If you are successfu in trading, why would you want to teach

[ShaunWhite]

If you are really good at trading ..Why bother with other people?

It's another income stream. If a butcher makes money selling chicken, why does he also sell beef?

[minimarvel]

ha ha.. i like the analogy...

I've often wondered about this.. why take time away from trading and therefore eat into high profits and earn less money (i assume) in teaching someone else..?

But as someone said before, it can be a very lonely game staring at the screen all day. id guess its a combination of reasons. some for the social aspect, others for another income stream. and im sure others, dare i say it, its for an ego boost.. I mean...If i was making thousands a month id wanna tell everyone!!! lol!

[bennyboy351]

Ego?

Lets face it, most people - especially people who are very good at something - like to sometimes 'show-off'.

Often, they are also very keen to show other people how to succeed, purely because they have 'found' the answer and want other people to benefit from their experience. People are, after all - in the majority - 'nice!'

Example: I am a time-served vehicle mechanic with over 40 years experience in the trade and whenever I am asked to help solve a motoring problem, be it via advice or 'hands-on' I do my best to provide all the help I can - often for free!

WHY? - Because it makes me feel good!

I think that these days, we are all so used to getting 'shafted', that when offered something 'nice' we instantly become suspicious.

That doesn't mean we shouldn't be wary, but it does mean that we should look at each case seperately and proceed accordingly.

Well, that's my (humble) opinion anyway......

[Euler]

I stand by my earlier comment that if Betfair can come up with a verification method people would at least have some process to validate advice given and people would then be able to make a choice based around fact.

[3virgul14]

Well , some anonymous traders ( including myself ) and some well known traders who are my personal friends would never teach you anything for even 1k a day ,that actually is somewhat useful information about our trading edge..

The rest is the information you can get anywhere on internet, or general knowledge which does not worth to pay for at all..

Just my 2 bucks

[ShaunWhite]

The rest is the information you can get anywhere on internet, or general knowledge which does not worth to pay for at all..

Just my 2 bucks

So following that logic nobody need go to university? If all the knowledge is just out there anyway, I guess you'd be happy if your brain surgeon was self taught rather than trained ?

[vankancisco]

The rest is the information you can get anywhere on internet, or general knowledge which does not worth to pay for at all..

Just my 2 bucks

So following that logic nobody need go to university? If all the knowledge is just out there anyway, I guess you'd be happy if your brain surgeon was self taught rather than trained ?

Sports Trading isn't academically orientated, pretty much anyone is capable of doing it - even without any training. You wouldn't really say the same thing about a brain surgeon

As far as financial markets go, the best route will still be through university, coupled with gaining some retail experience in the markets with some sort of track record.

I guess there could be many reasons for Peter going down the route of providing education. Some of them are possibly Bet Angel, attracting people to the market and growing the concept of exchanges, recognition, communication, interaction, greater purpose, sense of authority and satisfaction of helping people develop. Just being a lone trader can leave you without many of the these factors, and it's not really a void that can be filled by simply increasing profits.

As far as other forms of exchange training goes, I'd be extremely wary - a lot of it will be offered by people who don't make money trading or are not particularly successful.

[gutuami]

i have seen a lot of trading workshop and tipping services around.

If you are really good at trading and confident you have the edge you can just up your stakes and make your money from there.

Why bother with other people?

there will always be teachers around. You just have to make sure to pick the best one with a proven record. And if you manage to pick something up just thank him and don't ask why he is teaching.

[cyxstudio]

Judging by the lack of response from the OP despite having logged in several times since, I can only assume that the topic title was a statement and not an actual question.

I prefer to take inspiration from people more successful than me but there will always be others who convince themselves the successful ones are nothing more than bullshitters.

it is a question, i just didnt have enough space in the title to add an extra question mark.

I was wondering what i would do if i become a successful trader one day, i imagine myself enjoying fine dining, in the pub, cinema, dating, travelling... not teaching others!

I wish people would have the balls to say who they're referring to rather than speaking in riddles.

Its not targeted towards anyone, it is meant to be in general. There are a lot of tipping service and trading workshop around these days with some sensational claims.

[spreadbetting]

Its not targeted towards anyone, it is meant to be in general. There are a lot of tipping service and trading workshop around these days with some sensational claims.

I read a well known trading blog this morning and found that the authour was now selling a book.
The thing is; how do you know if he is making a profit or not? (He may well be?)

The phrase "In the land of the blind, the one eyed man is king" springs to mind

Edit : Not Peter; Caan or Steve Howe I hasten to add!

How can it not be targetted at someone when it mentions he's selling a book? I can only assume it's James Butler as he's the only one I know selling books. The fact he hasn't proofed his income is immaterial as neither have Peter, Caan or Steve Howe to my knowledge but they seem to get the all clear in the post.

[to75ne]

are your infering that people like mr webb should not be teaching if he is successful at trading, or maybe your hinting he is not as good as people percieve him to be at trading, and thats why he teaches? not sure what your asking/saying or why?

i assume you would question the motives and reasons of people like professor stephen hawking to name one of many famous (and not so famous)successful people who both practice and teach in their respective fields of expertise?

[LeTiss]

To be honest, I think trading is something you need to figure out for yourself. You shouldn't be lead by others, as the most successful people follow their own instincts and judgements. When you simply follow other people, you are not thinking for yourself, so you will ultimately always fail unless you can address that!

If you are learning the ropes, then note all of your successes and failures. The traders with the key combination of intelligence and discipline will succeed without the help of others.

The best advice I can give......is put your trust in youself, not other people.

[cyxstudio]

Its not targeted towards anyone, it is meant to be in general. There are a lot of tipping service and trading workshop around these days with some sensational claims.

I read a well known trading blog this morning and found that the authour was now selling a book.
The thing is; how do you know if he is making a profit or not? (He may well be?)

The phrase "In the land of the blind, the one eyed man is king" springs to mind

Edit : Not Peter; Caan or Steve Howe I hasten to add!

How can it not be targetted at someone when it mentions he's selling a book? I can only assume it's James Butler as he's the only one I know selling books. The fact he hasn't proofed his income is immaterial as neither have Peter, Caan or Steve Howe to my knowledge but they seem to get the all clear in the post.

Thats peterle's post!

[ShaunWhite]

As far as financial markets go, the best route will still be through university, coupled with gaining some retail experience in the markets with some sort of track record.

Best route for who? Dealers, Fund Managers, Analysts ? I can tell you from experience that these roles are respectively filled by barrow boys, the clever but connected , and obsessive PhDs (I knew one who slept under his desk mon-fri). I'm afraid "some retail experience in the markets with some sort of track record" might get you a job at the bookies, but not at Goldman's.

A vast majority of city 'traders' are simply following a mandate, they're certainly not the brains behind the outfit and those who think they are have seen too many films. Despite that, they will have been trained by a person, not Google.

[Euler]

I've had to proof my ability many times when I have done media work. The BBC wouldn't do an interview without some sort of evidence, which Betfair were happy to provide. Betfair suspended my accounts for PC avoidance, slight clue in there and of course I was an ambassador for them.

I've stated before on the thread, it would be great if a process would be set up to proof claims as it would expose the real traders from the fakers. I'm talking in the broadest sense also as well. What better way that killing off these completely stupid systems, fakes, frauds and other services out there?

It would often frustrate me in the past that I and others who had actually done it, would be constantly questioned. But I realise now, that actually is part of any successful traders edge in the market. People seem to be constantly looking for reasons why not, so they find them. Successful traders are simply looking for opportunities, not problems.