Quote from capamando:
Hello,
I have been spending several hours everyday reading everything related to Forex trading and one thing that puzzles me is this secrecy concerning people's winning strategies.
Read up on game theory. This will explain why people have an incentive to keep secrets and why helping others can actually hurt you by destroying the goose that lays the golden egg.
What is the problem with sharing and helping other people out?
Trading isn't a charity. While sharing and helping others works fine in many areas of general trading advice, you don't see Mrs Filelds passing out recipies to her cookies, drug companies passing out formulas to their newest drug, Microsoft doesn't make its source code available on the Internet, etc. In other words why do some companies keep secrets? Answer is it is in their best interest to do so - giving away their secrets will make them less cometitive and might even run them out of business. Traders are no different than companies.
I am just starting in Forex and would appreciate someone sharing a basic system of trading that can generate 20-30 pips a week.
Look around and you will find many selling dreams. But those dreams aren't as silver lined as they are advertised.
I guarantee you that if I was successful at it, I would not hesitate to share it.
This is another reason why nobody would share with you or any other like minded individual. If you were making it with my edge then you would destroy the edge by passing it out on a street corner. I liken your supposed generosity to being foolhardy.
Now, wait a minute, I realized that one can not exactly duplicate anyone's results.
Any fund or sophisticated trader could program in his computer a given rule set to automatically trigger and those computers could execute virtually identically.
And it is for this reason and the fact that we are talking about a gazillion$$$ market with millions and millions of traders that I don't understand the reluctance to share a successful systems.
Don't be too quick to believe the "trillion dollar" marketing hype. The fact is that forex is a limited market, just as every market is limited. Meaning there is no Rockefeller handing out money on street corners in forex and each one of those entities is running their forex trading as a for profit venture - meaning they are out to get your money if you let them have it.
I do want to thank all of you that take the time to inform and educate the members of this forum. Especially a knucklehead newbie like me.
Thanks
Keep doing your reading and think out the idea that if everyone in the market is out to make money, where is that money coming from? If I gave out my profitable systems they would cease to work in very short order and I would destroy my own game. Not a smart thing to do for a capitalist. If you want to be charitable, donate to your favorite charity after you have made your money in trading.
