Newbies listen ! My Story w/ lessons
- Thread starter wiesman02
- Start date
It really isn't worth it... the reason that the vast, vast majority of traders who are successful do not mentor is:
a) new traders cannot afford the price of good mentoring
b) Why give away techniques and secrets you spent tens of thousands of hours learning?
trust me, when (if) you get to the point where you are successful enough that you could even consider mentoring for money, then a few thousands per month is not even close to being worth it.
However, if you are not a profitable trader, then of course you would want to try to sell your 'mentoring' by explaining failed techniques.... if they worked, you would just forget about mentoring and would continue to make money using them. But if they never made any money for you, then sure, why not sell them...
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I think that the only reason why it would make sense to pay for mentoring would be at a very, very, very basic level.
I think that there are many different levels of trading, in terms of profitability. On the one extreme, you have the total noob trader who is extremely unprofitable... then one step up from there is a moderately experienced trader, who is somewhat unprofitable.
So the moderately experienced trader is a leg up on the complete noob, and it may make sense for the complete noob to pay for training to get up to that level... because it would keep him or her in the game long enough that he might become profitable after many many years of work.
but to expect that someone who is consistently profitable would practically give away their techniques or secrets for a few thousand dollars is ridiculous.
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I think that there are many different levels of trading, in terms of profitability. On the one extreme, you have the total noob trader who is extremely unprofitable... then one step up from there is a moderately experienced trader, who is somewhat unprofitable.
So the moderately experienced trader is a leg up on the complete noob, and it may make sense for the complete noob to pay for training to get up to that level... because it would keep him or her in the game long enough that he might become profitable after many many years of work.
but to expect that someone who is consistently profitable would practically give away their techniques or secrets for a few thousand dollars is ridiculous.
g
On the other had some of us view it differently.
I believe in the three stages of life principle: Learn, Earn and Return.
Throughout life all three elements should get your energies. At my age, Return gets a lot of my attention. Mentoring some for free is my way of giving back. Those who can afford it pay plenty.
YMMV
Are you profitable?
If so, are you offering free mentoring?
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...and by profitable, I am saying that you are making at least a reasonable amount from trading, like 100K$ per year.
...btw, having a large retirement that you gained over many years of buy and hold (and dollar cost averaging) which is making money from the market going up does not count.
I am talking about by the process of actually daytrading/swingtrading/scalping. Meaning that someone with an account less than 50K like most noobs have could make a decent profit from it.
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...btw, having a large retirement that you gained over many years of buy and hold (and dollar cost averaging) which is making money from the market going up does not count.
I am talking about by the process of actually daytrading/swingtrading/scalping. Meaning that someone with an account less than 50K like most noobs have could make a decent profit from it.
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Profitable enough to impress some who know me. Profitable enough to get people to pay me for education, training and coaching (mentoring).
I grant some scholarships on a need and enthusiasm basis, but I arrange it so everyone has some skin in the game. Not everyone who asks gets a scholarship.
hehe... how much do you charge?
btw, love the part about how you are telling people that it is about giving back by giving free mentoring...
...and then you say that you charge for mentoring.
well played, sir... well played
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