Read on Twitter
This thread is about trading workshops that many twitter traders conduct and earn money off. You better take this thread seriously and save yourself money that you& #39;d rather throw away on a one/two day workshop to build a skill that takes atleast a year of single minded focus.
Workshops are great. Not for those attending them though. Only for those conducting it. This is the case with 99% of them out there. Only one or two workshop trainers are actually pretty good at getting you a head-start in the world of trading. The rest are pure dog-shit.
I have been following quite a lot of trading related twitter accounts for the last couple of years, and have seen the kind of stuff they post. One guy bought cars, homes, with the kind of money he made through conducting workshops. It works out very well for them.
The problem with this though is that both sides are greedy. The trainer is greedy for risk-free money. The trainees are greedy to make a quick buck. The trainees mostly are under the assumption that a 1 or 2 day workshop will suddenly make them super-profitable.
The kind of laziness I see in people who go to workshops is UNBELIEVABLE. I definitely know many legit traders on twitter (and also those who are fake) get regular messages from guys asking for their trading system or their method or even irrelevant questions like size, pnl, roi.
A lot of these twitter based workshop trainers who call themselves traders post MTM screenshots just to lure the gullible ones. And I can& #39;t even fathom how some dumbfucks (can& #39;t help but call them that) fall for these screenshots from zerodha or NEST or whatever.
Here - I made 32 lakhs profit in Gold off of a 24 lakhs investment.
This is the actual status, actual holding. If I had the stock/derivative name, and all the numbers right - don& #39;t you think the previous screenshot would look flawless? I made some flaws on purpose. It& #39;s easy to make things flawless, especially on Kite with some html changes.
And, on Photoshop, it& #39;s easy to figure out the font and make edits on NEST screenshot or any other broker terminal screenshot, coz they all almost always use arcane freely available fonts, and it& #39;s easy to edit and make things look real on screenshot.
For the really smart but lazy traders, they& #39;d often use two accounts where one hedges another, and post profits in one of the accounts. If you don& #39;t even know this kind of a dumb scheme/scam, you& #39;re absolutely doomed. How stupider can one get?
Some tra(iners)ders are smart enough to not be dumb, to make it believable, so they post losses also. But when you see their profits - it& #39;s almost always in lakhs. When you see their loss like once in a bluemoon, that& #39;s like 20-30k. Their comments sections are hilarious!
Hilarious because it just shows you how many wannabes and dumbfucks are out there believing in stuff like this which you can expose as scam with a little bit of research. Coming back to the point, almost all the workshops (except for one or two maybe) are worthless, useless.
I heard some workshops give you additional goodies like software packages that are actually CRACKED and not original, DAMN! I mean, i use cracked softwares and stuff too, but if I were to be a professional at that level, and if i decide to give software, I& #39;d buy it properly.
Especially with respect to trading, you don& #39;t wanna use cracked softwares of anything, as you don& #39;t know what& #39;s cracked (pun intended), and what& #39;s unreliable. And, you don& #39;t need cracked software to trade/test, honestly. You can use simple google sheets to make basic systems.
Other traders use the concepts of marketing so well, by charging eye-popping fees (50k and upwards) for a one-day workshop, which makes people think there should be equivalent value while the trainer peddles basic stuff you can find on books with a library membership worth Rs.250
These trainers enrich themselves at the cost of the trainees, who even after training aren& #39;t profitable or aren& #39;t getting where they want (primarily coz most of them are lazy) and keep going to workshop after workshop, lose close to few lakhs on workshops before giving up fully.
Some people want the feeling of validation, ego-stroking for themselves, that they are attending workshops and they are "networking" and getting to know "high profile traders" fooling themselves into believing that they are taking effort/growing. Crock of shit belief that is.
Add to that, most of these guys paying 25000 or 50000 or 10000 for workshops can& #39;t afford to lose that money. It& #39;s one or two months income for them. What more? Sometimes these workshops teach stuff for people with 25L or above capital and these guys can& #39;t even put 5L capital.
So, make no mistake. Stock market is where wealth transfer happens from dumbfucks to street-smarts. Nowadays, this trading training also comes under wealth transfer, where a lot of dumbfucks transfer their "can& #39;t afford to" wealth to street smart people, even if it is sad.
The one or two trainers/traders who have good experience and are legit, conducting workshops - even their workshops are useless if you haven& #39;t done ground work which most people don& #39;t. Mostly they are useful as supplementary knowledge-acquisition.
This trading-training is a huge market today. People make crores of money conducting workshops left and right, all over the country, during weekends. There are arguments for and against these. I& #39;ll put forth my end of arguments. And let this thread be a wake up call for you.
1. Look at all the hedge fund managers out there and how hard they try to protect their systems/edges/data. Look at Renaissance which is the best performing HF and how secretive they are. What does this say about having edges in the market over a long time - in being profitable?
2. When word gets out about a system/edge or what they call "ALPHA" - many traders/HFs crowd the edge, and eventually the edge dies out and becomes unprofitable. Which is why when someone has an edge, they protect it and fight tooth and nail to keep it confidential.
