Do you feel obligated to sharing your proprietary research or advice with strangers? Free Advice?

birzos said:
Having helped people including family in the past with both time and money, it came to be my turn. A family member threatened to break my jaw because I asked for my money back; an ex-girlfriend who had a tough life so I put her up in a 1bed apartment for 6mths to get her life back on track, she contacted me for no real reason and I said how about helping me, told me to get lost. I worked with someone permanent on $80k/yr who became a friend and I taught her how to go contracting in finance so she at least doubled her income in a few months due to my mentoring, I later asked her to get me on one of her projects and she sent me the phone number of a random agent.

Those are a few, in most cases you get the grand total of squat. I had one very serious event due to the stupidity of family, all it took was one act of kindness by someone to help, nothing and in some cases they made it worse. Here's the thing, all those events help push you in to the top tiers of knowledge but you find out one key fact along the way. Money isn't everything, but people put an importance on it because you can hide things with money, you can't hide them with time. You can't help anyone until you help yourself.

There are only two ways it works, people either blindly follow your advice or they at best take a tiny part of it and try and introduce it in to their approach. Sometimes in life you have to do 'the right thing', but that is experience, there are no rule books, all you can do is try your best and try not to get taken out in the process, which sometimes means walking away! Human nature is to pass problems to the next person as it's easier than passing them back to the originator, unfortunately I was always at the end of the line so had to absorb them all, the most complex option that nobody does, everyone was shocked when I decided not to do it anymore so I was 'insensitive' 'no morals' ...

Don't ever underestimate the ability of people to take you out by trying to help them, arms length seems to be the best way to approach it as usually the reason they are in the mess was either by lying to other people or lying to themselves! Is it worth helping people, yes, but you have to do it as a gift and know you are writing off time/money or both. Always assume you will get nothing in return and no-one will listen or care, sometimes you will be pleasantly surprised, I haven't been yet and doubt I will be but there's always a first for everything!

Here's an example, use a trading methodology from a hedge fund where one of them put out a research note in July 2013 detailing GBPUSD going to parity, El-Erian put out the same research note in July 2016, were they invited on to the Bloomberg or CNBC as they made the call 3years earlier, or that they were the only ones who made the brexit call, or advised an oil giant board their business processes were flawed and went on to lose $100bn capital, not a chance! But made +19% in July with one advisory trade on the methodology!

So what's the trick then, simple, you cannot pretend to have money when you are poor, but you can pretend to be poor when you have money, if you help someone, always do it via an independent third party, if it starts to go wrong you can pause or worst case walk away! Gaining experience costs a lot of time and money so you should be paid for it, but there will always be an exception and you need to decide when just because it's the 'right thing to do'!
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It's hard to define each time differently!


https://elitetrader.com/et/threads/quote-s-of-the-day.301840/#post-4315697
OddTrader said:
If you really love a person, tell him to work on Wall Street!

If you really hate a person, tell him to work on Wall Street!

PS: No typo!
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tickmagnet said:
Unless you have an inside info , what else is out there useful , we all know that trading is about discipline , I don't think that there is magic formula, See , I love playing tennis , and I keep losing to my friend , and I'm a better player , but I get emotional and make lot of mistakes. In trading the same thing, if you can't control your
emotions you lose.
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i wouldn't play him for money he all ready tricked you into making you think your better lol. If you are really better ( and i imagine you are i am just busting your chops) make a sport of it and keep trying to hit him with the ball. Its a game with in the game. Believe it or not you will be ore focused on hitting him in the head than winning. Chances are you will win.
 
no no no no
I have gone through a lot of shit to get to where i am now.for 5 years of blood sweat and tears to be a profitable trader.i have blown 5 accounts.during those 5 years i was treated like a leper by my friends and by people who knew me.i had no one to discuss my journey with,no one to give me support and help.basically i was written off by everyone, but i believed in myself.i helped a lot of people while i was working but during the last 5 years no one offered me a glass of water.
BUT
now i am in sync with the market i trade in, and money is being made consistently and i have my bounce back.
the only people i am willing to teach will be my family members because they suffered as well,
everyone else will be punched in the face.

ps i do believe in giving money to charities,so the more money i make the more they will receive.

thank you
i feel better now
 
TKOSTA74 said:
no no no no
I have gone through a lot of shit to get to where i am now.for 5 years of blood sweat and tears to be a profitable trader.i have blown 5 accounts.during those 5 years i was treated like a leper by my friends and by people who knew me.i had no one to discuss my journey with,no one to give me support and help.basically i was written off by everyone, but i believed in myself.i helped a lot of people while i was working but during the last 5 years no one offered me a glass of water.
BUT
now i am in sync with the market i trade in, and money is being made consistently and i have my bounce back.
the only people i am willing to teach will be my family members because they suffered as well,
everyone else will be punched in the face.

ps i do believe in giving money to charities,so the more money i make the more they will receive.

thank you
i feel better now
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Money and how they live their lives are touchy subjects for most people. For trading, it just can't be.
 
I have helped people before, some for free and some for a fee. I actually prefer to help for free because it's then on my terms only and up to my mood.

Depending on how I'm approached I will usually offer some brief initial advice and direction. Most people won't follow it anyway which is just the nature of things. Out of those that do start to follow things like reading list advice, daily approach to the market etc. if I see they put some effort, are intelligent, polite, respect my time and need a bit of help on the next step I will often be happy to continue offering some advice.

One reason I do that is because I still remember when I was a newbie, and someone did put some effort to help me so it's kind of paying it forward. The other reason is trading is a lonely profession, I enjoy interacting and talking shop with intelligent people even if we don't have the same level of skills. Lastly, I may even learn something from it myself or develop some friendship. Not a bad return on writing a few lines of advice to help out someone in my eyes, to each his own.
 
Ajax2004 said:
I have helped people before, some for free and some for a fee. I actually prefer to help for free because it's then on my terms only and up to my mood.

Depending on how I'm approached I will usually offer some brief initial advice and direction. Most people won't follow it anyway which is just the nature of things. Out of those that do start to follow things like reading list advice, daily approach to the market etc. if I see they put some effort, are intelligent, polite, respect my time and need a bit of help on the next step I will often be happy to continue offering some advice.

One reason I do that is because I still remember when I was a newbie, and someone did put some effort to help me so it's kind of paying it forward. The other reason is trading is a lonely profession, I enjoy interacting and talking shop with intelligent people even if we don't have the same level of skills. Lastly, I may even learn something from it myself or develop some friendship. Not a bad return on writing a few lines of advice to help out someone in my eyes, to each his own.
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i completely agree, i have given more chess lessons than i an remember for free. I don't like a obligation where the pay out is not worth my time. I have helped countless people fix stuff for free. Putting engines in cars, brakes, a arms, roofs, remodel bathrooms, to pulling over and helping strangers fix there cars. I am not a mechanic but its fairly simple stuff, i was a roofer. But the point is i help when i feel like it not some one else beckoning. If you ever want something in return then you are bartering not helping for free. Should they you help you damn right. Will they its up to them. On a funny occasion i was in a barter with a guy work for work. And i got screwed i knew i would get screwed, i set him up to never have to deal with him again. He avoided me weeks, till i tracked down where he was going to be. When he knocked on the door he eyes opened up pretty wide when i was standing there. I backed that dick up 100ft from the door with my posturing. I kept a aggressive posture and was rambling about how we don't need to be friends. It was pretty damn funny. I was owed that work but normally i do stuff for free. And when i feel like they burn me i chalk it up to the human condition. You know like a chick that is a gold digger. There is really only one good use for them. Then you have to tell em to make a sandwich. lol
 
bln said:
Not much to teach as I trade in a systematical and quantitative maner.
I don't think, my algorithm thinks for me.

Give advice privately in person to friends as I'm successful and it is nice to help people if they are worthy of help.
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Huh, you're quite confident. Well, I guess you can say that there's not much to teach you, but a smart person should always be opened to everything new and possibly useful, isn't it?
 
Zestilio said:
Huh, you're quite confident. Well, I guess you can say that there's not much to teach you, but a smart person should always be opened to everything new and possibly useful, isn't it?
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Always open to new useful knowledge. What I ment to say was, not much I can teach others as most generic and basic stuff is available in books.
 
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