Here is my system: Almost the holy grail trading technique.
The basic technique, which is very important that you follow is enter long just before the market goes up 300 pips.
It can't fail.
The best part is it works on all currencies.
It sound like you know before hand that the market is going up 300 pips. Hmm... tell me how you make such prediction? or may be is the market go up 300 pips then you go short?
Here is my system: Almost the holy grail trading technique.
The basic technique, which is very important that you follow is enter long just before the market goes up 300 pips.
It can't fail.
The best part is it works on all currencies.
:
It sound like you know before hand that the market is going up 300 pips. Hmm... tell me how you make such prediction? or may be is the market go up 300 pips then you go short?
And hot dog sales at the Ballpark to see if the Frank is going down well. "All profits are based on uncommon ideas. As time passes, the ideas disperse, competition increases, and profits diminish"
I was thinking today, and it occured to me that most traders are very unwilling to share the details of the systems they use to trade. Why is that? And I must admit I'm just as guilty as anyone else. It seems to me that this kind of thinking is self-defeating. I mean, if a large number of traders were trading your system, using your signals, wouldn't you be more likely to be on the right side of a movement in the market?
Why don't more traders stick together? I mean look at what is happening in the Firebird thread. The system is free to all who wish to have it, and a good number of traders are working together to improve it, the results look promising. Why don't more traders do that?
And hot dog sales at the Ballpark to see if the Frank is going down well.
...of margarine sales. This is especially effective for the trading the lb. There's no butter way to trade.
To funny.
My personal opinion is that most successful traders don't share their system not because it is a "secret" one or because they just found a new inefficiency in the market. And not even because they are selfish or afraid that their method would stop working if more people used it. Well, maybe some of those reasons can be valid at some point, but none of them is the main one.
I strongly believe that the fundamental reason is that all these traders use much more discretion than they realize or are willing to admit. Even the ones whose trading is mostly based on technicals or a so called mechanical system do not follow that system blindly. If they did, they would lose. The best proof is the constant failure of all expert advisors, at least after a while - what better proof do you want that no precise set of rules is good enough to win? The market is constantly changing, and the top traders, the few that make money year after year, are capable of understanding that change and tweaking their system to fit the new conditions. When such a system is shared on various forums you see that the author doesn't take all its signals, or takes signals that aren't there yet. When you ask him why, you will hear things like "you know, because it's GDP news in one hour", or because "yesterday we already had a big move", or because "the other correlated pair is moving in the other direction".... The system in fact becomes just a pretext for opening and closing positions, and all the others trying to follow the same system would lose, because it's not the system making money, it's the trader who knows when to obey those rules and when to break them. Why do we hear things like "I knew I had to short the pound, so I just waited for that cross to happen" and the next day "yes, the cross occured, but it wasn't the right moment to sell it because...<SOME reason here>". Why does it take so long to become a good trader? If it were just a system, anyone could be a great trader by simply reading a 3 page pdf explaining the rules of a good system, in 20 minutes. And you all know that it takes years, not 20 minutes. It seems to me that most decisions are in fact the result of some sort of very complex subconscious knowledge, integrating a huge number of technical and fundamental factors resulted from experience and natural talent.
Since I am an International Master at chess, I would like to make an analogy. Many times I reach a complex position and almost without thinking I know the right move. Another strong master would also find it, just as easily. Sometimes it is very difficult to explain to a lower rated player why I played that move. If I try to come up with some general rule or concrete variation to prove my point I would be in fact lying, because the truth is that I knew the move was right without trying to follow any of those rules or calculations. It's simply the result of seeing/studying/playing thousands of similar positions in the past, and learning from them. Not because I am consciously trying to memorize that pattern, I am not even aware that I know it, and cannot explain it in words. At some level the brain would recognize it and act accordingly, selecting the best move. I believe that same thing happens after years of staring at charts, reading fundamentals, placing trades and all the rest. You begin to "know" what to do, what works and when. And that's why many people say that trading is an art, not a science. I agree 100%. It also explains why this myth regarding great trading systems or methods that successful traders refuse to share is just that, a myth.
). The above post I think is excellent in reasoning and I would like to add the following thoughts: I'll take this opportunity to make my very first Post here even tho I have been lurking on FF and other sites a long while (So--Hi everyone--you all rock!
I do not believe it is a lack of "sharing", as most Forex traders I have talked with on other forums as well as read are very friendly and willing to share to some degree. The folks on this Forum are a prime example as others of the helpful, considerate and friendly persons you often meet in Forex circles. But it is also a very key point that Forex is more of developing your trading skills for you to LEARN to BE a Trader. Its about teaching someone to fish vs just giving someone a fish. Being a TRADER is done by developing your own skills--not mimicing or following blindly someone else like a reflection or waiting for others to tell you what to do. There are too many "alert systems" out there for sale. If you follow someone blindly you put all your focus on that person and not the destination or how to get there, you then lose sight of where you are going and if you get lost--well its your own fault for not paying attention. But if you take interest in the direction and landmarks and obsticles to get to the end goal and make efforts to contribute to getting there, you will never get lost and always be able to stay on track. I mean--if it was as simple as following ONE universal all-working no fail system that works 100% of the time for everyone, there would be no challenge and no problem in making $$$ and Forex would be as easy as filling a bathtub with water. But what works for one person does not work for another all the time... Every successful trader I have ever talked with has always made adjustments to their systems, or it was always a system in development and growth and change as the market conditions changed or other indicators suddenly showed new promise in the changing conditions. So trading methods are only a starting point for development and its up to the Trader to take it to the next step if needed for refinement or adjustment. I would say then its not that folks are unwilling to share..I would say its folks 1) do not want the responsibility for having folks "follow" them or bombard them with comments when someone doesn't follow the system completely or does and it just doesn't happen to work that one time, and feel its 2) up to each trader to take what is useful and make it their own and accept what it means to BE a TRader and ACCEPT the risks out there. Too many folks are looking for fast answers and quick riches and thats just not a reality...and I think many folks on here who have shared their methods--some of which have been EXCELLENT I might add, leave it up to the individual trader to put on the fine touches. Because for something to work for someone they must UNDERSTAND it as much as the originator of the system and WHY and WHEN it does or does NOT work, and be able to adapt it to the changing conditions and make it work for them. In other words--I think the majority feel that its up to everyone to become their own TRADERS and not sheeple or blind followers...
Just my two cents FWIW...I'll go back to lurking.
SF
Now, when it comes to sharing I have to disagree with Merlin.
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and it's already pretty strong.
but soon .
