So if I want to learn how to play the piano, its not worth having a piano teacher because I can find out how to play on youtube FOR FREE?
Or its not worth me going to Mandarin classes because everything I need to know can be found out on the internet FOR FREE?
How about hiring a tennis coach? Surely redundant because I can find videos on ehow which tell me just as much, if not more than a tennis coach - and whats more its free!
How about singing lessons? Lots of online singing videos for free, and I can sing all I like to One direction and hope I sound godly - don’t bother with the singing lessons of course because they cost money and are just a waste of time.
In fact, lets take it further - medical school? Bah - emedicine.com. Want to pass the bar exam for law? Don’t bother with law school - go for wikipedia.com. ITS FREE, and education is expensive these days. (I know that medical school and law school require you to to have the degree, but I think I make my general point.)
If you can learn something from a worthwhile teacher who is a good tennis player/coach, or learn from a good mandarin speaker, or a good singing coach then its worth paying for. Try learning mandarin online and see how good your speaking is, or turning up to America’s Got Talent after learning how to sing for free on the internet and seeing how much abuse you get from Simon Cowell.
Of course, forex is full of charlatans because most of them are not proven to be good tennis players, good mandarin speakers etc and simply quote ‘price action’ and draw a candlestick. Again, I know you were criticizing that Lone Wolf Trader guy, but at least he was willing to demonstrate that he can ‘play tennis’ before attempting to ‘coach it’ through the demo myfxbook (although it had no history).
That is a lot more than can be said for the likes of Chris Capre, Jonathon Fox, DNB price action, Nial Fuller, Petefader etc who do not provide myfxbooks (probably because what happened to ICT and eremarkets when they tried to prove themselves) and try to teach.
The issue is not that all teaching is worthless, but people fall for the most unqualified teachers - ie: trying to learn to speak Mandarin from someone who cannot speak it, or trying to learn tennis from someone who cannot manage a proper serve.
If you find a decent trader who can teach, then it is worth a lot of money, just like learning to sing from a proper singing coach is worth years of trying to sing by yourself.
If you say that you should not be paying for anything that is free on the internet, that is a bit overboard. Good teaching, from teachers who can teach and trade is worth the money. MoneyNVRsleeps states he spent 4000 hours trying to teach himself - and he still hasn’t earned anything. He could (as could many others) benefit from paying for a teacher but not one who does not practice what they preach.