Wolves of Instagram: selling the sizzle not the sausage!

[spreadbetting]

To be fair they all skirted the issue, As Dan alluded to, they all have an interest in not pissing off BF.

The only way you piss Betfair off is by premium charge evasion , they couldn't care less if you avoid it by paying commission instead. There's always a lot of "nudge nudge wink wink" in the trading world all to imply people have nuggets not for sale

[spreadbetting]

I guess with the ebook side of things he's just maximising his income.

All three of them sell stuff.
Dan, his tennis ratings.
Caan, vids and ebook.
Peter, courses, 'learn to trade' vids, software etc

I'd have been very surprised if any of them attended the conference otherwise

At the end of the day it's up to people buying these courses/ebooks to do their own due dilligence as to whether they're going to get their money's worth.

[ShaunWhite]

At the end of the day it's up to people buying these courses/ebooks to do their own due dilligence as to whether they're going to get their money's worth.

Exactly, and it's worth working out beforehand exactly what it is you want to learn.

It's also not always the case that the ones who hype their skills the loudest, or have the biggest profits are necessarily the ones that teach a style of trading that suits your personality.

People often blame personality as a reason for failure, I think trying to fit a square peg in a round hole is a reason too. Even on here you get a mixture of 'pros', numbers guys, inplay race readers, botters, cold readers, footy, cricket, tennis specialist etc and from what I can tell, a pretty big range of personality types too.

[to75ne]

if you wish to learn a subject to any level be from an O level to a phd, or learn a skill such how to drive a car or fly a plane, there are reconised authorities who are legally able to award the relevant ticket that offers evidence that you have reached some level of abilty or authority in stated subject/skill.

that is the trouble with so called trading courses, there is no credable authority who can set a standard, and therefore anyone can run a course, publish books etc and can claim they are experts.

until there is a industry (if there is a trading industry personally i think it is a small part and parcle of the gambling world) accepted authority to set standards for such courses, and standards the teachers/instructors of any course have to have demononstrated they have achieved, ie a industry wide ticket, then sadly people such as mr webb and the badger (meles meles) and everyone in between are in the same boat, they both make claims that have not been reconised by any independant overseeing authority.

[ruthlessimon]

if you wish to learn a subject to any level be from an O level to a phd, or learn a skill such how to drive a car or fly a plane, there are reconised authorities who are legally able to award the relevant ticket that offers evidence that you have reached some level of abilty or authority in stated subject/skill.

.. & there are also authorities to revoke their "teaching status" should they underperform.

Just because my Physics tutor studied at Oxford, has had time awarded/theories tested at the HLC - doesn't necessarily make him a good teacher

Therefore, there would need to be a second authority, that sets a "benchmark", which is used to rank an educators performance (i.e. "what's the success rate of their students, compared to the benchmark of 5%"). That's such an important figure - more so than the credentials of the tutor.

If the Physics tutor above consistently didn't meet the benchmarked success targets; surely tptb are obliged to ask some very serious questions - & that this person is better suited to just practising Physics - not teaching.

It's too easy to hide behind good qualifications, & therefore level the blame at "lazy students" IMHO

[to75ne]

if you wish to learn a subject to any level be from an O level to a phd, or learn a skill such how to drive a car or fly a plane, there are reconised authorities who are legally able to award the relevant ticket that offers evidence that you have reached some level of abilty or authority in stated subject/skill.

.. & there are also authorities to revoke their "teaching status" should they underperform.

Just because my Physics tutor studied at Oxford, has had time awarded/theories tested at the HLC - doesn't necessarily make him a good teacher

Therefore, there would need to be a second authority, that sets a "benchmark", which is used to rank an educators performance (i.e. "what's the success rate of their students, compared to the benchmark of 5%"). That's such an important figure - more so than the credentials of the tutor.

If the Physics tutor above consistently didn't meet the benchmarked success targets; surely tptb are obliged to ask some very serious questions - & that this person is better suited to just practising Physics - not teaching.

It's too easy to hide behind good qualifications, & therefore level the blame at "lazy students" IMHO

all too true but my point is, there is no authority/reference/standard, not even an association, there is no base line just hear say. if somebody decides to learn to trade, and they read a certain blog or certain posters on certain forums, they could quite likely end up paying aussiebager as oppossed to somebody else. There are no reconised standards or authority.

[ruthlessimon]

I've always thought, the educator having a forum, is nice rule of thumb to determine a success rate. If there's a lack of "new blood" coming onto a forum - that speaks volumes (i.e. benchmark = 1 new "active" member per month). Of course they could be successful & just "get on with it"; but I like to think a successful graduate would feel obliged to "give something back to the community" - or stay in touch with that educator.

Perhaps a completely independent forum, could be the perfect "authority". If a user can prove they've taken "x-course" - then they have a valid opinion to that thread, & each couple of weeks they come back & explain how they're progressing - if they don't the worse is assumed (i.e. it's no good saying you loved the course, if you quit 3mths later) - I remember Dallas saying when they last logged in is a very good guide to failure rate.

An idea

.. because I can tell ya Tony, let's face it, there's never gonna be a "trading authority"

[Naffman]

Would they be giving out advice for free because they want to help people? No. But would they for money yes.

Would they put any meaningful information that might hurt their edge in the market? No. They'll just generalise, maybe put a few things in there that the reader hasn't thought of before and wants to test out to keep them interested

If you're earning thousands a week why would you need to spam peoples emails to sign up to a blog where products are displayed?

I only ask for 2 things - just get on with your trading and laugh at the b@dger

[to75ne]

.. because I can tell ya Tony, let's face it, there's never gonna be a "trading authority"

you are ofcause correct but the likes of you know who does grate with me.

I only ask for 2 things - just get on with your trading and laugh at the b@dger

amen to that especially the last bit.

[ShaunWhite]

i.e. "what's the success rate of their students, compared to the benchmark of 5%"

You've hit the nail on the head there.

I'd be looking for considerably more than 5%. Your 95% includes those who never get out of the starting blocks. Half?

Being determined enough to pay for training must surely get you to the 25% mark(?) By then you're looking at a 20% success rate.

[ShaunWhite]

I think we might both be wrong Si,

Perhaps training is the last chance saloon for those that aren't generally going to make it?
Perhaps almost everyone who's sucessful did it solo? Afterall there's enough info out there, and self reliance is a big part of it.

I've revised my benchmark, I think a trainer would be lucky to change anyone's fortunes

[ruthlessimon]

I just think the success rates are far lower than both mentors & mentees would like to believe - on a mainstream level.

However, 1to1/tightly-knit, all access, long-term etc - & everything changes - if that person is ready for it (& the mentor!).

[Naffman]

I swear it's the same people commenting on this forum (sorry guys ), that doesn't show that there are many people that grasp the concept of trading no matter how much money they spend

You either get it or you don't

[arbitrage16]

I swear it's the same people commenting on this forum (sorry guys ), that doesn't show that there are many people that grasp the concept of trading no matter how much money they spend

You either get it or you don't

That's a fixed mindset per Carol Dweck and not a great one for trading

[Naffman]

It's not a mindset its just a fact, I'm sure Betfair would back me up with the actual numbers