I don't need to see any more of this thread other than the title. Richard Dennis said that you could publish the rules of a proven system in the Wall Street Journal (I capitalize under protest) and most people would find a way to f.... it up (paraphrazing) You new bastards, look at some of the guys on this board -- Lescor, Chauncey, PatrickQ....., look at their P&L Do you really think they give a shit about the info others are sharing on this board.? It doesn't matter, and it shouldn't matter to you. There are no secrets. Everyone has the same info. Have fun learning and be willing to get your ass kicked again, and again, and again, and again. Oh, and by the way, you can't give a shit about what your friends and family think about your endeavor. Have fun.
Oh dear, another arb strategy "exposed" to the general public. http://www.elitetrader.com/vb/showthread.php?threadid=86708 Well the question is, can you make it work?
I completely agree. True. However, the problem is that everyone don't process nor use the same info the same way. That's where profitable traders begin to separate themselves from losing traders. They are not processing the same info the same way as a losing trader. Recently I seen some ET members post a chart...some charts are just price action and nothing else. Other charts may have an indicator or two on it. Then the ET member ask for opinions about the expected price direction. The opinions are different while the chart remains the same. This holds true to most trade methodologies and guys like no_pm threads here at ET is a perfect example. Share the method and the thread quickly develops into the following: * My data provider doesn't have the indicator and I'm using a substitute. * I'm going to change the indicator setting. * I'm going to add a moving average to the indicator. * I'm going to change the exit rules. * I'm going to apply it to a different trading instrument. * I entered too late, I exited too early, I didn't take the trade, my data vendor doesn't have that particular setting... I can go on and on. If you share your profitable strategy for whatever reasons...the odds that a mass number of traders or a few with positions large enough to cause you profit problems are remote. If you choose not to share your method for whatever reasons... That's cool too. There are advantages and disadvantages to sharing a method. Which one outweighs the other is trader needs specific. Yet, I do see a possible problem with telling a mass number of people in realtime when you are going to enter a trade (signal calling chat rooms). That's where I think an edge can be lost if enough people are involved and know in realtime when your going to do something especially if your trying to move some size. Mark (a.k.a. NihabaAshi) Japanese Candlestick term
That's why the hypochondriac guy tried for years, but could yet learnt the choco method. Because he kept on adding his own interpretation and "enhancements".
I am very relieved to read the posts here about how it's not such a bad thing to reveal any strategy! I had thought I might have shot myself in the foot, but I can concur with the thoughts on here, especially that most folks would screw up a free lunch! So, again. Thank you! I feel much better about things now. peace.
A little crude, but I like some of what you've said....remember the head trader i mentioned in my anecdote? After I joined up with these guys, I was describing (with great enthusiam) how impressed I was with him (and several of his other traders) to some close friends and family. It was my best friend that didn't believe much of what I said, that because he didn't personally know anyother traders, it couldn't be possible that one person could make in a day what most people make in a year. It's this closed-mindset that limits a lot of people from being successful.... And how many posts does this trader make on this forum? 0
Yes, a bit crude. Sorry. I really shouldn't post after watching college ball at the bar. But it still goes.
Anyone who thinks that giving away their "edge" will reduce their individual profitability: a) is paranoid or delusional b) does not understand how markets work Sure, if we all jumped into the sea at around the same time the tide would rise imperceptibly and we'd all be floating around out there experiencing different things. Some may learn to surf, others would drown. The sea wouldn't even notice.