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Big Mike Challenge 2 - Win a iPad 2
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Big Mike Challenge 2 - Win a iPad 2

  #31 (permalink)
Site Administrator
Manta, Ecuador
 
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Eric j View Post
Good thoughts . If you arent profitable thats no indication everything you learned could be wrong , so to speak . When one learns to be profitable you will see that "wrong" doesnt apply to trading like in other places in our lives . In trading it doesnt matter if youre wrong because whatever you did to be wrong could at some time prove you to be right . What does matter is that you operate in a consistent manner placing trades and managing them the same way every time . Its hard to be diciplined and consistent , believe me . Teaching a method or a way to look for trades that might constitute a viable edge is very different from teaching how to operate as a trader over the long haul in a diciplined manner .

Thanks Eric, I see we posted at the same time. I hope to see you participating in the contest.

Mike

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  #32 (permalink)
Elite Member
Duluth, Minnesota, United Stat
 
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Big Mike View Post
If you believe you have learned nothing, then I suppose you could teach what not to do.

But I find that unlikely. I'm sure you've learned something, so you should teach others what you've learned so far.

I am really surprised by the negative posts in this thread.

Mike

Sorry, I wasn't trying to be negative. I had just read the original post when it first came out and after digesting it for a couple days, that is what came out. I have learned that most of the time I would do best to keep quiet but sometimes I fall short of that goal...
Thanks,

You can get help from teachers, but you are going to have to learn a lot by yourself, sitting alone in a room.
Dr. Seuss
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  #33 (permalink)
Big game hunter
NY
 
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Big Mike View Post
Thanks Eric, I see we posted at the same time. I hope to see you participating in the contest.

Mike

Could be . Things start getting busy for me in june and dont want to start something I couldnt commit to 100% .

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  #34 (permalink)
Site Administrator
Manta, Ecuador
 
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Platform: My own custom solution
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JEHs View Post
Sorry, I wasn't trying to be negative. I had just read the original post when it first came out and after digesting it for a couple days, that is what came out. I have learned that most of the time I would do best to keep quiet but sometimes I fall short of that goal...
Thanks,

Nonsense, this is a discussion forum after all!

It's just that I get private messages all the time where people think they've got nothing to contribute. I say nonsense, I don't buy it. Just the fact that you think you have nothing to contribute means that others can relate to you right there, so it seems - so hopefully you'll find the courage to share your experience so far.

It doesn't matter if you want to teach us about how to detect double tops and double bottoms, how to draw trendlines, how to find ABC/1-2-3 patterns, how to trade with CCI, how to use a MACD, whatever. It's wide open, and I feel confident you've got something to teach us

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
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  #35 (permalink)
Elite Member
new york
 
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omaron View Post
No, you are wrong. All i said is based on my experience with online marketing, that has as many winners and losers as trading too. The same basic principles apply. Most people that make money keep their methods for themself; most "gurus" that sell software or courses are scammers and most beginners lose money.

I wish i had some trading method that i trust and be consistent with even in SIM, but i don't. I am trying to put together bits and info that is floating around, but without success. I am as interested as you to see more successful traders competing here.

I am sorry if i hijacked the thread and posted too much. I will wait silently to be proven wrong

I do not agree with you at all. Most people who make money keep the method to themselves is not because they don't want to share. The problem is, they cannot teach. The problem are two folds: 1) Not everyone can teach. 2) Not everyone is a good student. To teach someone, you must know how to teach and the person you are teaching must willing to learn. As a trader, your job is to trade, not to look for good students.

Why do you think Steven Schonfeld make so much money? Do you think he just keeps everything to himself? No, he teaches everything he knows to his traders and rewarding them handsomely for performance.

Trading and weight loss are the same. People want the easiest and the no-work (no loss) method so they can sit back to rip the reward. But as soon as the first draw down or plateau (in weight loss) came, they gave up and look for the next magic formula.

I can say everything need to know about trading are freely available in the internet or you can buy from your bookstore. Trading is a trail and error sport that you must go through to "get it". Everyone is different in this process. Took Nicolas Darvas (How I made $2 millions) 1 bull market. On the other day, it took Gary Smith (How I Trade for a living) 20 years.

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  #36 (permalink)
Membership Temporarily Revoked
NYC
 
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Big Mike View Post
I've noticed over 500 members have viewed this thread, but only 5 have thanked the first post -- 1% -- if you guys have input on how to improve the contest, please let me know.

Mike

It is a wonderful idea but I don't think you gave enough notice. I would basically have to think of what to do this holiday weekend and have never put much thought into teaching other people.
I hate reading bad trading stuff to the point I would not want to add to it unless I knew I had a good idea that could be presented.

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  #37 (permalink)
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JEHs View Post
If I am not a profitable trader.
Possibly I am missing the point.

might i suggest a book Marcel Link's High_Probability_Trading

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  #38 (permalink)
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Big Mike View Post
I am really surprised by the negative posts in this thread.

well i think it is understandable as i believe forums are a place for those seeking to learn, and those that are learning have no confidence that what they know is worth teaching, but any teacher knows you have not really learned until you have taught. they is something about that process of internalizing information that is rather enlightening for the teacher.

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  #39 (permalink)
Membership Temporarily Revoked
Europe
 
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cw30000 View Post
I do not agree with you at all. Most people who make money keep the method to themselves is not because they don't want to share. The problem is, they cannot teach. The problem are two folds: 1) Not everyone can teach. 2) Not everyone is a good student. To teach someone, you must know how to teach and the person you are teaching must willing to learn. As a trader, your job is to trade, not to look for good students.

This is not just about good teachers or good students (I think this forum is full of eager students anyway). This is mainly about sharing a money making method.

Imagine that back in the "gold rush" times some1 found a good spot, with lot of gold. How easy would it be to share that information? It does not need teaching skills or good students (anyone can dig). All he has to say is "come here, there is lot of gold". Will he do that? Or will he do the best to keep that place secret?

Any kind of system/method/source that makes money will be used by the one that knows/owes it to make him more money. Specially when sharing it cause him troubles and/or frustration (as you said, a trader has better things to do)


cw30000 View Post
Why do you think Steven Schonfeld make so much money? Do you think he just keeps everything to himself? No, he teaches everything he knows to his traders and rewarding them handsomely for performance.

From what i know Steven Schonfeld does not teach anyone anything for free. He has some traders that he works with, but there is a mutual benefit. The traders make him money too. Is not like he is spending time to teach them without having something to earn in the process.



cw30000 View Post
I can say everything need to know about trading are freely available in the internet or you can buy from your bookstore. Trading is a trail and error sport that you must go through to "get it". Everyone is different in this process. Took Nicolas Darvas (How I made $2 millions) 1 bull market. On the other day, it took Gary Smith (How I Trade for a living) 20 years.

These days you can find information about anything, from trading to bomb making. For example you can find many books and videos about tennis. But is unlikely for some1 to become a top player just by reading books, looking at videos and training himself. The problem with trading is also that you may not have a second chance. Lose all your savings and your "trial and error" journey is over. I don't say is impossible, but it may take way more time to do that by yourself thought trial and error then if you had some1 to guide you.

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  #40 (permalink)
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Big Mike View Post

I am really surprised by the negative posts in this thread.

Mike

I'm surprised as well.

After all, as many disclaimers say, this is for educational purposes only. It doesn't mean that anyone trying to learn or educate themselves on somebody else's strategy will have to go and trade the strategy immediately. Every trader has to do their "due diligence" (so to speak) before deciding whether they will adopt the strategy or not, regardless of if it is found at a forum or if money was paid for it. Sometimes a strategy does not fit well with one's trading style or account size.

I think the point is to lay your strategy out there and answer questions about it, so people following the thread can decide if they want to implement the strategy or not. They can always paper trade for a couple of months before deciding if they will adopt it or not.

Personally, I would find it interesting to learn about other people's strategies, and think this is a good idea. Like someone stated previously, it will also help the person teaching the strategy as one can learn a lot from teaching others.

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