wants to expend those limited, precious resources (time is much more valuable than money) for nothing in return? The "feel-good" aspect will be there either way, money or free.
Show me someone who made $1mil doing anything last year that would dismiss $50k out of hand. If that seems an insignificant sum, just gather up five hundred $100 bills of your own, push them into a pile on your front lawn and light the whole thing on fire.
What the heck... it's insignificant, right? Why not burn it up and have some fun in the process. Make it rain c-note ashes.
*
"Mentoring" is one word for a pretty broad-based spectrum. A student who doesn't know the first thing about trading demands a lot more resources than a trader who has crippled their way to consistently break-even or sporadically profitable. That trader may require less nuts & bolts but more mental = emotional aspect support.
**
I saw a disturbing thing on television today. There was Tiger Woods, flogging Buicks in a commercial. Can you imagine? I highly doubt he actually drives a buick... how hypocritical is that?
But, I could be wrong. Maybe he blew up on the golf circuit and needs the money. After all, why else would he stoop to vending for Buick? Real shame, the kid seemed like a good golfer once upon a time. If he were still a great golfer, we can be sure he wouldn't want or need that extra piddling amount of money for hawking your father's automobile.
Damn shame, the way his career has seemingly ended.
As usual in ET, the same old question being asked from the wrong direction. The real question is, why would any experienced trader want to work with everyone for free? I can understand maybe a great trader wants to teach someone in a special situation, but in that case he probably wouldn't devote as much time, effort or energy.
If a trader in question made $1mil trading stocks in 2007 and decided to mentor someone(s) in 2008, it takes x-amount of time, effort and energy to do so. What successful trader wants to expend those limited, precious resources (time is much more valuable than money) for nothing in return? The "feel-good" aspect will be there either way, money or free.
Show me someone who made $1mil doing anything last year that would dismiss $50k out of hand. If that seems an insignificant sum, just gather up five hundred $100 bills of your own, push them into a pile on your front lawn and light the whole thing on fire.
What the heck... it's insignificant, right? Why not burn it up and have some fun in the process. Make it rain c-note ashes.
*
"Mentoring" is one word for a pretty broad-based spectrum. A student who doesn't know the first thing about trading demands a lot more resources than a trader who has crippled their way to consistently break-even or sporadically profitable. That trader may require less nuts & bolts but more mental = emotional aspect support.
**
I saw a disturbing thing on television today. There was Tiger Woods, flogging Buicks in a commercial. Can you imagine? I highly doubt he actually drives a buick... how hypocritical is that?
But, I could be wrong. Maybe he blew up on the golf circuit and needs the money. After all, why else would he stoop to vending for Buick? Real shame, the kid seemed like a good golfer once upon a time. If he were still a great golfer, we can be sure he wouldn't want or need that extra piddling amount of money for hawking your father's automobile.
Damn shame, the way his career has seemingly ended.
Very colorful but idiotic comparison to Tiger Woods. He makes more money annualy from endoresements then from golf. If you are a trader who is worth somone paying you 30K to teach them, you should be making that in a week. If you're not, you're not worth more then a couple of $40 books. Its very simple, for 30K you better have some secret edge that will guarantee the student immediate profits, and if you have that edge, you would be a fool to give it away for 30K. Its a two edge sword. Once again like the other person said, if you're for sale, you're not worth buying.