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Sorry, I wasn't trying to be negative. I had just read the original post when it first came out and after digesting it for a couple days, that is what came out. I have learned that most of the time I would do best to keep quiet but sometimes I fall short of that goal...
Thanks,
You can get help from teachers, but you are going to have to learn a lot by yourself, sitting alone in a room.
Dr. Seuss
It's just that I get private messages all the time where people think they've got nothing to contribute. I say nonsense, I don't buy it. Just the fact that you think you have nothing to contribute means that others can relate to you right there, so it seems - so hopefully you'll find the courage to share your experience so far.
It doesn't matter if you want to teach us about how to detect double tops and double bottoms, how to draw trendlines, how to find ABC/1-2-3 patterns, how to trade with CCI, how to use a MACD, whatever. It's wide open, and I feel confident you've got something to teach us
I do not agree with you at all. Most people who make money keep the method to themselves is not because they don't want to share. The problem is, they cannot teach. The problem are two folds: 1) Not everyone can teach. 2) Not everyone is a good student. To teach someone, you must know how to teach and the person you are teaching must willing to learn. As a trader, your job is to trade, not to look for good students.
Why do you think Steven Schonfeld make so much money? Do you think he just keeps everything to himself? No, he teaches everything he knows to his traders and rewarding them handsomely for performance.
Trading and weight loss are the same. People want the easiest and the no-work (no loss) method so they can sit back to rip the reward. But as soon as the first draw down or plateau (in weight loss) came, they gave up and look for the next magic formula.
I can say everything need to know about trading are freely available in the internet or you can buy from your bookstore. Trading is a trail and error sport that you must go through to "get it". Everyone is different in this process. Took Nicolas Darvas (How I made $2 millions) 1 bull market. On the other day, it took Gary Smith (How I Trade for a living) 20 years.
It is a wonderful idea but I don't think you gave enough notice. I would basically have to think of what to do this holiday weekend and have never put much thought into teaching other people.
I hate reading bad trading stuff to the point I would not want to add to it unless I knew I had a good idea that could be presented.
well i think it is understandable as i believe forums are a place for those seeking to learn, and those that are learning have no confidence that what they know is worth teaching, but any teacher knows you have not really learned until you have taught. they is something about that process of internalizing information that is rather enlightening for the teacher.
This is not just about good teachers or good students (I think this forum is full of eager students anyway). This is mainly about sharing a money making method.
Imagine that back in the "gold rush" times some1 found a good spot, with lot of gold. How easy would it be to share that information? It does not need teaching skills or good students (anyone can dig). All he has to say is "come here, there is lot of gold". Will he do that? Or will he do the best to keep that place secret?
Any kind of system/method/source that makes money will be used by the one that knows/owes it to make him more money. Specially when sharing it cause him troubles and/or frustration (as you said, a trader has better things to do)
From what i know Steven Schonfeld does not teach anyone anything for free. He has some traders that he works with, but there is a mutual benefit. The traders make him money too. Is not like he is spending time to teach them without having something to earn in the process.
These days you can find information about anything, from trading to bomb making. For example you can find many books and videos about tennis. But is unlikely for some1 to become a top player just by reading books, looking at videos and training himself. The problem with trading is also that you may not have a second chance. Lose all your savings and your "trial and error" journey is over. I don't say is impossible, but it may take way more time to do that by yourself thought trial and error then if you had some1 to guide you.
After all, as many disclaimers say, this is for educational purposes only. It doesn't mean that anyone trying to learn or educate themselves on somebody else's strategy will have to go and trade the strategy immediately. Every trader has to do their "due diligence" (so to speak) before deciding whether they will adopt the strategy or not, regardless of if it is found at a forum or if money was paid for it. Sometimes a strategy does not fit well with one's trading style or account size.
I think the point is to lay your strategy out there and answer questions about it, so people following the thread can decide if they want to implement the strategy or not. They can always paper trade for a couple of months before deciding if they will adopt it or not.
Personally, I would find it interesting to learn about other people's strategies, and think this is a good idea. Like someone stated previously, it will also help the person teaching the strategy as one can learn a lot from teaching others.