What do you think when you see a famous trader now selling courses & mentorship plans?

[ktm]

There may be a few exceptions, but very few.

Once you are able to print money and have truly done so for a significant amount of time, why on earth would anyone expose themselves to the unwashed public for $1,500 a pop? Most students are normal, but you know a few are going to stalk you and sue you and berate you endlessly because they can't print money after spending $1,500.

If I have that kind of money, I trade when I want but my spare time is spent building birdhouses or restoring classic cars or some other nearly mindless pursuit that gives me some level of enjoyment.

 

[Amun Ra]

There may be a few exceptions, but very few.

Once you are able to print money and have truly done so for a significant amount of time, why on earth would anyone expose themselves to the unwashed public for $1,500 a pop? Most students are normal, but you know a few are going to stalk you and sue you and berate you endlessly because they can't print money after spending $1,500.

If I have that kind of money, I trade when I want but my spare time is spent building birdhouses or restoring classic cars or some other nearly mindless pursuit that gives me some level of enjoyment.

Some do it for the money, some do it for the hero worship factor. He can probably upsell the people that lose money into putting $100k in his hedgefund where he charges 3 and 30.

 

[Handle123]

Trading very much like this song, little at a time.

I have had some big name mentors/course presenters in my life like Toby Crabel, Larry Williams, George Lane, Peter Brandt, Curtis Arnold, George Angell, Crabel by far was the worst ever, Angell give 100% refund if you didn't like it. I enjoyed Brandt being conservative, learned real estate from Lane, Larry Williams put together nice presentations and great dinners. Have had dozen in person seminars by many no one ever heard. But after awhile, when you know more than presenter, time to stop traveling.

What's funny, material they gave me back then and wasn't able to understand, it is so clear NOW.

After awhile, trading gets so boring, you doing same patterns every day, trade long enough, nothing you not seen.

People come to trading with that dream, they all think it going to be easy, it is easy to open an account and then come here to learn how to enter, but the 99% of risk management seldom studied , they don't know chit.

So what do you think you can learn in a weekend? Anyone who thinks they going to spend $1,500 for Golden Goose, no one with Golden Gooses talk about them let alone to selling them.

 

[destriero]

@Handle123 is a Walter Mitty degenerate. Crabel has never offered seminars or courses. You are beyond delusional.

 

[trader99]

I don't think theses supertraders are necessarily fake. So, even if they make $1M/yr in trading(which is possible for the top 1%), after taxes maybe it's $500K. Then they got mortgages, private schools, nice vacations, etc. or whatever lifestyle they have become accustomed to. And if they live in an expensive city like NYC or SF then their cost of living is high. I'm not saying they can't get by on a $1M pre-tax. but it doesn't go as far as you think.

So,why not supplement the volatile trading income with something more stable?

Even Dan Zanger who turned $11K into $48M has a website and subs. He didn't keep all those gain though.

Thanks to QEs and high COL places, a $1M pre-tax doesn't go as far as you think especially if they already have an expensive taste. That's why MD(managing directors) at Wall St firms who pull in over a $1M+ a year still feel "poor" compared to the top hedge fund managers pulling in a$50M to a $1B a year.

It's all relative. And these guys are accustomed to a certain lifestyle that NONE of us on ET know about or enjoy now. Summer homes in the Hamptons. $60K/yr private schools for their kids(per kid). A Manhattan co-op costing $3M+. Who knows.

 

[trustedsource]

LMFAO all this time could be used to study the markets you dumbasses!! what are YOU DOING? stay on your game. what the hell.. every minute counts. you think the computers and super geeks are sleeping and writing about who is a mentor and why HELL NO. they are thinking and plotting and planning. now get to work

 

[ironchef]

And these guys are accustomed to a certain lifestyle that NONE of us on ET know about or enjoy now. Summer homes in the Hamptons. $60K/yr private schools for their kids(per kid). A Manhattan co-op costing $3M+. Who knows.

None of us? Don't be so sure.

 

[Laissez Faire]

I'm re-reading the Market Wizards series - which is great by the way - and was surprised by the Linda Raschke interview. Some interesting insights there and also very inspirational.

One of the things she mentioned in the interview was that she struggled with isolation after she stopped trading on the floor and started trading in a home office. So, offering mentoring services and workshops could be a way to battle that.

I'm still skeptical of most people mentoring, but I can see how people may have a motivation for doing so beyond just the extra money.

 

[ms33]

I'm still skeptical of most people mentoring, but I can see how people may have a motivation for doing so beyond just the extra money.

Who else are they going to talk to?

 

[ironchef]

Who else are they going to talk to?

All of us here on ET, and we are free. But:

1. You need a thick skin and be able to withstand insults at times.

2. The answers are there but not in obvious places so you need to read carefully, often between the lines.

3. You need to filter out nonsenses from wisdoms. There are lots of pretenders, false prophets who can easily lead you astray.

I want to thank the true professionals and successful traders (you know who you are) for you help making me a much better trader.

Best wishes to all.

PS: Linda Raschke is great.