Thursday, 17 December 2015

The Things I Experienced In 2015


In this post I’m going to go over some of the most frequent things I’ve heard throughout the year, the questions I get the most, and the stuff I didn’t expect to face when starting a YouTube channel/Blog to help people learn how to trade.

Spam – This is something I did not expect to have to deal with. It seemed to happen overnight. One day I was posting videos as normal, the next day I was receiving spam messages. I would say I get at least two or three, every single day! They are all basically the same, so if I do happen to miss one, you should be able to spot the because they are invariably very badly written, and they say things like ‘Wow, I never thought I would be profitable at trading but now I make 150% per day!’ So if you see them, ignore the links! And I’ll also point out the WORST offender, which is the ANDY LANK SYSTEM. This is well known as a con if you do a little research, so avoid it like the plague.

Expert Beginners – I actually quite enjoy this, it gives me a chuckle every couple of weeks when an expert beginner comes along. It’s usually someone asking for some sort of advice, which I always give (I reply to all messages). However the ‘expert beginner’ will then override what I’ve said and tell me how what I’ve told them is incorrect and how I can improve it. This advice is almost always rehashed information from somewhere like Investopedia or ‘textbook’ answers. I always try and explain why I'm telling them what I'm telling them, but their passive-aggressive replies tell me it's falling on deaf ears!

Get Rich Quick – This is very common. I would say I speak to a 'get rich quick' person at least once every few days. I will receive a message from someone saying something like – ''If I take your course can I be a profitable trader in two months?'' Or something like, ''I only need to make X amount per week, how quickly can I do that?''

As always, I answer honestly. I’m looking to help people achieve their trading goals, not blindly sell courses to people who have a get rich quick mentality. What I say is that trading has over a 90% failure rate amongst retail traders. If something is difficult enough to cut down so many people, then I’m sorry, you’re not going to master it in a couple of months and I don’t care what training course you take or what the trader behind the course tells you. It can be hard to hear, especially when you're excited about the 'unlimited money I can make!' mentality, but it is very important to hear the truth. 

Think a minimum two years to become competent and profitable, much longer to ‘master’ the market. Although this differs from person to person. There are traders out there who have been trading for ten years and are still at best breaking even.

Once I deliver this information, 80% of the time I never hear from them again. I realise this is because they didn’t get the answer they wanted and so are searching for a trader who will fuel their fire and claim that yes, they can do it, all you need to do is just put your credit card details into my training course! It’s a shame, but it’s something I’ve come to realise I sadly can’t change. People in that mind-set aren’t interested in the hard fact.

Excellent People – I am most surprised by this and also delighted! I have spoken to so many brilliant people over this year, and it all started by me producing some videos and giving out some information that was useful (I hope!) to aspiring traders. There are so many determined people out there, all of them striving to improve, looking out the most useful information as well as being willing to share their stories and struggles. So thank you for taking the time to watch the videos and message me.

I hope I have helped as many of you to improve as possible! I have enjoyed it throughout the year and I am looking forward to next year where hopefully some of you will be in the live room. I’ve no idea how that is going to turn out but the intention is for it to be a social hub for you all as well as a place to follow my trades.

I hope you’ve all had a great trading week and year!

4 comments:

  1. James,

    I would like to thank you for taking the time out to write this blog, that addresses a lot of the issues faced by new traders.

    The videos are truly excellent an an insight into how to and how not to trade ( depending on the topic).

    Wishing you and your family a very merry Christmas and a very happy new year.

    regards Pari.

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    1. Thank you Pari, I'm delighted they have been well received.

      I hope you and your family also have an excellent holiday.

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  2. Hi James,
    I'm really happy that I have found your YT channel and foremost I took your trading course wich I absolutely loved it and help me a lot.I like your honest way and that's the most important you can give beside your knowledge. Keep up the good work and videos coming and thanks a lot.
    Cheers
    Gergely

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    1. Thank you. I'm very humbled by the positive responses I've had throughout the year.

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