I was watching this infomercial about how to become a power trader through a training course. I know that you can become more aware of productive methods regarding trading, but do you really think that it could be done in half a day? I would think you would’ve already needed to have had some kind of background, even if unsuccessful, to really gain anything from this type of course.
You can learn how to trade in a single day - in 18 hours of hard work, in fact you can get started trading in just a few days. But the best stock traders who have researched enough to beat the 10,000 hours rule still don't make consistently good trades and you won't be anywhere near that.
Now, I have to go Google the 10,000 hours rule. Just seeing that I've missed what is apparently a basic tenet of trading, let's me know that no, learning how to trade is not something that can be done in a single day or even 18 hours. It's just too much to learn and process to attempt to cram it in that quickly. Thanks for the new aspect for me to learn.
Also consider that those promoting those courses they sell have a vested interest in selling you on whatever it is they're selling. In such a highly competitive arena as trading, I'd be skeptical that anyone would actually be willing to share a method they developed that truly gave them an edge. They're most likely teaching a system that is no different from anyone else's and no more successful. If it was super successful, they'd keep it to themselves and continue to make triple and quadruple digit returns year after year as 95% of the other traders went broke and the other 5% made little or no gains.
Exactly. There is a reason why the very old saying still remains true: those who can, do and those who can't, teach! I can't imagine that stock whizzes would even take two hours away from their computer, much less half a day. It was just something interesting to watch and I do think they could cover some basics, but it would be more beneficial to someone that has already been trading and is probably looking to hear and see another perspective and then add a few things into their toolbox.
Although you could learn basic trading in a day, nothing is going to help you become a master at it that quickly, and I wouldn't trust a program like this. You're (people in general) definitely wasting money by purchasing it, and chances are high that there are no actual secrets contained within.
The idea of the 10,000 hour rule is a simple one. Just says that you nee 10,000 of practice on one particular thing in order to truly master it. So yea, if this course is trying to sell that it can make you an ultra successful trader in half a day, they aren't being exactly truthful in their pitch. I imagine they'll have some basics of trading in the course, but certainly nothing you can't learn on your own and likely a fraction of the cost of the course.
Thanks, Jamal. You're right, that is a simple rule. It's what I thought it meant, but I didn't know if there would be more to it and something specific to investing when I went to research it.
You can certainly learn how to train in just 1 day, but becoming a good trader will take more time. Just like with anything else, keep practicing and reading so you can improve yourself and adapt to market changes.
Learn to trade in one day? A bold claim, that. While you definitely can be convinced and delude yourself that you've learned enough in half a day, most of those people who do stock-trading have lots of experience in the business but occasionally make the wrong calls and lose money. Would a newbie fare any better? I think wading straight into trading after the short course would be the fastest way you'll lose the cash you invest.
