Why does it seem like everybody involved with trading wants to take your money?
No, I’m not talking about the person on the other side of your trade or your dealer with their spreads and commissions.
I’m talking about the trade educators who have moved on from selling their books or trading strategies to charging $145 a month to join them in their chat rooms.
If they are so successful at trading, why be so greedy and take inexperienced traders’ money? Why not offer some help for free?
I’m asking these questions because of some emails I have been receiving trying to sell me time in a $145 per month chat room, so I don’t have to face the markets alone.
After taking a class in trading years ago, and listening to traders via podcast and YouTube videos, I don’t think they are that successful if they have to sell trading room access that leads to becoming a profitable trader.
It’s hard for me to not mention the names of these advisers who give the impression that trading is an easy and quick task to master.
I feel bad for the beginning traders who are not being told that it is going to take years to be successful, and many hours of hard work and practice. That you will have to buy or develop a trading strategy, and make it fit your trading style. Also, that you should be committed to trade the rest of your life.
I think I was fortunate to only pay about $2200 to learn how to trade the Forex market. The cost for the class was actually more, but a friend and I talked the teacher into lowering his price if we both joined. He even allowed us to make payments.
I think the price was reasonable and close to what you would pay for a college class. He offered unlimited access to all his live and recorded sessions. He was a good trainer who covered very important concepts in trading, but I don’t believe he ever traded. He never offered any statements showing his trades.
He has since closed shop. He went on to sell real estate.
I don’t have a problem with my experience with him because as I indicated, I did learn a lot from him and I have his classes saved so I can review them if I need to.
Most of my 33 books on trading were worth what I paid for them. I have gleaned much help from each one.
Trading for 10 years now, I have seen the evolution of these trading educators; first they sell books, then their their strategies, and now they are trying to sell chat room access for $145 per month.
I guess to end my thoughts, ask yourself, do you really think paying $145 per month is going to make you a better trader? Why do they need your $145 if they are profitable traders?
FYI. I do sell my journal software, but at less than $10. I have yet to become rich from the traders who purchase it.