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You’ve probably heard the saying…
“Those who can, do. Those who can’t, teach.”
But is that really the case?
Well, I’ll share with you my thoughts on it (and it’s not what you think).
So go check it out and let me know what you think…
Forex Trading: Why Do Successful Traders Teach?
Trading as a Business — The Essential Guide
Hey, hey, what’s up my friend?
In today’s episode, I’ll talk about why I sell trading courses even though I’m a profitable trader.
I get this question I often, which I believe other trading educators get as well:
“If you’re such a profitable trader, why are you selling courses?”
“Oh, you’re a scam.”
Something along those lines.
So let me share with you 4 reasons why I sell trading courses.
1. You need money to make money
In trading, you need money to make money.
For example, let’s say you have a system that makes 20% a year.
On a $10,000 trading account, that’s about $2,000 a year.
On a $100,000 trading account, that’s 20,000 a year.
On a $1 million trading account, that’s $200,000 a year.
You’re using the same system and risk management. But the only difference is the size of your trading account. That has a huge impact on your returns.
If you don’t believe me, ask yourself this question…
Why do hedge funds all over the world raise millions, if not billions of dollars?
If they have such a profitable trading system, why don’t they keep it to themselves?
Why do they want to a trade that system while also having to handle investors’ relations, PR and stuff like that?
The reason is simple. Hedge funds know that they need money to make money in this business.
They might have a profitable strategy but without money, the strategy doesn’t mean a thing.
And if you look at the top traders around the world who has amassed a huge fortune, you’ll realize that most of them own their own hedge funds.
Because they need money to make money in this business.
So that’s the first reason – you need money to make money.
2. It helps you diversify your income
The second reason why I sell trading courses is that it helps me diversify my income.
I know that for my trading methodology, I will not make money every week and I might not even make money every month.
But if I have a service to offer trading courses, it helps me diversify my earnings.
So if on certain months I don’t make money, it’s alright because I have trading courses that help me diversify my earnings. My livelihood is not affected.
It also helps me with my trading psychology because even if I don’t make money this month from trading, I can still put food on the table.
In fact, I find it very important for a trader to diversify your earnings and not just rely on the market to put food on your table.
And this is also why hedge funds have management fees where they will take a certain percentage of the portfolio value every year, whether they make money or not.
This is to cover the expenses, pay for the office, rental, their staffs, whatever.
It used to be 2%, but I believe it has come down over the years.
But they have this management fee simply because they know that they need to put food on the table. That management fee helps them cover the expenses.
It’s the same for me. I use trading courses to diversify my income, so I don’t rely just on the markets.
3. Your course becomes more valuable
When I make traders pay for something or invest in something, they actually do the work.
Ask yourself, if there’s a free trading course out there and another that’s paid, what are the odds of you completing the free trading course compared to the paid one?
Most of the time, if I pay for something like a course, I have a 95% chance of finishing the course.
But for those free courses or those courses that I pay for 5 or 10 bucks, there’s a good chance that I don’t even complete the course. Because the fee is so low, the skin in the game is just so little and I don’t take action.
So that’s why traders who actually put money in courses or invest in themselves have a higher chance of completing the course.
They have a higher chance of taking action from what’s being taught in the course, so they don’t waste their money.
So that’s why I charge a premium for my trading courses.
I want traders to invest in themselves, to take action. And when they take action, they get results.
And this brings me to the next point…
4. You get a sense of happiness
When traders take action to get results, I feel happy.
I feel happy knowing that someone out there in the world whom I’ve never met before, who may even be of different skin colour as me, actually found success in the market because of my teachings, my work.
I feel really happy that I make an impact out there – that’s why I know I want to teach.
And that’s why I charge for creating courses.
That’s it. That’s the honest truth.
I hope you get to see trading in a different light now.
In future, if you want to have a service to charge people, don’t be afraid of it because trading is just a means to an end.
It doesn’t mean that you’re a trader so you can only be a trader and it’s a crime to do something other than trading.
With that said, I have come towards the end of this episode and I will talk to you soon.