Best trading manual

[Euler]

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 But that content is out of date now and some errors were made in the translation.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.

[iambic_pentameter]

Interesting comments, Peter - I bought the book and some bits were okay but I've learnt more from watching YouTube channels and being active in the market.

I would go outside, light a bonfire and burn it, but I got the Kindle version

I don't think the issue of GRQ will ever go away - the bottom line being, that topics like trading discipline, losing money whilst you learn, small stakes don't really lend themselves to a marketing letter.

Whereas:

Dear Friend,

Not so long ago, I was stuck in the 9-5 rat race. I had very little money and life was passing me by but now, my life has changed for the better.

How would you like to make money watching sport?
How would you like to work for less than 4 hours per day?
How would you like to be able to make money from the beach?
How would you like to end up disappointed, feel short-changed and have the sickening feeling that you've been had?

Well, send me £47 and I'll reveal the EXACT method I use - and trust me, it's SO simple, anyone with a laptop, a broadband connection and a cheese grater can do it.

Yours

Mr Con Artist

PS: Sign up today and I'll bundle my free report on how to automate the whole process (£29 value)

Will always sell better.

Iambic

[sionascaig]

Just a thought but Linus posted this link in a previous thread (about machine learning)...

https://medium.com/

It has an interesting business model where you can get remunerated based on views / likes & seems to contain articles from mainstream media organisations as well. Maybe a suitable place to publish any future articles...

Look forward to reading them however they come out )

[Trader Pat]

When I started out trading I fell into the same trap as a lot of newbies, I bought e-books from most of the usual suspects which I still have buried on my hard drive. Was doing a spring clean the other day and came across them so had a read... to anybody thinking of buying them dont. Its just recycled BS that for the most part can be figured out after looking at any market for 10 minutes and they all just parrot each other, theres nothing unique to one thats not in the other.

I've been on Peter's masterclass which improved my trading greatly and still have the manual I got with the course on my desk. Needless to say theres iniformation within that you wont find anywhere else and I still us it as a reference.

My advice would be to sign up for one of the courses that BA do but if you cant for whatever reason dont throw money away on any of the ebooks you can get from these others guys, the money would be better spent backing the outsider of a 20 runner field!

[Iron]

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!

[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