What compels Winners to share.. 3 Possibilities I can think of off the top of my head while eating Burger King for dinner : 1. They are lying, and want attention, or some other idiotic reason. 2. They have really won it and want others to experience the pleasure they have experienced. 3. They want to take others up with them or at the very least hear stories of others winning to make themselves feel not alone. What do ya think? nononsense What compels Losers to share..
if you have a winning method and you share it, others will use it too. which means more volume going your way, your method is strenghtened by popularity. ABCD method, trend following, Elliott wave have all benefited from this. as for sharing losses: remember what Ed Seykota says, if you want to win, you will win. if you want to lose you will lose. everybody gets what they want from the market. so the people who lost got what they wanted deep down and now they want people to recognise their achievement.
Why do people want others to believe they are winners? Ego. They want others to tell them how smart they are. The real clever ones don't do this, only those who have the blinkers on. Maria
LOL... None of the above. A couple weeks ago I decided to start posting my daily numbers in the P/L thread. The main reason I did this, was to <b>generate a positive halo effect for all of my other posts.</b> When I talk about how buprenorphine is the future of depression treatment, when I explain why people should always vote for the Libertarian candidate, even though they never win, or any other cause I care about enough about to discuss⦠I prefer to be taken seriously- as opposed to being thought of as just another guy on the internet with an opinion. Also, I simply thought that many of the guys here would get a kick out of seeing frequent six-figure swings.
that statement from Sekota is irrelevant, as all want to win. There is no deep hidden thoughts that can be derived from that statement. How many regular people have invested their savings into the stock market and have lost a big proportion of initial investment? Probably millions throughout the world. But regular people invest on sentiment, not hard data (fundamental or TA based). Did they all want to lose? Probably not. People that do not persevere and quit are losers, but I wouldn't say they want to lose, it's just that they do not want to analyse their mistakes and learn from them, spend time on research and build the right attitude that is required for trading. On another hand, if one treats investing/trading as a profession and not a part-time occupation, such a draw down (I assume it was all he had - $400k) is plain stupid. It is not even a harsh statement, it is a fact. Sorry, I am not a psychiatrist.
Not so, some are unable to overcome certain traits they possess. They simply do not have the strength to do it. This does not mean they want to lose.
<b>Dead wrong.</b> Let's say that after thousands of hours of devoted market observation, you notice a recurring pattern. Here, I'll make up a fictional example: You notice that whenever copper futures are up huge (say, up over 8%) in the (stock market) pre-open, many of the copper stocks open only <i>slightly</i> higher- and then immediately run up a good 1%-2% in the first half hour of trading. You take advantage of the pattern you've found by putting out limit orders to buy any copper stock gapping up less than 1%, on any day when copper futures are up over 8% in the pre-open. This makes you some decent coin for a few months, with the trade working out nicely nearly every time you get your setup. Then, like a complete moron, you decide to "strengthen your method by popularity" by blabbing the setup to every trader you know, while making numerous convincing posts on ET pointing out exactly what happens to copper stocks when the copper futures are up big, and how you take advantage of this cash-cow recurring pattern... So... for all you sharp minds out there paying attention to my little story: Can anyone tell me what happens next?
interesting point, if you blab about your method you are opening yourself up to attack. that's certainly one way of looking at it and probably the single biggest reason why so many keep schtum about their success. another way of seeing it is: the following that technical indicators have is undeniable (fibonacci, elliott wave, trends generally, a list of 1000 other things). all of these were started by one guy saying that they worked for him. they are all inventions, they haven't been here since the dawn of time. one guy said it worked for him, everybody followed suit. now they are a self fulfilling prophecy. we all have CQG, we all have indicators, these forums are full of technical prophets, analysts make a good living talking jibberish but because everyone jumps on the gravy train it somehow works. although I do accept that it can go either way: by drawing attention to a method you are opening yourself up to support but also opposition. I don't agree that we're all in it for the money. trading floors are crammed full of macho men who think that there is something masculine about taking stupid risks. these are the guys who let losers run way offside because "you've got to have the balls" a person like that obviously cares a lot more about their sense of manhood than money. also how many are more worried about being right than not losing money. every time I see someone who doesn't cut losses I say to myself "that guys not here for the money, he's more concerned with his ego/machismo/unhealthy apetite for risk"
' My mind may not be as sharp as yours, but I would say that this is an edge that will not last long whether you tell anybody about it or not.