Did you just buy a new course?

Discussion in 'Psychology' started by balda, May 8, 2006.

  1. balda


    found this from some one who trades for living:

    "In fact, that one thing may even be special insight to a particular industry, an unusual technical analysis pattern that offers a sense of predictability, or even a stock screen which produces consistently good investment candidates. The key is that you've got some special edge. And, no matter how much I desire to help you and will provide you with numerous clues to how I trade successfully, there are some things that I won't ever reveal and will never share with you. Like any successful trader, I fiercely protect my edge. You will do the same once you acquire your own."
  2. I remember someone here at ET telling someone else that he's just shared with them some very useful trading tips and a few of those were edges.

    However, he had one edge he would never share after the guy asked him for more info about something he didn't understand due to the lack of info.

    I think this is common practice among those that share trading tips, methods here at ET.

  3. Its partly caused because you feel that if you did the work then the next person should also make the effort. Its also caused because if they dont get the simple stuff and master it then the "extra edge" would be a waste of time.

    Most never seem to get the simple stuff sadly.
  4. WD40


    Five Defining Features of Market Pros

    1) The less successful traders are anticipating market movement and trading accordingly. The highly successful traders are identifying asset class mispricings and trading off those.

    2) The less successful traders are trading particular instruments and pretty much stick to those. The highly successful traders recognize that any combination of trading instruments can be considered an asset class and appropriately priced (and gauged for mispricing).

    3) The less successful traders think of their market as *the* market. The highly successful traders focus on interrelationships among markets that cut across nationalities and asset classes.
    4) The highly successful traders place just as much emphasis on understanding markets as predicting them. The less successful traders don't ask "why" questions.

    5) The less successful traders are convinced they have proprietary information of value that they must not disclose to anyone. The highly successful traders use their proprietary information to selectively share with other highly successful participants, thereby gaining a large informational edge.
  5. it is MAINLY cuz of that; also u'll never know if da full disclosure of u edge will cause dilution to u success'n'maybe has a negligible effect on u tradin' but cud also be that u edge wud disappear fast if u give away too much...maybe it is all paranoia but better be paranoid than sorry, innit[?]