As you know I belong to many forex rooms all over the net , as I am sure many of you do to, where strategies are talked about , politics are discussed as it relates to trading and anything else you can think of that might affect the markets. Here is what else lurks in the trading forums......people who want something for nothing.
Let me explain what I mean. About a week ago on one of these forums someone had taken notice of a posting I made in which I accidentally forgot to cut off my profit on the screenshot I posted so everyone was able to see how much money I actually made off the trade. Normally I am pretty diligent in keeping such things private because the amount of money is not what is really relevant it is whether or not the trade works.
So I got a message from a person on there saying " Wow nice trade! I am new to forex trading can you please share your strategy with me so I can make money to? Well I replied a simple , Sorry no , sent it and believed I was done with this conversation. Well I a day went by and I happened to be on the forum again and this person made a comment to the room abotu how greedy successful traders are that won't share their strategy with everyone.
This upset me quite a bit but I took a step back and thought about it from his point of view because I was once a new trader as well looking for the "Holy Grail" . So after thinking about it I relied to his post so everyone could see and here is what I wrote :
" Hello XXXXX
I understand how you feel and many others have felt the same way but here is the fundamental problem with your request. Recently I was approached by a colleague who noticed that I have had pretty good success trading over the last few years as well. He then asked me " What is your secret? , please show me how you do it" I refused and told him that there is "no secret" to trading, there is no "Holy grail" , EA or system that works all the time.
I have also noticed this on many other websites where brand new , or fairly new , traders find someone who is successful and ask him to show them how and when they refuse the new trader gets pissed off and says they are greedy or selfish.
Now I do know about the rest of you but I did not become a successful trader overnight. It took me many years of research , study , losses and gains back testing , forward testing and everything else under the sun to get where I am today.
I spent COUNTLESS hours ( just ask my wife
) in front of the computer studying and analyzing charts until my eyes
were ready to pop out. I read many books and studied psychology and
behavioral finance and tinkered with A LOT of different methods and
systems and I have blown accounts up more times than I care to mention
before finding a consistent method that works for me.For anything in life there is some price that HAS TO BE PAID . Whether it is monetary through losses , physical or emotional is up to each individual. To many people want others' hard work without having to pay the price for it. ( I am not talking about price in the sense of "buy my system for $XX , I am talking monetary in the sense of actual trading capital)
I learned everything on my own and for someone to just ask me to give them everything I have and have worked so hard for so they can "quantum leap" to success without the hard work that I put in is insulting to me. I am sure there are people who can and do give out their successful methods for free I just do not know many of them...... One thing I heard many years ago is that " people do not sell a profitable business, if it is making money they would not sell it"
I am not claiming to be a millionaire or anything like that, I am a successful trader , now what being successful means to me is something completely different to the next guy. If I have a goal of making $50 a day and I do it then I am successful . Same applies if it is $75 , $100 etc.
Bottom line is that you cannot " Quantum Leap " success in anything in life period so before you embark on something that you want make sure you ask yourself .... " AM I willing to pay the price? "
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