Why does the truly successful trader in forex never share their method or strategy?
Actually they do. Famously the ‘Turtle Trader’s’ strategy was ‘leaked’ and the legendary hedge fund manager behind it said an important truth “I could publish my strategy on the front page of the New York Times, but it won’t matter because most people will not follow it”.
Strategies are not the scarce resource. If they were, there would not be so many profitable traders at banks and so many hedge funds. The scare resource is access to capital. If you only have $1,000 to trade with, what use a strategy.
The other reason we know they disclose strategies is because Financial Times have published first hand interviews with top traders where they do disclose strategies.
So, it is not that there is one secret sauce, it is that there is a lot of misinformation (eg Trading Schools, Institutes) and that people will not have the patience and discipline to follow a strategy because they think it means you win 90% of trades, rather than, as George Soros’s book reveals, you win 50% of the time — like a coin (random?) BUT when you win, you make more by running the trend (if trend following like Winton, AHL, Aspect) than you lose when you lose (because you never add to a loser, and keep initial positions small).
I’ve created a some free video content based on my interviews with top global traders if you would like to see more: www.trading-champions.com
Also this video summarises some key important points.
The Author is founder of www.pipspredator.com a fintech trading algo spun out of his hedge fund — Praefinium Partners