The Hard Truths of Trading Education

If you follow me on X, you know I’m no fan of the fake gurus and influencers muddying up the trading education world—they absolutely deserve the bashing. So now that we have covered where to trade and what to trade, I wanted to dedicate a whole post to this subject and write about the how: how to avoid these frauds and how to get yourself a quality trading education. Lets dive in..

I’ll start with my usual “trading is brutally tough… only 5% succeed” speech. But that 5% quickly turns to pretty much 0% without proper education. Even for those who are profitable, the learning never stops. Markets evolve, new opportunities arise, and there are always skills to sharpen, strategies to refine, and core principles to reinforce.

Navigating the world of trading education, however, can feel like walking through a minefield—riddled with scammers, fake gurus, overpriced courses, pump-and-dump chatrooms, and social media influencers peddling false dreams. After two decades of scouring this space—or dare I say, this cesspool—I’ve earned my fair share of scars, headaches, and wasted plenty of time. But in the process, I’ve also developed a solid BS filter and a keen sense of what to watch out for.

Now, I want to share my take on trading education and help you cut through the noise. At the end of this post, I’ve also included links to some of my favorite educators and educational resources. If you have any favorites of your own, feel free to share them in the comment section.

Elite Traders vs Fake Gurus

I’ve had the privilege of trading alongside dozens—if not hundreds—of what I’d call true “elite traders,” and they all share one thing in common: they are ALL practically nonexistent on social media. NONE of them are busy selling courses, running chatrooms, or flashing PNL screenshots on Twitter. That’s what makes it even more mind-blowing when I scroll through social media and see so many so-called “8-figure traders” spending a huge amount of time posting their gaudy PNLs and hawking paid courses and chatrooms, all while claiming to share their "edge."

Since time is one of the most valuable resources—and most trading edges aren’t scalable—it feels more absurd than imagining Tiger Woods dedicating his prime years to running coaching clinics.

The elite traders I know dedicate their time to making money through trading, refining their skills, and spending quality time with their families while enjoying the rewards of their success. But enjoying success doesn’t mean flashing a Lambo—that’s another thing they all have in common. Unlike your favorite social media guru, they typically keep it grounded.

It’s not that these top traders aren’t coaching or helping others—they just usually prefer to do it within the confines of their own firms or offices, offering guidance to traders they know personally. For those lucky enough to be part of that circle, they’re likely receiving an education second to none. Unfortunately, for those without access to these firms or networks, finding quality trading education can be a daunting task. It often means navigating the murky waters of online education, rife with flashy PNL posts and promises from “8-figure” traders. It’s a space dominated by marketing hype, making it all too easy for hopeful traders to fall prey to the sharks.

What Real Education Looks Like

That’s exactly why I wrote my book and launched this Substack. What I saw in the trading education space rarely aligned with my real-world experience. We’re constantly sold the idea that making big money is as simple as taking a course, learning a specific chart pattern or following your favorite trading influencer into their trades in some “premium, members-only chatroom”.

The hard truths were being sugarcoated—after all, no one selling a dream would openly admit that the odds of success are slim to none. But beyond that, the real edge—the one driving the bulk of profits for me and the traders I worked with—wasn’t in blindly following a candlestick pattern or the speculation gurus push. It came from inefficiencies, arbitrage, and other under-the-radar mechanical strategies that are rarely, if ever, discussed.

But judging by my book sales, it seems people would rather chase get-rich-quick nonsense and double doji chart patterns than face the harsh reality of hard-hitting trading truths. Apparently, “your guide to glitch trading” just doesn't have the same marketing appeal as “Buy my course, retire next Tuesday.”

It’s tempting to believe some flashy guru will hand you a magical trade, but that’s a lazy and misguided approach. Sure, you might get lucky and stumble upon a great trade, but even then, without the right skills, you’ll likely mess it up with poor execution. I saw this firsthand during my prop trading days—sitting next to an elite trader and mimicking their moves didn’t work unless you actually understood what they were doing and, more importantly, what you were doing.

Forget chasing easy money or hoping for some mythical "golden trade"—the real game is about finding, understanding and mastering solid methods, skills, strategies, and frameworks. If you're handing me a trade, I don’t just want the ticker symbol—I want the reasoning, the logic, and ultimately, why there’s an edge in this trade. Don’t just push me into a trade; guide me toward understanding the trade. Teach me to see the market differently, recognize where the edge is, and capitalize on it when I find it.

Give a man a trade.. you might feed him for a day. Teach a man to trade, and you can feed him for a lifetime

Fortunately, quality trading education does exist—and in many cases, it’s free. Let’s break down where to find the best resources and, more importantly, how to cut through the noise to uncover real, actionable education.

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Mentor/Coach

The best way to gain a solid trading education is by finding an experienced, proven mentor or coach. Hands-on personalized teaching from a skilled mentor far surpasses any course, chatroom, or book you’ll come across. As I’ve mentioned before, landing a job at a reputable prop firm is the most effective way to meet such a mentor. That said, a role at a top firm doesn’t automatically guarantee access to great mentorship—remember my story about my coach who turned off his monitors every time he left his desk?

If you’re not affiliated with a firm, you might still be fortunate enough to know an experienced trader willing to guide you. For those without those connections, the next best option is to hustle and network your way toward a skilled coach. That said, it’s important to manage your expectations. Despite what social media might lead you to believe, high-earning traders often have little motivation to invest their time and energy mentoring someone outside their inner circle, even with financial incentives. However, there are still traders out there who are passionate about teaching and are genuinely willing to help.

For those trying to find a mentor on their own, I could list a long checklist of what to look for, but the truth is that finding a decent mentor or coach is extremely hard, so you can’t afford to be overly picky. If you find someone with experience who’s willing to help—whether for free or for a small fee—take the opportunity. You can always walk away if it’s not working out.

That said, finding someone with a track record of consistent profitability is essential. However, being a great trader doesn’t automatically translate into being a great mentor. The ability to trade successfully and the ability to teach effectively don’t always go hand in hand. Still, if a trader hasn’t mastered their own craft—no small feat—why would you trust them to teach you?

And of course, many so-called paid mentors rely on flashy, inflated, or outright doctored PnL reports to lure in students. Instead of focusing on how much they claim to have made, pay attention to how long they’ve actually been trading. In reality, a lot of them are failed traders who pivoted to selling advice instead. It makes sense—so be cautious.

I could keep listing more obvious criteria—like ensuring they have a proven coaching track record, that you connect well with them, or that their trading style aligns with yours—but you get the idea. The reality is that if you’re searching for a free mentor or working with a tight budget, you probably won’t have the luxury of being too selective.

Investing in education can be one of the smartest moves you make—if you do it wisely. But pouring big money into an overpriced, influencer-style “mentoring program” is usually not the best investment. My advice? Let mentorship happen more organically. Build relationships, engage with experienced traders, and learn through real interactions.

Finding that Mentor

Network! Get out there! The best way to find a mentor is to meet traders—ideally in person, but online works too. Go to conferences, attend meetups, and talk to as many traders as you can. Doing this will work wonders for your trading, regardless of whether you’re actively looking for a mentor. Yes, meeting in person is ideal, but it’s definitely doable online. Instead of mass messaging every trader with over 10k followers on X, try reaching out to traders you genuinely connect with and aim for a more personal contact.

Be assertive, but not pushy. It’s like dating—show interest, but also give them a reason to "be" with you. Sure, a fee can sometimes motivate (I’m talking about a mentor, not a date), but don’t drop a fortune—that’s a red flag (for both mentor and dates). Cash isn’t always the motivation, so show them why they should invest their time in you. What do you bring to the table? Don’t be that date with a nice smile but a god-awful personality.

Maybe you have skills that are valuable such as programming, maybe you are working on a strategy that has promise and could be shared. But most importantly show that you are willing to bust your ass to do what it takes to succeed. I know I can smell a get-rich-quick type from a mile away, don’t be that guy. There are plenty of experienced traders who have a good heart and love trading and are willing to help, but they won’t waste time on someone who doesn’t share that passion and isn’t willing to work hard.

Don’t be the person who expects to strike gold immediately. Finding a mentor is tough, so manage your expectations. Maybe you won’t find a formal mentorship relationship, but even a loose connection can be invaluable. Just getting an experienced trader to answer a question or point you in the right direction could end up being priceless.

Books

Call me biased, but I’d argue that the average author puts more time, effort, and expertise into a $10 book than most 'gurus' do in a $1,000 trading course. That’s not to say most trading books are amazing—far from it. This is more a commentary on the quality of those expensive courses. I’ve read countless trading books, and while many fall short, there are definitely some gems.

The problem? Most trading books either serve as glorified marketing funnels or just recycle the same tired clichés: have a plan, cut your losses, and so on—only to bombard you with charts that promise riches if you just master this one "easy" candlestick pattern.

That said, even if the book isn't groundbreaking, it can still be worth your small investment of time and money if you walk away with just one or two solid ideas—or if it serves to reinforce those familiar clichés we all know... but still struggle to follow. Better that than dropping hundreds on a shitty course.

When it comes to trading psychology, though, some books really get it right. It’s a complex subject best tackled by experts, and some great writers are contributing to this space.

I’ll also throw Substack and blogging into this mix. These platforms generally have a higher barrier to entry. They require more substantial content, which often deters influencers. As a result, these platforms are usually populated by more serious thinkers, whose focus isn’t on promoting their paid chatrooms or the like. Personally, I’ve come across some excellent traders, writers, and content on these platforms.

Courses

I have a similar take on trading courses: while there may be a few worth your time and money—especially if they're from a trader you respect or focus on a niche aspect of trading—most just recycle the same basic concepts and technical analysis.

There's no harm in taking a free course, even if it only covers fundamental trading principles. But when it comes to paid courses, they rarely justify the investment. I’m amazed at the bravado of some traders who think a couple of years of experience—or influencer status—qualifies them to sell a course. I haven’t taken a paid one myself, but from what many others have shared, they rarely justify the cost.

Don’t expect to be handed a magic formula for making money. And don’t fall for the trap of thinking that flashier marketing, a higher price tag, or a guru with a massive following means a better course.

Chatrooms

For most traders—especially those trading from home—a chatroom is almost essential. A good chatroom provides education, motivation, a sense of connection, and even a touch of healthy competition. I’ll break them down into three categories: paid chatrooms run by self-proclaimed “gurus,” Reddit-type forums, and organic, free communities formed by traders and friends.

Let’s start with the paid ones. And here’s my usual disclaimer: I know there are some good ones out there... but...

As I mentioned earlier, the elite traders I know are too busy making money to waste time giving away secrets or diluting their edge for a small subscription fee. In fact, I’ve even seen traders get into fights over suspicions that someone was stealing their trades.

So the cynic in me sees two possible explanations for the explosion of these paid chatrooms. First, surprise, surprise—your so-called guru might not actually be an elite trader. That doesn’t necessarily mean the chatroom is useless—members might still find value in the discussions, support, and sense of community. But for a paid service to truly be worthwhile, you need experienced traders leading the way. Otherwise, if you’re just looking to talk trading with people who don’t know what they’re talking about, you can do that for free on X.

The second, more sinister possibility? The chatroom is nothing more than a pump-and-dump scheme. In this scenario, the guru hypes up stocks or assets they already own, using their followers as exit liquidity to cash out at inflated prices. Unfortunately, this tactic has become increasingly common. While the most brazen—like the Zach Morris crew—sometimes get caught, many similar operations continue to fly under the radar. You’d be surprised by how many of your favorite gurus are involved. It’s always wise to perform thorough background checks before jumping into anything.

I know savvy traders who are well aware of these schemes. They deliberately subscribe to these chatrooms—not to follow the trades, but to reverse-engineer them. Instead of buying in, they use the guru’s callouts as a signal that the “smart money” (or “dirty money”) is likely about to exit, and they trade accordingly.

These chatrooms can be useful for tracking sentiment and finding what's in play. Platforms like Reddit serve this function as well. In fact, one of my best trades came from lurking in the infamous WallStreetBets group.

Back in 2021, during the height of the meme stock mania, I initially thought I was too experienced to be scouring Reddit for stock tips. But after watching the chaos unfold, I swallowed my pride and joined in. While I wasn’t lucky enough to catch the full GameStop rally, I did capitalize on a similar pump.

At the time, WallStreetBets was emboldened by its recent successes and had set its sights on an even bigger target: silver. The group was convinced they could corner the market and trigger a massive spike in the precious metal’s price.

I saw an opportunity and devised a plan.

I knew that if silver prices surged, then silver mining stocks would rise as well. My plan was simple: I’d get ahead of the crowd. When the pre-market session opened at 4 a.m. New York time—while the majority of WallStreetBets traders were still asleep—I loaded up on my favorite silver mining stocks.

It worked like a charm.

As the U.S. traders woke up and rushed to buy silver-related stocks, my positions steadily climbed. I held them for a few hours, then sold to the latecomers who were just joining the party. It turned out to be my best trade ever.

That being said, I always recommend caution—don’t just chase after the latest meme stock; have a solid plan, like I did. But I will say, if you have the right plan in place, the best opponents to trade against are typically inexperienced traders who spend their hours in chatrooms and forums filled with others just like them.

I also recommend trying to find an organic group made up of fellow traders you know or have some type of connection with. Of course, the quality of the traders matters, as well as the discourse, but in these groups, there tends to be a greater level of trust, cooperation, and transparency, as well as a better chance of finding skilled traders to engage with.

On the other hand, private or paid groups often attract traders who haven’t yet put in the effort to build meaningful connections. The best communities aren’t the ones you pay to join—they’re the ones you earn by networking, learning, and proving yourself over time. Finding the right group is a lot like finding a mentor: it’s about putting yourself out there and forming real relationships.

Social Media

I know there’s some good content out there... but…

While it’s possible to find valuable insights on social media, doing so requires a well-developed bullshit filter. It’s important to recognize that social media should only be a supplement to more structured forms of education—don’t rely on it as your primary source of learning.

Like many traders, I find myself spending far too much time on these addictive platforms (mainly X). I often justify it by telling myself I’m looking for trading education—something that’s certainly available. But it’s tough to sift through the noise when you're constantly bombarded with awful takes, inflated PNL pissing contests, self-proclaimed trading geniuses, overreliance on technical analysis, and questionable humor. The platform tends to attract some of the worst types of traders—and people in general. This makes engagement difficult, and even with a healthy dose of skepticism, these PNL brags can still leave you feeling inadequate rather than inspired about your own trading. It’s less education and more dopamine trap.

That said, when used with intention and discernment, social media can be a powerful tool. The screaming crowds on X and YouTube—(and if you’re relying on Instagram or Facebook for trading insights, you might already be in trouble)—can help point you toward volatility and opportunity. These platforms can inspire, foster community and provide real edge if you know where to look.

YouTube is particularly valuable for its insightful interviews with seasoned traders willing to share their experiences and insights. There are also solid tutorials—if you’re willing to dig through the junk. And yes, there are great traders on X– but they aren’t the ones flashing their PNLs or calling the tops of parabolic stocks. The traders I get my education from are focused on the act of trading itself, uncovering real, quantifiable mechanical edges—not devoted purely to T.A or speculation. When they share trades, it’s not just about entry signals—it’s about the why, breaking down the thought process, the method, and leaving the real work to you. That’s the kind of content that actually helps traders grow.

I’m not saying the trades or strategies shared on social media can’t be actionable—just don’t count on it. That said, sometimes you do strike gold. A few years ago, I stumbled across an incredible crypto arbitrage strategy on YouTube. But here’s the thing: I knew exactly what to look for—a quantifiable arbitrage strategy—and I had years of experience filtering out the garbage that floods these platforms. And, of course, the guy who shared it wasn’t some polished guru with a million followers. His video looked like it was shot in his basement, and he had maybe a few hundred subscribers. But unlike the usual crowd selling dreams, he actually dropped a real gem.

Bottom Line

Navigating the world of trading education can be incredibly challenging. The harsh truth is that most traders looking for guidance don’t really want to learn or the hard truths—they want shortcuts, easy wins, and a fast track to riches. That’s exactly what scammers and fake gurus prey on, and why the trading education space is filled with overpriced courses, pump-and-dump chatrooms, and social media influencers selling dreams. But real education isn’t about being spoon-fed trade ideas or copying someone else’s moves—it’s about developing your own understanding, sharpening your skills, and building an edge that’s actually sustainable.

At the end of the day, there are no secrets, no magic formulas, and no shortcuts to success in trading. If you want to succeed, you have to put in the work—analyzing markets, refining your strategy, and learning from both wins and losses. The sooner you stop looking for an easy way and start focusing on real education, the sooner you’ll actually start making progress.

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Links

Favorite Books:

Reminiscences of a Stock Operator: Edward Leferve

Flash Crash: Liam Vaughn

The Playbook & One Good Trade: Mike Bellafoire

​Alpha Trader: Brent Donnelly

The Laws of Trading: Agustin Lebron

Dark Pools: Scott Patterson

Market Wizards series: Jack Schwager

Best Loser Wins: Tom Hougaard

Trading Psychology Books:

Mastering the Mental Game of Trading: Steve Goldstein

Trading in the Zone: Mark Douglas

All of Yvan Byeajee books

Courses:

https://robotwealth.com/tlaq-qlat-aqtt-landing-page/

Favorite X follows:

https://x.com/therobotjames

https://x.com/skyquake_1

https://x.com/Trader_Dante

https://x.com/ScottPh77711570

https://x.com/DayTraderPL

https://x.com/MoistMango12

https://x.com/TheOneLanceB

https://x.com/worstcontrarian

https://x.com/zerototom

https://x.com/KrisAbdelmessih

https://x.com/Stoiiic

https://x.com/TheFlowHorse

Favorite Interviews/Videos: