Best trading manual

[Derek27]

I don't know what he is like as a trader, but I won't be subscribing to his tipping service!

https://www.racing-index.com/tipsters/p ... acing.html

Those ROIs are about what you'd expect from laying at random!

Pay us £300 and we'll show you how to lose £37 in a year !

[Euler]

Betfair should offer some proofing of accounts as it would wipe out 99.9% of the advice givers that claim to know what they are doing.

[Trading96]

I don't know what he is like as a trader, but I won't be subscribing to his tipping service!

https://www.racing-index.com/tipsters/p ... acing.html

Those ROIs are about what you'd expect from laying at random!

Pay us £300 and we'll show you how to lose £37 in a year !

To be fair he has made a profit based on advised stakes if you press that.

[ruthlessimon]

Betfair should offer some proofing of accounts as it would wipe out 99.9% of the advice givers that claim to know what they are doing.

I was just doing a little thought experiment regarding this. Here's the scenario:

"Educator A" is proven by BF to be in the 0.01%, but the advice that trader gives is incomplete/misleading (imprecise terminology etc).

"Educator B" is unproven & breakeven, but that trader genuinely explains everything he knows nothing hidden, all questions answered.

Who's worse?

[spreadbetting]

Nothing is ever going to be perfect but if you want to 'clean' up the tipping industry you've got to start somewhere. Plus I'm not sure a breakeven trader is going to be much use if he's telling you all he knows and unable to make a profit, surely being able to save your money going to him is a plus point.

Hard to imagine Betfair wanting to get involved in 'proofing' anyone though unless there's some enrolement fee for them to collect, I seem to remember they used to have 'accredited trainers' way back in the past that they dropped. I'd guess the more people they see being directed to their exchange the better, regardless if the punter is getting value for money.

[Derek27]

The tipping industry is only likely to be cleaned up if people stop subscribing without any evidence or reason to believe that they are genuine. As long as there's a demand for bad tipsters there will be a supply.

I remember in the 1980's it was assumed that anyone who sells tips must be good, but that shouldn't be the case now.

[ruthlessimon]

Nothing is ever going to be perfect but if you want to 'clean' up the tipping industry you've got to start somewhere. Plus I'm not sure a breakeven trader is going to be much use if he's telling you all he knows and unable to make a profit, surely being able to save your money going to him is a plus point.

But is a profitable trader who is misleading going to be much use either? A proofing mechanism doesn't guarantee quality educational content.

That trader could get away with murder if they wanted. "Because what they are doing is working - look at the proven p&l". But by deliberately missing vital snippets of information in an education product - can blame their follows mentality & keep selling psychology advice

[Derek27]

Why would a profitable trader want to mislead students ?

[ruthlessimon]

Perhaps mislead is a bit strong, but mainstream education is inherently flawed because trading is 0 sum. That's not a very good marketing line.

[invisiblelayer]

The best book you can own is the one you write yourself: the record of all your bets/trades, It's the only book which can help you when you hit a losing streak. You do have some sort of edge don't you to start with? If not welcome to the shark pit of Betfair

[DRED1]

You're spot on Ruthless Simon
Theyre both as bad as each other.
DR

[DRED1]

I've done the lot
very early accredited trainers at Betfair
trainers in my house
Masterclass Course
Tossers with 3 brain cells and a lap top

you cannot cheat time

Of couse my Euro Lottery win helped me find this litany of failure
DR

[Iron]

Perhaps mislead is a bit strong, but mainstream education is inherently flawed because trading is 0 sum. That's not a very good marketing line.

I see where you're coming from.

If I were one of the top traders, I wouldn't sell info that could damage my edge (by sharing it) for less than six figures.

I would gladly give generic advice, but that isn't what people pay good money for...

Jeff

[ruthlessimon]

If I were one of the top traders, I wouldn't sell info that could damage my edge (by sharing it) for less than six figures.

Here's the caveat.

Education does work in a small trusted group / 1to1. A top trader as part of this group isn't looking for financial repayment - but the psychological satisfaction - that they have just changed a couple of peoples lives.

Money can't buy that & arguably it's worth more than 6 figures.

[gutuami]

This is a good example of what I was talking about. Wayne Bailey came on a course of mine ages ago and used the content in his book without crediting me. But that content is out of date now and some errors were made in the translation. He would not have had prior knowledge of the information. I doubt he would ever be able to prove that he has ever traded seriously TBH. But that seems to be the norm in the market, so not unusual in that respect.

I dislike making comments like that, but it is absolutely true. I could easily write something much better, just by being accurate and having had a lot of experience in the market. It really is the blind leading the blind a lot of the time out there. I'd hoped that the trading community would see through that, but I think the appeal of GRQ is just too overwhelming.

I like comments like that. The truth should prevail. In my opinion you are giving away to much information with your youtube channel. Most of the videos should be made available only for people from courses. Now the only real edge that remains is psychology. I also think that you contributed to increasing competition in the pre-race hr markets - although we can not verify that in any way. On the other side the people who are muddling the waters are decreasing competition so we need them too.
As for the topic of this thread I would say always learn from the best with a proven record. It's kind of a obvious statement but people still go wrong. All that you are acquiring is time - in the first place and then knowledge.