why do many traders give seminars etc..?

[ProfLogic]

Quote from Thunderdog:

Actually, if he was a decent, profitable trader, then his P&L would reflect that fact. Further, seeing a trader's P&L over time is not unlike seeing a market's price chart. Useful info. Why would any legitimate seminar promoter who actually trades deprive potential clients from assessing such useful information? Why would he not assist them in arriving at an informed decision?

I agree, but the P&L is only part of the decision making process.

When taking culinary courses, one particular chef hated fish but what he taught me gave me the skills to cook a killer sea bass or salmon.

When taking my IT courses, my logic professor never worked in a problem solving position but what he taught me gave me the skills to be one of the best problem solvers in my industry at the time.

If someone can teach an individual solid basic trading habits and skills then hopefully they can take that information to the next level. The problem then reverts back to what Brandon said earlier, most students can't take specific instruction. This is due to a lack of patience as much as anything.

Bad habits are the killer of most traders and if one can learn to avoid, if not eliminate most of those pitfalls; it will go a long way to at least allow them the potential to succeed. Bad trading habits are created from unstructured beginnings into trading and that is not addressed or adamantly stressed in most instructional books out there.

 

[Thunderdog]

Quote from Maverickz:

#1 I do trade with real money
#2. I did NOT say that I am making a 1mil per year...not yet anyway.
#3 The whole point was IF someone was doing that then they would in effect be able to double the amount of money from trading by also teaching. Yes 1.2 mil from teaching is a nice amount of money for 12 weeks worth of work...

An observation, if I may. If you have endeavored for a time to find gold and, after considerable effort, you came across a gold mine not generally known to the public, the first thing you would NOT do is sell complete and specific directions on how to get there. The colorful maps of this nature that you can buy are usually for those mines that have already been depleted.

Have you never asked yourself why you seldom see traders who are extremely profitable selling the specifics of their trading strategy? And if you did see them or run into them, then please post their P&L here.

 

[riskfreetrading]

Quote from gnome:

Suggestion..

If you're contemplating paying for a seminar, require the promoter document that he's made $MILLIONS PER YEAR FROM TRADING over at least a few years. (That will eliminate the charlatans.)

Otherwise, steer clear.

That is a good point, but it applies only if you are ready to pay 50K for the education. Otherwise you may be asked: who are you to ask that I show you my statement for your little nut of $1K.

 

[riskfreetrading]

Quote from TudorJones:

& that's precisely why someone like me would never do a seminar. Because I think I have distilled the making money process into as simple a process that anyone can. And I don't want to give up my winning ways, while most in the seminar circuit are not good traders, or their methodologies are hard to implement that it would be more economical for them to sell their knowledge. An example would be Mr. Sands, and his turtle methods. Turtle methods work, but hard to trade and implement and is just much easier to teach.

If I do it, it would be like George Soros holding seminars.. It just wouldn't be cool.

Just to make things clear here: Soros is not a good trader. He hired good traders. He did not assign money to stocks,but to traders. And you give more to the winner. He was a good money manager, not a good trader.

 

[Thunderdog]

Quote from riskfreetrading:

That is a good point, but it applies only if you are ready to pay 50K for the education. Otherwise you may be asked: who are you to ask that I show you my statement for your little nut of $1K.

And my answer would be: "I'm the guy forking over $1k. And who are you to expect that kind of money just on your say-so?"

Unfortunately, I suspect that too few people respond in this manner.

 

[fearless9]

Quote from Maverickz:


#4 I have no idea why I typed a response

M

You have just summed yourself up.

Trading for real money, (and I am not referring to the loose change that results from a handleful of lots per strike) will change your perception not only on trading but on life.

Accept this fact and you are on your journey to success.

Reject this fact and you will continue to be dragged through life by your perceptions and ego.

The choice lies in your hands.

regards
f9

 

[Thunderdog]

Quote from ProfLogic:

...Bad habits are the killer of most traders and if one can learn to avoid, if not eliminate most of those pitfalls; it will go a long way to at least allow them the potential to succeed. Bad trading habits are created from unstructured beginnings into trading and that is not addressed or adamantly stressed in most instructional books out there.

I agree that bad habits and an unstructured approach may be a serious detriment to successful trading. But I think there is no lack of books out there in this regard. If you feel they are indeed lacking and believe that this is your principal contribution, then why not write a book and make up in volume what you would forego on a per unit sale basis promoting seminars? And who's to say they're mutually exclusive?

 

[Maverickz]

Quote from Thunderdog:

An observation, if I may. If you have endeavored for a time to find gold and, after considerable effort, you came across a gold mine not generally known to the public, the first thing you would NOT do is sell complete and specific directions on how to get there. The colorful maps of this nature that you can buy are usually for those mines that have already been depleted.

Have you never asked yourself why you seldom see traders who are extremely profitable selling the specifics of their trading strategy? And if you did see them or run into them, then please post their P&L here.

Oh don't get me wrong I didn't say they would teach you their exact "edge". The best I can gather most training seminars only teach people the market basics. Things that will improve the average newbie just by teaching them how to read trend lines, support resistance, basic chart patterns, and a few indicators. Which for most beginners are things they would have otherwise had no clue about. Hell it might even stop some of them from blowing their accounts in the first 2 months and actually be worth the 5k for that alone.

 

[Thunderdog]

Quote from Maverickz:

Oh don't get me wrong I didn't say they would teach you their exact "edge". The best I can gather most training seminars only teach people the market basics. Things that will improve the average newbie just by teaching them how to read trend lines, support resistance, basic chart patterns, and a few indicators. Which for most beginners are things they would have otherwise had no clue about. Hell it might even stop some of them from blowing their accounts in the first 2 months and actually be worth the 5k for that alone.

Then why spend $5k on what you can pick up in any reasonable trading-related book for under $50? And you cover a lot more ground in a book than at a seminar. Isn't trading all about getting a good price and not overpaying for something when you can avoid it? That mentality can start on Day One.

 

[Maverickz]

Quote from fearless9:

M

You have just summed yourself up.

Trading for real money, (and I am not referring to the loose change that results from a handleful of lots per strike) will change your perception not only on trading but on life.

Accept this fact and you are on your journey to success.

Reject this fact and you will continue to be dragged through life by your perceptions and ego.

The choice lies in your hands.

regards
f9

Once again you skim a post read but a few words and jump to conclusions. Do you honestly think from reading a small portion of 2 posts without any comprehension of what the posts said suddenly gives you some kind of clarity or insight into how a person is in life?

Then again I guess the only way you have to refute an OPINION is by attacking the character of the person with the opinion rather than through actual debate or discussion. Everyone else in this thread has done a good job with discussion. It's a shame you can't contribute anything meaningful.

If you have something serious to say about what I said then I welcome the debate.