Quote from uptik2000:
But in reality I think RM or Steve T or Husky or NYSEKiller could go and post their startegy to the T. Or lets say they gave it to ten traders, I'd bet that at the most, 3 traders would be able to duplicate the performance. I'd even go as far as saying only 2 traders would make $ from it.
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You're right! They wouldn't put up the kind of numbers I do, but they <b>would</b> still get in my way. Get it?
I described a ficticious example of this process in
another thead:
Quote from Mr B:
<i>if you have a winning method and you share it, others will use it too.
which means more volume going your way, your method is strenghtened by popularity.
ABCD method, trend following, Elliott wave have all benefited from this.</i>
Rearden Metal: <b>Dead wrong.</b>
Let's say that after thousands of hours of devoted market observation, you notice a recurring pattern. Here, I'll make up a fictional example:
You notice that whenever copper futures are up huge (say, up over 8%) in the (stock market) pre-open, many of the copper stocks open only slightly higher- and then immediately run up a good 1%-2% in the first half hour of trading.
You take advantage of the pattern you've found by putting out limit orders to buy any copper stock gapping up less than 1%, on any day when copper futures are up over 8% in the pre-open. This makes you some decent coin for a few months, with the trade working out nicely nearly every time you get your setup.
Then, like a complete moron, you decide to "strengthen your method by popularity" by blabbing the setup to every trader you know, while making numerous convincing posts on ET pointing out exactly what happens to copper stocks when the copper futures are up big, and how you take advantage of this cash-cow recurring pattern...
So... for all you sharp minds out there paying attention to my little story: Can anyone tell me what happens next?
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You know, nobody ever did come up with the correct description of what would happen next...
