Nowadays, we can find many you tube channels have modulus operandi:
Start a Free(?) you tube education channel
Publish some vague, philosophical videos(Useless when it comes to live trading)
Gain subscriptions & views
Pull crowd towards paid courses.
Imagine you found a rare stone of Paras which you can use to turn Iron into Gold. Will you rent it for 20-30k to others? Maybe not!
What if you built a stone which looks like Paras and can turn Iron into Gold for SOME days. Will you rent it for 20-30k? Yes.
Trading/Investing success constitutes major part of right mindset which cannot be taught into class.
There are guys who charge 30-50k per head and coach 100s of students every month. They make fortune out of it which they could never earn out of market. How many of these students actually end up consistently profitable?
What if someone is telling you âDonât be Greedy, Donât be Fearful, Cut your losses short & let your profits runâ and charging money for that?
Isnât it some sort scam going on over there?
Not all stock market classes are scams. You should be on look out for professional traders/investors who teach trading/investing rather just teachers who teach trading/investing.
I paid a bomb to do my full-time MBA from one the top 15 institutes in India and during my Equity Analysis and Portfolio analysis class when I asked my professor about which stocks he holds in his portfolio - he said he doesnât anymore. He said he bought Ashok Leyland and Vedanta in the past and got rid of them (Ashok Leyland at marginal profit and Vedanta at huge loss). That was my first important learning in stocks market and thatâs why the above statement.
On a sidenote, I was reading a book on Warren Buffett in the evening and it mentioned that for most part of his early life he used to teach stock markets at various colleges.
I could agree with you. But for Professional traders/Investors know how to use this coaching tool very well for their own trading. For example, coaching income provides excellent hedging against loosing positions & either way they use this money as pyramiding to add up positions in winning situations. Anyway, if they are able to trade live account(with substantial amount) in front of students, can lend some help.
While warren buffet was teaching, internet wanât available. Today we can find hell lot of free resources over net. Moreover, one can spend 300-500 rs for buying a book and get all the required knowledge to kickstart. Instead of classes, one can use 20-30-40k as initial margin & get precious lessons from best Guru i. e. MARKET itself.
Here most of the people only want to fetch money in the name of stock market classes. But Trading Psychology canât be replicated easily across brains. Is there anything like âHOLY GRAILâ exists in market? Innocent beginners fall pray to emotional blackmailing.
I guess you really had a bad experience with some âYouTube Trading coachâ. Anyway, my best wishes to you. This discussion can go onâŚwe all have opinionsâŚ
yes, its a huge business worldwide & lot of people with limited knowledge are minting money by teaching stuff which spreads greed of money as they claim crores of profit etcâŚmost end up in losses as u cannot teach money management, controlling emotions etc which is where traders failâŚ
You can see from guys running classes like Yogeshwar Vashishtha, Ashwani Gujral, Avadhut Sathe etcâŚsee how they are minting moneyâŚgeneral public get fooled by returns shown etc on social media. what is taught is EMAs, pivots, elliott wave âŚhahaha
True! Many of them says âBe simpleâ & they end up teaching basic MA, RSI setups.
Funny thing is No setup work all the time but all setups can work sometimes. So whats the point spending money on learning setups?
Its a scam if anyone is claiming to tech a âholy grailâ method. Most people are teaching what has worked for them in the past. What they also teach is the psychology and discipline to follow the method. Trading is 90% about the psychology, rather than the method.
You can watch any youtube video and know in 5 mins. whether the person teaching is genuine or not.
Look at the positive side - the teacher teaching is willing to share his knowledge and experience gained through many years in market. The student being taught is showing a willingness to learn rather than blindly following âtipsâ.
Everyone has his own opinion over bought education, but that doesnât render all of them as spam. The truth is, most of those stuff are fake. Whichever trade you are being taught, most of the teachers are either failed traders or they simply teach like I can teach you English. Successful traders are busy trading
Not all of them are scam, but most of them are. All that information is available for free on the web, so there is no reason why you should go spending a fortune to make someone rich in return for false information. If there information can make you rich, why arent they using that to be rich themselves so that they wont have to ask you to pay?
I like second reply in that thread. I am on internet for like 16 years already. And yes, re Forex you can really find some valuable info in some forum sticky thread than in online ebook. But I never bought Forex course anyway. Itâs way too costly;)
Surprisingly we have so many advisory & training guys who are looting but still SEBI etc are doing nothing about it. Gurgaon, Indore, Ahmedabad, Bengaluru etc are the hubs of such cheating practicesâŚsome folks do online free marketing over twitter, FB etc to show big money dreams & people fall prey to itâŚ