95% failure rate...

Some of them are fund managers. Not counting any that lack experience because believe it or not some with less experience than you may expect offer forex classes.
 
Ive paid good money to three different trading coaches over the years for 1-2-1 tuition. Two of them are very good and I firmly believe are also very profitable traders. The other person was - in hindsight - a complete mistake and a waste of time and money. I have no idea whether he was profitable or not, although he did live in an extremely nice London house in an expensive area and clearly wasn't short of a bob or two.
As and when I'm raking in consistent profits and I've managed to write a manual that clearly explains what I do, I intend to join the ranks of the trading coaches and sell my services at a level commensurate with the average profit I would have made had I been trading. Doubtless I'll receive mountains of grief from you lot when I do: watch out for a vendor's icon beneath my name! :cheesy:
Tim.
 
jiggly said:
those that cant do, teach
Click to expand...

I think this is true for the most part but not in all cases.

One example is Ed Seykota. An incredible trader. Produced returns in excess of 250,000% percent.

Spends a lot of time answering questions on his website for free and also makes money from trading seminars.

Even from my own perspective, I am consistently profitable and probably spend more time teaching people than I do trading. Sometimes it makes you feel good. Sometimes you get tired of it. But it's a great feeling to help somone along the path.
 
shadowninja said:
That only works if you're a day trader. Imagine teaching position trading live. Would you have sleep overs?
Click to expand...

LOL. No, you just have to teach your strategy when the market is closed and talk about entries as and when they occur. This is, in effect, what I do...
 
I dont know where that figure came from but I think is true.Did someone phone them all up and the 95% said " yes im crap".
My main gripe with mentors is that most dont trade live or show accounts. I spent some money in the early days. There are some real cowboys out there who are still earning £1000s everyweek.Even most of the biggest names are useless,prove sod all and sell courses based on historic results.Most what you will ever need is on this site.If a mentor has mixed reveiws on the site it is very likely he is in the 95% as as with most training you come away feeling great and are happy to post positive cooments only to realise later you have been duped. Thats not to say that spending a few 100 quid with someone who knows more than you is a waste of time. To some people if they were given the rolls royce of trading systems they would still crash through ill discipline and bad money management.
It would be great if there was live T2win trading room where all the mentors had to pass a live 2 week test before getting a gold star site approval. Any of you guys prepared to do that?[/SIZE]
 
julian said:
It would be great if there was live T2win trading room where all the mentors had to pass a live 2 week test before getting a gold star site approval. Any of you guys prepared to do that?[/SIZE]
Click to expand...

I think it would be a great idea if they made half the people that give advice on this forum pass a live 2 week test.

But you won't find many people that would put their neck on the line.

That's why I respect people like Grey1 who teach others under live conditions. This is the only way to test if a trader can walk the walk. What their P&L is and how much they risk to make it.

People are quick to damn others for using large stops or relying only on fundamental analysis or trading using simple candlestick patterns or whatever but P&L is ultimately, the only judge.
 
that would be a good idea but the forum would soon die!!!!!!!!!!!!!
 
Could be a good idea though for those that want to take part.

An independent moderator will preside over a 2 week trial for members that wish to spend the time "proving themselves" and they can get a little badge of honour.

At least people could then know who can actually hold their own in the markets (even if only for 2 weeks) rather than talking all the time.
 
I would like to put my good self forward for such a challenge.

It would be interesting to see how a wet behind the ears novice performs against the big guns :p
 
trader_dante said:
Could be a good idea though for those that want to take part.

An independent moderator will preside over a 2 week trial for members that wish to spend the time "proving themselves" and they can get a little badge of honour.

At least people could then know who can actually hold their own in the markets (even if only for 2 weeks) rather than talking all the time.
Click to expand...

Does it have to be going forward, or would a member be able to post their trades over the last two weeks or longer to get the 'badge of honour'?

Edit:

Also, maybe it would be worth doing it on the number of trades rather than a time period. I think sample size of trades would be more important than the time period. To judge a mutual fund manager who makes a few trades a year, you need 5 - 10 years to really get an idea of their ability. Whereas, a day trader making several trades a day could prove themselves within 6 months or so.
 
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