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

[cyxstudio]

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?

[Bluesky]

I can think of a few reasons.

1. Even though you might be a winning trader, teaching could help smooth out your income stream.

2. There is nothing quite like teaching a subject to really get to know it, so teaching people could actually help a trader improve his or her trading.

3. Trading at home can be a rather lonely business, and most of your family and friends will not really understand what on earth you do, so it could be quite nice to meet up with people now and again who have some idea what its all about.

Although there are some losing traders out there that have turned to the educational route to earn a living, I still think you can trust people like PW and the like, when they say they make far more money from trading than they do from teaching.

[Euler]

I think it would help the industry if there were some way of officially verifying people's ability via Betfair or something.

Even if you don't want to declare full earnings you could get a tick or two for things like start date, PC payer, regular users, markets traded and such. That would very quickly sort out the wheat from the chaff and help people make sensible decisions if they wanted advice.

[Trader_Tom]

I'm not sure what Peters specific reasons are but Bluesky makes a lot of valid points. I don't know what Peter expects to earn in a day so I don't know whether the cost of tuition would cover it or not. His introductory course costs £250 and holds 6 people. So £1500 is taken before any of his overheads are even covered (food, staff etc). I would imagine that he does profit from it overall but I doubt it's by much after losing a days manual trading. If I was doing it personally it would probably be just to get away from being in front of a screen and break my week up a little. I imagine it's also pretty rewarding for Peter to see a few of his students go on to become successful traders too.

At the end of the day, only Peter could tell you why he does it (and he might enlighten us).

As for other guys (and "the" other guy) I haven't yet been on their courses. I think there is a few out there who maybe understand the principles of trading but maybe lack the mentality of a trader. Think of fighting coaches. They are training top fighters but if you put them in the cage with one, they'd be killed.

If you're looking for a course to go on, you're best just getting a good, honest opinion from a few people who have actually been on the courses. I have been on 2 of Peters courses and while I can't tell you how much money he makes/loses from teaching, I can tell you that he is no fraud. If you go on his course he WILL trade successfully in front of you.

As far as tipping services go. I can't vouch for any of them but common sense tells me to stay away.

[LeTiss]

Let's be honest here - if Peter Webb hadn't developed Bet Angel, and was simply a trader operating under the radar, he would never help people as much as he does. He wants the exchange to thrive, as that helps his business

However, every sports trader knows how successful he is in the markets, and quite rightly use this platform to extract as much information and advice as they can from him.

Why would anybody else want to teach therefore, if they are not selling something, or unless they are simply bullshitting about their success?

[Trader_Tom]

I think it would help the industry if there were some way of officially verifying people's ability via Betfair or something.

Even if you don't want to declare full earnings you could get a tick or twp for things like start date, PC payer, regular users, markets traded and such. That would very quickly sort out the wheat from the chaff and help people make sensible decisions if they wanted advice.

"Betfair Verified". I wonder how much that would cost you

[SeaHorseRacing]

It's like the racing post, they verify tipsters but I think it's a waste of time as I guarantee all of them are not making money from their systems.
Completely agree with what Euler says.

[Trader_Tom]

I think a lot of tipsters are making money but that's because they are finding value. You can back a horse at 15.5 and it be great value, likewise you can back a horse at 1.30 and it be terrible value. Good gamblers find value, not winners, and count on being profitable long term. The problem with tipsters is that when they release their tips, all the value has been sucked up by the crowd.

As far as trading tips go though, It's as good as selling your edge. It just wouldn't happen.

[SeaHorseRacing]

I think a lot of tipsters are making money but that's because they are finding value. You can back a horse at 15.5 and it be great value, likewise you can back a horse at 1.30 and it be terrible value. Good gamblers find value, not winners, and count on being profitable long term. The problem with tipsters is that when they release their tips, all the value has been sucked up by the crowd.

As far as trading tips go though, It's as good as selling your edge. It just wouldn't happen.

Thats the whole logic of it though, If your a profitable gambler why sell your tips, because they no longer become profitable as the bookies are on to them like hot cakes

[PeterLe]

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!

[Trader_Tom]

I think a lot of tipsters are making money but that's because they are finding value. You can back a horse at 15.5 and it be great value, likewise you can back a horse at 1.30 and it be terrible value. Good gamblers find value, not winners, and count on being profitable long term. The problem with tipsters is that when they release their tips, all the value has been sucked up by the crowd.

As far as trading tips go though, It's as good as selling your edge. It just wouldn't happen.

Thats the whole logic of it though, If your a profitable gambler why sell your tips, because they no longer become profitable as the bookies are on to them like hot cakes

Because you an only extract so much value when liquidity is low. You can offer up £10,000 on the exchange but it doesn't mean it will get taken. Good tipsters do bet on their own tips but only if they think the value is there. Once everyone else gets on board the tip the odds will change until it no longer represents value. At SP, the exchange is pretty efficient but before then, there is value to be had.

[sealebet]

I do a lot of analytics on horse stats to find value and all my bets are placed the night before. As there is no liquidity on the exchange at this time I have to use bookmakers to get a reasonable stake on. Within 12 months the only bookmaker I had left open is Coral (who restrict my stakes to roughly 30 quid).
I started provide a few of my bets (I do not charge) in the hope that people can start taking money off the bookmakers. Once I have my bets on, there is no harm in me sharing.
i.e. my motive for providing tips and the odd training article = bookie revenge!

[Trader_Tom]

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.

[Westerner]

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!

If you're referring to who I think you are then it's worth remembering that Sports Trading to him is a hobby. He is not a full time trader and sports trading profits make up a small part of his income.

That's not to say he doesn't have knowledge in his specified area, but having knowledge and being able to make significant amounts of money from it are very different.

[spreadbetting]

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