What are your thoughts on sharing your systems or strategies with other traders? Is this beneficial, or counter-productive? If we consider that the vast majority of retail traders lose, the benefits of sharing your systems and receiving feedback / insight / improvements may be limited. Additionally, you forfeit the option of monetising your system and selling it. Or do you prefer to keep your trade secrets close to your chest?
I guess it depends on your priority. If you’d really like to make money then I guess monetising the system or not sharing it at all would be a good strategy. But if your system works with self-fulfilling prophecy-type of signals or if you’d just like someone to talk to, then sharing it would be more beneficial 
The best reason for sharing and repeating your strategies, trade method , trade rules, money management etc. is the more times you repeat it, the better you retain and apply it. It’s good that traders fail because they don’t want to learn, practice and apply the things successful traders do. The more new traders that ask you the same question over and over the more times you have to repeat the same answer. It’s win-win. You’re giving back and helping new traders, as well reinforcing what the successful things you learn.
This is no disrespect to you but one of the funniest things I have ever heard is " I don’t want to give away my trading strategies cause I might want to sell them some day." Whether someone’s strategies work or don’t work it doesn’t matter there are always people will buy them. When you sell anything there are two kinds of people that will buy. 1. people that have made a buying decision on facts, options and picking the least of the evils. 2. people that are looking for a short cut to success with your product without doing any of the work. For example look at signal providers. Some are good, but there are bad ones that have been in business for a long time. There are reasons for using a signal provider such as confirming your trade thoughts or expanding the number of currency pairs you trade, etc. But not wanting to do the work yourself should not be one of the reasons you buy. The best example of course is trading systems for sale. Plan A which states 100% accuracy, how to build $500 into 5 million in 5 months just 5 hours a week. I know you wouldn’t buy that, but you also know the majority of traders who lose would. Good topic
Gp
+1 to gp here…
Interacting on a forum is a massive, massive learning tool for all parties involved.
Just like he was saying- by constantly helping out newer folks, you’re drilling the basics into your head over and over.
Honestly, when you’ve been trading for a while and see a newcommer make a post about a mistake they made, it helps those who are a bit more experienced to remember NOT to make the same mistake…lol.
I feel that we’re all vulnerable as humans, and the ego can step in leading us to act in autopilot mode @ times, thinking we “know everything”. Well, that’s the most dangerous time to be trading. I feel you always need to be on your toes, constantly aware of the fact that you’re the small fish in the big pond, at the bottom of the food chain. Be humble and realistic about your returns, and you can exist as a trader just like those little feeder fish who clean great white sharks and have a mutually beneficial relationship with one another. Respect the process, and you’ll come out the other end alive.
I enjoy sharing everything I know about being a profitable trader with anyone who cares to listen. Trading is a passion for me I can talk about it nonstop. As already stated the more I talk about what I do the more it in grains what I do into my head. Similar to a drill instructor in the military making the recruits to the same drills over and over until what they do become second nature. Everything I do is on my website step-by-step I don’t keep any secrets . I don’t find this to be counterproductive at all because it would be the quote want of a pro golfer telling you how to swing a golf club and then most amateurs picking up the golf club and slicing the ball out into the rough. The basic methods I use I learned from someone else that I didn’t become real profitable until I molded their system to meet my personality. Just like my golf swing it’s ugly but it works for me. The only time I find anything counterproductive is when you run into those people that are hateful and naysayers which tend to make for distractions. So now I just refuse to acknowledge those personalities altogether.
Well, my system may not work for them and others’ systems may not work for me. Even if we selected one we may need to do some changes. Yet the results may not be similar
Yes sharing our strategy may be helpful to others but I think we should not copy others strategy and should make our own strategy to implement in Forex.
“Can trading skills be taught?
Only to a limited extent. Over the years, I have tried to train perhaps thirty people, and only four or five of those have turned out to be good traders.” Bruce Kovner.
There is a precedent, we are not the first to share any system, and as I see, there is no danger. There is a big chance someone has something better. It is funny how big guys occasionally register to BP just to say hi and throw a bone at the table (see shaneyg)
I think they have online courses or DVDs that they want to sell ultimately. Building trust through sharing strategy…