I've had quite a few discussions with Ruthlessimon but I never realised that the name consists of two words - must have been fooled by the connecting S.
![Smile :)](./images/smilies/icon_e_smile.gif)
If I knew which numbers would pop up on the lottery I certainly wouldn't share that with anyone. On the other hand, if I was a world champion chess player, writing books and giving away all my thoughts on openings, tactics and strategies wouldn't jeopardise my position for obvious reasons. Giving trading advise is more akin to the latter. Most people who take your advice won't be trading the same race, the same horse, the same time, or the same price, unless it's a system with a very specific application.Ferru123 wrote: ↑Tue Nov 21, 2017 6:33 pmI see where you're coming from.ruthlessimon wrote: ↑Tue Nov 21, 2017 6:00 pmPerhaps mislead is a bit strong, but mainstream education is inherently flawed because trading is 0 sum. That's not a very good marketing line.
If I were one of the top traders, I wouldn't sell info that could damage my edge (by sharing it) for less than six figures.
I would gladly give generic advice, but that isn't what people pay good money for...
Jeff
that is very true. but at the same time the foundations will be right. you would head in the right direction. And that is very important.
Sure, but we aren't talking about a pro taking someone under his wing - something I've been lucky to be the recipient of.ruthlessimon wrote: ↑Tue Nov 21, 2017 6:56 pmEducation does work in a small trusted group / 1to1. A top trader as part of this group isn't looking for financial repayment - but the psychological satisfaction - that they have just changed a couple of peoples lives.
Money can't buy that & arguably it's worth more than 6 figures.
There are so many successful traders using the exchange that a few more will make no difference. Besides, there are always bookies and punters chucking money onto the exchange, together with traders who don't know what they're doing. Then there might be people who buy your book but just don't have the skill or capability to follow the advice through.
Sure - providing you only shared knowledge and ideas that were in widespread circulation anyway. You wouldn't share a new line of the Sicilian that you were preparing for your next opponent.
How about if we add Trader C to the mix (of the Trader A, Trader B scenario).
It may damage him (if he has an edge himself).ruthlessimon wrote: ↑Tue Nov 21, 2017 9:31 pmHow about if we add Trader C to the mix (of the Trader A, Trader B scenario).
Trader C has a background in data handling/sciences & knows how to test/model a trade hypothesis. For example, Trader C can offer a way to: "unequivocally prove chart patterns are no better than random." Could Trader C provide a course that could benefit the mainstream? Or does disclosing exactly how he builds/tests trade ideas damage him?
An algorithm by definition is a process or set of rules to be followed in calculations or other problem-solving operations, especially by a computer. The human brain doesn't do algorithms, that's what makes our brains more powerful then microprocessors - we are able to ignore rules, assess every situation and use our intelligence to make a better decision.Ferru123 wrote: ↑Tue Nov 21, 2017 9:36 pmI disagree.
All a successful trader is doing is executing a plan. Some will know what their rules are on a conscious level - with others, it will be an algorithm that they aren't consciously aware of, which they might call intuition or a feel for the markets. But either way, it's about following a plan, not on relying on a mysterious sixth sense that's been honed through thousands of hours of practice. Otherwise, bots would be rubbish at trading.
If you knew Peter's algorithm, you could replicate his success.
Yet I bet you won't be posting an unedited video of a day in the trading life of Derek anytime soon.