Why does no one here give detailed trading advice?

Quote from hellothere:

I've been lurking for a while, and have noticed that none of the supposed successful traders here give any detailed advice on how to trade successfully. ..?
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18 pages but nobody have pointed out the obvious. Have your eyes checked pronto.
 
i know nothing of chemistry,if this was a sight for chemists,and they were past chemist 101 class,i wouldn't have a clue what they were talking about,unless i took a class in chem 101 and passed,there is no easy way to trade and if you haven't figured that out you haven't passed trading 101,go back to the drawing board,study and study somemore,read some books,get a clue as to what you dont know and fix part of that and maybe chemistry will start to make sense,could this be another bothersome journal started by aliasboy?
 
Quote from LodeRunner:

No no no, it's much simpler than all that. No successful trader is "supportive" because no successful trader is that stupid/suicidal. This isn't the Special Olympics... not everyone comes home with a medal. In most cases, helping other traders will actually cut into one's profits to some extent.

To truly wrap your head around this, first consider those markets that are zero-sum games (e.g. futures, forex). "Zero-sum" means that every single dollar a trader makes is balanced by a dollar that some other trader loses (ignoring commissions and exchange fees, which actually make things negative.)

Think about that for a moment. You're a *professional* trader... this is how you put bread on the table. The instrument you're trading is zero-sum. Some guy comes up to you and tells you that he's been losing money, and he asks you to teach him how to make money. So you sit down and explain your system to him, and he goes out and makes a bunch of money.

That money he's making is coming directly out of your pocket--well, yours and every other successful trader's. And what if all the losers come knocking at your door, and you teach your system to all of them... you're turning losers into winners, but IT'S A ZERO SUM GAME... dollar for dollar, it's *impossible* for the winners to outnumber the losers. For every loser you convert into a winner, you make less money. Eventually, if your secrets become common knowledge, your system crumbles entirely and you (and everyone else using your system) become unable to turn a profit.

This is why no one posts a straightforward how-to. It might be effective at first, but as it became common knowledge it would very quickly lose all predictive value.

You might argue, "but what about stocks?! They're not zero-sum, right???" Well no, they aren't, but my explanation more-or-less applies to them as well. I'm not sure if I can explain this formally, but as far as I can figure there have to be losers in the stock market as well or else the entire thing would turn into a gigantic pyramid scheme ("bubble") that would inevitably collapse and take the entire economy with it. That's the crux of the matter... hyperinflation. If everyone KNEW that GOOG is going up 10% tomorrow, then everyone would buy GOOG right now, thus driving up the price *right now*. It's a vicious cycle, and from what I can figure there are only two ways out:

1. The system loses its effectiveness.

2. The entire market implodes due to hyperinflation, and the "everyone-wins" scenario turns into "everyone-loses."

There are exceptions to the sharing_is_bad philosophy. On a very limited scale (i.e., non-public-forum), I believe that very specific strategies can be self-reinforcing.

And then, of course, there's the fact that money isn't everything. Some successful traders will share just for the hell of it, in spite of all reason. They'll share with a few specific individuals, who will profit immensely, or they'll share with the world and their system will lose its magic.

But the vast majority of traders... they're just going to sit there, vague and smug, enjoying the fruits of the system they worked so hard to build. And why not? The only alternative is to dilute their success, if not outright destroy it.

This isn't like meeting women. There are more men than women in the world, so it's perfectly possible for ALL of the guys in the world to get married... but it's NOT possible for more than 50% of the ES traders in the world to make money.

You need to buckle up, buckle down, get VERY serious about carving out your own niche in this game. If you're not ready to do that, quit wasting your time.

Or, better yet, waste your time on some generic, publicly-available system... go ahead and throw some easy money out there for those of us who *are* serious about this game.
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LR summed it up very well.
 
I still say baloney. No system works all the time. In all systems one has to endure drawdowns and that scares to many people off. It is the ability to control ones emotions that seperates the winners from the losers.

I have many trading systems that I designed and why do I want to sell it when I can just work the system for my money. Why start a business and try to sell a product? I do not need that headach. Shareing your ideas will not muddy the watters of the markets, they are to deep and one must be designing new systems anyway to keep up with the smart money.

You have time to post here about what? to tell people how ignorant they are? why not enlighten the ignorant and help your fellow trader out. We are a large comunity and trading is a lonely game. You do not need to give daily lessons, but if we all shared a little bit of our knowledge with the begining traders then they might not have it as bad as we did durring our learning curve.

I will start off by saying to the newbies that you need to study volume and price action first. forget about indicators for now for the information that they are built from come from volume, price, and trend anyway. See how volume and price react near support and resistance levels. Google Fibonacci retracement.

There that is more advice that has been given in this whole thread. Look for my charts soon I will start a thread and call it "For beginners only"
 
This is good advice, and also been given by dozens of traders here probably in the last several months alone. As a new member, you haven't had time to see this for yourself.

Quote from ApsII:



I will start off by saying to the newbies that you need to study volume and price action first. forget about indicators for now for the information that they are built from come from volume, price, and trend anyway. See how volume and price react near support and resistance levels.
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If it's going up. Buy it.
If it's going down . Sell it.
If it goes against expectations. Sell it immediately.
Risk only a small part of your gambling money.
Profits are luck. Small losses skill.
Small losses are where the money's maid. Whoops make that made.
 
I figure things out very quickly Being a profesional in the markets and in human psychology. A few pointed remarks can bring out a colorfull display of emotions, those under controll and those not so.

Swordsman I comend you for your restraint and I know now that I can rely on your judgment going foward. I have made one reliable friend. Cabletrader I think that you have shown me what I need from you "nothing".

Swordsman I look foward to future dialog with you, for now I am off to do more research I hope that there are more like you and less of cable guy. I have a list that I am compiling that will help in saving time as to who is worthy of my time.

Good day to all.
 
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