How much money and time have you spent on education?

[darktone]

ive never physically seen it but I know its there

 

[Chalky_trader]

It was six men of Indostan,
To learning much inclined,
Who went to see the Elephant
(Though all of them were blind),
That each by observation
Might satisfy his mind.

The First approach'd the Elephant,
And happening to fall
Against his broad and sturdy side,
At once began to bawl:
"God bless me! but the Elephant
Is very like a wall!"

The Second, feeling of the tusk,
Cried, -"Ho! what have we here
So very round and smooth and sharp?
To me 'tis mighty clear,
This wonder of an Elephant
Is very like a spear!"

The Third approach'd the animal,
And happening to take
The squirming trunk within his hands,
Thus boldly up and spake:
"I see," -quoth he- "the Elephant
Is very like a snake!"

The Fourth reached out an eager hand,
And felt about the knee:
"What most this wondrous beast is like
Is mighty plain," -quoth he,-
"'Tis clear enough the Elephant
Is very like a tree!"

The Fifth, who chanced to touch the ear,
Said- "E'en the blindest man
Can tell what this resembles most;
Deny the fact who can,
This marvel of an Elephant
Is very like a fan!"

The Sixth no sooner had begun
About the beast to grope,
Then, seizing on the swinging tail
That fell within his scope,
"I see," -quoth he,- "the Elephant
Is very like a rope!"
And so these men of Indostan
Disputed loud and long,
Each in his own opinion
Exceeding stiff and strong,
Though each was partly in the right,
And all were in the wrong!

MORAL,

So, oft in theologic wars
The disputants, I ween,
Rail on in utter ignorance
Of what each other mean;
And prate about an Elephant
Not one of them has seen!

--John Godfrey Saxe (1816-1887)

And the blind men tell what they know to be true and charge for the information.. :smart:

 

[dratsum]

It was six men of Indostan,
To learning much inclined,
Who went to see the Elephant
(Though all of them were blind),
That each by observation
Might satisfy his mind.

The First approach'd the Elephant,
And happening to fall
Against his broad and sturdy side,
At once began to bawl:
"God bless me! but the Elephant
Is very like a wall!"

The Second, feeling of the tusk,
Cried, -"Ho! what have we here
So very round and smooth and sharp?
To me 'tis mighty clear,
This wonder of an Elephant
Is very like a spear!"

The Third approach'd the animal,
And happening to take
The squirming trunk within his hands,
Thus boldly up and spake:
"I see," -quoth he- "the Elephant
Is very like a snake!"

The Fourth reached out an eager hand,
And felt about the knee:
"What most this wondrous beast is like
Is mighty plain," -quoth he,-
"'Tis clear enough the Elephant
Is very like a tree!"

The Fifth, who chanced to touch the ear,
Said- "E'en the blindest man
Can tell what this resembles most;
Deny the fact who can,
This marvel of an Elephant
Is very like a fan!"

The Sixth no sooner had begun
About the beast to grope,
Then, seizing on the swinging tail
That fell within his scope,
"I see," -quoth he,- "the Elephant
Is very like a rope!"
And so these men of Indostan
Disputed loud and long,
Each in his own opinion
Exceeding stiff and strong,
Though each was partly in the right,
And all were in the wrong!

MORAL,

So, oft in theologic wars
The disputants, I ween,
Rail on in utter ignorance
Of what each other mean;
And prate about an Elephant
Not one of them has seen!

--John Godfrey Saxe (1816-1887)

Thanks for sifting thru years of history to find that gem and also the quote below by Wyckoff.

There are those who think they are studying the market, when all they are doing is studying what someone has said about the market, not what the market has said about itself.

--Richard Wyckoff

 

[progix]

I guess money spent on education is also like investment which yields returns on the basis of what you have invested on it. Those who have become billionaires now did paid attention toward their personal development.

 

[Bob Brown]

It's not about how much you spent, its about what you got for what you spent. Until you have a deep understanding of the previous statement you are the sucker in every market you participate in. What did you get for your 7000 is the better question? I haven't spent that much on explicit "trading education" and I have been in the sport for 10 years as of this summer.

Very good point! My original question was purely curious, so no need to judge spent money as good or bad thing.
But to give you an answer I do feel that portion of my 7k was spent poorly and I didn't get what I paid for. On the other hand, mainly with books I got many times more from them than I've paid.

 

[Bob Brown]

I spent very little and read a lot of books. After a lucky streak it went pear shaped for a few years.

How much did that cost me? 3 years of no income, 3 years with a bleeding account. if i could have payed to shorten those years how much would it have been worth it to me? a tough question because there are no guarantees.

The problem is, and this is just my 2 pennyworth, i believe that most of the training outfits are run by failed traders who can talk the talk, but cant walk the walk so to speak and that is why they set up a training business. Maybe my short sightedness cost me during that period but i have friends who have paid up for training and been none the wiser.

Good luck with your learning period its a tough time which ever way you choose to go , my advice is to trade a small account and keep losses small until something clicks for you


Chalky

Ah yes, a good chunk of the 7k went to those who go by the rule "If you can't do the thing, teach the thing" hehe

And thanks for your sharing!

 

[Bob Brown]

Blowing accounts and losing money and time are considered cost of education as well , so its not just money spent on seminars or books ...

Sure! Books and courses was just to name a few. Everyone is free to add what they feel like the cost of trading.

Are you willing to share your score so far?

 

[Bob Brown]

I guess money spent on education is also like investment which yields returns on the basis of what you have invested on it. Those who have become billionaires now did paid attention toward their personal development.

Only it is difficult to tell which personal investment is worth it in this case. But other than that I agree! My original question is not judgemental

Care to add your own score?

 

[ConsensusArb]

Very good point! My original question was purely curious, so no need to judge spent money as good or bad thing.
But to give you an answer I do feel that portion of my 7k was spent poorly and I didn't get what I paid for. On the other hand, mainly with books I got many times more from them than I've paid.

Not a judgement... Just stating what I know to be the case in the most succinct way that I know how. There is no relationship between the price of something and its value. I was trying to make that clear. Everyone in a market knows the price of a good/service (if the market is liquid). VERY FEW know the value. You don't know the game until you know the difference.

 

[Aiman]

on education i spend $900 about sofar. practice n patients!!

 

[Bob Brown]

Not a judgement... Just stating what I know to be the case in the most succinct way that I know how. There is no relationship between the price of something and its value. I was trying to make that clear. Everyone in a market knows the price of a good/service (if the market is liquid). VERY FEW know the value. You don't know the game until you know the difference.

Yes but perceived value is different for everyone (like beauty), that's why markets are always searching for it. It moves with traders coming in and out.

Anyways, how much did you have to invest to be profitable? How long did it take?

 

[Bob Brown]

Forex is a risky business and everyone should learn Forex. So i also spent some bucks to learn forex ,buying some books,hiring a mentor and attending some webinars. So now i started making some money with forex but i am still learning forex.

Hi Feek, how long did it take you and how much did it cost you?

 

[SmartGeek]

There're lots of money involved in Education, but in terms of Forex, I haven't spend that much as I earned through Demo which is totally priceless and very much effective.

 

[NVP]

your investment in time should dwarf any bucks spent on mentors / trainers / education

I started trading in early 80's ..........and every hour at screen is still worth every penny

always the student

N

 

[nero1]

your investment in time should dwarf any bucks spent on mentors / trainers / education

I started trading in early 80's ..........and every hour at screen is still worth every penny

always the student

N

Well ,men you are a trader 36 years,you were a trader back in 1999 when fortunes were made and you are stil here trying to find newbies to sell your crap,
i dont see any succes in that.

 

[dbphoenix]

Well ,men you are a trader 36 years,you were a trader back in 1999 when fortunes were made and you are stil here trying to find newbies to sell your crap,
i dont see any succes in that.

Kids

 

[sminicooper]

Well ,men you are a trader 36 years,you were a trader back in 1999 when fortunes were made and you are stil here trying to find newbies to sell your crap,
i dont see any succes in that.

Oh dear! And it's only 6th January

 

[nero1]

Oh dear! And it's only 6th January

Personally,if i was a succesfull 36 year trader i would just have fun in forums with wanabe succesfull traders ,teacher gurus.I wouldht bother wasting my time with newbies.
If i was a succesfull demo trader,like the guru teachers here i would have 32606 posts explaining all the time why you should pick me as a teacher

 

[forker]

Personally,if i was a succesfull 36 year trader i would just have fun in forums with wanabe succesfull traders ,teacher gurus.I wouldht bother wasting my time with newbies.
If i was a succesfull demo trader,like the guru teachers here i would have 32606 posts explaining all the time why you should pick me as a teacher

It's a good thing everyone is different else it would be a boring planet

 

[darktone]

Personally,if i was a succesfull 36 year trader i would just have fun in forums with wanabe succesfull traders ,teacher gurus.I wouldht bother wasting my time with newbies.
If i was a succesfull demo trader,like the guru teachers here i would have 32606 posts explaining all the time why you should pick me as a teacher

If only he had the knowledge of the 1%, then he could really impress with not so live calls that still suck bawls!
wonker!