Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I had same thought - if I were to educate on my entries, there are chances I might not get filled at my price, now that my 'students' also know the exact spots.
I actually think that this would not be a big problem. Why? Traders, most of them at least, basically never follow any rules they say they are going to, and they wouldn't follow yours either. They would, for the most part, ignore your system, no matter how much they had paid for it, and do whatever they were going to anyway. (I am actually serious about this, having followed traders' posts in this forum for a good many years now.)
They would, of course, blame you for their losses and go looking for another guru, whose system they would also not follow.
The way I interpret @SMCJB's remark is that the edge would likely make me more than the fees, so why bother? Which I agree with.
I would also say that, for me, marketing and selling and writing and servicing customers is hard work, and I don't want to do it anyway. But if you were more a natural salesman than a trader, then maybe you would like selling more than trading. People are different.
I think that usually it is a good idea to be skeptical of anyone's claims about their "edge", of course, since it is easier to make claims about trading and sell stuff about trading, than it is to trade.
As for me personally, I don't want to sell for a living. So that's my answer to the question: no. Even if the fees were great: no.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
This recent Medium article had an interesting and somewhat comical look into a similar question: Why No One Teaches You How to Build a Profitable Trading Strategy
From the Article:
"Trading strategies that are actually profitable over time with little intervention are so absurdly specific, so obscenely hard to find, that it’d be ridiculous to give them away for free. Why would you do that after all the hard work you did to find it? You wouldn’t. That’s why no one talks about it. First of all, finding it is hard enough. Most people couldn’t talk about it even if they wanted to. And even if they did, there’s no way to tell people about it without giving it away.
Which creates an absolutely baffling phenomenon in the trading world. Everyone says they know more than you, but they won’t be caught dead proving it. Because profitable strategies are precious. Nearly impossible to find, and difficult to explain without giving it away entirely. I mean, I can try explaining mine: Just use the EMAs. See? That explains my profitable trading strategy. If I say any more, I’ll give the whole thing away. So how is that instruction useful? “Use the EMAs” is about as useful as “buy when you think it’s going up”. I guess that’s why no one teaches you to build a profitable trading strategy."
Although Entertaining, there is a lot wrong with this article.
I will agree that most do not give away their strategies, but to say "so obscenely hard to find" I have to laugh. Once you develop the process of finding edges, they become easier to find. I also find that if I look at bigger time frames first and then scale down it also helps. This method has also made me realize I prefer the longer term trades, although the shorter term can pound out quicker profits. The shorter the time frame, the more work babysitting.
My real good edges are actually a little harder to explain, so I could give a couple good hints and not give the whole thing away. The easier the process, usually the strategies are weaker and sometimes will altogether stop working.
I think most traders fail because they try and discretional trade or they get sucked into the scalping world.
For what I have found...With NQ anything higher than a average of 6 to 7 trades a day becomes increasingly difficult. Not so much to find, but to compete in.
You could equate it to screen time...The more screen time the more difficult/babysitting.
But all markets are some what different.
And yes, even automation requires babysitting.
Anyways...If Woody Fox can find good strategies, let me tell you, many people can. Its really about approach, understanding how the markets work, and what you actually expect to get out.
It might be helpful to others if you could devote a thread on the topic at some point, without either giving out things you don't want to or taking on too much for it to be rewarding to you.
It's at least a worthwhile topic. Probably there are as many opinions as there are traders, and of course no one is under any obligation to post anything, much less to divulge things they would rather not. It would also not be on topic for this thread. But it might be something to keep in mind, if it appealed to you at some point.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
