After struggling for few or more years and putting together something that actually work, people will not just share. Why would they want to give someone, who they do not even know ,something that costed them blood and sweat. That is one of the reasons. To this day I only found one person who shared his strategy for free, he still uses it and it works. If interested check out www.woodiescciclub.com
Sorry Steve for the misunderstanding. As for living in a bubble, that's pretty accurate in terms of the trading world. If I had something I was curious about in "the real world" I would ask some people to help me, say if I had built a foundation to a house but didn't know how to raise the walls on it. (stupid example..) But if I wanted to know something in the "trading world" I could not show my "foundation" (my system) to get the help needed, because then someone would exploit it in one way or another. And I 'm not allowed to see anybody elses "house" either, because then I could copy it. Well, that's a stupid example. But the same thing applies to the business of inventions and patents. Never would you get to see your neighbors invention before he had patented it (like in trading; made enough money in trading) So RedDuke, that is a very good explanation! No one like to give away something for free when they have put lots of efforts into it.
How does any of this have anything to do with TA? There are plenty of strategies out there to choose from on the various web sites with enough detail to use. I would say the premise for the thread is false.
lmao, u can give out pure gold yet nobody here would care and give a whoop, since we all lazy sleazy and full of mistrust. and the pride!!
My views are via discretionary rule based methodology. There's a discretionary element in any rule based discretionary method. Simply, have you ever wonder why some traders using the same methods have different results (losers and profitable)??? Therefore, as long as its a discretionary method (even if its rule based)... You are not going to lose your edge. In fact, any lost edge in most methods is due to a changed market condition and not because every body knows your strategy. However, I don't have any experience with automation methods and/or mechanical methods. Therefore, I do not know if sharing such types of computer codes will cause you to lose your edge even if the market conditions has not change. With that said, the sharing of my method has actually improved my edge because others have a different perspective and/or have made improvements... They then share with me their tweak of the method (entry method, stop management, exit method et cetera) sort'uv speak. An improvement I most likely would not have discovered on my own and such helps prevent drawdown periods or decreases the duration of a drawdown period. Last of all, as others have already hinted...most don't care how you trade even if your a profitable trader. By human nature, we have the need to try to reinvent the wheel (do our own thing) at the risk of never becoming a profitable trader. Mark (a.k.a. NihabaAshi) Japanese Candlestick term
oh yes the pride. hubris goeth before the fall. the not invented here syndrome attributed to GM. if it is not invented in house we will not waste our time on it. if only traders were like GM. they are certainly like the first sentence. adding on to losing positions till they can't meet the margin call.
I could tell you every single rule and even let you watch but odds are you could not repeat my performance because it is too subjective.
So probably one could just post his entire strategy/system and ask people to kindly have a look at it in order to help him improve it. Maybe one would even be better off doing that. However, something hinders the trader to do this. Many valid reasons have been posted.
I don't mind telling my strategy and I think it does not impact me if I do tell it. Basically in up markets I look for the current bull market leaders with good fundamentals, buy on a trend dip by selling naked puts 5 points under the trend to get paid to wait (and assigned) then when I sense it is getting toppy or when it can make me a fast 10% minimum in less than 6 months get out. If the trend flattens then I sell call options to get paid to wait to sell on a gap up and an assignment (much better than a limit order). In down markets I do the opposite with shorts. In sideways markets or segments I sell credit spreads on ETFs to earn income. I also have a playpen account of about 5% of net worth where I bet aggressively in options I never expose myself to any one large position and take losses fairly early if I see weakness developing. I try to keep about 25% in cash as a reserve for new buying opportunities - especially major sell offs on bad news for sectors or companies with good fundamentals. Pretty simple really. Sadly I did not follow my own system last month and got bit heavily on my option plays going against the bull run up and got sucked into a large gap up that cost me dearly to get out of a credit spread I held onto much too long in attempts to defend my earlier wins. This would have been OK if I did not bet so heavily on it in a foolish attempt to reach a financial objective for the calendar period... TS