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Its not that some people don't want to share how they succeed, sometimes they
themselves can't explain totally how they do it. The least we/everyone can learn
from
the successul ones is a small GLIMPSE of how they do it, like reading between
the lines
of their messages. You will know you are a successful trader, when someone else
spoke of something that is so subtle, only those who are in that zone knows
about it. That's why
there is some difficulty of people understanding some of the concepts
used/explained by
successful traders. You have to be wearing the same hat as them to understand
them.
And yes, that is unfair, but if you are not on the same floor of the building
with them,how
can you get it in the first place? So you have to climb the stairs first, don't
think you can
use/deserve to ride the elevator yet! So homework and more homework!!
Yes, the key to the room is there, but you also have to have it in your
hand/fingers BEFORE you can open the room, the only way an average
trader/person can have the key to that room. is through experience and self
reflection as a trader. Too bad most newbie/would be traders got blown out of
the water first before their time is due.
Ron Augustine wrote:
>
> I think that one of the reasons you'll have a difficult time getting the
> answers you want is because many successful traders are reluctant to talk
> about what they do. The old adage comes to mind: "Those who know don't
> talk-- and those who talk, don't know". This is obviously not true across
> the board, but if you read this List for a while, you'll be able to tell who
> has something worthwhile to contribute and who doesn't. On this List in
> particular, when anyone mentions something that he/she might know that
> others consider controversial-- it leads to criticism and personal attacks.
> Who would want to invite that type of wrath?
>
> In the past, when I've commented on techniques that I use in trading-- it
> has led to a barrage of e-mail requests and inquiries and requires a lot of
> time to deal with-- far more time that I care to allocate to it. I have
> also attempted to teach personal friends who want to learn how to trade and
> found that it simply doesn't work in most cases. It requires an enormous
> amount of time and dedication, and usually turns into a very stressful
> exercise in frustration.
>
> Most of the technical side of what I've learned in the Markets over the
> years had led me to develop techniques that I consider proprietary and I
> have no desire to share them with anyone and have found that when I have
> experimented with this in the past --with personal friends-- they don't pick
> up on how to use the techniques to trade successfully anyway. For me,
> trading is at least as much an Art as it is a technical endeavor and I don't
> think anyone will be able to duplicate my poorly rendered version of a
> Picasso.
>
> It is fairly well known to people who have studied trading for a while, that
> most who attempt it don't succeed-- particularly in day-trading. Earl and
> others have discussed some of the reasons for this from many different
> perspectives. IMO, people who have the desire and compulsion to become a
> trader should be prepared to find their own path into the jungle. Even if a
> successful trader was willing to show you his path-- it probably wouldn't
> lead you to the promise land that he/she found anyway.
> ______________________________________
>
> At 05:51 AM 10/24/98 -0400, you wrote:
> >Hi folks..
> >
> >I'm getting scared. I'm just getting into S&Ps and Bonds after a long,
> >long layoff from the futures business. I've delved into trading enough
> >times that I'm cured of indicator fascination.
> >
> >Within the last two days, a newbie posted a request for all the closet
> >profiteers to come out of the woodwork and let him know whether they making
> >a living off day trading, and day-trading alone.
> >
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