The general consensus seems to be that spread trading seminars and courses are a good introduction, but what you learn is only what you can learn from books and the Internet, all for either free, or a fraction of the course price. However, if you do feel you would like to go on a spread trading seminar or course then there are many genuine people (it seems) who offer 1-2-1 tuition at a fraction of the price these other people are asking for to teach you in a group of people - a group consisting of people of various abilities and in which the tutor would have to spend time on all of them while you presumably just sit...
The pro's of a 1-2-1 tuition with accomplished traders willing to show you their substantial track record at a maybe a fifth of the price must be obvious...
I agree the game is about "supply and demand", but is the demand being made from people who would later wish they'd been supplied with more information? In the next few weeks I will elaborate on the spread trading courses (spread betting courses)/workshops offered as well as the popular cons.
However, keep in mind that you will start to consistently make money and keep it, the minute you realize that no one can teach you anything but u need to buy original books on the subjects and read them as if your life depends on it. Nothing new happens under the sun but same things simply happen to different people. Sooner or later you will encounter problems, then what, pay another £1800 to a prophet.
If someone's analysis/methods are good why sell them for £1800 ??? THINK !! Would that person rather not trade their own money and make themselves rich, or maybe they are just interested in educating the masses. I suppose its true after all.....those who made money in the Californian Gold Rush made it by selling picks and shovels.
I am currently teaching my girlfriend to trade. It all came about when she asked me if I thought it was possible for me to teach her so she could make £50 a day. I kind of took pity on her because £50 seems like a small amount when you are trading. Sometimes that is my size per point, and I knew I could teach her that in no time. However, it was also a big eye opener to my own trading and other peoples trading. Allow me to elaborate.
My girlfriend has a flair for numbers and is a bright coockie. She works part-time in a bank, and looks after her son the other half of her time. She wants a more stimulating life and of course sees what I do, and like the challenge etc. However, she is worried about finances etc, as we all are when leaving a secure job. She would be content if she could make £50 a day. That would earn her £12,500 a year, which is more than she earns now. Her expectations were low, which is almost certain to stand her in good deed when she starts for herself. If she does that every single day, then there will come a day where she no longer has to settle for £50, because she is getting better and better.
I then realized that it was in reality me who needed to look at my own trading. My girlfriend had taught me a lesson in consistency. I used to gun for the ropes, i.e. go for the really big trades that could make 5-10 K in a day. Now I have changed. I have no expectations and I treat every day as a new day. If I make £50 in a day I am happy. If I make £500 I am also happy, and if I make £5000 I am also happy. However, when the next day comes around, I start from scratch, with no expectations and a clean slate.
The problem from what I hear from other traders is that they think they are ****e traders if they don't at least make XXX amount of money a year. That is by far the biggest mistake in my opinion. There would be far less casualties if people could control their greed.
Trading is not about the big wins, it is about making steady consistent profits every day.
Don't compare yourself to others. Try to be the best you can be.Second, teachers / course vendors fall in to one of two categories
Also, this is something of a generalisation I know but, broadly speaking, teachers/course vendors fall in to one of two categories:
It is possible for someone to go on a course described in No. 1, learn the basics about trading and reinforce this knowledge with hours of additional study and still not make a bean. Someone else could attend course No. 2; know next to nothing about trading but apply the system taught and make a profit. Like many people, I started out in camp No. 2 (only I didn't make any money ) and 'progressed' to camp No. 1.
So, what do you want? Do you just want a vehicle which generates additional income or do you want to learn how to play the game? Answer this question at the very start of your quest and save yourself a lot of time and, quite possibly, a lot of dosh as well.
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