Why would anyone share their secrets?

Quote from Batman28:

sorry guys, but keep your losses small isn't a great idea. really. it's the best way to kill serious profits.

'keep your losses small' just sounds nice. doesn't actually have much meaning. probably only makes sense for day trading and playing for pennies too.

I think the proper meaning of keeping losses small doesn't mean literally, but rather, relatively small. Risk is usually directly correlated with reward...

So yeah if I am swing trading 2-3 contracts of Wheat, it is silly to say I will bail out of a trade if I am down $100 (literally small).....what I need to keep small is the amount relative to the size I am trading, as well as to how much reward I am aiming for. Maybe something such as being down a certain % of margin on the trade is more appropriate.

Sorry about the Gilliam Curve thing, by the way..just a little joke from a thread I started yesterday.
 
Quote from [Proximo]:

He's just fucking with you.

There are no secrets in trading. The only ones I can think of is "keep your losses small".

Actually "look before you leap" is a greater "secret" than "keep your losses small".

I agree skill is borne out of experience (of the good, the bad, and anything in between) + some innate or acquired ability (perception, persistence, etc). While anything can be learnt, the learning curve is not the same for everyone. If it will take a lifetime to master enough to break-even, then there is probably no point trying.
 
Quote from Batman28:

sorry guys, but keep your losses small isn't a great idea. really. it's the best way to kill serious profits.

'keep your losses small' just sounds nice. doesn't actually have much meaning. probably only makes sense for day trading and playing for pennies too.

No serious trader posts actual details of their trades on Net Forums.

Especially if one is doing something creative.

Most of the people posting detail here...
Are doing some simplistic variation of:

(1) Momentum trading

(2) Technical analysis

#1 is very hard to do...
#2 is completely worthless.

I actually feel bad for n00bs trying to learn at ET...
Because > 90% of the crap posted here is worthless...
And a n00b has no way of differentiating truth from falsehood.

Conversely...
It's actually VERY EASY...
For the 5% successful Pros... to spot the other 5% successful Pros.

Most people do not even seem to understand...
That ET exists for the SOLE PURPOSE of selling ads to brokers...
So the brokers can fleece the wee lambs.
 
Quote from QuantPlus:

No serious trader posts actual details of their trades on Net Forums.

Especially if one is doing something creative.

Most of the people posting detail here...
Are doing some simplistic variation of:

(1) Momentum trading

(2) Technical analysis

#1 is very hard to do...
#2 is completely worthless.

I actually feel bad for n00bs trying to learn at ET...
Because > 90% of the crap posted here is worthless...
And a n00b has no way of differentiating truth from falsehood.

Conversely...
It's actually VERY EASY...
For the 5% successful Pros... to spot the other 5% successful Pros.

Most people do not even seem to understand...
That ET exists for the SOLE PURPOSE of selling ads to brokers...
So the brokers can fleece the wee lambs.

I agree with you my man. ET is here to earn money from sponsors, and for me to have a good time cutting up with other traders.

Trading is simple, but not easy...but then again, it really depends on how you trade. Some people have some very complex stuff going on...so maybe it ain't so simple...

But what I do is relatively simple...in fact many times I'll catch myself trying to make it more complicated than it needs to be...out of boredom....

Having open positions on, however, is anything but boring...to me at least.
 
Quote from QuantPlus:
Because > 90% of the crap posted here is worthless...
And a n00b has no way of differentiating truth from falsehood.
This is actually one of the more insightful posts I have read on ET. There are good ideas here, but not many, and they tend to slip by the newbies unnoticed.

Regarding trader skill, I do mostly automated trading these days. I suppose somebody could say the skill is building and testing the system.
 
Quote from Batman28:

when it comes to trading (or maybe anything involved in making money) you'd find there are lot of people who are dying you to offer you advice on how to do it etc. Even on this forum, there are few who want to call the market for everyone and tell others what to do. the question is: if anyone truly had the knowledge/tools why would they share it or offer it to others?

from this we learn that anyone with a logical mind who is actually successful in the real world with real money would never share their secret. given this we can conclude that nothing anywhere, on the net or even in books are PRACTICALLY valuable. e.g. there is nothing on this whole forum that will make u a better trader - it may even distort and cloud your thoughts and mind.

this would mean there are tons of amazing secrets that successful people have that others can only dream of. it may only make sense for them to share this with family (son etc.) or someone very close they have known for a long time.

my conclusion is that to be successful, whether it's trading or anything in life you need to work hard to understand the world we operate in and acquire expertise and intellegence not freely available to all - especially that which is difficult to obtain i.e. requires large human work resources. and we can agree time to be the most valuable. if anyone cheats or has taken short cuts they would have had great teachers, parents or friends who were willing to support them along the way.

the point of this argument is not to read anything on the topic in question at all - in fact ignore everyone else and think about it yourself. put it to test, gain experience, and try to learn - i.e. don't forget the outcome of past trials and errors.

in simple terms, the success of men depends on their ability to understand this world and acquire knowledge independently.

Because when I was starting out, many people went out of there way to help me.
 
Quote from QuantPlus:


Most of the people posting detail here...
Are doing some simplistic variation of:

(1) Momentum trading

(2) Technical analysis

#1 is very hard to do...
#2 is completely worthless.

Care to elaborate on #2 and why its worthless?
 
Quote from Sniemiec:

Care to elaborate on #2 and why its worthless?

Technical analysis is worthless to those that fail to profit from it.

Have found no other explanation for such comments.

Anek
 
Quote from Sniemiec:

Care to elaborate on #2 and why its worthless?

a) There are a large number of studies showing little value in classic TA when subjected to multiyear studies across markets, across many different parameter settings for TA indicators/methods.

b) The opposition, TAphiles, have little to prove that TA works, outside of anecdotal reports. In addition, even the CTAs (and many hedge funds) who are supposed to be the experts, struggle to perform well, examining most CTA annual performance reports.

c) I side with a) over b)
 
Quote from rcanfiel:

a) There are a large number of studies showing little value in classic TA when subjected to multiyear studies across markets, across many different parameter settings for TA indicators/methods.

b) The opposition, TAphiles, have little to prove that TA works, outside of anecdotal reports. In addition, even the CTAs (and many hedge funds) who are supposed to be the experts, struggle to perform well, examining most CTA annual performance reports.

c) I side with a) over b)


Sure, you can make TA into something completely irrelevant and negate any edge you may have gotten from its use by making it either too complicated or too distorted....

But, having said that-

Try convincing anyone who makes consistent money using TA that TA doesn't work....I don't think you'll get any anti-TA converts.

Just because studies don't find it to be true....well, hell back in the 1800's the medical community used to say that their studies indicated TB patients should be kept in damp, moist caves so their lungs could heal. No amount of studies can refute reality. Do studies take into account the myriad methods of money/risk management, etc? There are many things besides just TA that are used to make one a succesful TA based trader....I imagine the same can be said of anything whether fundamental, astrological or whatever else is out there.
 
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