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"A truly accomplished trader, if he is really well-meaning and only
motivated
by helping others, would not charge a dime, because he can make all that
tuition money and more with his eyes closed, in the markets.
Otherwise, you are not a noble mentor out to help your fellow less
accomplished traders, you are just a business proprietor in the business of
"teaching", "instructor", or "tutor"."
This is pure bunk. First, why is this truly accomplished trader obligated
to give his knowledge to you for free? You mentioned you spent 15 years
learning your craft...do you work for free? And if so, how do then make a
living?
Secondly, the best relationships almost always derive from a scenario where
both parties have something at stake.
FWIW, I have done both and have come to the conclusion that the only thing
harder than learning how to trade is teaching it. It takes years to gain
the knowledge and experience to do this, and most people don't have the
resources to go through the process. Experience CAN'T be taught.
Bobh
----- Original Message -----
From: "Levent Erbora" <erbora@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, May 19, 2001 5:30 PM
Subject: Re: [RT] Mentors:What makes a good Mentor
>
> ----- Original Message -----
> From: "Ira Tunik" <irat@xxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Saturday, May 19, 2001 5:33 PM
> Subject: Re: [RT] Mentors:What makes a good Mentor
>
>
> > Why, doesn't the doctor give you back his fee if you don't get well?
Does
> a
> > lawyer give back his fee if he loses the case? Will the cleaner give
you
> back
> > your money if he doesn't get the spot out of your cloths? Have you
tried
> to get
> > your tuition and costs back from a University or any other educational
> > institution? Have you ever had an educational institution guaranty that
> you
> > would be a success if you took law, art, medicine from them? Have any
> ever
> > guaranteed that you even pass the bar, the medical exams, the Civil or
> > Structural engineering license tests? I doubt it very much.
>
> Ira,
>
> I think you have misunderstood the context of my remark.
> We were (at least I was) talking about how great a trader a "mentor" could
> be if he is trying to make money "teaching" others instead of trading.
> A truly accomplished trader, if he is really well-meaning and only
motivated
> by helping others, would not charge a dime, because he can make all that
> tuition money and more with his eyes closed, in the markets.
> Otherwise, you are not a noble mentor out to help your fellow less
> accomplished traders, you are just a business proprietor in the business
of
> "teaching", "instructor", or "tutor".
> And if you are willing to go through all the headaches, red tape,
> hand-holding, administration, marketing, customer service, etc. etc. of
that
> business for whatever income you are expecting, rather than TRADING for
that
> income, then that should tell us something about your trading expertise or
> abilities.
> If I choose to hire your services, ofcourse I would not expect a refund,
> just like the examples you have given above.
> But to say that the mentor is charging these exorbitant fees NOT for
> monetary gain or out of financial motivation, but JUST to HELP the student
> to learn better, just for the student's own good and benefit is
ridiculous!
>
>
> >You want to learn
> > how to make a living and you want someone to show you how to do it for
> nothing.
> > That seems to be the case.
>
> You are wrong. I KNOW how to make a living, and I am making a decent
living.
> I don't want and I don't need anybody to show it to me for free or for a
> fee. I have learned (and still learning) all that I needed to learn the
last
> 15 years.
>
> >You can't practice any other profession without a
> > license, but you can buy and sell stocks, futures and derivatives if
you
> can
> > put up the cash. So any one with 2 nickels to rub together is an
instant
> > professional trader, because some firm will open an account for him. If
> it
> > weren't for all of you out there willing to go it alone it wouldn't be
so
> easy
> > for the rest of us earn a living or just enjoy the fruits of our
trading.
> Ira
>
> Well, I did go it alone, and still do, I wonder why it is so easy for me
> too.
> Maybe I am trading against your students?
>
>
> Regards,
>
> Levent
>
> >
> > Levent Erbora wrote:
> >
> > > ----- Original Message -----
> > > From: "STEVE ROBERTS" <steve80866@xxxxxxxxxxxx>
> > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > Sent: Saturday, May 19, 2001 3:39 PM
> > > Subject: Re: [RT] Mentors:What makes a good Mentor
> > >
> > > > There is one important characteristic about learning for most
> learners:
> > > We tend to take most seriously that which costs us the most.
> > > >
> > > > As a psychotherapist I make sure that people pay enough that they
take
> the
> > > therapy seriously. Even in my pro bona work I make sure the people
pay
> > > something for just this reason.
> > > >
> > > > I and a few others on this list have gone for training with a
retired
> > > trader, who charges a significant fee. The fee is significant to us,
> but
> > > not that significant to him given his resources. This arrangement
> ensures
> > > that we take the learning very seriously.
> > > >
> > > > In theory, I think free is best, but most of us won't value it
without
> > > paying for it...
> > > >
> > > > Steve
> > > >
> > >
> > > If that were really the case, then I would expect these noble masters
to
> > > "REFUND" the money back to their "grashoppers" once the grasshoppers
> > > "graduated".
> > >
> > > Regards,
> > >
> > > Levent
> > >
>
>
>
>
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