Maybe this horse has been beaten enough... but just another short word:
People stealing indicators refers to a few people who downloaded indicators, mainly from the elite section, and relabeled them and sold them (or in some really bad cases, *leased* them on a monthly basis!) to those lost souls who are always looking for the magic way to get rich.
There are approximately 15 billion charts with indicators on futures.io (formerly BMT) (well, maybe not quite), and the get-rich-quick scammers are not going to spend their time trying to reverse-engineer the images when there are much easier pickings available, that do not involve any work (other than writing ad copy.)
I would also say that if anyone had someone else's exact system, with clear rules and everything, it is very unlikely that they would make any money with it, unless they spent a lot of time with it, made it their own, and probably changed it some to suit themselves. (I'm not talking about a pure algorithmic, fully automated system you just click and run.)
So I guess I just beat that horse more than it needed
Well said . When I read that people think that their method or proprietary indicators are an edge that others can reverse engineer or exploit, I just have to laugh. Look at the number of systems out there for sale at minimum costs or chat rooms with systems that in both cases hardly anyone can follow and make money using. Hardly anyone can duplicate any of the systems out there..
Unless someone is willing to do the work to understand the system, adapt it to their style and personality to make it their own, and test it rigorously to build confidence in it, their chances are virtually nil at exploiting the edge.
My experience is the most traders are very lazy and just want the indicators or setups and will not do any subsequent work with it. So I agree with you, there is nothing to worry about at all with anyone spending any time at all figuring out the system or edge... Remember .. 95% fail and most for a very good reason.. Laziness.
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Copyright, trademark... Meh... No reason to bother with that! I will probably just keep my methods to myself.
I kind of trade with a different mindset. People look at indicators and want signals. I look at indicators and see market motion and cycles. Then I position at different price levels for a set amounts of time and then the indicators tell me if the trade should be held, profits taken, or cut. If price isn't heading where it's supposed to be going, that's also another reason to cut the trade.
If price isn't doing what it's supposed to be doing, it's going to do the opposite! How's that for a vague statement?
I want to comment on your concept of so many people jumping on a "method" that it becomes useless. I would
think that a strict trading method would not work at times because markets are constantly in flux throughout the
year. If one were to wait long enough, the method would once again become valid for a while.
I find it difficult to believe that so many players would trade with / against a certain method that it would
actually change a market and / or make a method useless.
Now I speak of the equity index futures. Who knows what could drive instruments with little liquidity. That's why
it's safer to trade the large liquidity markets. They are too hard to manipulate.