Get Rich Quick Trading Courses

I love those full page ads in financial publications telling me how wonderful their class is and how it will make me rich – or my money back. Yeah, and pigs can fly.

Most of the classes will provide a book, various manuals and software. There will probably be real time trading classes taught by an experienced trader. He does know what he is doing as he has been doing it for YEARS. There are nuances to any trade that is made during class that cannot (will not) be explained to the students.

What I have seen of some of these classes is they try to teach everything about how to trade. The options classes are the worst as they teaching highly sophisticated techniques that a novice should not attempt.

They don’t tell the student who has probably paid several thousand dollars for the course that he should learn only one, two or at the most three techniques and learn them well. They try to teach all about everything. No normal person can absorb it much less apply it in real time by themselves. Of course, you must become a technical analyst also. Usually that is an extra class for additional money.

I have seen new exchange members tapped out in about 6 weeks. They would not have bought the membership unless they thought they knew enough to survive. It is very different when you have your own money invested.

Having survived as an exchange member for 17 years and floor trader there is one thing I know. You are not going to learn how to trade with any piece of software or a few hours in a classroom. It is going to take time. A trader must devote many hours of study and paper trading until he has found the few techniques that work consistently. A really good method will work about 80% of the time, but not make great sums of money each time. There is no silver bullet.

Paper trading is totally different from real time trading when you have your own money on the line. Immediately emotions get in the way.

One other facet is never told to those parting with their money. You must have a certain type of personality to be able to handle the stress of making and losing money. There are many Type A’s, but that doesn’t mean you can be successful. It is a mental thing.

There are people who do teach traders to be successful. They change the mind set of the person. You can find books on it (best one is by Van K. Tharp), but I don’t know if that can be self taught. Floor traders who were making $50,000 suddenly jumped to six figures when coached by Dr. Tharp, but not everyone.

There is an old saying on how to make a small fortune trading. Start with a large fortune. If the program being sold is so good how do they keep their instructors?

Any class, book or software is only a start. It is a long road to successful application.

Al Thomas’ book, “If It Doesn’t Go Up, Don’t Buy It!” has helped thousands of people make money and keep their profits with his simple 2-step method. Read the first chapter at http://www.mutualfundmagic.com and discover why he’s the man that Wall Street does not want you to know. Copyright 2006 All rights reserved.