The same approach to understanding cameras and photography which you have acquired should be the template to use in beginning to understand futures trading. Interestingly, during the last year I decided to renew an interest in photography because of the advancements in digital cameras. In the process, I learned that my old lenses could still be used with the current Pentax SLRs but that there are some very good bridge zooms that may suit better for their compactness and less money. Ultimately, my choice of camera would have to depend upon an understanding of my style of photography and thereafter, the best camera for that purpose - the FZ28. Only you know yourself best; thereafter you will need to determine which instrument suits the manner(trading) of your approach.
Why don't pharmaceutical companies share their formulas and patents? Why don't top baseball coaches tell the opposition their strategies and gameplan before a big match? Why don't poker players tell you when they bluff and when they have a real hand? Trading is a competitive field, genuine edges are hard to find, highly lucrative, and EXTREMELY vulnerable to competition. I have seen many, many good strategies eventually fade away due to excessive competition. Why on earth would a professional trader invite competition and thus lower his future returns? Trading is not photography, or any other regular profession where co-operation benefits both parties. It is a cut-throat competitive arena, where one person getting better is usually at the expense of someone else losing their privileged position. That's why people are reluctant to share genuine edges. As for some of your other comments, there are many pieces of valuable advice posted. "Indicators are rubbish" is an extremely valuable piece of advice, which if listened to, would save most novices years of wasted time and market losses.
Do you say that if you share anything with anybody else, this will change the market? Do you believe that a single person can do anything that can change the market? Do you believe that your knowledge can be so powerful? What a BS!
YES for all above. plus-it's depends on market. i day trade stocks for almost a decade and can assure you, that getting into winning trade is f* hard. tell you more-i have bunch of systems,where on paper and back tests i have six figures a year easy. not so in real life. 100K on paper turns out 10-15K in real profits. ALL DUE to execution and competition. now if i invite some "friends" to trade same thing, i'm absolutely certain, that my profits will shrink even more. happens before with me.
duckling was kind of rambling this time, his better post, same theme http://elitetrader.com/vb/showthread.php?s=&postid=786685#post786685
That is wrong for a start and I will let you into a secret, a very deep deep secret. Here goes No good Trader cares about another Trader's mistakes nor why another Trader is on the opposite side. Who cares. All a good Trader cares about is getting a good fill in and out, where his/herstops are placed and the direction of this trade. Can't be more open than that, now can I.
I don't believe it, I know it - because I have seen it happen and in some cases made it happen. You, obviously, have not.
your observations are correct with a few exceptions, most people on here are jerks, who have nothing to offer, and wouldn't share it if they did read this thread of responses to you, and I think you'll agree the most common post on here is a loser making a smart aleck remark, with a 'grin' smiley, or a 'shades' smiley if they feel bleating a platitude makes them profound
the best advice i have seen to date ... 1) JUST TRADE 2) You can't predict 3) Don't quit your day job
Most people on here are losers. The good traders will help you, and will probably tell you that indicators aren't too important, you should focus on price, support, and resistance. And that trading has to be learned by experience. So open up some charts and time and sales, watch price action, and watch support and resistance. You will learn how to trade eventually. I have PM ed some of the big shots on here a few times with a question or 2 and they have been very nice to me.