Having read Sterling's thread, it occurred to me to pose this question.
I can't for the life of me understand why traders so rarely are prepared to share their specific trading methods.
Is it because they think that if their method is disclosed it will suddenly stop working? I'm pretty sure that wouldn't happen for 2 reasons.
1. The method will never get spread so far as to be adopted by enough traders to affect the market at all.
2. Even if it did, isn't it the case that the more people use a method (in Forex and Securities trading likewise), the more effective it is? Think about it. The more people go long at the same point in time on any particular pair (eg at a particular MA crossover), the more that pair's price will rise! The same of course works in reverse.
I'm new to Forex and I may be wrong and if so, I stand to be corrected.
Or maybe the reason is that if the world found out just how effective and profitable a simple trading method can be, everyone would start quitting their jobs and trading Forex instead? That would leave no one to make our hamburgers and drive our trains. We can't have that.
Just my 2 cents
LightKeeper
I can't for the life of me understand why traders so rarely are prepared to share their specific trading methods.
Is it because they think that if their method is disclosed it will suddenly stop working? I'm pretty sure that wouldn't happen for 2 reasons.
1. The method will never get spread so far as to be adopted by enough traders to affect the market at all.
2. Even if it did, isn't it the case that the more people use a method (in Forex and Securities trading likewise), the more effective it is? Think about it. The more people go long at the same point in time on any particular pair (eg at a particular MA crossover), the more that pair's price will rise! The same of course works in reverse.
I'm new to Forex and I may be wrong and if so, I stand to be corrected.
Or maybe the reason is that if the world found out just how effective and profitable a simple trading method can be, everyone would start quitting their jobs and trading Forex instead? That would leave no one to make our hamburgers and drive our trains. We can't have that.
Just my 2 cents
LightKeeper
"The market will rally from this or lower levels"