Did ICT do one on one training sessions? LOL. How much did he charge? Sign me up straight away!
Of course the reason why they were not paying for was that he was a failure and not a real trader - obviously not worth paying for. I am talking about a trader who is successful (with a proven account) who is willing to teach.
One point Ilovepizza - I notice that you are assuming what is being said in our theoretical one to one session (ie: verbally summarising what you can find online for free) whereas this is not necessarily the case - they could be saying something very different.
Actually a second one - I did like your challenge of ‘finding something online that is taught in a paid course that cannot be found for free online’ because it was impossible to win - because if something can be found online and displayed on the forum, therefore it can also be found online for free (because the only source that someone can easily get to is online, and they would have to be drawing from an online free source).
Anyway, you are assuming what a teacher teaches in his sessions. What if a teacher taught something radically different from perceived notions of trading? As you know ‘price action’ is the big thing these days so much so that indicator trading techniques are looked down upon - what if a teacher taught an indicator based technique or other unfashionable technique that was no longer emphasised and it was a good technique? Although they could be found online, they are swamped by mastergunner type techniques and constantly rubbished on forums so a reader would not think to use them.
I think the first stage can be taught faster with a teacher than can be taught alone - teaching, asking questions usually locks in information faster than just reading. I found tutorial sessions at university helpful, even though the material was available for free through lectures, lecture notes and the bookstore. Plus someone just reading can miss vital parts of the key concepts or misunderstand them. I know someone who traded using fibonacchi lines upside down for months. Lots of other examples where teaching would quickly sort through mistakes and make sure that all the information was covered with the right emphasis.
The second stage, as you put it: here the feedback would be important to clear up misunderstandings, to review new situations (which always arise), to perfect new ‘systems.’ I also think that there are more stages in learning but I won’t go into that.
Lets say you are trading with a $100 000 deposit, making $5000 per month once you have learned your stuff. If you are self taught then it might take you 12 months. If teaching can shave 3 months off that time, it ‘saves’ you $15000. It also cuts costly mistakes which might save you even more. Lets say you pay $2500 in teaching fees you are making an ROI of 500% on your teaching investment which is really good. A great investment I am sure you agree.
Of course, if you trained with ICT it would INCREASE your training time by several months so you would be losing money so it is not worth it. So you need a good teacher, not an unproven one.