Would you share your knowledge for an expensive price?
As the title said
Would you share your knowledge with proof results (track records verified myfxbook) for an expensive price? You will give the "buyers" a 30 Days money back guarantee if he follow step by step all the knowledge he receive and does not achieve results. If one trade doesn't fit to the knowledge, the guaranty will be canceled.
I will repeat : sharing your knowledge with proof results. From what I know, Internet is full of trash books without proofs.
Explain why not and explain why you would. What price would you request for the lessons ?
My answer : Depending. If I would have an urgency, yes, I would share, if not, then I would keep for myself.
I only know one legit educator. All the money he makes from tuition, goes to charity (with proof). Simply, because you can make more money when you can trade. Still, it is understandable to ask money for education, even if it goes for charity, because somehow he needs to weed out the people, he only wants students who are committed and serious about learning. I'd do the same, if I would teach.
As a young trader, I don't wanna teach. It would take so much energy and time from me, and also there is more money in actual trading.
Regarding myfxbook and trade explorer, it is very easy to fake. It should be an ongoing and long term track record. Not just something, which was done for 3 months a year ago and shows profit. The actual money can be hidden, that is secondary, all the rest of the data is important though. Also the history and the open trades should be visible, so the person can't hide his losses by letting the losers run indefinitely, and they don't show up in the stats.
Unless he can't provide both (offer money from tuition to charity, and a legit track record) it is safe to assume, that he is a scammer. No matter what bullshit he brings up. This trading education business is SO SO scammy, that the "innocent until proven guilty" doesn't apply.
In my opinion there should be an authority at FCA, and ASIC, SEC and all these commissions, which would regulate trading education. All the potential educators would apply, the commission would decide if the educator is legit or not, can he actually trade or not, etc., then it would give a certificate or something, and the people who want to learn, could look up the sufficient information about the educators in a centralised place.
Rant is over, in short, at the moment I would not teach no matter the price, when I'll become older and decide to teach, then it would be the rules I said (charity + ongiong long term track record.)
The so called "Holy Grail" is your Money Management.
OHLC said everything you need to know, just i add be careful about your Broker as well. Most of them are scam
Wish you best
I disagree with all of you guys.
There are plenty of people out there willing to share their knowledge and there are good supportive communities out there.
I do agree that there are a lot of scammers and bad communities out there as well and I also think that most people on this forum have no clue what they're talking about and people here often take advice from people that have no clue what they're talking about and they end up making dumb mistakes.
I agree that you need to ask a fee for lessons or mentoring and that there are bad ones out there but as there is bad there is also good.
I have met lots of Forex traders that I helped and they helped me as well.
Talking to other traders often helps your own trading and as usual there are people that just want knowledge but there are also people that will stick with you and actually become friends.
As for systems... There are profitable systems out there but a system that that may work for me may not work for you. We all see things differently.
People that sell systems that use a forex bot are often selling systems that end up outdated and no longer work.
Of course there are also a lot of scammers out there.
In the end you have to test any system yourself to see if it works.
Maybe a strategy only works on a certain currency pair and timeframe.
Everything can be found for free but you have to sift trough a lot of shit to get to the gems.
A system that truly works? No one is going to share that. Would you share a system that you had put together which you used to consistently pull 1% to 3% out of the market, daily?
Such a cure for cancer would be all over the news!!
We don't hear about anything like that on the news because people with such systems are keeping it to themselves and using it to make a living, for themselves.
If you are profitable with forex trading you have two options to maximise your profits:
- get a license to manage other people's money
- trade at Darwinex and get your strategy listed as Darwin
With both above options you would end up earning more from the performance fees than from your own capital. An example is the 2M AuM these guys obtained in about 1 year.
i'm new at this world, and i start trading same crypto money, and few currencies, i 'm learning watching same videos on youtube, but i don't yet find the right way coz most of time the market goes against me
i see for exemple same good traders in etoro who have a lot of copiers, they don't expain their strategy exactly, they reserve it for theirself like that they have always more copiers, then more money !
but as a bigginers i won't give up and i want really learn more and more about this world !
If someone do teach even for a price, it means whatever material that's taught doesn't mean much, shallow knowledge. You get plenty red diamond posters on ff who get hailed as guru for so-called gold nuggets teaching. It reflects poorly on the pathetic state of their student devotees who fail to recognise shallow stuff and that explains for this 95% losers. If the input is bs what do you think the output is ? If this is regurgitated over and over the internet what do you think the state of the masses info over time becomes ? BS
Also 1-3% a day is an insane return, people are usually happy with 3-5% a month. At least I would consider that a good trader.
People that are making these returns usually have their strategies as well as all the experience that is needed to execute it.
I know at least 4 profitable traders who are also educators. More info here.
everybody knows somebody that knows somebody who is profitable
By way of example -- and I'm probably one of their least successful students -- but I've been selling NZD on rallies for the last 5-6 weeks (reasons here), and despite making a couple of silly errors I'm well ahead overall. It's not a 'system', it comes from a very basic understanding of how the market would most likely respond to the outcome of the recent NZ elections. (Now as the election result becomes increasingly 'priced in', I'll look for other macro factors that provide potentially exploitable biases, possibly in other currencies........)
For most of the institutional traders that I've met, TA forms only a very limited part of their approach (confirmed somewhat by this post):
No offence to anybody, but the more I learn, the more that I come to understand that TA -- at least the type of TA that's presented in trading forums -- offers little in the way of predictive value (more here). Understandably, it's popular among folk who are predisposed to the idea that 'systems' are the best solution. Also popular are MMs like grids, nedging and martingale variants. I guess it's human nature to want to remove as much ambiguity, guesswork and uncertainty from trading as possible, and 'systems' apparently promise to do exactly that. On that topic, here is another thought provoking article:
[EDIT] Trader Dante is a fifth profitable trader whom I could have included in my list. Although I don't know Tom personally, I subscribe to his Twitter feed and have watched maybe 15-20 of his educational webinars. Bloodpoodle posted one of them here. I feel that I know TD's thought processes quite well, in the sense he confirms some of my older thoughts here (especially the futility of trading one's P/L instead of market biases, moving SL to BE, etc). Anyway, Tom has 15+ years experience, and at least 3 of those trading for a prop firm. Here is a Dante quote from the YouTube video:
Although TD uses more TA than the others (he mainly trades off S/D zones, and swing failure patterns outside of the ADR), there is some nuanced contextual analysis involved in the choice of setups that he trades.
I would never share anything important publicly. It is dangerous.
1. Bankers show no mercy. On the top of that,
2. The narco mafia money is sniffing around for good traders to legally wash their dirty cash reserves...
3. Other opportunistic animals there are of any kind, hard to predict their actions. expect nothing good from them.
4. If many traders become profitable, RondaRousy will stop posting his/her funny posts and I will miss him/her big time...
I would not look to sell at any price what I do, not because it is so valuable and special, but because what I do is subjective to a significant degree and I've arranged things to suit me. Most methods are just variations on a few common underlying basic strategies and the variations are only personalising the underlying in line with the individual's own psyche, market beliefs, risk attitudes and emotional disposition. Unless someone else happens to exactly share my personal combination of these, my method is not likely to be of much use to them as the method won't suit them well. Can't very well offer a guarantee on that basis.
The basic principles of sound trading are freely available all over this forum and the internet. If someone wants to learn to trade well, better just to read widely, observe carefully, try ideas out at a minimal size, and develop a personal method that makes sense and feels comfortable to them. Buying an off-the-shelf method from someone else isn't really going to work, regardless how good a trader the seller may be. Sure, a good trader will sell you better concepts and ideas than a bad one, but that is still not enough for you just as it stands. There is, sadly, no substitute for your own hard work, intelligent thought, and acquisition of experience.
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