I don't think you understand what I'm saying Jeff - teaching somebody what you know will not make them as good as you.
The reason I'm not posting a video of a typical day's trading is that I don't think anyone would be interested in it - I'm not the trader that everybody aspires to emulate.
When I mentioned painting I was referring to art work, not painting a house, although I now realise it was preceded by two building trades.
Trading on Betfair is not fishing in a small lake; it's fishing in a gigantic lake, so big there are markets that nobody has time for, which is probably why I make money on US racing.
There must be thousands of traders that are better than me and make substantially more money. Another thousand wouldn't bother me, and if I ever join their ranks, it won't impact on their profits either.
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Kafkaesque
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I think the people arguing against passing on knowledge make valid points, but are disregarding two very significant factor (as long as we're talking 1-on-1 tutoring/mentoring, not full access only videos).
One, assuming you're not teaching some random Joe you met at the coffee shop, but someone who's shown potential and/or an aptitude for skills relevant to trading, then teaching someone else will nearly always teach you something about yourself. As a person, as a trader, in many ways. You may well see new angles when forced to (re)examine your own approach in a way that'll make it understandable to someone below your own skill level. It's been a huge plus in my experiences as a mentor.
Two, if the tutoring sticks and the pupil finds success, you'll have a fantastic sparring partner. Yep, they can be found anyway, but here there'll be inate understanding, because of the previous, close work together.
Those two factors far outweigh of adding one more sharp mind to a fairly vast pool of them.
One, assuming you're not teaching some random Joe you met at the coffee shop, but someone who's shown potential and/or an aptitude for skills relevant to trading, then teaching someone else will nearly always teach you something about yourself. As a person, as a trader, in many ways. You may well see new angles when forced to (re)examine your own approach in a way that'll make it understandable to someone below your own skill level. It's been a huge plus in my experiences as a mentor.
Two, if the tutoring sticks and the pupil finds success, you'll have a fantastic sparring partner. Yep, they can be found anyway, but here there'll be inate understanding, because of the previous, close work together.
Those two factors far outweigh of adding one more sharp mind to a fairly vast pool of them.
Excellent post Kafkaesque, teaching someone else something often leads to a much deeper understanding of the subject by the teacher.Kafkaesque wrote: ↑Tue Nov 21, 2017 11:19 pmI think the people arguing against passing on knowledge make valid points, but are disregarding two very significant factor (as long as we're talking 1-on-1 tutoring/mentoring, not full access only videos).
One, assuming you're not teaching some random Joe you met at the coffee shop, but someone who's shown potential and/or an aptitude for skills relevant to trading, then teaching someone else will nearly always teach you something about yourself. As a person, as a trader, in many ways. You may well see new angles when forced to (re)examine your own approach in a way that'll make it understandable to someone below your own skill level. It's been a huge plus in my experiences as a mentor.
Two, if the tutoring sticks and the pupil finds success, you'll have a fantastic sparring partner. Yep, they can be found anyway, but here there'll be inate understanding, because of the previous, close work together.
Those two factors far outweigh of adding one more sharp mind to a fairly vast pool of them.
I would be extremely surprised if this was the case Jeff. I would guess the main reason Peter does not give away everything he does for free on YouTube is that no one would then want to pay for his trading courses, and also all the people who had paid in the past for his courses would not be best pleased if he now gave away all that information for nothing.
BTW I am talking about discretionary pre off horse race trading here not any other type of trading.
I have met several people who have taken Peters course, comments varied from the course being extremely helpful down to it being of very little use. This is what I would expect with any trading course. None of the people I have met either in real or on line who have done the course said you will be profitable straight after the course. You will still need to put in a lot of screen time trading with real money before you are likely to become profitable. Most thought a minimum of a year would be required and more likely even longer.
So Jeff if Peter was to give away all his info on YouTube, how many people do you think would be prepared to trade and likely lose money for at least a year following the advice he has given. The chances are most people would give up long before a year was up, and instead would move on to the next trading guru, or tipster or what ever.
There are no short cuts to becoming a profitable trader, taking a course with Peter or someone else can help, and possibly prevent one going down the wrong path or down blind alleys. But when it comes to pre off horse race trading you need to put in the hours of screen time necessary to become profitable. As someone else said in this thread there is no secret sauce to trading pre off, it takes a lot of hard work and dedication.
I can give you a near perfect description of a market. How it's priced, how it trades, why it trades that way. I've come up with a beautiful equation that describes your objective in any market.
To say that speaking to me won't give you any more insight than somebody who has never traded for a living is a bit of a stretch. But by that measure, you could play a few rounds of golf with Jordan Speith but you won't win a major because Speith spent years getting to that level. To expect to replicate somebody of that ability is just not realistic. It's the same with any skill. You see the videos on YouTube they are all real trades but the thought process behind it is deep. I can explain it, but to replicate takes a bit more practice.
I've deliberately played down what I've achieved because I don't want people participating on that basis. You need to do it for whatever reason you see fit. I've always tried to be responsible and offer a realistic view of the market. I've just focused on being the best at what I do and if people want to find me, then I try and help as much as I can. But my core is trading and therefore my time is limited so I have to be creative in how I offer help. This forum is one of those outlets, YouTube another and I do offer training but that's gradually been less than in previous years because it's quite consuming and get less cost effective for me. But its trading that has been where I've made all my money, so that is where the focus remains.
Despite my knowledge, I still lose about 1/5 races and that's why people struggle with trading IMHO. Most people are looking for a make a million button, a simple process that they can follow with certainty and repetition and that is almost the perfect description of exactly what a trading market ISN'T. A trading market is naturally uncertain and plays heavily on your guttural instinct for safety, But in market terms that forces you into errors. You see it splattered all over the market in the form of biases that just won't go away and also in the sell side market for people trying to trade.
Promise to solve those problems and people will flock to you. As mentioned above, people just tend to cycle from one piece of advice to the next without realising they probably have a lot of the answers themselves already and/or they may be buying into something that has no basis in reality. I'd say this is higher now than at any point in my trading career. People do the same with software, they just surf on the free versions for ages.
But to be successful, you have to invest time and money to pursue your goal, just like any career. The more you put in the more you get out. One of the biggest leaps I made in trading was rewiring my brain. I realised that most of the best opportunities occur in ways, and at times, that people just can't see or won't accept. I was a hopeless risk taker early in my career but I see things very clearly now. Once you make that leap, you see it leaping out at you all over the place. Even in non-trading situations. People hold their inbuilt biases dearly and can't let go, but the ability to do so is the moment at which you learn how to exploit this eminently human behaviour.
I swear somebody would jump off a cliff just to prove to me that I was wrong and they can actually fly. Nothing I could do would stop them from doing that. If that's you, you won't make it as a trader.
To say that speaking to me won't give you any more insight than somebody who has never traded for a living is a bit of a stretch. But by that measure, you could play a few rounds of golf with Jordan Speith but you won't win a major because Speith spent years getting to that level. To expect to replicate somebody of that ability is just not realistic. It's the same with any skill. You see the videos on YouTube they are all real trades but the thought process behind it is deep. I can explain it, but to replicate takes a bit more practice.
I've deliberately played down what I've achieved because I don't want people participating on that basis. You need to do it for whatever reason you see fit. I've always tried to be responsible and offer a realistic view of the market. I've just focused on being the best at what I do and if people want to find me, then I try and help as much as I can. But my core is trading and therefore my time is limited so I have to be creative in how I offer help. This forum is one of those outlets, YouTube another and I do offer training but that's gradually been less than in previous years because it's quite consuming and get less cost effective for me. But its trading that has been where I've made all my money, so that is where the focus remains.
Despite my knowledge, I still lose about 1/5 races and that's why people struggle with trading IMHO. Most people are looking for a make a million button, a simple process that they can follow with certainty and repetition and that is almost the perfect description of exactly what a trading market ISN'T. A trading market is naturally uncertain and plays heavily on your guttural instinct for safety, But in market terms that forces you into errors. You see it splattered all over the market in the form of biases that just won't go away and also in the sell side market for people trying to trade.
Promise to solve those problems and people will flock to you. As mentioned above, people just tend to cycle from one piece of advice to the next without realising they probably have a lot of the answers themselves already and/or they may be buying into something that has no basis in reality. I'd say this is higher now than at any point in my trading career. People do the same with software, they just surf on the free versions for ages.
But to be successful, you have to invest time and money to pursue your goal, just like any career. The more you put in the more you get out. One of the biggest leaps I made in trading was rewiring my brain. I realised that most of the best opportunities occur in ways, and at times, that people just can't see or won't accept. I was a hopeless risk taker early in my career but I see things very clearly now. Once you make that leap, you see it leaping out at you all over the place. Even in non-trading situations. People hold their inbuilt biases dearly and can't let go, but the ability to do so is the moment at which you learn how to exploit this eminently human behaviour.
I swear somebody would jump off a cliff just to prove to me that I was wrong and they can actually fly. Nothing I could do would stop them from doing that. If that's you, you won't make it as a trader.
Love it! 
Korattt wrote: ↑Wed Nov 22, 2017 11:42 amknew it was around somewhere..
https://www.youtube.com/watch?v=o2z1XhEhS-Q&t=19s