You talking about discretionary methods, mechanical systems or automated systems ???...there's a difference. For example, if I had a profitable automated or mechanical system...doesn't make sense to share it unless you're getting back something of similar value that would allow you to apply it in markets or price action you normally would not have traded. I knew two guys that did such and it's working well for them after a meetup as you called it...one traded Treasuries and the other traded Options. Now...both are trading options and treasuries profitably. The spas was great and the restaurant too. As for discretionary methods...you won't lose your edge unless everybody (on the planet) has access to it and tries to apply it at the exact same moment as you in the exact same trading instrument. Mark
so many people are affraid of sharing profitable strategies. when in reality, nobody will trade them on a real account. there's absolutely nothing to be affraid when sharing profitable strategies either for free or for a fee. almost all traders (99.9%) will trade only the most shitty, stupid, phony, designed to profit from churning, crazy mumbo-jumbo filled with sophisticated descriptions and track records of 100% winning trades/weeks. the beautiful truth is- people DON'T WANT to trade profitable stuff! the winning strategies are something they avoid at all costs. you know why? these are very different from the holy grail, everyone is searching for. same with health. sun gives health for free, but people prefer to pay for drugs which kill them or greatly damage health - they seek a magic pill. folks choose NOT to be responsible for their own lifes. <b> i can guarantee you, from the two strategies: 1. makes new highs almost every month for the last 9 years, with 40% profitable trades 2. makes 89 winning trades, then loses all money in the acct in one or two trades.... the 2nd one will be 1000x more popular.</b>
What I am saying is that if I don't share, others won't share also. It's the turd in the punch bowl syndrome as stated by the previous poster. So, if I want another profitable system ("another option"), I would have to share. Basically, in this case, my sharing would be trading a p. system or another p. system. Mutually beneficial. Cool.
In fact, if we are talking of longer-term trades based on fundamentals, such discussion is more often beneficial than not. There is so much actual information and rumors (both affecting the price) that one simply cannot know all of it. Discussion regarding technicals (entry level and target) in a fundamental trade can be useflu too. Further, the more people buy into the idea, the stronger a trend tehy form. So, sharing an edge on trade-by-trade basis (as opposed to methodology that can be applied again and again) in fact benefits the trader who shares to some extent.
Okay, well, if one currently has, or ever finds a profitable method, I seriously doubt one would risk sharing a great thing for something that may or may not work for them. Hence, stay away from trader invites. Just say no. ;>) Of course, you could say to someone: Okay, here's what I'll do. I will give you trade signals for one month. The next month you have to give me trade signals. Neither of you reveal what you are doing, just supplying signals to the other one. Then, if both provide proof suitable to each other, then details could be shared.
Wouldn't you need to share that specific trade-by-trade info with enough folks that represent key market participants of a particular trading instrument...to result in a trend or stronger directional price movement...assuming they ALL stay in the trade instead of exiting at different profit levels. My point is if you post a real-time trade here at EliteTrader.com or any other discussion forum or chat room...it's not going to have any impact on the price direction. Mark
Probably not... though there is always a chance someone you discussed an idea with next discusses it with a friend who writes an influential blog on trade ideas. Alternatively, teh idea may become "viral". Anyway, the key point of my post is in the case of one-off trades based on fundamentals discussing an idea with others doesn't necessarily decrease the odds of the idea working or the profit potential of the idea; on the opposite, the odds and profit potential might as well improve as a result of such discussion.
i would say there are about 3 categories to trading profitably. If you think you have some system/edge you probably dont.