False. The vast majority of trading "gurus" are snakeoil salesmen who either don't actually trade themselves, or who do trade but will not produce audited profit and loss statements.
Now think about that.
If I was a successful trader, and I was charging others to learn how to trade my supposedly "successful" method,
shouldn't I be able to prove that I can actually trade myself before I have the gall to ask others to pay me for instruction? If you don't think so, I would like to tell you about my new mail-order qi blast classes. For only 3 payments of $10,000 I will teach you how to knock people out without touching them.
Yet none of the "gurus" will provide audited account statements.
I wonder why
Could it be because they know they are just BS'ing the gullible?????
Note that this is very similar to the fat martial arts instructors who don't spar with their students because they are "too deadly." And the students are just expected to take that at face value and the teacher never even has to demonstrate anything or do anything.
"I'm too deadly because I say I'm too deadly, and if you don't believe me you can get out of my class and not learn the secret deadly qi arts."
"I'm a profitable trader because I say I'm a profitable trader and if you don't believe me, get out of my seminar. I don't have to provide audited proof that I'm not a liar. Now give me your $3,000 so I can give you a vague lecture about how to make millions trading like I do because I'm so rich and successful."
The most hilarious part is when you ask those trading "gurus" questions, you get vague advice.
Here is an example:
A trading "guru" tells you that when condition
x happens, Yom u do
y. So a student follows the instruction to the letter (which is often hard, since "gurus" are typically intentionally vague), and blows his account. The studennt asks the "guru" what went wrong and shows him his examples. The guru replies with some vague nonsense like "you need to do what price tells you to do." Now one of two things happen: 1) the student realizes he has been had, or 2) the student is a gullible moron and thinks he has just been given some sage advice and goes home to waste more time and money trying to learn something that doesn't even work in the first place.
There was one famous trading "guru" (scammer) who, when someone asked him about how it was possible to predict price direction, replied "I don't need a weatherman to tell me if it's going to be raining 5 minutes from now." Hopefully you guys realize that 1) that analogy isn't even valid in the first place, 2) it was intentionally vague and misdirecting, 3) it didn't answer the question, and 4) gullible people would actually be satisfied with that answer, as if he had just dropped some fortune cooking "guru" advice on them.
Compare that with this:
A quant is working at a hedge fund and his simulations aren't working as expected. He shows his examples and data to another guy there who gives him
specific, quantifiable corrections, he makes the modifications and gets his predicted results. This is what you
should expect anytime you ask anyone in a teacher/instructor position anything about anything.
Some of you guys need to read up on the psychology of sales scams.
btw, remember my $10,000 qi blast classes? Well if you don't experience success, it's obviously because you're not training hard enough, so don't even think of emailing me and telling me that you have questions about my instruction or that you aren't able to knock people out without touching them yet, because if you aren't having success it is your fault, not mine. My qi blast methods work because I say they work, I don't have to prove myself to you. You just have to train harder. Now stop wasting my time with your laziness and train.
I know a few of the real estate "gurus" have gotten into legal trouble for similar reasons (I forgot their names but I saw something in the news about it a while ago). It doesn't matter, though, because if you watch 5 seconds of their commercials you can tell they are full of BS.
I can't figure out if some of you
are the "gurus" or if you're just the kind of people who take real estate investing seminars and pay $2,000 for a book full of vague advice sold to you by a Guy Smiley who makes you feel really good but doesn't actually teach you anything useful.