Why some succesful traders show bets for free? | Forex Factory

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Why some succesful traders show bets for free?

  • #1
  • First Post: May 8, 2017 1:20pm May 8, 2017 1:20pm
I am trying to understand this. I am thinking myself, advantagess:

- to show how cool you are when winning
- maybe to make others follow your bet, and so the price gets affected and increase chance of winining? Like if you buy, and your followers buy, then price price increases = win for you

Disadvantage of showing your bets:
- forex is aproximatelt zero sum game. So if now you help others to win, there is less money left to be won. Or maybe that does not work that way as mentioned in following advantage. Like if all the world would bet on same as you bet, fore example buy, then price would instantly jump up. And then you can make sell, and again all the worlld follows you and you instantly win again So maybe there is no disadvantate of showing your bets.
- you will hate that others are winning from your knowledge for free. Just feeling.
  • #2
  • May 8, 2017 1:44pm May 8, 2017 1:44pm
Don't watch other's bet , even free. Problem solved. Focus on trading, technical analysis and patience are key.
Never Gamble Forex
  • #3
  • May 8, 2017 1:52pm May 8, 2017 1:52pm
Quoting coolfish
i have another question in the same subject, who take the money you lose by trading and from who you take the money that you won ?
I also have same question. I partly understand the answer. From losing traders and from business who exchange money not caring about price, because they need the currency at that moment.

The question is what is ratio. iF you are wininng - what part of your wins are from traders losses and what part of your wins are from unavoidable currecny exchange.

Quote
Don't watch other's bet , even free. Problem solved.
if I find profitable trader, why not watch? why make my life harder? I would give even part of winnigns if I had this. Thats why I am intersested in sites like copyfx, just need to find out more, to be sure its really not a scam and profitable thing.
  • #4
  • May 9, 2017 1:35am May 9, 2017 1:35am
Quoting SPeedFANat1c
{quote} if I find profitable trader, why not watch? why make my life harder? I would give even part of winnigns if I had this. Thats why I am intersested in sites like copyfx, just need to find out more, to be sure its really not a scam and profitable thing.
You can't be too sure. All such copy site traders update their score by EA which may not be updated in real time. If trader blow account after initial 500% return and never update EA later, copy signal site still show that trader in profit. Always check latest balance position and last update time .

Despite of all You need to learn technical analysis since copy trade can't make you better for prolong basis.
Never Gamble Forex
  • #5
  • Aug 9, 2017 4:03pm Aug 9, 2017 4:03pm
I don’t like to depend on others bet, it destroys the learning mentality. That’s why always try to trade with my real trading experience as well exact money management plan.
  • #6
  • Aug 17, 2017 8:24am Aug 17, 2017 8:24am
Some people are either just generous or they want to show off, occasionally some people are both at the same time.
  • #7
  • Aug 19, 2017 10:06am Aug 19, 2017 10:06am
Its to show off / get validation / and because they are kind people :-) Don't forgot most retail traders are doing it on their own at home. Its a very solitary life.
  • #8
  • Aug 21, 2017 8:22am Aug 21, 2017 8:22am
Quoting londonboy
Its to show off / get validation / and because they are kind people :-) Don't forgot most retail traders are doing it on their own at home. Its a very solitary life.
That's true, I know from personal experience. Sometimes the loneliness can get to you.
  • #9
  • Aug 21, 2017 9:17am Aug 21, 2017 9:17am
The usual reason is that they want to build credibility.

The two main reasons for that are wanting to promote something (now or in future), and because they want people to think they're experts.
  • #10
  • Aug 21, 2017 9:20am Aug 21, 2017 9:20am
Quoting Quickly
The usual reason is that they want to build credibility. The two main reasons for that are wanting to promote something (now or in future), and because they want people to think they're experts.
I don't think it is about being an "expert". Its about showing that they can trade successfully. I wish I had a mentor or had the ability to follow a successful trader when I started out. It has taken me 5+ years plus numerous blown accounts (totalling more than £25k ) to learn how to trade and now have the ability to make a decent return each month.
  • #11
  • Aug 22, 2017 8:34am Aug 22, 2017 8:34am
Quoting Quickly
The usual reason is that they want to build credibility. The two main reasons for that are wanting to promote something (now or in future), and because they want people to think they're experts.
That probably applies to some people at least. Others just like showing what they're capable of doing with no ulterior motive.
  • #12
  • Aug 27, 2017 1:30am Aug 27, 2017 1:30am
Quote
It has taken me 5+ years plus numerous blown accounts (totalling more than £25k ) to learn how to trade

Why blow the account especially for this amount? I mean even if you do not know how to trade you can be only slightly losing or not lossing at all. Like I am not trading on demo and I do not lose real money.

Or will I still have to lose so much of real money to learn really to trade? I hope not
  • #13
  • Aug 30, 2017 4:16am Aug 30, 2017 4:16am
I have a personal trader, he helps me a lot about trading! I started from zero level but now I am making regular money according to his direction! But I see, he never share his trading account and his trading details with me! So I think, pro traders don’t show their personal data!
  • #14
  • Aug 30, 2017 5:35am Aug 30, 2017 5:35am
Quoting JimmyChoo
I have a personal trader, he helps me a lot about trading! I started from zero level but now I am making regular money according to his direction! But I see, he never share his trading account and his trading details with me! So I think, pro traders don’t show their personal data!
When you will be a pro trade by your own experience, you also will not share the account you have. Its common and part of professionalism.
  • #15
  • Aug 31, 2017 2:46am Aug 31, 2017 2:46am
Hmm ... until the trader become pro , they might have share their trading methodology in order to catch attention from other traders to comment , of which might be constructive / destructive . It's a way of learning .

btw I don't think it will have impact on the PA even if the whole community in the forum trade in 1 direction (due to the huge average trading volume from around the globe)
  • #16
  • Aug 31, 2017 9:32am Aug 31, 2017 9:32am
Quoting idyzl
Hmm ... until the trader become pro , they might have share their trading methodology in order to catch attention from other traders to comment , of which might be constructive / destructive . It's a way of learning . btw I don't think it will have impact on the PA even if the whole community in the forum trade in 1 direction (due to the huge average trading volume from around the globe)
That hadn't occurred to me as a possible explanation, but it makes perfect sense.
What do you think about those traders who no longer need this but continue to give this information for free? Why do you think they do it?
  • #17
  • Aug 31, 2017 10:16am Aug 31, 2017 10:16am
Very often they just try to build a potential client base and hook it up to some product they want to sell in the future. In the end of the day it is all about the money and nothing is really for free in this life
  • #18
  • Last Post: Sep 1, 2017 10:20am Sep 1, 2017 10:20am
Quoting UlliC
Very often they just try to build a potential client base and hook it up to some product they want to sell in the future. In the end of the day it is all about the money and nothing is really for free in this life
You are right. I'd like to think that some people do it out of pure selflessness - such people do exist - but most aren't doing it for that reason.
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