Why "x" a secret? | Forex Factory

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Why "x" a secret?

  • #1
  • First Post: Edited Mar 18, 2007 7:42am Mar 17, 2007 11:36pm | Edited Mar 18, 2007 7:42am
Why do some experienced traders here (apart from those who mentor me) act so stuck up with their success story and method?

notice i didn't say all of them..

most of who i see sharing "systems" and giving hints are nebwbies that either trading demo or losing real cash.

to be honest, i see newbies often leading newbies

someone may start a sentence saying "one thing i found out is......" and end it with ."....but i doubt i would share this here..." why?
  • #2
  • Mar 18, 2007 12:11am Mar 18, 2007 12:11am
Quoting don perry
Why do some experienced traders here (apart from those who mentor me) act so stuck up with their success story and method?

most of who i see sharing "systems" and giving hints are nebwbies that either trading demo or losing real cash.

now would the real honest successful traders plz stand up?
the reality is they arent successful either,acting sucessful gets them respect from noobs, think about this, if you were successful would you spend your time trading and making craploads of money or would you spend it trying to teach a bunch of noobs??
Egyptian and proud of it!
  • #3
  • Mar 18, 2007 12:14am Mar 18, 2007 12:14am
Quoting don perry
Why do some experienced traders here (apart from those who mentor me) act so stuck up with their success story and method?

most of who i see sharing "systems" and giving hints are nebwbies that either trading demo or losing real cash.

now would the real honest successful traders plz stand up?
Perhaps the real, honest, successful traders realize that not all people on this planet have good intentions of using their intellectual property. It could be that there are people that would take their methods and sell them on E-Bay or start a signal service using it. Or God forbid, they just want to use their own method that they put weeks or EVEN YEARS of work into instead of rewarding people who have spent 2 weeks trading a demo in search for the Grail and are on the verge of giving up because 2 weeks is plenty of time to learn a field in which some call a business .

With this being said, I am one of those people that used to share his methods, and now I keep secrets. Why? Because I have intentions of starting a business with it, and I would hate to be beaten to the punch.

Honestly, this mindset reminds me of the rich vs. the poor in comparison with pros vs. newbies. I know we all want Robin Hood to come and distribute and make everything right, but it's just not going to happen. I'm sorry to be the one that tells you this.

Regards,

Kevin
  • #4
  • Mar 18, 2007 12:30am Mar 18, 2007 12:30am
Quoting kharvell
Honestly, this mindset reminds me of the rich vs. the poor in comparison with pros vs. newbies. I know we all want Robin Hood to come and distribute and make everything right, but it's just not going to happen. I'm sorry to be the one that tells you this.

Regards,

Kevin
I'm not the one with that mindset. And u can know those who are genuinly workign hard in forex from those who want a system to follow.

i dont blame u though but, Private message exist.
  • #5
  • Mar 18, 2007 12:38am Mar 18, 2007 12:38am
I agree with Kharvell. There is a sense of entitlement that is found among trading boards. No one has any obligation to share what they know and do, regardless of any of the very weak arguments put forth. Those who are able to consistently make money trading have had to pay their dues through years of hard work and money spent.

I know a group of guys that do some trading, mainly in the local markets here. They also dabble in FX. None of them are consistent in anything they do. I usually meet with them once a week for coffee and shisha and we spend hours talking about markets. They've been after me to teach them how to trade for the last 2.5 years. My response is always the same. I've already told you everything I know in our discussions. Yet they don't get it.

In the spirit of generosity, I'm going to reveal here in public the true secret to successful trading.





























The secret is............
































There is no secret. That's it. Once you wrap your mind around this, you're on your way to successful trading.
  • #6
  • Mar 18, 2007 1:47am Mar 18, 2007 1:47am
In response to what kharvell said, i'll second that, what would be in it for anybody who worked his butt off for months/years to reveal his methods to those who havnet put in as much time/effort or who are just sitting on their ass looking for handouts? You might argue that this forum is for disscussing forex and if People dont have anything to add to the pot then they shouldnt post or just stay off the forum altogether since they arnt helping anybody! I for one do not believe in giving away a method that I may have discovered, but on the other hand, i do believe in giving away helpful advice so that others may find a method that works for them and their personal trading style on their own.

For instance, lets say my trading method requires me to be at my desk 24/7, and lets say someone else dosn't have that kind of free time. What good does my method do for that person? So everybody's situation is different so they should work within their limitations and discover a method that works for them and their limitations.

A smart person would keep their successful methods to themselves and use it to manage multiple client accounts. Trading is a business too ya know.

On a final note, one of the reasons that im on this forum is because i myself, am not successful yet. And i like to read about other peoples opinions, stories, and any insightful advice they may have. I have never tried to use any of the free trading methods on here so i do not know whether they work or not. I dont mean to sound stuck up or cocky, im just being honest and saying what i think.
  • #7
  • Mar 18, 2007 1:59am Mar 18, 2007 1:59am
imho, successful traders have secrets and are somtimes unwilling to share their systems or way of trading, most probably because they were once noobs.

they understood the importance of studying and how much it would help the newbie to actually get dirty and start researching on their own. Personally, I'm not successful, but I kinda hate it when I see people going after new systems one and repeating it again and again when newer systems comes out. I'm a believer in finding your own system.
  • #8
  • Mar 18, 2007 3:17am Mar 18, 2007 3:17am
This is a nice discussion. I believe the only way one can improve fast is by reading alot, watch the mkt, testing out ideas and then find ur own system. Classic trading style can work i believe such as Elliott waves, fibonacci, ma and so on. But anyway, sharing of ideas doesn't make one poorer since we are trading for ourselves but of course if it's for commercial purpose, ppl would keep some secret i guess....
  • #9
  • Mar 18, 2007 5:28am Mar 18, 2007 5:28am
If you gave two people the same system chances are they would get different results.

I think a lot of success has to do with the traders mindset and their way of thinking.
  • #10
  • Mar 18, 2007 6:29am Mar 18, 2007 6:29am
Quoting willf
I think a lot of success has to do with the traders mindset and their way of thinking.
I would amend your statement to read, "...most of success..."

The problem with thinking that there are "secrets" to trading is that you are creating a barrier, solely of your own doing, that will prevent you from achieving success. There aren't any secret methods, reports, etc. I would say that there is one type of secret that makes a lot of money and that is insider information. But even that leads to successful trades, but not to successful traders.

By believing there are "secrets" you will keep yourself from focusing on what really makes money in the markets, which is finding a system with a slight edge, money management, and learning how to control yourself to do the right thing at the right time. If you insist on believing there are "secrets" you will always doubt your abilities and waste years trying to find that which separates the winners from the losers. And that's a shame because the thing that separates them can be found within yourself.
  • #11
  • Mar 18, 2007 7:08am Mar 18, 2007 7:08am
First of all there has to be said that there is no Holy Grail, apart from big players - they KNOW when to trade in order to WIN on 100% and they aren't us. We have to however develop money managment strategy in order to have more winning trades than loosing ones. That's it - as simple as it is. Make this formula your own oath and obey it no matter what. Keep it real guys!
  • #12
  • Mar 18, 2007 7:42am Mar 18, 2007 7:42am
Quoting g-dogg
the reality is they arent successful either,acting sucessful gets them respect from noobs, think about this, if you were successful would you spend your time trading and making craploads of money or would you spend it trying to teach a bunch of noobs??
i agree
  • #13
  • Mar 18, 2007 7:46am Mar 18, 2007 7:46am
Quoting Dopey
I would amend your statement to read, "...most of success..."

The problem with thinking that there are "secrets" to trading is that you are creating a barrier, solely of your own doing, that will prevent you from achieving success. There aren't any secret methods, reports, etc. I would say that there is one type of secret that makes a lot of money and that is insider information. But even that leads to successful trades, but not to successful traders.

By believing there are "secrets" you will keep yourself from focusing on what really makes money in the markets, which is finding a system with a slight edge, money management, and learning how to control yourself to do the right thing at the right time. If you insist on believing there are "secrets" you will always doubt your abilities and waste years trying to find that which separates the winners from the losers. And that's a shame because the thing that separates them can be found within yourself.

believe me, market inefficiencies "secrets" exists. I know a guy traing 800 Million OPM and he told me that if he told me what he does he would lose customers to me. And i believe him.


the guy gives up to 14% a month on your money. not a losing month.

I also disagree with you that there is no secret method.

believe it exists: Combine Money management and a proper entry and exit technique and there.....You got yourselfa winning method. That's what most traders call "your edge" and that is what noobs should be looking for.. not just a system to follow but to develop one that suits their emotions.

that comes my next point, we should never get rid of our emotion as it often leads to a better rationale. How to control and use them is a different story.

think of it this way...

U are the edge of a cliff... looking down u see a pot of gold. Would u jump down to get the gold? no. why? scared of the fall. Then u find a better way to get to the gold..clibming down
  • #14
  • Mar 18, 2007 7:48am Mar 18, 2007 7:48am
Quoting g-dogg
the reality is they arent successful either,acting sucessful gets them respect from noobs, think about this, if you were successful would you spend your time trading and making craploads of money or would you spend it trying to teach a bunch of noobs??
If someone has knowledge and someone else wants them to share that knowledge, is this the best way to convince them to share...

It does not hurt successful traders to help or not help.

This kind of statement makes the choice easier. Why teach someone when they think the teacher is a fraud? What is the point?
  • #15
  • Mar 18, 2007 7:53am Mar 18, 2007 7:53am
MY PLAN IS WORKING.....Slowly but surely the Experienced traders are answering
  • #16
  • Mar 18, 2007 7:57am Mar 18, 2007 7:57am
Quoting smjones
This kind of statement makes the choice easier. Why teach someone when they think the teacher is a fraud? What is the point?
which leads to my next Question. How do noobs know when they are being leaded by experiences vs other noobs?
  • #17
  • Mar 18, 2007 8:03am Mar 18, 2007 8:03am
Quoting don perry

which leads to my next Question. How do noobs know when they are being leaded by experiences vs other noobs?
That is the $64,000 question isn't it? I am going to have to think about it for a while.

But, what comes to mind right away is what are the opinions of others who have been helped by this person? Are they becoming successful? The thread about Jacko is a case in point.
  • #18
  • Mar 18, 2007 8:25am Mar 18, 2007 8:25am
ok. I haven't seen that thread.
  • #19
  • Mar 18, 2007 8:45am Mar 18, 2007 8:45am
Quoting don perry
MY PLAN IS WORKING.....Slowly but surely the Experienced traders are answering
Enough is enough... I will give you two secrets and see whether you can handle it... LoL
-Do not trade through Market Makers and use ECNs to trade ForEx...
-Learn to scalp using Rainbow and Level II...

More secrets in Mantra document anyway... LoL
  • #20
  • Mar 18, 2007 9:06am Mar 18, 2007 9:06am
"It is a natural law that like causes always produce like effects; and, therefore, any man or woman who learns to do things in this certain way will infallibly get rich.
That the above statement is true is shown by the following facts:
Getting rich is not a matter of environment, for, if it were, all the people in certain neighborhoods would become wealthy; the people of one city would all be rich, while those of other towns would all be poor; or the inhabitants of one state would roll in wealth, while those of an adjoining state would be in poverty.
But everywhere we see rich and poor living side by side, in the same environment, and often engaged in the same vocations. When two men are in the same locality, and in the same business, and one gets rich while the other remains poor, it shows that getting rich is not, primarily, a matter of environment. Some environments may be more favorable than others, but when two men in the same business are in the same neighborhood, and one gets rich while the other fails, it indicates that getting rich is the result of doing things in a Certain Way.
And further, the ability to do things in this certain way is not due solely to the possession of talent, for many people who have great talent remain poor, while other who have very little talent get rich.
Studying the people who have got rich, we find that they are an average lot in all respects, having no greater talents and abilities than other men. It is evident that they do not get rich because they possess talents and abilities that other men have not, but because they happen to do things in a Certain Way."---Wallace D Wattles
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