This is a new blog and I started it with the express intention of saying things about trading issues without worrying about staying politically correct. It is, in many respects, a liberating experience. Sometimes I must curse, out say things that people don’t want to hear, or be downright pernicious. If those type of things bother you, this probably is not a blog you want to read.
I’ve run my own trading education program for eight years and for seven of those years I simply concentrated on my own program with little regard for what else is happening in the trading education community. But reading several of the review sites has opened my eyes to the psychology of trading educators in this business.
I realized that I am in a business that has a trust rating well below used car salesmen and somewhat akin to the old Nigerian Letter Scams.
My eyes were opened when a colleague suggested that I utilize PR bots to give the illusion that there were several hundred people in my room instead of the usual 10-20 traders. That didn’t make sense to me because it is deceptive.
During the last few months, I have learned the depths trading programs sink to entice new traders to part with exorbitant amounts of money for a dream these slime balls are peddling.
Many programs are designed to entice the uninitiated into buying into that false dream. In reality, these trading educators present generic trading information that any simple google search could turn up. To make matters worse, these programs offer little or no support when the trader tries to implement the programs that are usually based upon 1970’s style lagging indicators and try to shoe-horn traders into thinking they have found the holy grail. Nothing could be farther from the truth.
To my personal dismay, many of these programs are a basic rehash of generic information that will not serve the new trade well. It’s little wonder that half the trading population is furious about the integrity of trading educators.
To add insult to injury, it is not uncommon for trading educators to repackage these generic indicators into proprietary trading indicators and charge $500-1000 dollars for something that is probably in the list of free indicators most trading platforms offer.
Yea, many players in this business earn a good deal of money without the slightest regard for personal integrity. Look, I was a Wall Street trader for several decades and thought I’d seen every low-down method of cheating in the solar system.
These rogue internet trading educators make the Wall Street crowd look like choirboys.
It’s all about the money, boys and girls. It’s not about learning to trade.
I don’t want to leave the impression that every trading educator is a crook. There are ample numbers of conscientious trading educators out there. But there is an astronomical number of shit bags who don’t trade or make videos on Market Replay and present them as real trading. I’m calling bullshit on these scum buckets.
No comments:
Post a Comment