Can Educators really give us education?(result from a trading competition) | Trading Reviews and Vendors - futures trading strategies, market news, trading charts and platforms

Trading Reviews and Vendors

Discuss and review vendors of commercial trading products, trading rooms and services, trading indicators or third-party paid add-ons


Can Educators really give us education?(result from a trading competition)

  #15 (permalink)

East Bend
Trading Experience: Advanced
Platform: NinjaTrader, Tradestation, MetaTrader
Broker/Data: Mirus/Kinetick
Favorite Futures: Futures, Oil, Gold, NQ
Posts: 49 since Mar 2010
Thanks: 2 given, 64 received

These are all some really great insights.

Regrettably, we've noticed two patterns that we tell people are excellent "tells" about an educator.

First, as exemplified by your negative losing streak data set, does the educator prepare the student for the inevitable losing streak in some way shape or form? We direct new traders back to the book, "The Trading Game" by Ryan Jones and then to his money management strategies for losing (using a moving average on the equity curve for example, or leveraging the statistics of the model to set a "live/sim" threshold before you arrive there. Most of the educators we've come across start out well balanced, I believe, but then come around to the reality that the marketplace is really clogged, and posting results ie 'selling the dream' is the easier faster way to sales.

Second, we've noticed that most educators don't stress two pretty important pre-cursors to successful trading. Number one, that it's an intensely personal journey...that no two people are going to walk away with the same strategy or methodology. I know one trader for example that trades crude with a 50 sma. Nothing else. He is independently wealthy. No one else I know could trade his system. A great educator is one that introduces you to these basic concepts we all talk about on this forum, and eases you into the reality that you will "see" them organize themselves in a very personal way.

That "seeing" though, takes a very important component...number 2, "time". I don't know many traders that are successful until well into their 5th,6th, or 7th year of study. Being honest with someone as an educator and "throttling them down" into reality while being the best thing to do, sometimes does so at the cost of a lost student and paycheck. I find it very enabling though when someone's up front and makes me count the cost in advance. It would have saved me thousands of dollars, as well as made them thousands of dollars as an educator.

I wonder what other people think about this?

Please send me a Private Message if you have any questions about BTTFT services
Reply With Quote
The following user says Thank You to BTTFT Michael for this post:
Page generated 2019-04-24 in 0.08 seconds with 11 queries on phoenix