Jamie Oliver is a successful chef and restaurant owner. Why should he sell cook books if he makes enough money?
not a great analogy that. Jamie Oliver is about brand 'Jamie' full stop, the guy will pimp anything out as long as it makes him money.
You can't judge peoples motives purely on how much money you think they make. If you do it probably says more about yourself then the person you are judging.
no need to take it personal was there. It's nothing to do with people's motive's it's all to do with is it credible that someone who claims to have made 25,070 pips in 2012 which on a puny 1 lot would be c. $250k would sell training to people for £60pm. I stay objective at all times with matters of trading, if I was in the market for a vendor I would be most concerned about what I would be getting from the vendor not the vendors motives.
Maybe he's passionate about teaching? Maybe he wants to network and meet people as well as trade?
again I go back to historical evidence and I have asked many a vendor why they teach, a stock answer is they 'enjoy teaching'. The need to socialise/network with people is not credible in my view. Charging people to join a live room for the purposes of networking just isn't credible. Again people have to form their own opinions as to whether this is a credible reason.
Secondly, its only £60 a month or whatever. He's only going to make money from that business if people keep re subscribing on a monthly basis. Meaning he has to provide a service that people value. Scammers try to take large one off payments because they know their days are numbered.
Scamming comes in varying degrees in of shadiness. The more serious fraudsters will of course go for one off heists as they know they are more likely to be caught however my investigative experience (in a past life) leads me to believe that scams can go on persistently if not for decades. I could quote example such as madoff et al.
I actually used his service for a few months. Did I make money blindly copying his trades? NO! - Did it inspire me to new ways of thinking and open up new ideas to me YES!
This raises another red flag for me. If you used his service where he had no losing months and 25070 pips in live trading last year how is it that you did not make money or at least break even copying his trades. That doesn't make sense.
I don't think anyone would argue against the assertion that the majority of trading trainers cannot trade profitably themselves. They then go on to sell the pick and shovels with varying degrees of shadiness.
I would repeat though I have no idea whether the guy is genuine (i.e. can he trade profitably and can verify all 20,070 pips in 2012). All I am saying is that it is better to retain a healthy scepticism to vendors and ask for trading statement. Normally when you ask a vendor for statement you are batted away or ignored, some will provide them though which for me is helpful.
