Last Updated on 11 September, 2023 by Samuelsson
If you go by the words “those who can’t, teach”, then you may ask yourself why successful traders who claim to make a ton of money sell courses to teach others to trade?
Some traders teach and sell courses because they have an honest desire to help others learn and share their knowledge in the world. Other traders sell courses because they want to make money. Since trading can be a lonely endeavor, many traders also teach to find contexts to socialize and meet new people, while also bringing their skills to the world.
Trading is not an easy job, and it’s not easy to teach about trading either. Both require energy, time and dedication and provide substantial incomes for those taking part in either activity. On the internet, there are many scams that try to earn money from teaching something they do not know. Still, that does not mean that you can not find good courses online!
Let’s have a closer look at why traders teach, and what you can do to try to tell scams from the real deal!
Why Traders Teach
For many traders, their work consists of sitting for themselves in front of the computer screen for many hours. Repeat this for days, months, and years, and you quickly understand that it can become lonely. Especially if you don’t have that many friends or acquaintances to visit in your spare time!
Even though trading is exciting and can keep you working for an entire day sometimes, connecting with people is also important. Traders know that and try to find various methods to keep their social life balanced.
Some go to parties, others join clubs, and a part of them decide to teach.
How Teaching Can Help With Loneliness
One method used by traders to maintain a healthy level of social interactions is to teach by offering their own trading course. Sharing knowledge and experience is one useful and productive way to connect with people, chat, interact and stay up to date with what happens in the industry.
Teaching doesn’t only help traders meet new people and interact more, but also gives them a sense of belonging to a community that shares the same values and perspectives. Being part of a team, classroom or group of acquaintances is important for our health.
While traders often lack this part of their life because this is kind of a lonely job, teaching is there as a good alternative.
Many traders make good money from their profession and they love it not only because it’s exciting and interesting, but also because it offers a flexible schedule. However, traders that make a lot of money and get to chat with other traders on the Internet tend to feel lonely as well sometimes.
Let me explain why!
As a human, you are part of several groups – family, friends, couple, workspace, etc. You hang with people you love and enjoy that. The only problem is, during work hours, it’s difficult to find someone to match your flexible schedule. Friends are working, so are family members and so on.
Some traders open up their own businesses or travel abroad a lot. Some traders do find other ways to socialize, such as parties or joining different groups, but it’s difficult to be part of something and yet not having anyone understand you.
Teaching is a great way for traders to enhance their skills and contribute to society and also socialize with people that have the same interests. Finding other ways to socialize is possible, but it’s mostly superficial. Teaching, on the other hand, is an honest and great way to connect with real people that have a real interest in trading. Getting to know people that share your interests tend to work the best!
Are All Courses Legit?
Trading is a very popular career worldwide, but there is only a limited number of great teachers out there. Traders that make a lot of money do teach and have some excellent courses.
However, trusting just about anyone that says he is a real trader and can help you get rich overnight is not the way you should go about it. In this field, as in any other, there are false trading vendors who do not trade themselves. They will probably sell you incredible, hard to believe ideas about trading and getting rich fast and easy.
Of course, these are not legit courses worth your money!
In this article, we have a look at if you can learn to trade without a course, by yourself!
Avoid scams: What You Should Look for When Buying a Trading Course
In order to differentiate between well-intended teachers that also trade and scammers who only want to sell you a training package without having any major skills in the field, you need to pay attention to some very important signals. Here we have listed a few of them.
Amazing Promises -Are you promised to get rich quickly with minimal effort? Well, then you have come across a scam!
Trading never is easy, and requires a lot of hard work if you want to succeed!
Experience – First of all, when you are looking for a trading course, make sure you first check the experience of the teacher. In order to really learn new skills and become a better trader, it’s important to choose someone with at least 5 to 10 years of experience. Maybe more!
There is one major reason for it.
A person with more than 5 years of experience has mastered the trading skills, and have also experienced the ups and downs of the market. Because of that, they refined their trading skills and are now better professionals.
There are several online courses taught by people that are just starting in trading. But do you really think it would be a good idea to learn from someone that inexperienced?
Passion – It’s important to look for someone who is trading and teaching with passion or at least a genuine interest in trading. Preferably, go to a free workshop or event to see your future teacher in action and meet him/her. Your future teacher should be able to convey information in a simple and clear way, give you many examples and speak about this field confidently.
Look for References and Reviews – With all the technology we have today, it’s impossible not to find information about courses in trading. After you did your research on available courses on the market, also do a little research on available references and reviews. A serious course will be referred and reviewed online; you will be able to find official information about it (website, social media channels) and if you contact them directly, they must be able to answer all your questions.
Plus, look at what other people are saying about the course. Did they find it useful? Did they like it? Are there any negative comments? This will help you make a better idea of how will your trading course be and if it’s worth the money you’re going to spend or not.
Look them up online; check out their social media channels, videos, and any online articles about them. You will be surprised by how much great information you will find.
The idea that trading teachers are all failed traders or scams is not true. In fact, you are losing important knowledge and skills if you only look at it from this perspective. As in any other industry, there are great courses, excellent teachers and programs you should check out.
Of course, there will be scammers and less-experienced teachers that don’t trade but rather try to scam you for your money. It’s important to understand that teaching is an honorable way to pass on knowledge, a great way to meet new people and avoid the loneliness of trading.
So, instead of avoiding trading teachers, start looking for the ones that can inspire you. Follow them on social media, read their blogs, and go to the free trading workshops. You may be convinced in the end that not all traders who sell courses are necessarily failed professionals!
Read more about: how to find a trading coach