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7 Comments

  1. Charlie Burton-Reply
    September 14, 2015 at 11:48 am

    Thanks Chris, trading room regulation still isn’t enough. We need someone here in the UK who ensures the educator actually has a trade record. A trading room record is pretty meaningless as I know plenty of trading educators who have rooms but they still don’t actually trade. We need something here in the UK.

    thanks

    charlie

  2. Mike Parsons-Reply
    September 14, 2015 at 1:30 pm

    Charlie,

    Couldn’t agree more, regulation is needed. It’s not just that it’s not always clear if they are actually trading themselves but sometimes you get a ‘live’ trade posted that works really well, and you wonder how many goes they took to get that trade that worked. You post a live trade week in week in week out and we get the good, bad ugly of those trades – mostly good, which is the only way to do live trading. The next question, therefore, is this: Currently spreadbetting profits are free from tax as long as it’s not your main business – should spreadbetting be taxed to help pay for a regulatory framework?

    Keep up the good work,

    Mike

  3. Vinny Patel-Reply
    September 14, 2015 at 2:12 pm

    Educators should not be regulated because that creates a huge bureaucracy and opens the door wide open for behind the scenes incentives aka pay-offs to receive a rubber-stamp of approval. Rules would also be lenient to those educators who have large “shops” and can afford to influence a board or committee.

    It’s quite simple: You either get feedback from others and/or proceed with a trial or some sort (at times, this may not be enough), however, it’s all about responsibility on the trader’s part. If he/she is learning a new strategy, then obviously testing should be done first to make sure 1)he/she is comfortable with it 2)yields success 3)aligns with his/her trading strategies and initiatives.

    As consumers and as traders, we must take the responsibility upon ourselves and not quick to blame either an experienced or a phony trading educator should we lose money. That is just my take on things

    I love your work Charlie….hopefully soon I can join on board and starting trading currency futures

  4. Andy-Reply
    September 14, 2015 at 2:34 pm

    I can see how it would be hard to regulate, but I definitely agree with your sentiment.

    There are way too many crooks out there. I have begun to think the best way to make
    money from trading is by teaching people to trade!

    I think an accreditation scheme would be good for sure.

  5. Brian-Reply
    September 14, 2015 at 3:39 pm

    Hello Charlie

    I see the problem well enough but you do not want someone like Ofsted coming round — my daughter is a teacher, and believe me, you really do not.!

  6. David White-Reply
    September 16, 2015 at 10:51 am

    Hi there Charlie

    What’s the best way though to demonstrate a track record through a trade record? How far back should the trade record go?

    Regards,
    D White

    • Charlie Burton-Reply
      September 16, 2015 at 3:28 pm

      Hi David,

      I guess a couple of years would be enough. I would simply want a governing body to have to verify an educators accounts to basically say yes this person does have a live trading account and yes they are profitable. That would then be enough to at least weed out the impersonators!

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