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----- Original Message -----
From: "Ira Tunik" <irat@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, May 19, 2001 5:33 PM
Subject: Re: [RT] Mentors:What makes a good Mentor
> Why, doesn't the doctor give you back his fee if you don't get well? Does
a
> lawyer give back his fee if he loses the case? Will the cleaner give you
back
> your money if he doesn't get the spot out of your cloths? Have you tried
to get
> your tuition and costs back from a University or any other educational
> institution? Have you ever had an educational institution guaranty that
you
> would be a success if you took law, art, medicine from them? Have any
ever
> guaranteed that you even pass the bar, the medical exams, the Civil or
> Structural engineering license tests? I doubt it very much.
Ira,
I think you have misunderstood the context of my remark.
We were (at least I was) talking about how great a trader a "mentor" could
be if he is trying to make money "teaching" others instead of trading.
A truly accomplished trader, if he is really well-meaning and only motivated
by helping others, would not charge a dime, because he can make all that
tuition money and more with his eyes closed, in the markets.
Otherwise, you are not a noble mentor out to help your fellow less
accomplished traders, you are just a business proprietor in the business of
"teaching", "instructor", or "tutor".
And if you are willing to go through all the headaches, red tape,
hand-holding, administration, marketing, customer service, etc. etc. of that
business for whatever income you are expecting, rather than TRADING for that
income, then that should tell us something about your trading expertise or
abilities.
If I choose to hire your services, ofcourse I would not expect a refund,
just like the examples you have given above.
But to say that the mentor is charging these exorbitant fees NOT for
monetary gain or out of financial motivation, but JUST to HELP the student
to learn better, just for the student's own good and benefit is ridiculous!
>You want to learn
> how to make a living and you want someone to show you how to do it for
nothing.
> That seems to be the case.
You are wrong. I KNOW how to make a living, and I am making a decent living.
I don't want and I don't need anybody to show it to me for free or for a
fee. I have learned (and still learning) all that I needed to learn the last
15 years.
>You can't practice any other profession without a
> license, but you can buy and sell stocks, futures and derivatives if you
can
> put up the cash. So any one with 2 nickels to rub together is an instant
> professional trader, because some firm will open an account for him. If
it
> weren't for all of you out there willing to go it alone it wouldn't be so
easy
> for the rest of us earn a living or just enjoy the fruits of our trading.
Ira
Well, I did go it alone, and still do, I wonder why it is so easy for me
too.
Maybe I am trading against your students?
Regards,
Levent
>
> Levent Erbora wrote:
>
> > ----- Original Message -----
> > From: "STEVE ROBERTS" <steve80866@xxxxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Saturday, May 19, 2001 3:39 PM
> > Subject: Re: [RT] Mentors:What makes a good Mentor
> >
> > > There is one important characteristic about learning for most
learners:
> > We tend to take most seriously that which costs us the most.
> > >
> > > As a psychotherapist I make sure that people pay enough that they take
the
> > therapy seriously. Even in my pro bona work I make sure the people pay
> > something for just this reason.
> > >
> > > I and a few others on this list have gone for training with a retired
> > trader, who charges a significant fee. The fee is significant to us,
but
> > not that significant to him given his resources. This arrangement
ensures
> > that we take the learning very seriously.
> > >
> > > In theory, I think free is best, but most of us won't value it without
> > paying for it...
> > >
> > > Steve
> > >
> >
> > If that were really the case, then I would expect these noble masters to
> > "REFUND" the money back to their "grashoppers" once the grasshoppers
> > "graduated".
> >
> > Regards,
> >
> > Levent
> >
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