For few years, offers of online forex/stock market courses/trainings, from “online universities” flourish..
But is it really the best way to learn trading?
This activity where more than 90% of retail traders consistently lose money.
if I propose to you to transform 3000$ into 30 000 $, with a 1 chance on 10 you will certainly answer me: NO way!!Then why with so low probabilities to make money so many newcomers are enrolling these courses?
Certainly because of the appealing promises of financial freedom, fire your boss, work when you want from where you want, become a profitable trader within 12 months from the comfort of you home… “with this unique training”
A booming industry
Global E-Learning market to Reach $325 billion by 2025 (Research and Markets) from $107 Billion in 2015 (Forbes).
In the Forex/Stock market segment I would say the dream selling industry “coaches” are getting younger, sometimes just over their twenties!!
Probably most of these “coaches” wouldn’t do this job if they had to coach you everyday individually hour after hour supporting you to achieve small progress on your path to become a professional trader, why would they if instead of this they can record videos (that too often are nothing more than a PDF slide with a voice over) then stalking future ” students” on social media, heavily spamming your email with messages like: ” tonight my webinar will change your life forever, secure your seat asap!”
The millionaire trading coaches – their Top skill: trading? NO, marketing!
Online students pay for their training (in average) between 1500 to 9000 euros to enroll.
We all got to see these appealing offers:
A wonderful promotional video, on an endless landing page boasting all the merits of this “Unique training “worth
90000 euros that you can get for 1999 only if you pay cash within the next 48 hours, because my friend, look at the countdown! this offer will expire in less than 48 hours!
hurry up! don’t think too much! And you have a 30 days money back guarantee…
Still not convinced? I will give you my special bonuses worth thousands of $: my crypto (pdf) training (value 499 e) + 12 months email coaching!! (really? can we coach by email??? :)) + 6 webinar coachings (where you will be able to wait long hours to ask you your questions, that be will quickly answer because 20 others are waiting in line and it’s already late evening)
Still not convinced? Look at these fabulous success testimonials about my training (that’s where bought on fiver for 10 $ each…)
Doing so, with talented marketers, traders that didn’t make it with trading, finally made it by selling their trainings. Morality: if you”re not a good trader, never give up, LEARN MARKETING!…
WHAT IT REALLY TAKES TO BECOME A PROFESSIONAL /SUCCESSFUL TRADER ON THE MARKETS?
A real COMMITMENT from you, and a STUDENTS FOLLOW UP from your coach
The reality is that You can’t commit to a video a pdf or an online webinar
We all know the stats of less than 10 % of profitable retail traders on the markets.. but what is the success rate of students trained in video? probably not more.
As a matter of fact, we’ve personally seen examples of “online” students that started at 12 months training from an online university (for 7990 e), then because of the lack of results, and the great persuasion of another “guru” started 2 years after a training from a competitor “school” for 3500 e (lifetime), not happy with the method switched to another competitor asking (only!) 99euros per month (lifetime if you don’t cancel). This is not an exception.
The N1 cause of this failure is the lack of (personalized) follow up from the coach
A personalized coach, physical or on 1& 1 Skype sessions will create this bond that will trigger a commitment thousand times more efficient than webinars mass “coachings”.
Acquiring the right routines/ automatisms take time in trading like in any other high level discipline, we can’t become a trader in few webinars as we can’t become surgeons or chartered accountant in 12 months.
Looking at the greatest performance coaches on the planet like Tony Robbins, you will see that they working will live “immersion” events, where you can even walk on fire if you feel able; but then when you come back home and the momentum could slow down Tony Robbins Life Coaches will follow up and ensure that you keep the momentum, they will trigger the commitment in by making you accountable of your progress to another individual. This is the 2nd key of successful coaching : accountability.
A personal coach will become a trusted friend who wants and expects the best from you and will challenge you to perform at your best. Doing so, you’ll form a unique mentoring relationship with your personal coach. He will be able to provide you with objective and impactful advice.
Does that mean your personal coach will be better than you in the specific goal you are focusing on? Not necessarily. Coach Phil Jackson was never a better basketball player than Michael Jordan or Kobe Bryant. But Coach Jackson was outstanding at developing a winning game plan, and bringing out the best in his players. The same can be said of other legendary coaches like John Wooden – quality coaches drive quality results.
Now make your calculations for the price of a 5000 $ online video training how many 1&1 sessions you could have from a passionate coach (that is not running after your wallet), if you find the right professional it could be even far less expensive and for sure it will more efficient.