The dynamics of thought when becoming a trader

Discussion in 'Psychology' started by alex.samant, Oct 11, 2007.

  1. I was thinking and i want to share this with you.

    Some time ago, i was doing some research with the RSI indicator, and i came to some very profitable conclusions, but they pretty much came in contradiction to the popular way of using this indicator.

    At first, I wanted to post these on ET, then, when I opened up the IE window and wanted to start a new thread, well... i sat there and thought... "Why am I doing this?" I didn't really want to tip nobody off.

    It's pretty weird, but since then i became more and more secretive about everything. I no longer post on my blog, no longer get in technical discussions with anyone. I just try to play my game and that's it.

    Anyone in this situation? Is this good or am i becoming anti-social and selfish?
  2. this is very good indeed

    soon, your secrets will put CIA and NSA to shame

    oh and, wus up with RSI

    isn't that kind of ..........unnecessary
  3. i'm not sure i understand your last two sentences....

    The first ironic part, i got it... and i don't really mind.
  4. However, i don't consider anything a secret... And I doubt the CIA or the NSA trade :)

    This thread is not to prove anything, it's here just to describe a situation...
  5. welcome to the devil's playground.....found myself in the same boat years ago. people can call me selfish if they want, and i really don't me or not, doesn't bug me either. agree with me or not, and i will just smile.

    i am more than happy to share a general framwork of what to do, but i am not giving up my edge. you have to know something other's don't.

    don't give away a thing and don't feel bad about it either.
  6. Im not sure i agree

    you don't know something others don't. There are no secrets in trading, Indicators have all been done, tried, optimized, all being used someway or another by someone somewhere out there.

    If you have found ''a cool RSI setup'' that you think is unique, well think again, most likely its known, popular, and if not, the equivalent cool setup will be found on other oscillators using different periods or timeframes, etc.

    there is nothing new under the sun, except for you.

    And there is no such thing as a ''Edge'', besides pleasing your ego and believing it makes you look better to other traders, You apply a profitable strategy or you dont. Someone might have developed a better strategy than you (better = less trades, more tics) somewhere out there, but that doesnt mean they have any kind of edge.

    Also, Learning someone strategy, dinapoli for exemple, and throwing in another indicator, i.e RSI, and then calling it your edge is the equivalent of wearing a gimp suit complete with ballgag and stilettos at the office and then call it your edge.

    Every indicator is a double edged sword. Every filter you add will in the end prevent you from taking profitable trades AND will also prevent you from taking bad trades.

    The ''edge'' illusion often stems from ppl gathering in trading rooms (woodie cci for exemple, bunch of people trying to learn to trade using the CCI indicator, barely making money at all, but then anyone can go in there, add volume and fibs filter to the strategy, and make 4 times more than woodie himself, because its a better strategy) People will call this ''A Edge'' because they have something more and allegedly better than the rest of the group, but in the absolute its not a edge at all, its a different strategy. People using 2 diff strategies dont have a edge againt each other.

  7. this discussion is not about the "edge".

    i am sorry it came to this point.

    it was all a matter of reaching certain conclusions through hard work and screen time galore and then not wanting to challenge the mass belief regarding the subject of the work...

    i am not searching for an edge and never have been. I have been searching, though, for the truth and i believe the truth to be "what works" for me.

    that's it.

  8. That is the truth.

    the other truth is that you do not have to feel bad if you do not want to share your truth, or edge, or profit center.

    If you pass a starving man on the street and do not help him, you should feel bad. But the reality is if you figure out a technique or mindset that works for you, you don't have to share it if you don't want to. If you did share it most people would not be able to make money with it anyway and then they would accuse you of being a snakeoil salesman.
  9. "If you did share it most people would not be able to make money with it anyway and then they would accuse you of being a snakeoil salesman."

    Good point.
  10. Joab


    Yes, I am in the exact same boat and I agree with you completely.

    I worked VERY hard and lost a lot of money to be here and it's not fair for me to just give away diamonds when I've invested the money, time and energy to find them.

    That being said I have no problem sharing it with people that are willing to pay me for all my troubles and I also make sure that I donate money on a regular basis to the homeless.

    So I don't think I'm being selfish :)
    #10     Oct 11, 2007