The tipping industry is only likely to be cleaned up if people stop subscribing without any evidence or reason to believe that they are genuine. As long as there's a demand for bad tipsters there will be a supply.
I remember in the 1980's it was assumed that anyone who sells tips must be good, but that shouldn't be the case now.
Best trading manual
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ruthlessimon
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But is a profitable trader who is misleading going to be much use either? A proofing mechanism doesn't guarantee quality educational content.spreadbetting wrote: ↑Tue Nov 21, 2017 4:31 pmNothing is ever going to be perfect but if you want to 'clean' up the tipping industry you've got to start somewhere. Plus I'm not sure a breakeven trader is going to be much use if he's telling you all he knows and unable to make a profit, surely being able to save your money going to him is a plus point.
That trader could get away with murder if they wanted. "Because what they are doing is working - look at the proven p&l". But by deliberately missing vital snippets of information in an education product - can blame their follows mentality & keep selling psychology advice
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ruthlessimon
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Perhaps mislead is a bit strong, but mainstream education is inherently flawed because trading is 0 sum. That's not a very good marketing line.
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invisiblelayer
- Posts: 245
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The best book you can own is the one you write yourself: the record of all your bets/trades, It's the only book which can help you when you hit a losing streak. You do have some sort of edge don't you to start with? If not welcome to the shark pit of Betfair 
I've done the lot
very early accredited trainers at Betfair
trainers in my house
Masterclass Course
Tossers with 3 brain cells and a lap top
you cannot cheat time
Of couse my Euro Lottery win helped me find this litany of failure
DR
very early accredited trainers at Betfair
trainers in my house
Masterclass Course
Tossers with 3 brain cells and a lap top
you cannot cheat time
Of couse my Euro Lottery win helped me find this litany of failure
DR
I see where you're coming from.ruthlessimon wrote: ↑Tue Nov 21, 2017 6:00 pmPerhaps mislead is a bit strong, but mainstream education is inherently flawed because trading is 0 sum. That's not a very good marketing line.
If I were one of the top traders, I wouldn't sell info that could damage my edge (by sharing it) for less than six figures.
I would gladly give generic advice, but that isn't what people pay good money for...
Jeff
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ruthlessimon
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- Joined: Wed Mar 23, 2016 3:54 pm
Here's the caveat.
Education does work in a small trusted group / 1to1. A top trader as part of this group isn't looking for financial repayment - but the psychological satisfaction - that they have just changed a couple of peoples lives.
Money can't buy that & arguably it's worth more than 6 figures.
I like comments like that. The truth should prevail. In my opinion you are giving away to much information with your youtube channel. Most of the videos should be made available only for people from courses. Now the only real edge that remains is psychology. I also think that you contributed to increasing competition in the pre-race hr markets - although we can not verify that in any way. On the other side the people who are muddling the waters are decreasing competition so we need them too.Euler wrote: ↑Tue Nov 21, 2017 12:28 pmThis is a good example of what I was talking about. Wayne Bailey came on a course of mine ages ago and used the content in his book without crediting me. But that content is out of date now and some errors were made in the translation. He would not have had prior knowledge of the information. I doubt he would ever be able to prove that he has ever traded seriously TBH. But that seems to be the norm in the market, so not unusual in that respect.
I dislike making comments like that, but it is absolutely true. I could easily write something much better, just by being accurate and having had a lot of experience in the market. It really is the blind leading the blind a lot of the time out there. I'd hoped that the trading community would see through that, but I think the appeal of GRQ is just too overwhelming.
As for the topic of this thread I would say always learn from the best with a proven record. It's kind of a obvious statement but people still go wrong. All that you are acquiring is time - in the first place and then knowledge.
If I knew which numbers would pop up on the lottery I certainly wouldn't share that with anyone. On the other hand, if I was a world champion chess player, writing books and giving away all my thoughts on openings, tactics and strategies wouldn't jeopardise my position for obvious reasons. Giving trading advise is more akin to the latter. Most people who take your advice won't be trading the same race, the same horse, the same time, or the same price, unless it's a system with a very specific application.Ferru123 wrote: ↑Tue Nov 21, 2017 6:33 pmI see where you're coming from.ruthlessimon wrote: ↑Tue Nov 21, 2017 6:00 pmPerhaps mislead is a bit strong, but mainstream education is inherently flawed because trading is 0 sum. That's not a very good marketing line.
If I were one of the top traders, I wouldn't sell info that could damage my edge (by sharing it) for less than six figures.
I would gladly give generic advice, but that isn't what people pay good money for...
Jeff
that is very true. but at the same time the foundations will be right. you would head in the right direction. And that is very important.
Sure, but we aren't talking about a pro taking someone under his wing - something I've been lucky to be the recipient of.ruthlessimon wrote: ↑Tue Nov 21, 2017 6:56 pmEducation does work in a small trusted group / 1to1. A top trader as part of this group isn't looking for financial repayment - but the psychological satisfaction - that they have just changed a couple of peoples lives.
Money can't buy that & arguably it's worth more than 6 figures.
We are talking about a course that anyone who stumps up the course fee can attend.
Jeff
There are so many successful traders using the exchange that a few more will make no difference. Besides, there are always bookies and punters chucking money onto the exchange, together with traders who don't know what they're doing. Then there might be people who buy your book but just don't have the skill or capability to follow the advice through.
Successful traders make money not just by winning, but by cutting out the mistakes, reducing losses and avoiding disasters. Giving away everything you know about trading could result in a new trader not blowing his life savings on the game, without teaching him to make a living or even a profit.