What % Of Trading Educators Do You Believe Are Legit?

RedDuke said:
Serious question. Why not automate and not deal with clients?
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KCalhoun said:
I've tried, it would also help overcome my anxiety about trading large size. But all the AI/programming needed would require too-expensive algo coding, eg brain dump of hundreds of subtle rules. I've looked into it ... charting software companies have asked me for years to create a scanner, but they don't work consistently. Would love to automate my process, it's complicated though
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It takes years to learn to trade.
Then it takes years before you have a large profit in your trading account.
To fully automate is a huge task, beyond what one person can accomplish, they really get too old to take on this task as an individual.
The only way imo, it needs to be a team event, because to fully automate there are just too many balls in the air for one person to handle, remembering, an experienced trader and coder is not going to be a young guy who's made it on his own.
 
Here in the Chicago area, there are still a couple of handfuls of people who worked the floors or were in house trainers when the firms still invested in live trainers.
The point about being successful - the remaining few still spend most of their time trading.
My reference is the CBOE firms and if you can get one of these folks to mentor you don't expect it to come cheap. Saliba's school when it existed(ITI) was 30 to 50K.
You want to spend less money look at Sheridan mentoring or Andrew at Option Pit.
It's easier to automate the training than it is the trading and most of these folks would rather trade.
I've mentioned on the site previously that if you put your hand on the O'Connell and Piper training tapes from SOC/First Option they are outstanding. There were a few hundred made. Never seen them on ebay - we have a set we use for continuing ed and they are not for rent.
 
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Marty O'Connell has a profile on Linkedin - just checked. Not certain it has ever been updated.

He has a patent registered in 2012.


Patent
  • Patent titleSYSTEM AND METHOD FOR CREATING AND TRADING A DERIVATIVE INVESTMENT INSTRUMENT OVER A RANGE OF INDEX VALUES

    Patent dateIssued Apr 24, 2012 Patent issuer and numberus 8,165,953 B2
 
themickey said:
It takes years to learn to trade.
Then it takes years before you have a large profit in your trading account.
To fully automate is a huge task, beyond what one person can accomplish, they really get too old to take on this task as an individual.
The only way imo, it needs to be a team event, because to fully automate there are just too many balls in the air for one person to handle, remembering, an experienced trader and coder is not going to be a young guy who's made it on his own.
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exactly why there are 3 of us in our team.
 
the bottomline trading is easy the implementation is the problem and its not just a here is how you do x people have reactions to the market that go against logic. Any educator for me at least will need to be able to trade live, provide broker statements and most important 1 on 1 mentoring to help with the implementation part. I actually would expect a real trading educator to be expensive if they are doing all the things i list. Any one that is cheap i think they are just reselling information that exist already and most people wont gain a benefit or at least an immediate benefit to it.
 
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