[Tradewinds]

If I were going to sell a trading system, or have someone pay me for a trading course, I would make them a guarantee. I would guarantee that they will make money in simulated trading within a certain time period, or I will give them 110% of their money back. That is the way I would do business. And I wouldn't charge them much up front. If I could teach someone to make money trading, then they would have plenty of money to pay me later. If I can't teach someone to make money trading, then I shouldn't be getting anything.

[tacdog]

Originally Posted by Tradewinds »

If I can't teach someone to make money trading, then I shouldn't be getting anything.

If only the entire trading education world were like that........

[Tradewinds]

I think that many people like to pass along knowledge that has been acquired. It makes us feel like we have value, and it can give us an ego boost. So emotionally and psychologically there is a benefit to telling other people what we know. If we can get paid for telling people what we know, then there is also a financial benefit. But it seems like there are conflicting motives for someone to write a trading book, sell a system or a subscription, or sell any other information. If the information is so valuable, then why don't people just keep it to themselves?

[MightyMouse]

If you are giving a 110% guarantee, I would like to buy your first 10,000 subscriptions.

[Tradewinds]

Originally Posted by MightyMouse »

If you are giving a 110% guarantee, I would like to buy your first 10,000 subscriptions.

One per customer. Sorry! But seriously, there is no point in selling a trading system, indicator, subscription or anything else if it actually does make money. If it really does make money, then I will never tell anyone about it. I will hire employees to trade my system. I will run a trading room where people can trade my system. But it would all be "black box". No one will ever see what is on the inside of that little "black box".

But I could still sell my system for a 110% guarantee and not loose money. In fact, I would guarantee that you would make money in LIVE trading. Because I would have a verification system that the customer didn't intentionally loose money in order to get the 110% back. Let's say I charged $10,000 dollars for the system. You would get $11,000 dollars back if you lost money in LIVE trading. Yes, I know that I said sim trading before. And I would put in the contract that you would have to loose more than $1,000 dollars in live trading. So ultimately, you would have a net negative. So would I, but I probably would not get a lot of people who just intentionally wanted to loose money in order to mess with me.

Then, if they couldn't make money in live trading, I would have it in the contract that they would have to stop using the system. So they wouldn't be able to trade the system either. So the customer would still have a net negative, and they wouldn't be able to keep the system. Remember, it would be "black box" indicators. So it would all be locked up, and have an expiration date. All kinds of software has that.

If I was selling a system that was not black box indicators, I would set up a system where I would be part owner of your broker account. Yes, I know, I know. No one would ever agree to that. But that would be their loss. If they don't want to make tons of money trading, fine, then don't buy my system. It will be a crushing blow to my ego that will take a few days to get over, but hopefully I'll pull out of it.

[MightyMouse]

Originally Posted by Tradewinds »

One per customer. Sorry! But seriously, there is no point in selling a trading system, indicator, subscription or anything else if it actually does make money. If it really does make money, then I will never tell anyone about it. I will hire employees to trade my system. I will run a trading room where people can trade my system. But it would all be "black box". No one will ever see what is on the inside of that little "black box".

But I could still sell my system for a 110% guarantee and not loose money. In fact, I would guarantee that you would make money in LIVE trading. Because I would have a verification system that the customer didn't intentionally loose money in order to get the 110% back. Let's say I charged $10,000 dollars for the system. You would get $11,000 dollars back if you lost money in LIVE trading. Yes, I know that I said sim trading before. And I would put in the contract that you would have to loose more than $1,000 dollars in live trading. So ultimately, you would have a net negative. So would I, but I probably would not get a lot of people who just intentionally wanted to loose money in order to mess with me.

Then, if they couldn't make money in live trading, I would have it in the contract that they would have to stop using the system. So they wouldn't be able to trade the system either. So the customer would still have a net negative, and they wouldn't be able to keep the system. Remember, it would be "black box" indicators. So it would all be locked up, and have an expiration date. All kinds of software has that.

If I was selling a system that was not black box indicators, I would set up a system where I would be part owner of your broker account. Yes, I know, I know. No one would ever agree to that. But that would be their loss. If they don't want to make tons of money trading, fine, then don't buy my system. It will be a crushing blow to my ego that will take a few days to get over, but hopefully I'll pull out of it.

Tradewinds,

You are better off if you do not tell anyone because if too many people trade it, it won't work or won't work as well since trading is a zero sum game.

Consider a poker example. If you create a poker-bot to play at a table of 10 players and it has an edge over each of the other 9 players, you will eke out a profit from that table. If sell a copy of the poker-bot to one other guy, then the two of you will make money off the other 8, but not off each other since you do not have an edge over each other. Each person who uses the bot at the table reduces the amount you make from playing poker to the point where if all 10 players a re using the same bot, then the rake will be divided equally and in the long run all of you are losers in spite of the fact that you are trading a winning strategy.

On the other hand, a course that could teach a trader how to properly read a market I think would be worth the traders weight in gold. I do wish that someone sat with me and taught me what I have learned without cutting through all the bull shit.

MM

[shakespeare515]

Tradewinds and Mighty Mouse,

Good conversation, But you are missing one perspective, that of the forex mentor...

Consider this..

A professional sports team holds spring training try outs. This professional team has the best coaches money can buy, who have developed the best curriculum (training program) possible, using top of the line equipment and facilities. However, of all the pro athletes in attendance, some will be all stars, some will be second stringers, and yes, there will be some who frankly get cut from the team.

for those athletes that get cut, who's fault was it? was it the coaches? was it the equipment? No. The difference is INSIDE EACH ATHLETE. You see there is a level of personal responsibility that comes with learning a new skill and then using that skill to achieve success. maybe it's perserverence, maybe discipline, who knows? it's different for everyone.

I guess what I am trying to say is that it is not about the system, it is about the INDIVIDUAL TRADER, a good trader can make almost any system profitable, but a lousy trader will lose money with a profitable system. So it is noble of you to offer 110% refund, but you would be making the mistake of believing that YOU can single handedly make someone successful, and that is simply not true.

Does Harvard give you a refund on your tuition if you are not successful in the career of your degree? Not hardly. But do you doubt the credibility of that school? of course not.

Some people are just not cut out to be traders. and if you offer unrealistic refunds, you will be out of business and will not be able to help anyone.

Just my two cents...

...good trades,
Sam

[GlassOnion]

Originally Posted by shakespeare515 »

Tradewinds and Mighty Mouse,

Some people are just not cut out to be traders. and if you offer unrealistic refunds, you will be out of business and will not be able to help anyone.

Just my two cents...

...good trades,
Sam

Or, at the very least become frustrated.