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"good traders trade, bad traders teach"

  • #1
  • First Post: Jan 5, 2014 9:15pm Jan 5, 2014 9:15pm
What are the reasons one should pay for a forex course? I'd like some genuine reasons since it makes sense that "good traders trade, bad traders teach"?

Obviously if someone teaches for free it is completely different but I'm talking about all these paid courses - what are the reasons that justify making it worth a trader's time to earn money from teaching rather than trading?

Your thoughts please!

Chace
  • #2
  • Jan 5, 2014 9:18pm Jan 5, 2014 9:18pm
Quoting Chace
What are the reasons one should pay for a forex course? I'd like some genuine reasons since it makes sense that "good traders trade, bad traders teach"? Obviously if someone teaches for free it is completely different but I'm talking about all these paid courses - what are the reasons that justify making it worth a trader's time to earn money from teaching rather than trading? Your thoughts please! Chace
Maybe for the same reasons that good mathematicians do maths and bad mathematicians teach maths ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #3
  • Jan 5, 2014 10:18pm Jan 5, 2014 10:18pm
Quoting FerruFx
{quote} Maybe for the same reasons that good mathematicians do maths and bad mathematicians teach maths ...
Lol I am asking a serious question as it is boggling my mind.

Good mathematicians usually get paid more to teach mathematics than to do mathematics so it's worth their while,

where as trading is more worthwhile to do than to teach how to do it - trading is one of the few things that won't pay you more for teaching it since it is easily scale-able if you know how to do it successfully.

In other words people get paid to teach all sorts of things, but getting paid to teach how to get paid wouldn't be necessary since they can use their knowledge to get paid without needing to teach it...
  • #4
  • Jan 5, 2014 10:29pm Jan 5, 2014 10:29pm
One does not have to be a good trader to be a good teacher.

How did you arrive at the conclusion that only bad traders teach? There are plenty of good ones around.

For some education is a diversion from boring realities of trading. It can be rewarding to see some of students succeeding. It often helps the very teacher to advance own skills.

For some education becomes a good side business generating fairly reasonable share of revenue. Why do you think a good trader should be forgoing it, especially if they enjoy teaching?
  • #5
  • Jan 5, 2014 10:41pm Jan 5, 2014 10:41pm
Quoting grin
One does not have to be a good trader to be a good teacher. How did you arrive at the conclusion that only bad traders teach? There are plenty of good ones around. For some education is a diversion from boring realities of trading. It can be rewarding to see some of students succeeding. It often helps the very teacher to advance own skills. For some education becomes a good side business generating fairly reasonable share of revenue. Why do you think a good trader should be forgoing it, especially if they enjoy teaching?
I should have made it clear that I mean teach for money. Anyway that's a good point thank you.
  • #6
  • Jan 5, 2014 10:45pm Jan 5, 2014 10:45pm
1st of all there are no good traders and no bad traders particularly! Few people looses money on a trade=some people earn money. so imo those who earn will count ans good and those who lost are bad right? I don't know any trader who didn't lost a pip in his career!

If you can change it to "good Trade earns,bad Trade teach" then this will have some meaning imo!
  • #7
  • Jan 5, 2014 10:55pm Jan 5, 2014 10:55pm
Quoting grin
One does not have to be a good trader to be a good teacher. How did you arrive at the conclusion that only bad traders teach? There are plenty of good ones around. For some education is a diversion from boring realities of trading. It can be rewarding to see some of students succeeding. It often helps the very teacher to advance own skills. For some education becomes a good side business generating fairly reasonable share of revenue. Why do you think a good trader should be forgoing it, especially if they enjoy teaching?
Regardless of the profession anyone chooses, isn't the goal of a career to do your best? To be so good you can teach it? Trading Included?

A quote from my mentor:
"When You Learn, You Grow... When You Teach, You Know"
  • #8
  • Jan 5, 2014 10:56pm Jan 5, 2014 10:56pm
No comment.............
The More You Learn, The More You Earn.....
  • #9
  • Jan 5, 2014 10:57pm Jan 5, 2014 10:57pm
Quoting forexalien
No comment.............
That's a good point !
MT4/MT5 EAs/Indicators/Alerts coder
  • #10
  • Jan 5, 2014 11:35pm Jan 5, 2014 11:35pm
"good traders trade, bad traders teach"
Some good traders not only trade but also teach.
  • #11
  • Jan 5, 2014 11:47pm Jan 5, 2014 11:47pm
I would suggest you to never go to those paid seminar/courses....
Study the market from its direct source: Price Action and News

Spend your time to browse charts and take notes of your progress....
Study the Trend, S/R, and momentum, and how PA reacts to certain News or S/R points....

No Shortcuts: Hardwork, Discipline and patience are a must if you want to be successful in trading forex (or in any other things in our life)

Good luck
Failure leads to Success if one learns from mistakes and never give up
  • #12
  • Jan 6, 2014 8:33am Jan 6, 2014 8:33am
Some good points guys.

Thank you for those who replied (even the sarcastic ones!), you've helped me get my answer.

I now feel confident throwing down a couple of grand on a teacher/course knowing they will teach me to become as profitable as them. Obviously it relies on me putting in the hard work myself - which I certainly will since the rewards are worth it.

All the best to those striving for the same, and congratulations to those who are already there.

Chace

Edit: obviously there are some bad courses out there so part of the work is researching before hand
  • #13
  • Jan 6, 2014 8:49am Jan 6, 2014 8:49am
Quoting Chace
Chace Edit: obviously there are some bad courses out there so part of the work is researching before hand
Exactly.
MT4/MT5 EAs/Indicators/Alerts coder
  • #14
  • Jan 6, 2014 9:00am Jan 6, 2014 9:00am
Quoting Chace
Some good points guys. Thank you for those who replied (even the sarcastic ones!), you've helped me get my answer. I now feel confident throwing down a couple of grand on a teacher/course knowing they will teach me to become as profitable as them. Obviously it relies on me putting in the hard work myself - which I certainly will since the rewards are worth it. All the best to those striving for the same, and congratulations to those who are already there. Chace Edit: obviously there are some bad courses out there so part of the work is researching...
Make sure you see their verified trading statement. You're paying, so let them show their credentials.
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #15
  • Jan 6, 2014 9:10am Jan 6, 2014 9:10am
Weigh the options:

Pay someone a couple of grand to teach you to be "as profitable as they are".

or

Pay a couple of grand - actually trading - and experience the ride yourself.

The second option, in my opinion, is worth a hundred of the first option.

Diff'rent strokes, I suppose.
  • #16
  • Jan 6, 2014 9:13am Jan 6, 2014 9:13am
Anyone who charges a subscription or a fee for teaching is a failed trader. Simple as. If they were great traders they would be millionaires and would not need to charge fees or run courses!

Forex factory has many traders who start threads proclaiming to help newbies for free out of the goodness of their heart, then after 6 months building up rep, suddenly go commerical as its only fair they get money for their time

One guy on here duped so many people he stole $10,000's from them.

The greatest advice as a new trader do not trust anyone here and do not ever pay for learning/trade signals!!!!
  • #17
  • Jan 6, 2014 9:28am Jan 6, 2014 9:28am
Quoting Bilstein
Weigh the options: Pay someone a couple of grand to teach you to be "as profitable as they are". or Pay a couple of grand - actually trading - and experience the ride yourself. The second option, in my opinion, is worth a hundred of the first option. Diff'rent strokes, I suppose.
Yeah I know what you're saying and hands on experience cannot be substituted. Maybe split it and do both - if you find a course worth taking, otherwise using the money (that you can afford to lose of course) on just trading is a very good idea.
  • #18
  • Jan 6, 2014 9:34am Jan 6, 2014 9:34am
Quoting el_duende
Anyone who charges a subscription or a fee for teaching is a failed trader. Simple as. If they were great traders they would be millionaires and would not need to charge fees or run courses! Forex factory has many traders who start threads proclaiming to help newbies for free out of the goodness of their heart, then after 6 months building up rep, suddenly go commerical as its only fair they get money for their time One guy on here duped so many people he stole $10,000's from them. The greatest advice as a new trader do not trust anyone here...
Yep that's the premise I had when I opened this thread, hence why I wanted suggestions as to why someone good at trading would actually teach trading for a fee. There were some good reasons written above as to why, what do you think of those?

That is terrible - I think I know one of the threads you are talking about. Thanks for the advice it certainly does pay to be careful.
  • #19
  • Jan 6, 2014 9:42am Jan 6, 2014 9:42am
I just see way too many would-be traders - especially on forums - who waste too much time and money on "learning" as opposed to putting the money to work doing what it is they intend to do; trading. Continuing education (always learning) isn't a bad thing, but it isn't something you have to pay money for. El_Duende said:

Quote
If they were great traders they would be millionaires and would not need to charge fees or run courses!

I think more along the lines of;

If paying for courses and forex forums were so valuable, there'd be far more success stories among traders here and, well, anywhere really.

The reality is considerably different.

I was a mortgage broker for a short while before the housing crash here in the states and I'll tell you this; there's more money to be made selling crap (advertising and education) to mortgage brokers than there is in actually being a mortgage broker.

But that's just me, if paying for a course gives you the confidence you need, more power to ya. Personally, I found no value in demo trading or courses. Success came my way when I just started doing it and accepted the reality; losing money is the cost of doing business, not paying for robots, indicators, trading courses, etc.
  • #20
  • Jan 6, 2014 9:46am Jan 6, 2014 9:46am
I've seen quite a few good traders who are also good teachers. There's one popular thread here that's been here since 2005 which has a paid forum run by good traders who teach. I'm sure there are plenty of people ready to jump all over it screaming all kinds of blue murder but the test of time is what it is.

Also one thing I've noticed is that more scammy people need to prove themselves by posting up statements and 'proof' where the people who are the real deal don't give 2 shits whether you believe them or not as their rep speaks for itself.

A good reason for traders to also teach is that good or not we don't al start out with a big enough account to make good money with sensible risk. Trying to trade a small account up to a big one in a short time is for impatient losers. Building a big account in a short time without excessive risk requires another source of capitalisation.

Also if a trader is in a position to help others then why not if that's what they want to do and want to diversify their income?

Just do your due diligence and don't fall for silly promises or hype or 'proof'.

Nothing at all wrong with paid high quality training that's proven to work for others
Anything can happen.
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