The secret to win is knowing how to hide your method.
This is a very interesting statement. One that I’ve thought about and still think about today. On one hand intrinsically what you say feels right. That if you are profitable, why would you share this, why would you tell others of how you trade. Would you lose your edge if you told too many people and they traded like you? Logically, the answer is no because it’s a massive market and most people only have a few 1000, that’s not going to affect the price at all.
On the flip side, for you to be right and price to move in your favour you need people to think like you and then buy or sell after you to push price in your favour. But retail would not be able to push the price. It’s not like penny stocks where you and your subscribers can push the price up.
Having said that, every strategy and system is already out there in books or online. There may be a more complicated way of trading the way you do and a more simpler. For example you may trade break and retest with an ema. Someone’s trading it without the ema and someone else trades with ema and fib. Theres nothing to hide, it’s been around for ages.
Damn right! It has been around for ages and many people are also using same strategy you are using. No strategy is unique in Forex.
Lol yeah i reckon someone is probably using a simplified version of what I do. Maybe someone who reads price action well. My chart is full of technical indicators to make it easier for me to see what price is doing.
This is just superstitious nonsense.
Well, it seems to me that the most important thing is, of course, to stick to the chosen strategy and risk management in all circumstances.
It’s complicated, but it always helps. Especially in the early stages of your career, when you haven’t yet chosen your own path…
Like I said, there is an holy grail out there, whether you believe it or not and the person that posses it is taking it to the grave or probably passing it on to his first son.
I too have thought about this and come to the conclusion that no matter how much you teach a new system the majority of those you teach will still mess it up.
In fact I have detailed some of my most effective strategies on my blog for free. Yet I’m certain a majority will look at them and think - ‘nah it can’t be that simple’
Or there psychology just gets in the way of following the rules.
As beginners we literally have blinkers on and our biases effect all we do. So while an experienced trader can look at one chart and see an obvious entry the beginner or losing trader is running through a whole load of mental scenarios that clouds judgement.
There are a huge number of different strategies and approaches on the market, and they can change depending on your mood, your training and many other points. So it seems to me that the most important thing is to keep your interest and motivation. It’s always a useful thing.