Book: Kane Trading on: Advanced Fibonacci Trading Concepts
Welcome to the new Webinars page
I decided to create this page to determine if there is enough potential interest in my doing some webinars. I also want to discuss some of my thoughts on the topic so those that may have an interest in this can 'see where Jim is coming from'. I've said many times that I didn't want to do remote mentorships, and I've really avoided using the technology that many others have been using, preferring instead to just work with a small handful in a one-on-one environment. I've really stayed as far away as I could from 'commercializing' my methodology and my training. That being said, a few issues have come to light.
The first thing that I've really noticed is that one-on-one is very limiting in terms of the amount of time I can devote to this. Trading is and will continue to be my primary focus. If I plan to have any time left to enjoy my family and my life, I can only spend a small amount of time mentoring. Given the high intensity of the mentoring I do, the time consuming nature of hard-core study, and just the nature of the learning curve for a methodology like this, I find that I have far more potential students than I have time to work with all of them. This is an endless frustration for me.
I prefer the one-on-one approach because I can tailor it to each individual student, and really attempt to optimize the process. The downside is that I can only work with a few people during any given time period. So far this has worked well because I show a lot of 'proprietary' material to my mentor students, and I really want to limit how many people I reveal this information to. I want to make sure they have a vested interest in keeping it to themselves (above and beyond the requirements from the non-disclosure agreements they must sign).
I also started to notice something as I observed the many people in the KT private forum. This is the free forum for full book set buyers and mentor students, where they can interact with each other, and post unrestricted (since I ask all book set buyers not to reveal the more proprietary material in the books). I noticed a big gap in the understanding level between students who have worked with me one-on-one and those that simply bought the books. This is to be expected. But I also realized that these people were not in a position, for whatever reasons, to do one-on-one work with me, and even if they were, I can't take on any more students than I already have now.
I feel I could help them understand the methodology a lot better with some quality work time, with me showing the various aspects of the methodology. I could also show many of the revisions, additions, and what I feel are improvements, that I have developed since the last book was written (about four years ago at the time of this writing, which is September 2009). It's not something I can just show in a forum with a few posts, though. If it were, what would be the point of someone working one-on-one with me for sometimes years?
So, I started wondering if there was any 'compromise' solution to this that wouldn't take up a lot of my time, but may still be beneficial. Not everyone wants or needs to attempt to bring their skills up to the level of a student who has done three over four mentorships with me. That doesn't preclude their desire to better understand what is in the books, though, and to do it in a more expeditious manner. There is a lot to be said for cutting back on that learning curve a bit.
Could I find a way to show people some of the type of work I do and the explanations, demonstrated 'live' (live as in I am actually doing the work as it is presented, not prerecorded or pre-done, not 'live' as in it being done during market hours), and perhaps being able to answer questions? A format where people could hear me talking and explaining the various processes, and the thinking behind it.
I realized that a day didn't go by when I didn't hear about one or another webinar, and I got to thinking I might be able to do just what I was wanting to do in that venue. I have to admit, I know very little about doing webinars at this point. I won't even do any more work on this, outside of the preliminary work I have just done recently, unless I get enough feedback to imply it is worth doing. If the lack of participation in the forum is any indication, this one is going to die right here on the vine.
I'm going to give the benefit of the doubt here, though, because I suspect it may be one thing not feeling comfortable, as a relative beginner to the KT methodology, posting in a forum with some very serious students in there (not to mention me watching over it all), and another thing entirely to be willing to watch a webinar that explains some of the intricate details of applying what is in the books. There just may be enough interest in this.
Now, let me mention a few thoughts here. I have purposefully maintained my approach to not 'commercializing' the KT website and the sale of the books (still no ads on the website, I've never paid for advertising anywhere, and so on). I want to keep it to a select core group of very serious traders who really like this approach to trading, and who will develop a vested interest in studying the material and keeping it to themselves, for their own use. That has not changed.
I have zero interest in doing free webinars to promote the KT methodology (I was recently approached by a fairly large brokerage firm who offered to set me up for webinars and promote them, all in exchange for them being able to bring free content to their potential customers, but you know how I feel about that kind of mass promotion...). I don't want to dilute down the methodology for mass consumption. I am sticking to my approach that trading is a very difficult business, like many other professions, and it takes a lot of time and hard work, as well as a comprehensive methodology and 'Trading Plan'. I am trying to provide some of that foundation. I will not 'dumb it down' so I can get more buyers.
So, what am I saying, then? If you have already bought a book set, I am thinking about setting up some webinars that you can attend for a reasonable fee. The goal will be to present the material in much the same manner as I would when doing one-on-one mentoring. I will explain my processes, and demonstrate how I do the work. This will be an interim step or approach between the books and a full mentorship. Understand, though, that a full mentorship is about fifty hours of one-on-one, and a webinar would likely be two hours. You'd have to attend twenty-five of those to get the same level of hours, and that leaves out the face-to-face and the individual approach.
So, look at this in the proper 'context', as something you can do after the books if you want to try to get a deeper understanding of the material and how I do the work. It's a possible offering I can do that may fit well for my international students (let me know what times could work for you) and those that can't travel or can't do a full mentorship. The upside is that I can attempt to help as many people as want help, since it doesn't really matter how many attend.
I am trying to come up with a rough guideline of how I would structure this, and as of yet I am still tinkering around with that. I recently saw another educator launch his line of webinars. One approach might be a series of say eight or ten webinars, each two hours long, for one package price. The downside here is the larger up-front costs and time commitment may 'scare' some people away. Another approach might be just individual two-hour webinars, and you can sign up for whatever ones you want. The main issue there is that as I progress in what I show, if you miss any of those presentations, then you will not have the foundation to understand what I am currently showing.
This also gets into issues like recording the webinars and making those available for those that couldn't attend but want to be ready for the next one in the series. Honestly, at this point I have no idea how I will address all this. I don't want to get involved in a huge project here. The idea is to try to help more people, and actually spend less time doing it than I do now. I could probably do one less mentor student and do the entire webinar project with that time (unless I'm totally clueless as to the behind the scenes work involved in this...).
So, if you've bought the book set and think this sounds like something you'd be interested in, please send me an email and voice your opinion. I'll add you to the list, and send you updates as I refine this project and do further study on it. If you have any suggestions please feel free to include them. Since I have no idea what kind of response I may get, please don't feel bad if I don't individually answer everyone. You can be sure I'll read all the emails, and take into consideration all the suggestions I get. Maybe this is going to be a really great addition to the KT offerings, and maybe it won't even turn out to be worth pursuing. If what I am seeing in the forum is any indication, though, I think there would be a lot of demand and use for this. Let's see. Stay tuned.
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