Successful traders keep silent

Discussion in 'Trading' started by timvodas, Aug 31, 2007.

  1. timvodas


    Have you ever wonder why successful traders are so secretive about their trading?

    In other disciplines, you generally find successful people open up and share about their experiences and success... it is human nature that people WANT to talk about their success... it feeds the ego, and successful people generally have big ego...

    But this doesn't happen in trading... those who talk most probably trade worst... do you know why?

    Many people point to the zero sum game mentality and states that if too many people knows about it the profit goes away...

    This is simply not true, because trading is not a zero sum game... this is true even for derivatives such as futures and options... and successful traders all know about that...

    The reason they don't talk... is simply because successful trading is so simple... or I should say, successful trading method is very simple...

    The methods are so simple that you only need 30 seconds to tell someone the essence... what is difficult is the path that one had to go thru before he reaches these simple methods (enlightened stage?)

    The name of the game is to figure out what DOESN'T work... there could be tens of thousands of items on your list, and what you do is to throw out the items one by one, until you're down to the last 2 or 3 items that really stays there...

    If it took you 10 years of work to figure this out... and then you find out you can pretty much tell ANYONE in a day what those 2 or 3 items are and make him as good as you in trading... what would you feel? You feel a sense of "unfairness" and avoid to simply "give it away"... It is this sense of "unfairness" that create the "my precious" mentality...

    Some would even fall into denial and start to make trading sound complicated... as if successful trading has much to do with "the trader"... the inner state, some sort of energy flow or psychology that only a "true master" possess... they tell you successful trading is "all about the trader" and little to do with the method... they can't accept the fact that they're making all these money with such simple methods... they have to feel special and they practice buddism to make it complicated...

    The only reason why people shut up after they've "made it" is because successful trading is so simple...

    They're just human and they are selfish individuals... they can't help but enjoy seeing other people walking in the dark while they're printing money because "they deserve it"... occasionally they "give back" to the community by handing out small tips without revealling anything of meaning simply because they need to let their ego out somewhere...

    I have yet to see ONE genuinely successful trader sharing his current trading methodology in whole...

    It is simple as that... people don't talk because it is so simple... if it were complicated they don't need to keep silent - they can give you phone books of rocket science equations and you won't figure it out anyways...

    The first person who invented the wheel was a genius, the second person only need one peep to get level... understandably the first person would want to stay genius for as long as possible...
  2. This already been discussed to death.

  3. First define what is a successful trader? The definition is so chaotic and ambiguous.

    There is no secret formula or holy grail in this line of work. There are successful selfish traders who wrongly think, they know what others don't and that is such a wrong line or reasoning. Those people are really not that successful at all. They are selfish brickbats sitting lonely on the tracks.

  4. While trading is a skill and takes time not eveyone takes 10 yrs to make it that is just plain stupid. The same way some people can pick up a set of golf clubs and be playing under 80 in 6 months (not me) I have been in the game since 1992 and am still learning but it didnt take ten years to be profitable.
  5. ion


    Why do you copy and paste my old post?
  6. Mea


    In conclusion, there are many ways to trading successfully, find them and earn it like others did. What's the problem? You expect something for nothing?
  7. Johno


    Reflecting on 25 years in business I cannot recall 1 instance where anybody fell over themselves to share any special knowledge or skills that would give me an enhanced edge. I have encountered some that actively discouraged me from pursuing directions that proved very profitable. Trading is a business! As an entrepreneur you bring your own special skills set to the table and with hard work you may succeed. Trading like every other business leaves us with the opportunity to sink or swim, rather than waste your breath whining, save it so that you can swim harder!
    I hope you realize that you have just been given the keys to the treasure chest.

    Here endeth the lesson!

    Best Regards

  8. balda


    I wouldn't do it for other reason.

    What if my method is not suitable for other person. That person will think that I did not disclose everything and will blame me for his loses.

    Most of the people think that they can outsmart disclosed method.

    We can have same entries and I will make profit when student will take a loss. Emotions will destroy any method.

    I have disclosed a very simple strategy for ES long time ego. Buy a new high or sell a new low in a last hour of trading, cover on the close. It has been back tested and makes on average 1 point per day. With larger volatility profits rise sharply. I am sure people will start using trailing stops, profit targets, support resistance, fibonacci and will lose. And will come to conclusion "If I cannot make money with my advanced exits the system is useless". And eventually will blame me.
  9. nataliman


    Or perhaps there is no such winning methods... ? we just play the game and win or loose by random....
    Fooled by Randomness (Nassim Nicholas Taleb)
  10. Adobian


    SO, have any one of you make $200K a day during the recent swing of the market,
    #10     Aug 31, 2007