Why do folks reveal Profitable Strategies, are they NUTS?
- Thread starter aeliodon
- Start date
It's called transubstantiation, they do the same thing with bread and wine
It is this simple. Work for about 5 yrs. or so like u have never worked before, and you might be one of about 100 that conquers the beast. Never quit your day job based on this stuff .... I saw it the first time and instant riches envisioned. 10 es traders with big plans to go to big s&p 10 traders 10 cars each trade per trader........Then a few months of boss losing as net result. Boss mega rich. I am thinking I can do this..little did I know yes I can, but will take 6 years to get there....slow learner? probably.......... Boss had fulltime programmers working for a few years..They said they made it but not in business 1 yr. later. They didn't make it. Can you? Probably not based on history of this business, which in my case is emini futures daytrading. I made it. Advise all to leave it alone. But if you must, don't expect a single "ah ha" moment to reveal the secret. It is just plain old fashioned hard work, learn the millions of bits of information, then if you can unlearn all but a handful of the best stuff, you might have a chance..unlearning is harder than learning.....Don't test with real money until demo is profitable for a few weeks ...if you don't have the discipline /humility to do that then you won't make it anyway.........daytrading with dead charts is tricky business.......for most of us..... position trading is much easier........requires deeper pockets.......for most....sad part for me is watching the friends fail one after another....given time they would see it as it is....beautiful opportunity that can be great enjoyment and income, thwarted by ego, greed and fear..or monster just better left alone....that is okay too.....
<i>"You are all my competitors."</i>
That is half true. The other half is we are all <i>collectively</i> competitors. Individually, no one affects any other's long-term outcome in trading.
In any given price move up or down, there are numerous points of valid buy or sell signals. It is absolutely impossible for any individual or group of people to negate your individual edge... unless you all try to use a rigid system where entry and exit points are defined to the exact tick.
All traders take any method or approach and personalize it. They tweak chart settings, time frames, indicator parameters, etc until it is a few shades different than before. This is not an exception... it is the rule in all instances. Basic human nature at work.
The biggest obstacle all of us face resides inside our own minds. Where other traders are entering & exiting is insignificant to our long-term results.
That is half true. The other half is we are all <i>collectively</i> competitors. Individually, no one affects any other's long-term outcome in trading.
In any given price move up or down, there are numerous points of valid buy or sell signals. It is absolutely impossible for any individual or group of people to negate your individual edge... unless you all try to use a rigid system where entry and exit points are defined to the exact tick.
All traders take any method or approach and personalize it. They tweak chart settings, time frames, indicator parameters, etc until it is a few shades different than before. This is not an exception... it is the rule in all instances. Basic human nature at work.
The biggest obstacle all of us face resides inside our own minds. Where other traders are entering & exiting is insignificant to our long-term results.
Interesting point austinp. I certainly don't mind inferior competition or other participants whose strategies are not heavily correlated with mine participating in the market. In fact I strongly encourage it as it boosts the liquidity wall of a particular instrument.
I just don't like people front running me, causing undo slippage, or theoretically the worst -- too many participants following essentially my approach and making us a big enough target. I'm unaware of a for-profit business in the world that freely gives away its trade secrets and competitive advantages to potential competition.
On a large scale look at various types of hedge funds and what happens when their style becomes "en vogue". Long/short, Global macro, swaps, algo/quant/, etc. As each starts to have a good year or string of years, everyone piles in and kills the returns.
I just don't like people front running me, causing undo slippage, or theoretically the worst -- too many participants following essentially my approach and making us a big enough target. I'm unaware of a for-profit business in the world that freely gives away its trade secrets and competitive advantages to potential competition.
On a large scale look at various types of hedge funds and what happens when their style becomes "en vogue". Long/short, Global macro, swaps, algo/quant/, etc. As each starts to have a good year or string of years, everyone piles in and kills the returns.
Well Tums I guess I should say that I am a short term speculator. That said though, if everyone bought in june, we'd probably be lower or around the same area. See: "Market Guru's" for the last millennia for examples of this. Start with recent's like Bob Prechter and work your way back. Most of these guys were operating in the kind of time frame you reference.