I have been searching famous professional traders’ trading methods.
However, some of their experiences are on the book but I couldn’t find their exact trading methods.
Can you tell me why?
If you have a very good trading strategy, would you share it with other people?
If you do, why famous professionals don’t?
You will not suffer any harm if you publish your strategy. In forex, nobody has enough money to manipulate the market just to get your personal capital.
Its your decision whether you wish to post a strategy - this will help some other traders but they have not done as much work as you on it and they have not helped you so there’s no obligation. Some of them won’t be able to make it work - we can say that’s because trading has an element of art, its not an exact science.
Note that if you post your strategy, some traders will come back with helpful suggestions and criticisms - this might make it stronger.
In my opinion, famous traders might give a few glimpses and tell you alot about basic trading principles (the sort of thing we talk about on babypips), but they’re not going to give away their edge cos they’re too scared of other people using it (if they really are that successful). If they are not actually that successful (another reason why they might not want to give too much away) then they don’t really have an edge to divulge and share. People in the business of making big money in a zero sum game tend not to lean towards altruism.
Your methodology is eventually going to be a unique reflection of YOU as a trader.
Even if I told you exactly when/what/how much to trade. You are still the one in control of the trade, the implementation, execution, the sell/close.
Learning how to trade is the most important thing, than what people trade.
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If 10 people were given exact instructions on how to trade, including entry and exit criteria, they would still get different results. That’s exactly what happened with the turtle traders. A strategy is not only about how good the rules are, it’s about how well you follow them. The turtles that didn’t make it didn’t follow the rules, because things didn’t go their way and they got out even though the rules didn’t say they should yet.
Also - a succesful trader will have spent a long time in front of the charts and he will have aquired a “feel or
gut feeling” for the market, and these , when he looks at a present day chart, will affect their
decision on wether to make a trade. What set up works today - tomorrow his “gut feeling” will make him /her decide not to place a trade. This “gut feel” for the market can only be gotten through time and effort in front of the charts, it cannot be written down.
Yeah, there’s some monster sized 3,000+ page threads on forexfactory about that group iirc.
Exactly, good example was this past Friday I was watching a pair, and could see it dropping some right before NY open.
But I knew from experience the “time in the tape”, that based on how the impulse wave of the candles were moving and reacting, and how the market reacted and the bottom wicks were stacking up, that it was setting up for a reversal.
The truth is that most people don’t write books if they can make money from trading。
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Most successful traders are willing to share some information about their trading strategy, but they tend to keep it under wraps. A successful trading strategy is the result of a number of failures and victories in the trading.
any kind of trading strategy can be useless if there is no perfect money management.
Some traders share for a price others don’t