I receive many enquiries – whether I would be willing to conduct training about daytrading of stock exchanges, tape reading or just developmental training in the trading office. I refuse. So I receives next enquiries – whom would I recommend for training. Then again, emptiness in my head, because I don’t know!
Only once I agreed to conduct typical commercial training. I carried 3 week training for 3 friends-traders. It was in a commercial form, because I respect my time and knowledge. I had to do many preparations, in principle the time spent from morning to night. When I do something, I do it to maximum. However, one in it was significant in effects for my person. About it, among others, you will read in this article, but also you will find out what is my perspective on training, their cost, value and what they shall provide.
My assumption
I believe that if someone trains other traders should do it through live learning on real account. Fun of weekend trainings is a total misunderstanding. How you can teach somebody in the weekend when the market doesn’t work? Probably only theoretical assumptions, but if I can’t see how somebody trade in the real, for me is obvious that doesn’t trade or with such positions they don’t have the slightest importance.
Are you looking for a trainer? Find someone who will teach you it, but in the real time. He will show you real trading, not some nonsensical historical graphs. On the historical graph you will draw everything. On live trading, recordings from the session – you can see what happened on the market, what was the decision-making processes. Rather than only theoretical talks “that when it will happen then I will enter or I will close the position”.
What gives you training?
Any training, not only trading, in my opinion provides just a theoretical knowledge, and when the training is neat and practical – WORKSHOP. Through the workshop I understand the knowledge about strategy, entry/exits, searching for signals. However, workshop which isn’t equivalent to the fact that trained person will begin to make money in the stock market. Let us have full awareness of it. Workshop it’s already a lot. But it is necessary to know how to use the workshop. And that’s a completely different thing. On YouTube and Twitter I observe many great traders. They don’t hesitate to post their plans of trading, although they conduct trainings (mostly traders from the USA and Canada). Somebody can say – why are you posting that, you will have a greater competition on companies, which you trade, and people will get to know your strategy. Believe me, even if 1000 persons will carry out the same strategies, they will undergo the same training… in practice this knowledges will only use few of them. The rest of them will begin to modify, change and add. Then they start to trade something completely different.
Price of daytrading courses
For me it is the funniest matter for discussion. The price depends how much somebody is able to pay for the training. Of course, another question is whether the given training was worth their money.
However, in this issue I will quote a simple thing. The training is worth $100 and the second training $700. The first may be hyper-super, mega-practical conducted by the guy who every day obtains cash from the market. The second by the guy, who theorizes more, but on the real market he is more rarely and usually opens smalllllll positions.
However, more volunteers for the training will find the second trader. Why? Because if somebody sells training for $100 it must be shit, since who with common sense will sell the knowledge about strategy that works. Well, for $700 the knowledge is certainly more secret. But about it I will write more below.
Let us think what if the training was sold for $2500 or $5000. Then, the knowledge must already be great.
From September 2007 I run this website (actually BeDayTrader.com I started in 2014. But since 2007 I’m writing my first blog Day-Trader.pl). Earlier it was only in a form of analyses, after 2008 already in a form of articles, education, live recordings from the session. A lot of materials, which I shared free of charge! From this knowledge benefited a few current traders, whom I know and keep good contact. I provided them free knowledge. They added to it strong determinations and now they are where should be. Trading is their source of income. Day-Trader.pl and available materials were a fuse for them in order to, generally speaking, access into this subject. That what I published, made them realized that it is possible, that regularity and stability is possible. As you can see, it is possible to find a free knowledge and to add your two cents. This also provides desired results. However, after years of cooperation with traders in RemoteDayTrader.pl Group I can state that – those who achieved smaller or larger success are characterized by great determination and really great diligence.
And here I will come back to the subject from introduction. Once I conducted 3 week training. Why 3 weeks. Because I considered that it was a time in which I’m able to show my technical, psychological guidelines, how I prepare to session, how I analyze companies, as well as in this period I was able to show strategies which I introduced to those participating in the training. We have met every day from 9-10am to 10pm, 5 days a week. There was, of course, a live session. After the session I analyzed entries/exits. Each session was recorded and in the morning we analyzed trader’s activities in order to assess reasons of the entry/exit and how they relate to my knowledge handed over to them. During the session I exactly presented my planned entries/exits.
Those 3 weeks were for me the most difficult in that year. And it was in 2014. As a trader I want to carry out my own. As the person who trained 3 other traders, I wanted to fully devote myself to them. Because of that, I couldn’t in 100% concentrate on my trading, since I had to supervise what traders play. Therefore, it was the only time when I agreed to it. I value my trading too much to spend live session for learning other persons. It would only make sense, when price of such training would in a minimum 75% covered what I’m able to trade at that time on the market. Then I wouldn’t feel the loss of benefits from trading on the market. But whether it would make sense now, when trading fully turns me? No. Maybe someday when I’ll want to have more time for myself and my family, but I will change the interval so that wouldn’t be disturbing in trading and training other. It should also provide you an answer to what level trader is able to evaluate his training.
What I answer to people looking for advice with regard to trainings
I will quote here one of my last e-mails, which I sent to the person interested in training:
Despite everything I propose that you allocate money on real trading than next and subsequent trainings. They will only provide you knowledge, which I assume that you already have (the person wrote that is already after many trainings). But only real trading will show you, what style of trading suits you.
In my opinion you have two options:
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Taking a shortcut
I.e. go to training. You gain knowledge from better/worse trainer. You obtain some workshop. But in terms of trading, you still must try in real. Try in real and get to know how it affects your psyche in decision making. How loss of cash hurts, how even a small profit affects you. It also regards traders, who already have knowledge and earned on the market, but suddenly something changed and they search for another way.
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Being more ambitious
Progressed from zero to…. I would like to say to the millionaire. But it regards progressed from zero up to any profits on the stock-market, which will allow you to take your niche and to develop; so that profits were enough big to fully devote to it. Here the whole work is on your shoulders, but with great satisfaction.
Third way is that you were already ambitious, but it didn’t work out. You would like to try for the last time and you are searching for training, which either will help or let you forget about it and devote to something else. Here, it seems to me that the decision is in your head and persistence.
Sad truth
In my opinion, people became much lazier. They don’t want to work, to gain knowledge which is available free of charge. If they have some savings, it is easier for them to spend a certain amount in order to receive – even theoretical knowledge, but which still would have to obtain somehow – more quickly and faster and without any effort. I don’t judge such persons badly. It is their choice.
People don’t want to devote a few hours per day to gain knowledge, but without a problem spend a few or several thousand for training of someone, who had a beautiful marketing cover and have an emotional impact on them.
You have $2500 for trading. Ok. How much from it you will spend on the paid knowledge?
In my opinion it shouldn’t be more than 20-50 %. This is my opinion. If you will spend $2500 for knowledge, then nothing more will be left on trading. Statistics indicate that persons starting trading usually have $1500-2000 on the start. How many from this amount you would allocate for paid knowledge, trainings? And how much to the real account?
And another “minor” issue. Any training you wouldn’t undergo (unless you received the machine, which trades for you, so turns off the psyche from trading), you shouldn’t treat it as a safe bet that on the stock-market you will earn. You can get to know well the workshop of even good trader. But when it comes to trade in real, even perfect workshop won’t win with your head. Hence a simple fact: even when good trader sells great training/including manual strategy – still knows that only small % of people, who undergo training, will have enough determination to implement all relevant into trading. Other matter – which generally speaking is funny, but also tragic when we look at it, is a huge percentage of those, who don’t pass it even in 50%. So, why to spend money for it? 🙂
I hate haters
I won’t throw into one bag training with Forex and stock markets. Trainings and forex market aren’t my fairy tale, it is for me a total shit and mess, completely not clear and filled with too much jealousy and boastings between traders (particularly those sitting still on demo or succeed several times and now they pretend to be experts). Sorry forex traders, this is my opinion 😉 I didn’t come across of such a thing on the US Stock Markets.
On US Stock Markets, I met many cool traders, including those who I have trained. As a matter of fact, a few minutes of conversation with somebody who trains and I already know whether he indeed is present on the market as I am every day, or training is his main business. I will never judge somebody from above – he trains so certainly doesn’t trade ble ble ble. In my opinion that is not the way. I assess something what I got to know relying on my own opinion, not second-hand stories. I recommend you the same. If you will go on training – it is your cash, probably hard-earned. If you go on shortcuts, choose well.
If you find training, in which you are interested, you should get in touch with persons who already participated in it. Really participated in it, not only tell you what they heard from someone or could hear. Leave such bullshit for trolls. If you want to pay for something, you should look for opinions of persons who already used it. In my opinion is most meaningful. If somebody, who trains you, will provide you the history of his moves, you have a foundation that teaches ethically, because the stock exchange allows him for it. But I fully also understand those, who train, but won’t provide their excerpts. I know that it would be fair, but everyone has own limit of privacy.
Search for trainings, which clients gain by good reviews, rather than marketing, affectionate texts and video albums. Emotions always are affected by the sale. However, in trading it is supposed to provide the Workshop. Rely on it.
Did I participate in some training?
Yes, I did once. And I admit that even not so long ago, since last year. I participated, because it interested me very much, particularly because I have very similar strategies to the guy who conducted this training. It wasn’t a training ‘one on one’, since I don’t even need that. It was on the basis of session recordings, i.e. something I value, because alone this way I hand my knowledge on YouTube channel. I was curious how his decision-making process looks like, because we carry out similar strategies, I stated that perhaps I would use something of his ideas. And I did, I – the guy who has so many years of experience, but as I wrote in the section “Your Start”, I also constantly learn and develop. I look for better than myself in order to cross some barriers. I will never judge the decision of somebody who just begins. What for me seems banal, for him is a black magic. But once it was also a black magic for me.
Never forget about Google. Here you will find really huge reserves of knowledge, many traders, who write, record and post on Twitter their trading. What’s more, everything is free of charge 🙂
I hope that this text a little bit will help you to make a decision whether to take advantage of any training or not. Choose wisely and remember that the best training is the real trading.
