HowardCohodas
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This kind of thing saddens me immensly.
It is small wonder that so few make it when people with such little experience decide they can make money by charging newbies for 'training'.
I do agree that it's not just method that makes someone profitable. I don't subscribe to either money management or psychology being the key. I think the key is experience combined with a feedback loop - or a journal.
You trade, you write down your observations, you make adjustments as necessary.
If your journal says 'impulse trade', 'impulse trade', 'revenge trade', 'boredom trade', then I am confident most people will overcome the issue fairly quickly. If you leave too much money on the table all the time, buy tops all the time, again - you will see the issues.
The problem though - what if you have no idea what to trade or how people trade profitably ? How do you develop a method to journal ? Would there be any point in journaling a day trading system based on MACD and Astrology ? My gut feel is that even with a feedback loop in place, you'd fall on your face because you are basing your development on faulty methods - building a house on sand.
Therein lies the problem - 99% of trainers have no idea what they are doing. I paid 3 people for education and it became obvious that one of them couldn't trade. The one that couldn't trade was full of math BS and had an ego the size of a house. Initially I thought "oddball genius" but it turned out he was "egotistical psycopath'. The other 2 were laid back 'take it or leave it' guys.
So now we have another math genius software engineer who has developed some mathematical edge and super secret trading methods he'll teach to newbies whilst he's barely out of his trading diapers himself.
Scam, rip-off, misguided - call it what you will. Just another day in the wonderful world of trading.
Assumes facts not in evidence.
Your comments make me wonder if you have read much of what I've written. Or perhaps the problem is as George Bernard Shaw once wrote, "England and America are two countries separated by a common language. BTW, what's with the false flag badge? Your badge is a US flag but the legend says United Kingdon.
None of what you postulate remotely resembles what I've described on this board about my strategy. You are usually much more perceptive, so I'm flummoxed.
I could pick apart your assertions one at a time, but I would suggest that you read a little more before I do that. Perhaps you will reevaluate your position. Otherwise, I will gladly answer each one of your assertions above. It's your call.
In my particular area of strategy implementation, I'm more knowledgeable than any one I have so far encountered on this board or among those who teach a similar strategy. I'd love to find someone with more expertise than I have to add depth to my experience. As I learned in flight school, "Learn from the mistakes of others. You won't live long enough to make all of them yourself."
Lastly, of the few students I've taught so far, the ones that are working the strategy are successful at it. And they have recommended to their friends that they take my course when it is offered "officially."