… there are so many so called forex gurus out there like Raghee Horner, Nial Fuller … are these guys profitable themselves? If so, then why would they write books, charge for courses etc?
Also, most brokers offer advice and highlights from their own forex analysts. Surely if these guys were so good, they would go it alone and make a mint?
Something doesn’t add up, so if someone can clarify …
Brokers offer advice to drive more trading volume. Money managers talk markets to attract more money. And sometimes people write books, blog, contribute to forums, etc. for psychic benefits.
To quote The Joker:
[I]“If you’re good at something, never do it for free”[/I]
Going it alone doesn’t appeal to everybody. Financial & personal circumstances don’t always favor an independent stance.
Not everyone has ambitions to risk their own money in the markets. Some of these corporate analysts, risk managers, prop traders & sales guys make shed loads of money via good basic salaries & substantial performance related bonuses.They also enjoy exceptional benefit packages that reflect their competence, experience & skill sets.
They would require an extremely large self funded pot to get anywhere near equal to the amount most of them have access to in order to deal on during a typical business day.
Why risk your own dough when you can simply trade other folks. They have access to the types of back-up & additional resources that you can only dream about. Retailers with the financial clout to go toe to toe with your average corporate trader are as rare as rocking horse s*it.
Raghee Horner is a blogger here on baby pips. I have seen some of her stuff dont trade her setups or anything but interesting perspective. Nial fullers system i have also taken, great if your a novice to be at least on the right path. But his systems success rate leaves a lot to be desired, overall haven’t used either of their information to create my system. Which has a substantially larger win rate than Nial fullers.
Multiple income streams & greed.
I was at a well publised forex seminar a few weeks ago & the leader of the
seminar stated that he had in fact placed a trade this morning which was
running as we spoke.
I also had a trade going at the same time.
Hypothetically I run a chain of coffee shops which earn me a good living,
I really enjoy the work. But I also have a need to stretch myself in other
directions, take a university degree, learn forex & maybe make some extra
cash, invest in a training scheme etc.
Who says I have to do these things one at a time?
If one of the projects hits the wall or has a slow time then the slack can
be taken up by another part.
Why do actors, who are as rich as croesus, keep acting, or turn to directing,
or producing?
Multiple income streams.
Not all training schemes are right for all, it is up to the individual to do
their own research & due diligence. There are some good schemes out
there though.
When this kind of stuff comes up I tend to ask myself:-
Do the best carpenters make the best carpenter trainers?
and
Do the best trainers make the best carpenters?
or whatever trade.
There is that saying of ‘Those who can’t teach!’, yes it’s a sarcastic comment, but is teaching exclusive to those who can?
I think a lot of the times your right. There are reasons to why they are selling courses etc. I would be looking for a proven track record, and once you have that, then you could probably assume they are doing it to keep themselves somewhat busy, help others, it can give good credibility for managed accounts etc… im sure there are lots of reasons. Kinda like why does letterman still do the late show? He doesn’t need the money, but he loves to do it 