Many students come to me for training being self taught, mostly babypips. Now, I have nothing against babypips, I think it is an excellent site to learn what the market is all about and a good place to get some vital basic knowledge. Then there are students who actually paid and did training courses with other companies, yet make no profits! When I gauge where the students are, I come to know that they lack the very basics of the market and have no idea how to analyse. This is sad! Most of them telling me how they are using indicators as a strategy; that they were promised they will make millions and yet, many of them still think forex is a scam. This again I say, is sad!
So let me concentrate one these people just a moment: It is as simple as 1;2;3 (Selling techniques 101)
So you attend your free class! You are excited. The men enter the room with trumpets and whistles, clapping of hands and suits and watches to die for! You just happened to see the sports cars outside the hall. So they start with their selling techniques, that is right; this is not your free lesson son. This is a presentation. They come to market themselves.
Step 1) VICTIM – You hear the sad stories – you relate. They tell you about their dreams – you relate. They tell you about how they got out of that god forbidden place! You are moved, because you also have dreams right? You also want a better life; you would also love a life half as good as theirs!
Step 2) HERO -They bring in “the guy”! The absolute best of the best, the Mr. know how! This guy tells you how good he is! How easy it is under his wing. With his guidance, with his help anybody can make it! He is the true trader! He knows the market; he is uniquely blessed! you never realised it was so easy! If only you met him, earlier! Right?
Step 3) GURU – With this course YOU can be US. They ask you closed questions, they get you to say “yes” a lot. Are you struggling? “yes.” Do you want a better life? “yes.” Are you ready? “yes.” And by now you are so hyped up, your ears are singing and all you can think of is when you will buy your own car! Then they move to the kill: Are you joining us!? And you say :YES!
And the whole crowd goes berserk because remember: It is also on special! Just for today, you have to move quick! You have to pay a deposit or the deal will be closed and there are only a few seats left! So you put down you deposit, you pay for the course, ready to be taught by these rich men who are clearly leaders in the industry; taught by true traders themselves and then……
A few weeks later you arrive at your promised training course that you saved for, for a long time. In the hall it is much quieter now; all the hype is gone, just a few paying customers waiting to be trained by the “big boys”! Someone enters the room, dressed nicely and introduce himself as the trainer; you are a bit disappointed because you expected the guru here. You guess he is sick or in some other meeting. You are wrong! These salesmen dont train, they sell! The neatly dressed person in front of you is the trainer, this guy is getting paid to train you, there is no guru here. This guy also did the course only 2 months ago!!
The salesman left the building and is now busy with the next hyped-up meeting to tell more people how they will help them trade and make millions, but they won’t! The chances are that you will never see them again, you follow them on social media, you see more cars, more watches, even planes! But now that you know what trading is all about, you realise that you dont ever see them analysing the charts, you dont see them showing any trade setups, just more on how much money they are making, more false profits after the market moved and you missed out yet AGAIN! It always seems they are catching all the right moves and your account is going backwards and you dont understand why? It is posted dated son, they manufacture these trades, always showing what the market did after the market has done it. Ever wondered why they dont give trade setups to you before the move? Because they cant, they are not traders!
These are businessmen, salesmen and con men!
Why should you be hyped up and be motivated to buy anything anyway?
What does a motivational speech have to do with trading? It is just selling techniques. You can sell anything from cars to sprinkler-systems with these techniques. It is even sadder to see some churches use it just before they take up the offering!
Get yourself decent training and in a mentorship program by someone with a reputable reputation. Dont settle for second best! Dont settle for last month’s 5 star student. He also paid for the course only 2 months ago, just like you!
Next time I will share some tips on how to choose your mentor: Signs to look for.
So the next time you see these lifestyles sellers, think of how many people they fooled that pays for it, including you!