You had 3 points in your reply and it is a long topic so I've picked one.
I wish you luck in trying to engage people in collaborative efforts.
People will help out others if it's simply answering a question that they know the answer to (or feel they do) and the other person doesn't.
Also people are very helpful by making indicators and posting them for free. This is very nice and generous and it is a huge investment of their time and energy and done with a good spirit. It cannot be understated.
(Perhaps reading the Quants will give insight to another point you raised.)
Good trading to everyone.
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I've shared a ton of information over the years but not my formula. I treat it as a business.
I felt the need to be validated when I was a losing trader. I wanted to be accepted as
a winning trader even though I was not one. I felt I had it in me and wanted others to see.
Once I made it to where I was actually winning over time, I no longer felt the need to talk about it.
As first yes, but as it's become more of a routine, no.
Strategy ≥ Money
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I have received probably as much as I shared. I have been participating on stock websites for about 5 or so years now. This site is different than the others. For lack of better words, the quality of participant is much higher here than on those other places.
In the beginning I was testing my charting skills and I found that I was unique on these sites. Most participants on these sites had little grasp of Technical Analysis with most promotion was basically pumping stocks to newbies and misrepresenting the charts that were shown. I would look at the charts of such stocks and would offer a counter opinion and eventually I started to get more and more requests for a chart reading as my TA improved. Because of these questions and examples I got better and better in my interpretation of stock charts to the point that the pumpers would get annoyed with me....and that became a crusade for a while...outing pump and dumps.
Though I have demonstrated my approach I doubt anyone has copied me totally. I have given a lot of details here and walk my talk with a demonstration portfolio that is performing quite well, but I have not had many ask any questions about how I do things....and I wonder about that. I welcome the questions as it causes me to revisit my approaches/assumptions and that improves my TA. I teach because there is no better way of educating yourself than to teach a subject.
In short, my method is successful for me and I would feel good if someone saw the benefits of my approach. It is not a holy grail magic indicator but rather a solving of a mystery...every company has a different set of circumstances and TA/FA information that goes with it. It takes time and practice to do what I do and not many are prepared to take that time. I also compound the difficulty by sticking to a long term trading approach which many see as a losing strategy and I am here to tell you it is not...not if you learn how to pick and monitor long term winners. Though I am NOW studying how to do short term swing trades. I will never be a day trader though.....too much work involved.
I don't keep it secret...in a way I suppose I am seeking validation in having someone appreciate what I do. There is probably too much truth in this last statement
The following 3 users say Thank You to Underexposed for this post:
Thanks all for sharing your viewpoints. When I stated these forums in my previous post I wasn't specifically referring to futures.io (formerly BMT), but more or less overall trading forums. futures.io (formerly BMT) is like a diamond in the rough, you have to dig dig dig to find the good stuff.
"Small disciplines repeated with consistency every day lead to great achievements gained slowly over time."
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It's an interesting duality when you're working at building a method to make you money in the markets and at the same time needing the comfort of others on the very same journey, as this profession can be a very lonely road.
I find that there is a never-ending trail of guys who love to talk in generalities about how to achieve success, but so few are actually interested in giving someone else anything tangible. I'm convinced that is due to there being more phony gurus than actual. They love hearing themselves talk and the e-worship from the struggling novice trader. But still, if it's more of a discretionary system (instead of automated or something that gives your levels) then I don't see the problem with in sharing something more specific in conversation. I've done that for almost 4 years now as my journey has been completely documented on a journal I keep on a different site.
At the end of the day, it's not the information - it's the person executing it. We are all so different across the mental spectrum because of our various relationships to money and risk that it explains the lack of success in this business.
If I found a map that was sure to lead me to Gold then I would say a word until I collected enough for me and my loved ones. After that I would share whatever is left for anyone who would go there and get their fill.
I don't believe a system would never lose its edge because of too may people using it. In reality even if an edge were successful the person using the edge may mess it up based on their mental framework.
But the thing about trading is that there is a lot of room for everyone. And there is no need to be stingy. No need at all.
I remember years back posting on some other forum my 'great' system I read about in a book...I wanted to give back as a newbie (even though I didn't think I was a newbie)....I was so offended when I posted it and they move it to beginners forum....
what??? that strategy isn't beginning traders level? It was advanced....there was a moving avg. crossover and everything....
wow! at least now I realize how dumb I actually was!
It's funny when people think they know something that they really don't...but you do.
My silly story aside, curiosity killed the cat....not generosity
2 Corinthians 9:6-12 ďEach one should give as you have decided in your heart. You should not be sad when you give, and you should not give because you feel forced to give.Ē
1 John 3:17-18 ď...We should love people not only with words and talk, but by our actions and true caring.Ē
how much better would the world be if everyone was generous instead of greedy? If you've traded any money live you already know what being motivated by greed can do to you.
...on the 'secretive' side.....You don't know what you.....don't know
...but if you did know what you....shouldn't know....then you're in the know.....
Statistics can play a part as well....which is just info.....
But this does bring about an interesting question imo.....
Is knowing some 'secretive' knowledge a major part of a great trader's edge or just a crutch?
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