Learn to trade courses seem to be popular and have a paying audience in the US and in the UK. I haven’t really seen anything similar in other countries, but that could be just because the banker is not a cunning linguist.
I suggest you read the actual article, but for those of you who want a quick synopsis, the journalist went to three separate courses that promise to teach you to trade in just a matter of days.
The business idea behind these courses seems to be the same: You pay a fee to attend, then they "upsell" you more so that you can become even better. The price for the upsell extra special super dooper turbo seminar is (without fail) substantial, but if you sign up “right now” then the price is a lot less (though still a fair bit).
I’ve always been fascinated by these seminars and particularly why they continue, year after year, to have a paying clientele. Most of the courses are without a doubt a con. The simply reason is that beating the market is extremely difficult. Very few do it. Signing up to a seminar lasting a day or two and as a result beating the market is even harder. I’ve got more chance of getting a date with Mila Kunis. (Mila, if you’re reading this, my email is firstname.lastname@example.org)
So why do people sign up for these learn to trade courses? The easy answer is to say that only idiots do, but that’s also the lazy option, because perfectly intelligent and well-educated people are amongst those who pay up and attend.
The answer is much more complex. I actually have a feeling that these kinds of businesses will continue to flourish because of what they sell, and the thing they sell is a powerful double aphrodisiac. They sell a double, super size with extra double cheese on top, double whammy of a double whatsimie. They sell freedom in stereo and Technicolor and Dolby surround sound.
Firstly the obvious freedom: Financial freedom. The idea is that by sitting at a computer anywhere in the world, just by buying and selling numbers on a screen you can earn a living. That sounds great doesn’t it? Where do I sign?
Wait, because there’s more!
The fact is that even if you do branch out on your own into some kind of entrepreneurial business, you will most likely have clients or you will have investors to answer to and that always involves human interaction and all the stress that that brings with it. With trading, there’s non of that. Which brings us to the second freedom: Freedom from bullshit and drama. No bosses. No underlings. No “bring more money, do more hours!” No “I want more wages, so and so is disrespecting me!”
Just you a laptop and a tall drink with one of those little umbrellas on top by your side. And the only human being bothering you is that Mila Kunis look-a-like in a bikini rubbing sun tan oil on your chest asking if you if you work out. (The female readers can swap the Mila Kunis look-a-like for George Clooney look-a-like giving you a foot massage)
So there you have it: Trading for a living is the ultimate promise of complete and utter financial freedom without the human working environment drama. That double whammy combination will always continue to override any rational thought.
I think I might be in the wrong business. Show me to the nearest seminar.