Steve,
Yes, reading, talking with others, etc., will make one more successful.
But, if the daytrading software industry wants to sell their products and services to more customers than just the professional traders, they better start thinking about training. The reason why is simple. Cybertrader, MB Trading and all of the other folks are only successful if their clients (traders) are successful.
If a client continues to lose money and be unsuccessful at daytrading, how long till they quit paying $40-50 a trade. Turnover of clients in this business, unlike Datek for example, would not be desirable.
And I'm not talking about training to make me the perfect trader. I'm talking about:
- Training on how to use the software, I'm shocked at the number of questions (by current users) on how to operate certain parts of the software. For example, how could anyone be a successful trader if they don't know how the "smart keys" work?
- Training (for new traders) on the basics of trading.
- Training for advanced traders on the nuances of MM's, how orders flow through the ECN's etc. Again, I would think it would be impossible to even start trading without this basic training.
Training can be a multitude of products ranging from recommended books, stories, handouts, manuals, actual classes and workshops. The companies in this field need to remember, the more money their clients make, the more money they will probably make.
Brent
P.S. I don't care if the company themselves provide it or they partner up with someone else, as long as it is good! |
