Quote from jnbadger:
...Richard Dennis said that you could publish the rules of a proven system in the Wall Street Journal (I capitalize under protest) and most people would find a way to f.... it up (paraphrazing)
I completely agree.
Quote from jnbadger:
There are no secrets. Everyone has the same info...
True.
However, the problem is that everyone don't process nor use the same info the same way.
That's where profitable traders begin to separate themselves from losing traders.
They are not processing the same info the same way as a losing trader.
Recently I seen some ET members post a chart...some charts are just price action and nothing else.
Other charts may have an indicator or two on it.
Then the ET member ask for opinions about the expected price direction.
The opinions are different while the chart remains the same.
This holds true to most trade methodologies and guys like no_pm threads here at ET is a perfect example.
Share the method and the thread quickly develops into the following:
* My data provider doesn't have the indicator and I'm using a substitute.
* I'm going to change the indicator setting.
* I'm going to add a moving average to the indicator.
* I'm going to change the exit rules.
* I'm going to apply it to a different trading instrument.
* I entered too late, I exited too early, I didn't take the trade, my data vendor doesn't have that particular setting...
I can go on and on.
If you share your profitable strategy for whatever reasons...the odds that a mass number of traders or a few with positions large enough to cause you profit problems are
remote.
If you choose not to share your method for whatever reasons...
That's cool too.
There are advantages and disadvantages to sharing a method.
Which one outweighs the other is trader needs specific.
Yet, I do see a possible problem with telling a mass number of people in
realtime when you are going to enter a trade (signal calling chat rooms).
That's where I think an edge can be lost if enough people are involved and know in realtime when your going to do something especially if your trying to move some size.
Mark
(a.k.a.
NihabaAshi) Japanese Candlestick term
