The same to people with 1 post who tell the regular forum members how they should do things...
Paying $10,000 for a daytrade system...
- Thread starter mcast12
- Start date
The same to people with 1 post who tell the regular forum members how they should do things...
I agree...even if you stole the successful trader's chart settings exactly as is -- it would still be very very difficult to figure out his trading system -- even if you had his entries and exits -- it would still be extremely hard to reverse-engineer
I tried at one of my old prop firms -- I stole this guy's chart settings then asked the risk manager to let me know what his trade time stamps were and tried to figure it out for 2 months BUT nothing......!
Very difficult to learn that way unless he actually teaches you himself!!
That is the beauty of trading! Even if someone steals your system, they cannot steal your reasoning which only he has access to
Maybe Mark and others will agree with me when I say this.
I've been here a long time, its been a struggle to say the least, but now that I'm doing much better, I'd have to say that, the most profitable systems are probably the most simple. And if thats the case, I would not hand over 10k to learn such simple, and in many cases, widely know strategies that have worked for many many years... (fibs, trend lines, etc..) Look up "the Turtle traders" these guys made multi-millions off trading MA cross overs, and holding for 10 some years. Not rocket science.
If you hear a trader say he's a "price action only trader"...listen to him/her because he's been around the block enough times to know thats its the simple things that work, and not what kind, or how many indicators you look at and so on.
P.S Mark, are you still trading hammers? if so, how's that been going?
CM69
I've been here a long time, its been a struggle to say the least, but now that I'm doing much better, I'd have to say that, the most profitable systems are probably the most simple. And if thats the case, I would not hand over 10k to learn such simple, and in many cases, widely know strategies that have worked for many many years... (fibs, trend lines, etc..) Look up "the Turtle traders" these guys made multi-millions off trading MA cross overs, and holding for 10 some years. Not rocket science.
If you hear a trader say he's a "price action only trader"...listen to him/her because he's been around the block enough times to know thats its the simple things that work, and not what kind, or how many indicators you look at and so on.
P.S Mark, are you still trading hammers? if so, how's that been going?
CM69
A profitable chart set up for one may be of no value to another if you cannot execute it properly. What appears to be a good entry on the chart may not be on the price action (time and sales). It all comes down to execution and several variables to process. Will those trembling fingers be able to click that mouse when the time is right or will those previous losses weight too heavily on your mind. It is a great game. Focus on conquering yourself.
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