The sharing/not sharing dilemma | Traders Hideout


futures.io - futures trading strategies, market news, trading charts and platforms


Traders Hideout


Discuss day trading practices and futures trading strategies on this forum for all markets. This forum is also for discussing and reviews for brokers, data feeds, and commercial or third party add-ons




 

The sharing/not sharing dilemma

  #4 (permalink)

 Vendor: www.jigsawtrading.com 
Bangkok
 
Trading Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker/Data: AMP, S5, IB
Favorite Futures: ES
 
Jigsaw Trading's Avatar
 
Posts: 2,917 since Nov 2010
Thanks: 805 given, 10,078 received


xplorer View Post
Quoting Hulk from another thread, and I wanted to open up this up for discussion.


Personally I believe in Hulk's first statement



But I'd like to bounce off a few thoughts on the second one



While trading is certainly one of the most competitive activities, I do wonder if nobody really shares their primary money-making methodology.
  • For instance, I do remember John Grady saying something like "hell, if I had other 1,000 traders have my same idea, we would be able to push the market higher/lower" type-thing. His logic would thus be "sharing is in my interest"

  • I also think that there may be people who perhaps are already wealthy and, while their trading methodology further adds to their wealth, they do not mind sharing what they do because they don't need to live off it, on a basis not too distant from someone giving some of their money to charity

  • There's also a psychological component to some, which may be rooted in self-affirmation, self-validation, higher status among a similar group of peers, filling a void of some kind, or simply meeting a mental need, whatever that may be. At the end of the day, if nobody ever did anything for free, there would be no volunteers


Note: With the above I'm not suggesting that trading is a 'gentlemen's club' (credit: @DionysusToast) where everyone is nice to each other. If I had the capital and skills to trap other traders and make money in the process I would not hesitate myself. But my contention is that there must be a percentage of people, however tiny, that don't mind sharing.



So I'd be interested to hear your views. Do you think that nobody truly shares what they do, or do you think that some do?


EDIT: To clarify, for those who haven't read Surviving Day Trading, DionysusToast does not believe trading is a gentlemen's club either

My take on this is fairly simple - you can lead a horse to water but you can't tell him when to buy and sell

Show a trader how to make money and they'll say "that looks a bit complicated, I think I'll look for something simpler".

My exposure to the prop world is one where an decent traders teach interns. Interns mayl see a superstar trader in the shop but until they "pay their dues", those great traders wont help them out. If they are still around after 18-24 months, they might find that the trader they aspire to be like is helping them out a bit more. It's not snobbishness - it's just a matter of seeing a lot of people come & go.

In other words - in professional trading, the baseline is that someone who knows how to profit will teach you - they may not be the best trader in the shop - but they can teach you how to trade - even then 80% of those aspiring traders will fail.

It's like any sport - you might be taught by a coach that was good in his prime but not a world pro. It's still down to you whether you actually make anything of it & even then a lot of it is about whether you were born a certain way or not.

The problem in the retail world is that there's too many people that don't know how to trade that are teaching people how to trade. That muddies the water somewhat and horses never drink muddy water...

If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
Visit my futures io Trade Journal Reply With Quote
The following 11 users say Thank You to Jigsaw Trading for this post: