And to answer your basic query, you minimalist monkey...Yes, if I found a system that made money for "everyone", I WOULD share it, with EVERYONE. Because only a moron would think that sharing it would tear up the entire trading world. Jesus!
"Edge" changes as one's knowledge changes, what I thought 39 years ago was important is not any more. If I said "it is not how much you make that is important, it is what you don't lose that is important", most would not understand but few would. And of course the masses would want me to share it, guess what, I have shared it in various posts and cause people think anything worthwhile would never be shared, laugh is on them. There been a few who have found my edge, and they have sent me letters saying so, and they were very surprised, and I have made a difference in people's lives, but people want the keys to the kingdom without working your asses off. Just cause you have the edge, you still need to make it yours so you can fully understand it. And there are many edges in trading, but people waste so much time learning about scalping and day trading, the big money has always be in long term trading, Commodity spreads, and options. If you are working at how to lose less often than S&P Index, you will beat the Index if you catching the trendable moves of the Index and not have the same drawdowns. Keeping it simple, if the Index finishes plus 15% for the year but had a 15% drawdown on the year, it actually made 30% for lucky souls who got in trades at bottom of the drawdown. So say you cut down the drawdown by half, you will finish 22.5%. Day trading can be very profitable, but you are going to have to be able to handle a great deal of disappointments for years for those who don't learn to program, and once you automate, there are limits of how much you can safely trade without causing your own losses and massive slippage in future markets. Stocks comes down to volume as well. Really hurting is options on stocks since more ETFs, I can see many stocks simply stop having options.
I couldn't agree more. Edges change quickly, and you've got to adapt. What worked in the 80's-00's doesn't work today. Some had quantifiable edges in spreads, and they earned a fantastic living doing it. But, when technology caught on and true vauluations became the norm it became harder and harder for non professionals to earn a living. What works today, might not work tomorrow.
Let me include, a statistically significant change in P/L doesn't mean you've found an edge. My personal view is an edge is a strategy almost without loss. It's incredibly hard to find, and even harder to scale. But, if you can use google and you've got free time..... you'll find it in a few years. Good luck new college grads.
Two highly successful ex-traders, one a pizza delivery boy, the other a gynecologist currently have the same dilemma - both can smell it but can't eat it
I will give an example of a REAL trader, John Henry, who experienced that sharing is detremental. In the early 90's John Henry did not hide his positions and shared that info with clients (I know this for 100% sure), and maybe also with others. He had to stop doing that because after some time he noticed that traders started to take position AGAINST his positions. They wanted to force him out, preferable with a huge loss. So YES, sharing is detremental if you are successful. And he even did not share his system,just his positions. 99.99% of people who say: "I would share", do this because they hope successful traders will share with them. They have nothing to offer, but just want others to make them smarter. And if ever they have a performing system they will change their mind and not share anymore. Just like people who will share their money if they win the powerball. This is confirmed by:"Yes, if I found a system that made money for "everyone" You admit you don't have that system, so logical conclusion: you wish others to present it to you. If you share a performing system everybody will get the same entries and exits, so you create a lot of competition for your own trades. Who would be so stupid? If you are smart enough to develop a performing system you are also smart enough not to share it.
Exactly and to add they are not even an Elite memeber, ooops I just disclosed my whole trading record lol
Nice post... I think the learning curve is the same if you day trade or not.. The only difference is day trading is for people that have extreme discipline, focus, and emotion control. I haven't find that it's easier to trade higher time frames vs lower frames.. It's all the same to me.. IMO, price action is the way to go because the edge really doesn't disappear like most say.. Only time I see an edge disappear is when you only trade one way i.e trend traders.. You have to understand ranges, reversals, breakouts etc..