Godaddy Domainsbyproxy anonymously registered, what a surprise...
If you get a chance to ask them.. why do they need this income? what is the motivation?
A competent trader trades. From my own experience I know that if you want to find talent the LAST place you look is to half boiled, head full of half crap beginners. You want smart & disciplined with a clean slate so they can follow instructions.
If there is some convincing reason why they (the two lads) need this, I'd be curious to hear it.
The following user says Thank You to Rory for this post:
True, maybe it is a good way to wide net source talent.. I've never tried it but it seems a painful way to find staff.
I interviewed 20+ (sourced through agencies) talked to another dozen from forums before I found one person to be my assistant. She was an old friend I was moaning to about how hard it is to find the right stuff Under my nose all the time.
I may ask them the question myself. Why do they need to do this?
I honestly don't get the hate towards training vendors. When I started out as an engineer out of college, I spent multiple weeks for the first couple years going to training that was $500-$1000/day... When I was playing poker and grinding it out, I paid for one-on-one coaching and thousand dollar training. People would gladly pay that because one little improvement to your game could mean a ton of money coming your way.
The only reason it is so bad in the trading space is because of the large amount of vendors out there and the amount of scams there are. If only there was a place to get unbiased reviews... (THX FIO!) Look, all I'm trying to say is that the most important thing about taking these training courses is to improve your skillset and to make you money. You should question whether the vendors can add value to your trading, but you shouldn't question the value that a training marketplace provides in general.
I think chat rooms are the worst... You don't go into a chat room expecting to take the trades that everyone is posting and make money! If they are already in a trade, guess what, you MISSED the trade! A good chat room should allow you to develop your own bias, tools, and thinking to pull money out of the market
The following user says Thank You to Gambit88 for this post:
I know what you mean, I was fortunate enough to find a school that cost some dough but I got a solid grounding with them. If I had read their FIO reviews I might not have.
The difference is (and trying to be fair/honest here not mean spirited) smart people are like bloodhounds, they just need a sniff and they are off so can benefit from almost anything.
I recall however talking to a guy who watered plants in offices for a living, 20 hours a week. He wanted something that was even easier than that.. OMG. You get all types but about 2/3 of the population are fairly easy to scam or sell crap to.
I believe its perfectly fine to sell training just as long as the person explains why they are motivated to do so. Not being able to press the button anymore is a genuine reason. The Sim kings (fake trading) however should be dealt with severely.
The following user says Thank You to Rory for this post:
There is a lot of education out there yes. Some good, some bad, some cheap and some very expensive, some free to sell products, some free for the pleasure to share (yes there are some!), some free for the pleasure to shine and be listened to and to impress, some from bad traders who teach as they can't trade, some who can trade but can't teach well, and some who trade successfully and who think that since there is not magic, grail or secret, why not sharing what they know and what they do, and make a little bit of extra money in the process. The idea that someone who teaches can't trade can be true and of course does exist, but there are definitely profitable traders who trade and teach. It would be a bit like saying that Messi can't play football as he does advertising for Pepsi and Adidas (apologies to friends over the pond in the US ,to whom this name and football as it is called over here in Europe doesn't mean much, but I am sure you can transpose and find sports star over there who advertise various products on TV).
What is also certain is that it takes a years to be profitable and successful, and that there is no magical video on you tube or training material with magical content or special words that are going to trigger the profit making switch, that's it I can trade switch in people's mind, just as no indicator will tell you when to trade. It is absolutely hilarious that a large number of people are still looking for that and have never thought that if there was such an indicator or "thing" to know to be successful, it would be jealously kept by the guys who own it and know it, who would keep it to make billions, or that the very clever institutions out there on the markets, who invest billions and have very very smart highly paid people who work for them, would not discover it before some unknown guy sells it to retails on trading forums..! Why would trading be easy and should be learned in a matter of weeks is beyond me.. why should trader be educated for free is also a strange concept.. do you honestly know any fee quality education if you wish study or does it tend to be more highly expensive years and years of university and schools? Why would it be different in trading? Does anyone know of a business that doesn't require any initial investment either? Does a restaurant or bar owner has no costs? Does Apple have no costs, people to pay salaries to, products to buy from other supplies, marketing costs before they can sell they phones and computers?
Trading is a really gripping business, where no business day is like the previous one, with no annoying colleagues or boss, that you can do from anywhere in the world, with no need to commute daily to go to the office, and where you can potentially make good money.. very little costs compared to any business with tons of marginal costs, but it is still a business.. which requires to understand the markets and to study hard, proper education, proper equipment, proper data feed, proper news , proper connection, proper tools to trade with and a proper capital to trade with (5k is not a proper capital to trade with let alone $500!).
The point of my long boring post here is to say that there are scammers out there only because they are people to buy from them. People think there are shortcuts and end up in muddy dead end tracks.