Successful traders keep silent

Quote from Brandonf:

I cant remember who it was in Market Wizards that said he could publish his entire method on the front page of the NY Times and Wall Street Journal and it would not effect the profitability of it because people would not have the discipline to follow it. So true.
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I agree, and I vaguely remember reading that interview as well. However, as I recall, he didn't disclose, let alone publish, his method either in its entirety or in part. So the point is somewhat moot insofar as that interviewee is concerned.
 
Quote from Thunderdog:

I agree, and I vaguely remember reading that interview as well. However, as I recall, he didn't disclose, let alone publish, his method either in its entirety or in part. So the point is somewhat moot insofar as that interviewee is concerned.
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Probably, but I have given my entire method of trading to a number of people and it has not effected it, so, I dont know if it could handle the millions who read the Times or Joural, but I know a lot of people can try to use the same method/system and most will not be able to do it.
 
Quote from Brandonf:

Probably, but I have given my entire method of trading to a number of people and it has not effected it, so, I dont know if it could handle the millions who read the Times or Joural, but I know a lot of people can try to use the same method/system and most will not be able to do it.
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Some strategies when shared, multiply in efficacy ( example, fading volatility on higher time frames).

Other strategies will lose efficacy when shared ( example, trading market micro structures on lower time frames )

Based on my experience, the best traders usually focus on the trading strategies that fit their core personality. Therefore, effective strategy transference is negated if the transferee is of a dissimilar personality type.
 
Giving out the method does not include giving out the MINDSET that needs to go with it. The mindset is the key, and that is a personal journey that is not possible to transfer easily. :)

There, I just gave out the secret :D

thesecrettrader
 
Quote from arealpissedgoy:



Based on my experience, the best traders usually focus on the trading strategies that fit their core personality. Therefore, effective strategy transference is negated if the transferee is of a dissimilar personality type.
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Absolutly agree. Also too many people will focus on trying to replicate exactly what you do, and they are not you. They would be much better off to understand the underlying philosophy of what you do, why it works etc, and then find a way to adapt it to their own situation..but most people lack the confidence to think for themselves, especially when starting out.
 
Quote from Brandonf:

I cant remember who it was in Market Wizards that said he could publish his entire method on the front page of the NY Times and Wall Street Journal and it would not effect the profitability of it because people would not have the discipline to follow it. So true.
More...
I believe it was Tim Sykes.
 
there is an exception to the 'publish it, it doesn't matter' theory..

if you're trading in something that does not have huge volume, and then 'publish' that method, you can in effect push yourself out of the market if you try to put on size at the same time as a bunch of other people.
 
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