Using somebody else's ideas

I have been trading stocks for sixteen years with different degree of success . I never used anybody else's ideas for trading as I always thought that i am smart enough to trade on my own.
Lately, I started to get a feeling that I might start using other people's brains . I found some interesting websites . Some even offer fully automated solutions.Or maybe I am fooling myself and it is all scam? Anybody have an experience on this?

 

I am always on the lookout for ideas. Sometimes I find them in the most unlikely places, even on ET. As they say: There is nothing new under the sun. But I have also found that I have better outcomes when I do my own thinking. There is nothing wrong with considering other peoples' ideas as long as we don't get lazy about it.

 

It was other peoples' ideas that got me into trading, in the first place.

First was the inflation table pounders, who convinced me to go long gold / silver a few years back.

Then it was option subscription service newsletters based on capital flow ideas (which all made money).

Then it was the technical day / swing trading DVD course with daily updates (which made consistent money and still does) which taught ideas like buying retracements inside a longer term trend, using indicators. :eek:

Then there were all the tech analysis textbooks they recommended.

Then there were the trading system books which taught about expectancy, risk management and position sizing.

Putting it all together, I arrived at my own ideas which were just hybrids of all the others, plus some finer points gained from my own observation.

Other peoples' ideas are cheap ways to get a head start, or a huge setback. It all comes down to the testing.

Or, as it says in a certain Book: "Prove all things........"

 

There is a thread in another area here about unregulated 3rd party scammers.

 

That's exactly what I was thinking. Traders are special creatures . Making money off somebody else's brains is not good enough . They'd rather make less or even loose but with their own ideas .
Case is closed.

 

evam parampara-praptam imam rajarsayo viduh
sa kaleneha mahata yogo nastah parantapa

TRANSLATION:

This supreme science was thus received through the chain of disciplic succession, and the saintly kings understood it in that way. But in course of time the succession was broken, and therefore the science as it is appears to be lost.


Parampara is in everything,be it trading,gambling or riding a bicycle.You need someone who knows it.It is that simple