Good Day Guys
I am quite new to forex, so forgive my ignorance. But here goes…
Is there a downside to sharing your trading strategy with everyone?
Strange question to ask, but I haven’t been able to find an answer anywhere.
Sabre
Here’s my 2 cents
I guess it could be summed up as your personal status:
You admit your new Status “New” - share all and everything you can think of - because you are learning.
Status “Break even trader” you still haven’t quite got into profit but what you’re doing seems to make sense - share if you want to and maybe learn some more.
Status “Making profit” - when you get to this point - I may assume you’ve put in tons of hours and study and money and a bunch of other stuff - -
now do you want to share – that’s up to you - - but I believe that even if you share a detailed strategy - that you understand - others without the same level of study - just won’t get it.
The only downside I’ve ever heard of- - and this could very well be a false interpretation.
If you’ve got a super winning strat - and all of a sudden EVERYONE starts using it - - it’s likely to start failing?
[QUOTE=]The only downside I’ve ever heard of- - and this could very well be a false interpretation.
If you’ve got a super winning strat - and all of a sudden EVERYONE starts using it - - it’s likely to start failing?[/QUOTE]
I have heard the same thing, but I don’t understand the fundamentals behind it…
Consider arbitrage. It is impossible for retail traders to make a profit arbitraging Forex anymore. There are way too many bots hunting for arbitrage opportunities, running out of banks with fast access and low transaction costs. They are competing with each other for literal cents on every trade.
The [B]only[/B] way to beat the market consistently is to exploit a pricing inefficiency. As much as the salesmen all over this forum would like you to believe, their systems of price action candlesticks or lagging indicators do not demonstrate exploitable pricing inefficiencies.
The very act of exploiting an inefficiency corrects it. Since there is always somebody willing to settle for less than you are, once an exploitable market phenomenon gets out it quickly becomes inaccessible to those without fast execution or super low spreads.
I’d like you to look around this forum for proof of a consistently profitable Forex trader. I guarantee you will not find any evidence of such, only e-stats and anecdotes.
Hi Jad, I disagree that they are no profitable traders… Besides myself of course (avoiding the anecdote part) Anna Coulling is a successful trader with no training at all and you are welcome to google her achievements, she actually went to trading to change her life but was also willing to invest in her own education as she realized she was a simple trader. Now she lives in nice part of London, does not sell strategies or organize seminars she simply just trades, now sh e trades commodities as well as stocks.
My point is, like everything in life (not just FX) 54% will fail, 40% will just get by or persist and 6% will succeed. So if you consider that most of us are floating between failure and mediocre in all things in life not just FX. The ones who succeed normally don’t care about the others. Note the successes are not your so called banks because their business is with primary markets, hedgefunds are usually successful traders like Paul Tudor Jones who now have loads invested (note all these guys were once like you) in the markets and can now ultimately buy information. What separates them from you is their lack of negativity and their profound belief in themselves.
My guess is you are European it is said that us in Europe tend to be more pessimistic than our American counterparts, a combination of the poor weather and consistent wars in Europe for the last century and half. Sorry it always gets me when people come around a forum called Babypips and then say they are looking for successes. Everyone here has been trading under 5 years, I personally have been trading for about the same length of time and I have finance qualification. Took me the 2 years to actual arrive at 70% win to loss ratio another 1 year to get my risk profile organized. I wonder how long you have traded for?
Anyway, I think you shouldn’t make such general statements. All secondary markets are exploitive by nature. It is the reason why in business everyone wants to bypass the middlemen. The only winner is the manufacturer. We see this when we look at the Chinese/Western relationship, financial markets between banks and the customer and so on… Does this mean that the West doesn’t make money or that you can’t profit from a property purchased on a Mortgage?
I don’t really think it’s pertinent to use investors like Jones for an example. He admitted himself that 95% of his profits in his trading days came from 5% of his trades. So was it skill, or did he just hit a few black swans during his speculation days?
I think there’s something to be said for why the Forbes 400 is filled with investors, yet not a trader to be seen.
I have browsed this forum and many others. And seen zero evidence of successful traders who manage to keep it up for more than a couple years on any of them. Does that mean they don’t exist? No, of course not. But clearly these are not the right places for anybody to find advice, because there is no evidence that anybody giving advice here actually knows what they are doing.
I will echoed what emeraldoc said above. Majority of members on here are only been trading for less than 5 years. Within those years, either you are in a survival, breakeven, or if lucky enough, seeing some profits. So you cant really find what the “proof” of evidence that you are looking for unless you are referring into someone else. When I first join these forum, " proof" of evidence is not even accord into my mind. I am so determined and wanting to learn these trading on my own. I am fortunate enough that I was able to pick little pieces here and there with those " free" strategies that some of our members been posting on here. I test them, I disregard most of them, until I have found what works for me.
In trading, you have to think independently. You are freely to choose what strategies will work for you or which one it doesn’t and you can find some of it here or from other websites.To find success in these business ,is you have to have some level of " intellectual maturity" in which I have found and observed most on here are lacking and most of the time are base on there ages. The young once are so ego driven in which what kills them the most. Intellectual maturity it comes with life experiences and again most of the young once are lacking. You can track them base on there posts and think that they are better than anyone one else. Sometimes post like these is not even for “trading” subjects even if they tried to explain it that way.It is about I am better than you kinda sort of thing and snipping around forums who has a better record than I am, is just an example.
There are so many ways you can make money in trading. There is no right or wrong strategies that you should or you should not use. Bottom line is at the end of the month or in a year, did you come out positive or negative? Do you need to change your strategy and where you can improved more? I am an optimistic person every since and that’s what it had help me with my career/life where I am today. Any pessimistic posts is not my interest because it doesn’t help my personal goal…and I tried my best to change that negativity around into a positive and hopeful once…it’s a character building. These is my opinion of course 
Sorry emeraldorc, are you blind , or a naiv american!!! You dont see where Anna Coulling fraud the money out of you wallet …!!!
Forex is chaos, but with the proper knowledge and training, one can find order inside the chaotic mess. There’s a reason why there are a multitudinous array of platforms, brokers, forums, etc; because it works. If forex was a huge scam that sucked up 90%+ of the incoming traders, it would’ve died out long ago.
With that in mind, Forex looks very attractive because of it’s “easy” mechanics of making money: buy low, sell high, many people oversee the dedication, patience, and training needed for a consistent profit. And also, there are literally hundreds of scams who are selling winning strategies, bots, training lessons, etc, that kinda makes this market sketchy…
Forex is a possible, NOT easy way to make a living for oneself.
OT with OP, With the current profitable traders, I feel like they aren’t hiding their “holy grail” purposely. Instead they probably seldom shadow the forums but spend most of their times backtesting, journaling, etc. I would assume successful traders spend majority of the time on the charts instead of interacting in the forums where the users could range in experiences from 1 day to 5+ years of trading.
Kinda like the example, why are there no Rolls Royce Commercials on the television; because the people who could afford it are probably working, not watching televsion.
Wow! There is a lot of cynical people on here…
I’m not even going to address them because it’s pointless. They will try to convince you since they can’t do it, then obviously no one can, which is rubbish! :58:
The truth is people want to push some magic button and money will fall from the sky. News flash, that’s not real!
A few years back I taught a few friends how to trade, but they wanted the results and did not want to put in the work. So, I stopped teaching them, it was a waste of my time!
No matter what strategy you choose to follow you must put in the work to learn it…
Don’t be afraid to ask questions in the forums Sabre, it’s a mark of maturity. Just filter out all the nay sayers. :57:
When you have mastered trading or at least making profit on a consistent basis no one is gonna find you because the truth is you don’t want to be found. Isn’t that why we all strive to be profitable to buy more privacy? So keep being nosey neighbors and i’m sure you wont ever meet a consistent winning professional forex trader and if you do he’ll just tell you he’s a leper when asked what he does for a living.
I will ignore that as my handle clearly states London. Secondly, Anna defrauds me or no one, I have my own solid strategies I trade with and I am very happy with my trading and my brokers. Sorry it is not working out for you. I hope you can move on from it.
Rarely do people start as investors and most of my good friends who spend most of their days trading stocks and commodities (speculating) always take the so called investors cash and speculate it. I feel you just don’t have enough knowledge on these people. Please Google Warren Buffet and a few others and see how they started, even Charles Dow you will see all tried speculating and agree it is the best way to earn income and investing only suits those who don’t have the speculators temperament. In fact Dow says it was better than loosing it on speculating, this was in regards to most people’s lack of knowledge regarding tape reading.
We could go on all day but the City London was built by Bankers and Speculators, the most famous being Rothschild. Yes, Jones made millions from speculating wildly in bonds but it doesn’t matter if it was made in a day or years, it was made by speculating. Big risks, Big rewards…That’s why it can be a graveyard for many. What you do with that big win is what counts.
The Strangest Secret by Earl Nightingale - YouTube
This should hopefully put an end to this thread.
Immediately when I am faced with a negative person, I listen to this… I think you Jad and Co. should hopefully have an eye opener, if not then I hope one day they wake up and stop crushing other people’s determination to succeed in their mediocre slumber.
When I came to trading it was not to get rich it was to understand what makes everyone so crazy about markets. I immediately fell in love. My background played a major role. People come to asset speculation for various reasons and it eventually determines what they get out of it. However many come for the wrong reasons and it does not meet their expectations.
Well news flash!! Trading is the most difficult occupation known to man after prostitution both seem to be mistaken as an easy way to riches, however those that are good at it make a fortune. Just fact!
Emeraldorc
[B]It is not illegal to be a moron … daydreaming, unrealistic , disciple , blind follower or naive.
*Being a realist is associated with much negativity when talking about forex.[/B]
There are few professions like trading, where results can be measured as directly with 100% accuracy.
At the same time, there exists no statistics showing how much a retail forex trader in reality make .!!
Ironically enough, the only person that has a decent wage in forex business on this forum Mr.Janson, work for a broker who headhunter new trading aspirants,
Same person sitting at the numbers how many traders who have a decent salary over a 5 year period
[B]One must distinguish between decent wages and profitable …[/B]
[B]Some people claim 5% is profitable in forex, but how many people take out a decent wage!
*
*[/B]
The statistics will never Jason provide for the simple reason, there is a very low number.
Presumably view down to a thousandth of all retails traders in FXCM.
[U]This is probably the main reason that you can not find any forex forum on this planet that can display a verified statement over a 5 year period shows that a retail trader who earns a decent salary …[/U]
That’s all well and good, but that speech won’t help me fly if I flap my arms hard enough.
If the market is a random walk then all of the motivation in the world will not help anyone succeed and turn a profit. As far as I am aware, nobody has been able to conclusively disprove Malkiel. If you had evidence that you were able to do so, I am sure there is a multi-million dollar grant sitting out there for you to continue your research…
[B] Anna Coulling a scammer or a cynical business lady who take advantages of ignorant traders !!
[/B]
The first impression is that she’s doing charity where she provides analysis, free live room she wish you a good financial life as herself … bla bla bla and more BS
[B]In fact it is a honey trap …
[/B]
The winner is Anna Coulling where her Web site offers a bunch of expensive indicators presentations hers is filled with indicators and, naturally enough, wants all trading aspirants to have the same indicators as Anne Coulling use, since she appears to be so successful rich … [B]What they do not realize is that it is the sale of indicators that gives her income. [/B]
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It’s at this point I sign off. Good luck folks!
"You can avoid reality, but you cannot avoid the consequences of avoiding reality .”
HAHAHA! Looks like I opened a can of worms here. Thanks for all the replies, my original questions were answered.
And especially thanks to the constructive answers…