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GlassOnion

Why Are Most Forex Authors Not Active Traders?

By GlassOnion, in Forex

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Mr_black    10

Mr_black
Posted
Most Forex Books Authors and "so called mentors" are not Active Traders. Why?

 

Would you trust the advice of someone who does not trade?

You can answer for yourself if I ask you Why the most profitable traders are not Authors....:2c:

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SIUYA    11

SIUYA
Posted

The whole finance industry is generally based on people giving advice - and those people giving the advice dont trade or invest. Often because they are restricted due to Chinese walls, or time restrictions on how long they can buy and hold....or because they are bad at it ;)

So yes - i think you can trust the advice of those who dont trade.

 

when it comes to FX, this is often a different matter as restrictions may be less onerous.....

 

But how do you know an author or mentor is not an active trader?

If they are does that mean their advice is valueless?

 

I would imagine you just need to be aware that the author is or is not actively trading and take that into consideration.

Personally - I might trust their advice, but i also might place little value on it.

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Gekko78    10

Gekko78
Posted
Most Forex Books Authors and "so called mentors" are not Active Traders. Why?

 

Would you trust the advice of someone who does not trade?

 

My guess is that they realized they can make more money selling books than trading.

 

 

No I would not take their advice. That is like a college professor or politician trying to give business advice based on theory and them having never actually done any of it themselves.

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DbPhoenix    42

DbPhoenix
Posted
Most Forex Books Authors and "so called mentors" are not Active Traders. Why?

 

Would you trust the advice of someone who does not trade?

 

Why resort to trust? Just test out whatever they say and see if it holds water. If it does, what difference does it make whether they are active traders or not? If it doesn't, what difference does it make whether they are active traders or not?

 

Unless, of course, one is too lazy to do the testing. Then it would be much easier and far more efficient to collect all one's money into a pile and set it on fire.

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wrbtrader    10

wrbtrader
Posted (edited)
Most Forex Books Authors and "so called mentors" are not Active Traders. Why?

 

Would you trust the advice of someone who does not trade?

 

Forex book authors or forex mentors are not "active traders" via the exact same reason that most traders are not active traders. Simply, most traders "inactivity" has nothing to do if they write books or not (seriously).

 

I remember a long time ago that most book writers were managers at some firm, market analysts on TV, university professor or someone that worked on wall street. Yet, somewhere along the time line during the late 90s (dot com explosion), anybody (secondary professionals) that had a trading account started writing online articles, writing educational forum message posts and then that slowly progressed into some of these secondary professionals getting into the book writing or mentoring.

 

Therefore, the real question is this...

 

Would you trust the advice of anyone beyond you're own advice to yourself about trading ?

 

If your answer is that you wouldn't trust anyone else, I hope you're a profitable trader (seriously).

 

By the way, here's an example of someone that meets your "trading inactivity". I just finish reading a book titled "Lending Stability to Europe's Emerging Market Economies" bu Dr. Holger Schmieding. He's well known in the Forex arena and he analysis are mostly good. Would I trust his trading advice even though he doesn't trade anymore and primarily now only does economic analysis and write books.? Answer: I don't know.

 

http://en.wikipedia.org/wiki/Holger_Schmieding

 

Note: He's now the Chief Economist for Berenberg Bank in Italy

Edited by wrbtrader

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