This is so true...I even pointed this out awhile ago in another thread.. I hope Nodoji and dbphoenix will read this and understand it fully.. I think both of them have good intentions, and I don't have beef with them.. so I wont talk bad about them...
But sharing a strategy or sprinkling ideas around a forum is not going to make someone profitable.. The market is too complex for this.. So please Nodoji and dbphoenix, don't get mad when your students don't succeed with your strategies or ideas.
Like I said before, its OK to share strategies, trading tips, advice or any type of trading ideas to help
those that seek help.
The problem is many of
those traders reading the information will assume in error that's the
only thing they need or its most of what they need to become profitable. Think about this carefully, the markets expect most of us to fail and it knows only a few of us will succeed while some of us weren't even suitable for trading before the very first trade.
My big thing is the
psychological aspect of trading...that's a big part of my trading and ET is my favorite forum for discussing such. I've had many in-depth conversations with others here at ET across various threads that share the same sentiment about its importance. Now, if I were to start a thread here in the psychological thread and traders read about how I mentally prepare to trade and then they try to do the same...
If most of them continue to
fail (e.g. they still continue getting stressed, the neck pain won't go away, they still have sleepless nights after a hard day of trading) while a few see improvement (e.g. less moody, blood pressure doesn't spike while trading)...the failure or success is ultimately on their own shoulders...not mine.
Something else I recently saw in this thread about a
"trading plan". There are dozens and dozens of chapters in the book of "profitable trading". Trade strategies is just one chapter, psychology is just one chapter, lifestyle is just one chapter, proper trading environment is just one chapter, proper trading instrument is just one chapter, position size management is one chapter, luck is one chapter and on and on and on. Then on any given trading day, a few chapters will determine your profit/loss level for the day while the other chapters only played a minority role in the success or failure.
A trading plan that only has a trade strategy is an inadequate trading plan.
My point is that the odds are stacked high against most of us
retail traders right out of the gate. It gets worst when most of us only concentrate on one or two chapters as if they can compensate for the flaws or failures in the other chapters and that's why the markets love us retail traders.
The markets know that most are
not properly prepared to trade because most have an inadequate
trading plan and if one thinks a trading plan
only involves trade signal strategies...the markets will knock on your door most trading days to say thank you in a very rude way.
Getting back to ET...some folks like to share here. They start threads about a wide variety of topics. I'll be naive to think its the only thing they need or use in their trading. Yet, if they say to me its the
only thing they use or tell me its the only thing I need...the conversation ends there and I won't waste my time & energy bashing, personal attacks because there's money to be made and family to socialize with instead of being consumed with all that negativity.
Last of all, hindsight charts have
great limitations. Yet, its still a useful (needed) educational tool but its
not mentoring and they don't teach someone how to trade. Naive traders that assume that they are learning to trade via reading hindsight charts, hindsight videos...that's their error and their fault...not the fault of the trader that posted the charts or videos. Elitetrader.com is specifically setup to
share...
not to mentor. Anybody trying to use this forum for something that its not...they deserve to get those consistent knocks on their door by the market that came to say rudely...thank you.
P.S. This is my last post here in this thread, I'm back at reading the psychology threads.
