A New Traders Journey to Success

[Hlm 10]

...Why would a successful trader want to give up their edge for everyone else (like you and me) to copy?

Well, there are different degrees of information you can give away. Would I just give away the software and exact formulas that have taken a large amount of blood, sweat, and tears to create...absolutely not. However, in many cases I am willing to discuss much of the information I have learned over the years that were used in creating me, as a trader. In order to survive as a trader you must go through certain learning stages just as a baby/child does. However, this doesn't mean you can't be helped and coached along the way. Also, I have found that while helping a newer trader with certain steps, I sometimes learn something new about myself as a trader.

[Guest forsearch]

Would I just give away the software and exact formulas that have taken a large amount of blood, sweat, and tears to create...absolutely not.

 

Without disclosing trade secrets, what is so special about your software and formulae that can't be discovered independently by other traders?

 

Or rather, if you began to sell - or otherwise publicly reveal - your particular system and methodology, would that lessen your edge in the market to the point of unprofitability?

[Hlm 10]

...what is so special about your software and formulae that can't be discovered independently by other traders?

Absolutely nothing. It's not the information itself but how one analyzes and weights the probabilities to reach their goals. My system aims to simplify this process across multiple time frames and different instruments. The concepts I use are no secret. What motivation does one have to just giving away everything?

 

...if you began to sell - or otherwise publicly reveal - your particular system and methodology, would that lessen your edge in the market to the point of unprofitability?

I had originally written a long explanation to answer this question, but it started to sound like some kind of cheap advertisement (I am not selling anything). Put simply, it's a tool to simplify and easily quantitate methods many are already using (TPO and Volume MP). My guess is that it isn't extremely unique to what some funds may use. I am pretty sure it would not decrease my edge any. Unless a working system is fully automatic and can't be messed with, you could give it to retail traders and the majority of them will still find a way to lose money.

[Guest forsearch]

What motivation does one have to just giving away everything?

 

What gaineth a man who is given the fish versus one who is taught how to catch the fish himself? =)

 

I am pretty sure it would not decrease my edge any ... you could give it to retail traders and the majority of them will still find a way to lose money.

 

Unfortunately that's why 95% are said to be losers. They want the lazy man's way to riches.

[mister ed 10]

I know there are probably many great traders here who have probably shared what they do on a daily basis. Thank You!

 

gekko - what brownsfan, Hlm, forsearch and Torero have written above is food for thought, you really have to do the work yourself.

 

I have a suggestion that may speed the process, may be worth a try. There is a chat room here on TL and through the US trading day a lot of the traders on the site chat about trades they have just put on. Maybe it could be worthwhile following along in the chat room, taking note of what they are doing then matching up the entries and exits to their posts on the concepts they use to trade - it might help bring the posts to life and accelerate the learning process.

 

I haven't been in the chat room for a while (I have only been in there 3 times, I must admit I find the chat room distracts me too much from my own trading so I dont attend). From my 3 times in there I must point the finger at Hlm and walterw who were very active and forthcoming with what they were doing.

[BRichard 10]

Taking trades come naturally and you are able to get in and out at the precise price levels based on tape. Instead of having the markets take your stop out, you exit when you know you are wrong. You keep your head high but remain humble on the inside. You have now officially graduated the school of the hard knocks.,,,,I couldnt agree more. You have hit the nail on the head. Awesome research done there making it a great read.