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"good traders trade, bad traders teach"

  • #141
  • Aug 1, 2017 9:18am Aug 1, 2017 9:18am
Quoting Madinvestor
{quote} It sounds like his mistake was trying to compound all the winnings in the trading account. Withdrawing profits is actually an understated risk management strategy. Not only for risk of unexpectedly bad trades, but against broker risk! I withdraw my profits weekly, as I do not trust any broker.
simple choose better broker, where you can bring your broker risk outside the broker. by buying bonds, shares, if expansive way by bank guarantee....
  • #142
  • Aug 1, 2017 9:34am Aug 1, 2017 9:34am
Quoting Madinvestor
{quote} It sounds like his mistake was trying to compound all the winnings in the trading account. Withdrawing profits is actually an understated risk management strategy. Not only for risk of unexpectedly bad trades, but against broker risk! I withdraw my profits weekly, as I do not trust any broker.
Yes, this indeed was one of the many problems here. First off, he wanted me to high risk trade the account which was a problem in itself. My (past) buddy of course wanted to compound these profits as well. The broker was just too small to handle a $500k withdraw. My buddy's withdraw attempt was what caused Belforfx to run.

It's a very interesting but sad story about how easy it is for brokers to just fall off the grid when they want to. Belforfx was impossible to find. Crook brokers know how to shield themselves from hunters.

I saw all the warning signs well before they ran and my friend wouldn't listen. I caught them many times trying to manipulate my price so I would lose the account. They couldn't shake me haha! I've since stopped trading like this.
  • #143
  • Aug 2, 2017 12:56am Aug 2, 2017 12:56am
those who teach for a fee are not traders and those who teach for free are newbies who just want to make friends on forums.
  • #144
  • Aug 2, 2017 10:04pm Aug 2, 2017 10:04pm
Yeah, Forex Trading is quite beneficial for those who obtain proper amount of knowledge and experience and trade with utmost seriousness, else it is just an money wasting machine.
  • #145
  • Aug 2, 2017 10:20pm Aug 2, 2017 10:20pm
I think I have to defend some teachers. There is the type, which teaches the basic things, not superwinermakerichnow strategies. They teach the beginners how sl/tp/commission works, what kind of indicators most of the traders use, what to keep in mind choosing a good broker . . . I think this is ok. The problem begins with the marketing, when someone claims that he gives more than he can offer. And there are too many courses, which belong this type.
Only my scepticism keep me from being an atheist. Be sceptic ever.
  • #146
  • Aug 3, 2017 1:57am Aug 3, 2017 1:57am
There is nothing wrong in teaching people to trade at a reasonable price. There is a huge difference between reading and applying a strategy successfully. Dan Zanger made millions in the Stock Market and he offers a trading course. Teaching is a business, and there is nothing wrong in supplementing your income.
  • #147
  • Aug 3, 2017 2:22am Aug 3, 2017 2:22am
Quoting ThugLife
There is nothing wrong in teaching people to trade at a reasonable price. There is a huge difference between reading and applying a strategy successfully. Dan Zanger made millions in the Stock Market and he offers a trading course. Teaching is a business, and there is nothing wrong in supplementing your income.
I think the argument a lot of people are trying to make on this thread is that anyone with a high level of trading success does not need to supplement their income by teaching as it would be the less profitable endeavor. Why spend their time making less potential money? Just to diversify their income?
  • #148
  • Aug 3, 2017 3:04am Aug 3, 2017 3:04am
Quoting Madinvestor
{quote} I think the argument a lot of people are trying to make on this thread is that anyone with a high level of trading success does not need to supplement their income by teaching as it would be the less profitable endeavor. Why spend their time making less potential money? Just to diversify their income?
sharing a complete system is a bad idea, because as it becomes popular you may start getting negative slippage.

I would only share general info or just make people laugh, because I noticed that when I'm truthful and positive I feel like I'm on top of the world... it's a spiritual thing I do for myself.
  • #149
  • Edited 5:14am Aug 3, 2017 4:53am | Edited 5:14am
Quoting ThugLife
There is nothing wrong in teaching people to trade at a reasonable price. There is a huge difference between reading and applying a strategy successfully. Dan Zanger made millions in the Stock Market and he offers a trading course. Teaching is a business, and there is nothing wrong in supplementing your income.
with his very high drawdowns i would not take him as example (you need a lot of luck with this simple trading style) , and trading in bubble markets is something special , you cant find in currencies this way. but if you wait some months, always some with this simple trading style will win big, same time many thousand lose small and big. you can also go to buy in a lottery.

finding again some bubbles, where near all share rise and later near all fall (like tech bubble), you can wait many many decades. his normal trading in "normal" times dont look this impressive. he did ride a lucky bubble time, many got extrem rich in this time. it was a big luck for many, but telling this a trading system not many did, most know what it was. but he tried to sell this to others, and you find enough blinded people very easy (many thousand) who dont know basics and math, so you can even teach and get money when you only got more lucky then other persons in a lucky trading bubble market. we see this in forexfactory in small very often. many trade martingal or with no sl and win big (often ofcourse fakes , because in many accounts only posted best account or connected to myfxbook or other), people with no math knowledge follow them, and then lose all.
  • #150
  • Aug 3, 2017 4:56am Aug 3, 2017 4:56am
Quoting sinusgamma
I think I have to defend some teachers. There is the type, which teaches the basic things, not superwinermakerichnow strategies. They teach the beginners how sl/tp/commission works, what kind of indicators most of the traders use, what to keep in mind choosing a good broker . . . I think this is ok. The problem begins with the marketing, when someone claims that he gives more than he can offer. And there are too many courses, which belong this type.
the problem is, many do it wrong and not deep enough, they know math by their own only in basics. maybe all do it wrong who teach, they would have won so much and would not teach , when they would know it better.

only half baked information is often more bad then no information.
  • #151
  • Aug 3, 2017 2:16pm Aug 3, 2017 2:16pm
Quoting HeyYou
those who teach for a fee are not traders and those who teach for free are newbies who just want to make friends on forums.

I could spend 8 hours today making a video course that pays me $100,000+ over the next years.
And you say that's not worth a traders time?

I trade to make money. This idea that traders ONLY trade is absolutely insane.
I have automated income from many sources. There's absolutely no reason not to.

Life isn't about sitting in front of a computer 10 hours a day. If you can, design an EA to trade for you.

Most swing traders have other business ventures. High frequency scalpers may not have time for that but still.


Also this idea that teaching someone a strategy is going to cause slippage is ridiculous. The market trades the way it trades. It will always trade that way.

If people attempt to trade it any other way, they will lose money. The profitable strategies work because they are self fulfilling prophecies.
Be hopeful in a winning position, and fearful in a losing position.
  • #152
  • Aug 3, 2017 2:32pm Aug 3, 2017 2:32pm
Quoting Rag2RichesFX
{quote} I could spend 8 hours today making a video course that pays me $100,000+ over the next years. And you say that's not worth a traders time? I trade to make money. This idea that traders ONLY trade is absolutely insane. I have automated income from many sources. There's absolutely no reason not to. Life isn't about sitting in front of a computer 10 hours a day. If you can, design an EA to trade for you. Most swing traders have other business ventures. High frequency scalpers may not have time for that but still. Also this idea that teaching...

if you take a look at those pathetic forum gurus, they all fail, they are suicidal, no exception.

You have to invest serious money to make serious money, no exception.

there's no exception in this world.
  • #153
  • Aug 3, 2017 2:34pm Aug 3, 2017 2:34pm
btw negative slippage is a reality that I experience every f day..
  • #154
  • Aug 3, 2017 7:29pm Aug 3, 2017 7:29pm
That is not true for every trader, there are good traders who are teaching too. Bad traders are also here but not all are that bad. I think mix up of everything.
  • #155
  • Aug 3, 2017 7:59pm Aug 3, 2017 7:59pm
There are legitimate traders who teach but there are none here in these infamous threads. Most of us have sought and found nothing here that teaches true price action and structure. Most leap from one strategy, method or system to another over and over and over. Indicators are a tool to reel in the ignorant who know nothing about price action/structure. When your tired of finding the holy grail here in these threads then you may expand your search beyond. Formal education is not free. Formal trading education is not available here. If you thought I was going to tell you where to get a proper trading education you were wrong. But i will tell you the quest for a trading method, system or strategy is futile. Instead invest in a trading education. The biggest tip is to stop looking in these threads. LOL. See ya!!!
  • #156
  • Aug 3, 2017 8:03pm Aug 3, 2017 8:03pm
There's a compass fx course that is taught by a great trader and teacher. He trades live for a large firm and explains stuff you'd never get from the average Joe. If you want to be a good trader the best thing to do is find a mentor... Otherwise you'll blow out account after account trying to figure things out. You are trading against hopefully with- the best in the world and they make bad trades all the time. So how do you compete- find good teacher, learn a system and don't stop till you have perfected it. Wash rinse repeat day in day out till making money with confidence is second nature. Scott Barkley is also a great trader and teacher i've done a bunch of courses and these 2 guys stick out as worth while. I'm not being paid to endorse anyone just do your homework if you want to do this for a living you need a mentor
  • #157
  • Aug 3, 2017 8:37pm Aug 3, 2017 8:37pm
Quoting ezmonyfx
If you want to be a good trader the best thing to do is find a mentor... Otherwise you'll blow out account after account trying to figure things out.
I liked your post, because a good mentor is never a bad thing. However, I disagree with the account blowing part. If one is not about to give it up, the account blowing part is actually a good thing, if one can live with that and can properly handle it...
Maadik Hugiis. IQ 69.
  • #158
  • Aug 4, 2017 12:55am Aug 4, 2017 12:55am
Quoting MoneyZilla
{quote} I liked your post, because a good mentor is never a bad thing. However, I disagree with the account blowing part. If one is not about to give it up, the account blowing part is actually a good thing, if one can live with that and can properly handle it...
one day you will realize that it's not easy to blow an account. My account is still alive after one month of super high risk tradingambling... wtf
  • #159
  • Aug 4, 2017 1:00am Aug 4, 2017 1:00am
Quoting HeyYou
{quote} one day you will realize that it's not easy to blow an account. I'm risking a lot and the account is still alive after one month... wtf
I was referring to account sizes, acceptable for each individual. For some, that might be $1,000 USD, for others it might be $50,000 USD or even higher. When you learn, better stay on demo, till ready. That is not we all precisely do, don't we?
Maadik Hugiis. IQ 69.
  • #160
  • Edited Aug 5, 2017 12:53am Aug 4, 2017 1:05am | Edited Aug 5, 2017 12:53am
Quoting MoneyZilla
{quote} I was referring to account sizes, acceptable for each individual. For some, that might be $1,000 USD, for others it might be $50,000 USD or even higher. When you learn, better stay on demo, till ready. That is not we all precisely do, don't we?
Yeah, I mean can you grasp the irony.. when I focus on making money, I blow the account.. when I focus on losing money.. I just can't blow the account. my previous "lose money fast" account lasted 5 months lol
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