DislikedWe're all posting the same ideas over and over every few months
- PermanentJuan: "Don't trade the cross wait for confirmation" -> my own "MA w/ Jacko AH" thread
- How many moving average systems do we find? Lever's "Cornflower?" "Key to the mint?" "Vegas Tunnel" "Bunnygirl cross" etc....
- My "Martingale EA Almost can't lose" posts -> FXTradePro's "SemiMartinglae strategy"
- Should I even start talking about Finonacci? "BAT by Team Aphid"
- Countless hedging systems that explode. Where does it end????
It's the same wheel reinvented OVER AND OVER. In other words, we are all so desperate for a REAL advantage, that we wander the same circles.
My question...Ignored
For example the turtle traders were all taught the same system by someone who turned a few thousand dollars in to a few hundred million trading. It was a very very simple system. Their first set up came and only one of ten traders followed the system completely. When he interviewed they all gave him reasons for why they either didn't take the trade, buy the amount of contracts, or follow the exit strategy. This was a guy who made hundreds of millions trading that system and they didn't have enough confidence to follow it. And they weren't even trading with their own money.
During the following months some traders were very profitable and some actually lost money. All using the same system. It even got to a point where one of the traders thought Dennis had shared secrets with some of the others that were allowing them to trade well.
Look at this forum. Every time I come here the vast majority of people are in the trading system section in their search for the next new thing. They follow one system, but then it produces a few consecutive losses and its on to the next. Until that one produces a few losses and the search continues. Losses are part of this business, but people try to avoid them at all costs. When a new system pops up, within in the first couple of pages someone asks how many losing days the system creator has experienced and then next, if they have ever experienced a losing month.
Some of the best systems I have seen produce consistant small losses on a regular basis, but the winners are huge. It takes a certain personality to follow these systems. Losing regularly week in and week out and being able to ride the occasional winner for a very long time are both extremely difficult. I know I couldn't do it.
I would venture a guess that people who develop their own systems are far more likely to be profitable than the people who adopt someone elses. First, they have created a system that works with their personality and not someone elses. Second, they understand how and why the system works and they develop confidence in it.
But most people take the easy way out, and fail.