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It is said "Those who can, do; those who can't, teach"
Mod. edit: please go to this post for this thread's OP. These are posts moved from another topic.
This is the real context that needs to be considered ( why would any educator , software developer , or trader room instructor be teaching others their edage in trading , if they were any good at it ? Would they not be working for Goldman Sacs or just add on 10 contracts ? Why would they even want to hold the hands of new traders that are crapping in their pants ? They just repackage what they were sold , and make the concepts look much better . They just teach the same old stuff that has been around for ever , with a new modern spin that looks like the Grail to struggling traders . ) They can not use the things they learned from trading to do any , so why not sell that to someone else that does not know any better . That is the bottom line , its that simple . hope it helps .
Because they can diversify their income streams and running a trading room or education service is less risky than adding 10 contracts and perhaps, they don't want to work for Goldman Sachs. Also because it compensates for the drawdowns that any system has.
There are 1000's of unethical and pretend educators and vendors out there, but that doesn't mean that it doesn't make sense for the ones with a real edge to teach it. If this is the logic, then why would anyone read a trading book, or even be on this forum for that matter if the assumption is that anyone know something valuable, will not share it?
I agree , just do not pay thousands for it . It is unlikley what their sharing will make as much difference as experance built over time . how many trade educators have you seen , show their domes while swinging size in real time ? I never seen one , if you ever do post it . I am not even saying there education has no value , i am saying they do not trade , there teachers . ask for prof they can do it at a profit , you will not get any . reading books and watching utube is a smart way to learn about markets and trading .
No one with a real consistent edge will share it. That being said some people will sometimes share useful info that will help traders avoid big drawdowns and will help you gain some market clarity.
Some vendors help traders build a robust trading process. However if you are looking for trade setups with consistently good risk adjusted returns you can forget about buying something that gives you that.
Let me add that no two people are going to apply the same method the same way anyway, even if they are not affected by the usual emotional and personal factors of trading, which most (all) of us are to some extent. There's the simple fact that two people will see opportunities differently and will apply the system differently.
So even if a vendor actually has a good, profitable system (which is obviously going to be rare), and even if they are willing to sell it to someone when, if it's any good, they have an incentive not to, I don't think they can sell success with the system, because the mindset and personal psychology of the trader is as important as, or more important than, the system they are using. The same is true even with a 100% automated system -- what does the trader do when the system has a drawdown, which it will? The same personal judgment issues arise then.
Long story short, see if someone can teach you something, but don't expect to buy success. It is not for sale.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Actually, that is not totally true.
There are a few (VERY FEW) traders that are successful and share their systems.
I used to think that there were none, but I found someone that actually does share their method and teaches it for the amazing price of FREE. I was blown away...
Of course, the majority only prey on traders that are desperate for a system and charge for Krap.
I have my own edge but enjoy watching and trying new methods that work.
In this day of everyone keeping things private or trying to sell snake oil,
it was great to find someone that would share their method freely and answer questions to teach others to help them be successful.
Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
who knows? We have never seen a day trader post a profitable 3rd party verified track record like we have with a few retail swing traders.
It's possible that there are a few successful retail day traders that only share their info with a select few to keep their edge sharp.
Just a guess as we have never seen any proof.
