All over this board i read remarks like "I can't disclose my secret system, otherwise it will lose it's edge." Bullshit! It's time you bozos got it under your skull that there will always be enough losers in the market to take money from. Why the hell do you think 95 % of all futuretraders loses money? You giving away your holy grail isn't going to change that. Progress is made by sharing experiences and knowledge. If nobody was willing to do so, we would still be living in caves.
There is some validity in what you say... but there is also validity in my viewpoint which is: I have spent years developing my systems, with countless day-night sessions of sweat and brainwork... I am not prepared to share the intricasies of this knowledge with freeriding beggers, but I am occasionally prepared to give general guidance to people who I like, so that they can chart their own progress towards consistent profitability (assuming that they are prepared to put in significant amounts of their own sweat and thought)...
Candletrader, I completely agree with you, i too have become a little more reluctant to share after i got some enlightening reactions on this board when i posted a setup. Of course you don't want some moron to benefit for free from your hard work. Good trading to you. Ditch
Giving away your holy grail won't change it, at least not right away. Maybe one person will take your idea and use it. If it does well for them, maybe they'll share it with one or two other people. Eventually, a larger number of people may end up using your system. On the other hand, though, by the time that happened, probably a few years will have passed, and the market will have changed so that you'd need to change your system anyhow. Also, the system would probably get altered as it got passed on from one person to the next, so that the version of your system that became more widely used might even be almost unrecognizable from your original method. So, I guess in the end it doesn't really matter. What would be funny, is if the system got passed around and altered like that, so that it eventually came back to you in a form you would never have come up with yourself, after your own method had lost most of its effectiveness because of changes in the market. You could possibly end up benefitting from having released your methods to others, in that situation. In fact, getting some constructive feedback in any case could be a motivation to share your system. Others might help you improve it.
I completely agree. Traders in my dog house: 1. Traders that are rude to others here for the sake of fun or making false comments in a gang like mentality. 2. Traders that consistently post negative comments without any proof. 3. Traders that attack other traders that have shared a strategy or system... regardless if its discretionary or mechanical. 4. Traders that are unresponsive to questions by traders trying to help. 5. Traders that have made it loud and clear that money consistently cannot be made nor in the current difficult market environment. My opinion...best to plant a seed of info for them and let them grow it any way they want... because the above traders aren't going to be appreciative if you walk them through the process from start to finish. There is no holy grail. However...there are tons of things out there that gives traders a competitive edge. All a trader needs is a few and be sincere in the process of obtaining that few. If your going to share something...best to do it in EliteTrader's underground... called private messaging. Even better...share it live-realtime in one of the traders chat rooms on mIRC via private messaging... a lot better than hindsight explanation. NihabaAshi
But don't you see that your secret is safe with those 5 categories, because those people aren't going to take your strategy seriously even if you hand it to them on a silver platter. No fear that they will take your methods and run away with them making undeserved fortunes for themselves. They're too stubborn and spiteful to benefit from what you put out publicly.
Good points hii, Yet...my concern about traders that shares is not a fear that others will take trading methods and run away with them... My concern is where and how traders share or to whom. Here at EliteTrader...when discussing strategies in the open forum... best to just plant a seed of info because it too anonymous here at ET and traders abuse that anonyminity. Sharing more in-depth info via private messaging, email, live-realtime chat removes a little of that anonyminity (not sure if that's an english word). Thus, sharing is ok...the issue is to whom and you can't control that in the public forum. NihabaAshi
It is very unfortunate, but my experience with sharing information when asked has been uniformly negative. If I knew I was sharing with an experienced (or even intelligent) trader who could appreciate what I was giving him, I would be more open. But I suspect like many on this site, even when I have shared results and specific information on great systems in private e-mails, I get either stupid objections or refusals to even reply. So...why bother?
I have the same impression. I wouldn't share anything of importance with a bunch of fools self-appointed hot shots that spend all day high-fiving among themselves like wow i made 0.5 NQ points, wow i made 0.75 ES points! cool! nice profits .... 4 ES points for the day with my 1-lot account. PFFFFFFFFFT