Quote:
Originally Posted by Shootanappleoffmyhead
I am now realizing the political incorrectness of my question posed to a website dedicated to sharing trading information and experiences. I realize that if you say, "Yes, it is not a good idea to share your best info." Then you mongrelize your purpose and butcher your efforts. I am not insinuating this to be the sole reason for your rebut, but I can smell the influence.
I asked myself if we as profitable traders should seek to replicate ourselves into the 10% club, which would be not as fulfilling for the ten percent as it would be for the 90%. I am just thinking that it is not good for the 90% to try and fit into the 10% space. Just imagine this. What if all profitable and successful traders taught everyone else how to trade well. What would happen to the market?
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haha. I personally thought your question was a good one that is just the type that generates good discussion and debate. It is these types of questions and debates that in my opinion make a great learning community, so I encourage you and everyone else to feel comfortable speaking your mind here about anything related to trading.
I personally feel that there are few "secrets" to profitable trading. In my opinion most if not all of the information one needs to trade profitably is out there (and with the internet mostly for free) if people are willing to look for it, and have the intelect and work ethic required to learn it. With this in mind, while I agree that it would help some if every profitable trader mentored others in their methods, in my opinion I don't think this would change the trading landscape that much because:
1. The fact that there were all these mentors out there would draw more people to the market.
2. The large majority of people would not have the intellect, and/or would not be willing to put in the work required to learn and follow the methods taught, just as the large majority do not now.
This question in my opinion, is seperate however from keeping the intricut details of a strategy secret. Here in my opinion if the strategy is descretionary the profitability of the strategy will not be affected by disclosing the broad concepts that are behind most discretionary strategies as trader personality plays such a large role. If it is systematic then if the strategy has enough money behind it to be on the radar, then in my opinion profitability will suffer as a result of disclosing the strategy, and therefore the details would need to be kept secret.
This is why as I pointed out in my first post that this is also a good post for the Informed System group to think about, as the relative privacy of the strategy once the finer details are worked out will need to be decided. So one more reason I think this is a good post to continue debate and discussion on.
Best Regards,
Dave