A quadruple “Like” from me.
And the only way to go.
People get upset with me of late because of my comments re: regurgitation of the same old same old. But it’s of use to no bugger. And I’ll bet that a huge proportion that post these inane posts (which may or may not be posted with good intent) don’t even know how to implement the regurgitation in a practical sense.
And let me add:
My self righteous attitude to this business of everything must be for free or else is nonsense and it has become all too clear to me since being back here. So you know what: if you know what you’re doing and are not a scam artist and can help even a few trade profitably by coaching them on specifics (and by that I mean to follow a trading system or methodology that you yourself trade profitably on a daily basis): then go for it. Mentor and charge for it and there you go. Job done. I for sure am now working on something like this.
And you are quite right about something else i.e. you’re not going to save everybody. You can take ten people and coach and mentor and train on a specific trading system or methodology and I’d wager that at least five will STILL fail for the reasons you’ve mentioned. And that’s just unfortunate. And that is EXACTLY what happened with the Turtle Experiment. A more clearly defined trading system or methodology you could not find even if you looked hard. Some went on to make a lot of money. Others wiped out. It is what it is.
And of course there’s the age old argument (which unfortunately I myself have spent years perpetuating in error): if you’re making money trading well then why not just share for free (conversely the belief is that you cannot be making money from trading hence the charges). Nonsense. I trade for a living. Consequently I have to withdraw money every month from my trading account to live and pay the bills. With additional income from training and mentoring: I’d not have to do that and could simply grow position sizes. And something else I’ve noticed is that this issue of charging for training and mentoring seems to be a far bigger issue in the FOREX market as opposed to the Equities market. I don’t know if that’s just because there’s more budding FOREX traders around or if it’s because the scam artists know that for the most part your budding retail spot FOREX trader isn’t quite as switched on or is more gullible or what. But I can tell you that there are professional (well known) Equities and Commodities traders that charge FORTUNES for this and nobody has issues with THEM. Some sell indicators in the hundreds and even THOUSANDS of USD. But alright: they’ve been around for a while and have proven track records of course. And maybe therein lies some differences. But that being said: you can SEE them trade. And they give SPECIFICS not pie in the sky regurgitated BS that nobody can understand or that leaves so much to interpretation that there’s just no point.
And before I start a riot or become inadvertently complicit in some scam or the other: the above is not an invitation to you budding signal providers (you know who you are) to start your BS on these forums. Even IF your signals are good: you’re still not helping anybody i.e. nobody is being taught or learning anything from taking or being given signals. And let’s face it: anybody that’s happy to just get signals isn’t serious about learning to trade and is just trying to take a shortcut.
So there you have it i.e. the new world according to me. For now.