Why do people pay for trading courses/training?

It depends on the person, not that many good trading books out there most are pretty useless try to find one that matches ur stlye yeah right , most of us on this site dropped some serious cash just learning the ropes of trading through trail and error, so if a course speeds things up why not, just be careful with who ur taking the course with make sure they actually trade. Another note you will retain very little info like 20% from a class so I've read.:confused:
 
Quote from PropTraderMTL:

My theory is that most courses teach you the basics... nothing more then any good trading book will show you. People have an innate belief that there is a secret to trading and try to find it by taking courses run by people who claim to have it. Additionally many people fail to realize that it is their own ego problems that are holding them back rather then their methods. Sure some have no method but after reading a few books you can get a bunch of ideas that will make you $$ if correctly implemented.

I think that what many courses succeed in doing is instilling a belief in the trader to trust the method taught. Thus overcoming the ego problems and actually giving traders a plan where they lacked one before.

Having never taken a paid trading course and only undergone minimum training (free) I want to ask the question of WHY people pay and has it worked for you? Also for those experienced profitable traders... have you ever taken a course thats improved your trading?

(Background: I ask this question as I see people having a debate about Prestine and other training firms. I'm a profitable trader but have no real desire to take any additional paid training. I read new books all the time and I'm always watching for good discussion threads / trading videos. I also have started keeping a journal)
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How many times have you gone to tradersExpo, if I may ask?
 
In theory your post is silly.

I've been in this biz for 27years and seen guys like you come and go so you really don't have any credibility with me till you pass the 7 yr mark of profitability.

In my 27 years experience do you not think I would have some value if I decided to teach someone what I've learned?

The problem is not people paying for training the problem is FALSE education based off marketing tactics.

If I take a student it is purely based off of facts.

I tell them the reality of the statistics of trader failure and I tell them that they will probably fail and the odds are against them significantly.

I do also tell them that if they can master the education as well as their emotions they have a shot at a wonderful income.
 
Quote from PokerFXTrader:

In theory your post is silly.
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...and in practice your a douche

Quote from PokerFXTrader:
I've been in this biz for 27years and seen guys like you come and go so you really don't have any credibility with me till you pass the 7 yr mark of profitability.

In my 27 years experience do you not think I would have some value if I decided to teach someone what I've learned?

The problem is not people paying for training the problem is FALSE education based off marketing tactics.

If I take a student it is purely based off of facts.

I tell them the reality of the statistics of trader failure and I tell them that they will probably fail and the odds are against them significantly.

I do also tell them that if they can master the education as well as their emotions they have a shot at a wonderful income.
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Firstly)
Who said anything about me wanting credibility... I see you still suffer from ego problems after 27 years of trading. Get off your high horse for a couple of minutes

Secondly)
I wasn't talking about the merits of any particular training. With 27 years experience you probably have a lot to teach and people would benefit from it.

If you read my post I asked the question about why people pay for training and what peoples experiences have been with paying for training. In particular I wanted to know about whether experienced profitable traders had training later in their career.

If you have something to contribute on this topic I would appreciate hearing it...
 
Quote from 1765hillwood:

It depends on the person, not that many good trading books out there most are pretty useless try to find one that matches ur stlye yeah right , most of us on this site dropped some serious cash just learning the ropes of trading through trail and error, so if a course speeds things up why not, just be careful with who ur taking the course with make sure they actually trade. Another note you will retain very little info like 20% from a class so I've read.:confused:
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Yeah like I said in my post I learned through trial and error and then reading books. I have never really read about actual technical trading theory (ie looking for a method)... but more focused on the psychological aspects of trading.

Are you actively trading? and have you ever taken a course?
 
Quote from PropTraderMTL:

...Additionally many people fail to realize that it is their own ego problems that are holding them back rather then their methods...
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What's your opinion about courses or vendors that teach traders how to deal with their egos such as those offered by trader psychologists (e.g. Brett N. Steenbarger Ph.D., Ruth Barrons Roosevelt J.D. and many others) ???

My point is that there are different types of trader coaches and the folks I mention above are one particular type. Their goal is to help traders improve as a trader. Thus, there not trying to teach an edge involving trade signals.

Have experienced profitable traders taken courses or training that has improved their trading?

Yes, I have had help in the early part of my trading career that involved trade methods and preparation. Many years later I saw a psychologist (not a trader psychologist) to deal with personal issues in my life that was sabotaging my trading performance. Yeah, all of it was very helpful and help me become a better trader.

However, I don't have any problems with getting help consider it was nothing new to me. For example, when I was younger and competing internationally in a particular sport...I had private tutor to help me with my technique. Another example is when I was college I've always had tutors in organic chem, medical ethics and other classes I struggled in that I knew I would fail without help. Heck, a close friend and I took private dance lessons for 6 months.

Simply, I've learned that some situations trial n error (self taught) was not a suitable option.

Mark
 
Having never taken a paid trading course and only undergone minimum training (free) I want to ask the question of WHY people pay and has it worked for you? Also for those experienced profitable traders... have you ever taken a course thats improved your trading?


I am assuming you had some losses while learning on your own. I consider that a paid training course.

Proper education is simply a business decision. Is it worth the cost to save time as losses? That is for each individual to decide.

A very large percentage of those trying to figure out trading on their own will never be able to hold a profitable equity curve because they have no idea what they are doing and most free advice is junk.

Trial and error is the most expensive method in my opinion. I would pay for good training but the problem is that there is hardly any that can be found. Most are just sales operations.
 
Quote from wrbtrader:

What's your opinion about courses or vendors that teach traders how to deal with their egos such as those offered by trader psychologists (e.g. Brett N. Steenbarger Ph.D., Ruth Barrons Roosevelt J.D. and many others) ???

My point is that there are different types of trader coaches and the folks I mention above are one particular type. Their goal is to help traders improve as a trader. Thus, there not trying to teach an edge involving trade signals.

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No I haven't heard of those courses, but I guess these types of courses would be something I would be much more interested in. Have you taken any of these courses?

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Quote from wrbtrader:

Yes, I have had help in the early part of my trading career that involved trade methods and preparation. Many years later I saw a psychologist (not a trader psychologist) to deal with personal issues in my life that was sabotaging my trading performance. Yeah, all of it was very helpful and help me become a better trader.

Simply, I've learned that some situations trial n error (self taught) was not a suitable option.

Mark
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I have definitely noticed that the rest of your life plays a heavy role in your trading... Its difficult to avoid these things influencing me for good or for worse. Also vise versa... nothing sicker then having to have to entertain the girlfriend parents after losing a sh!t load of $$ hahaha

Maybe it needs someone from an outside perspective to notice things that your doing wrong or you can improve on. Part of the reason I decided to keep a public journal rather then a private one
 
Quote from zdreg:
----why are many floor traders unsuccessful as upstairs traders?
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1) The same reasons that non-floor traders are unsuccessful.
2) Floor traders used to have the advantages of literally seeing the order flow in the pit, "leaning" on customer orders and getting the "market" orders. Those things don't exist on the screen. It can take too much time to "unlearn" that type of trading when going to the screen. :(
 
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