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 Post subject: Why Losing Traders Stay Married To A Method
PostPosted: Sat Jan 15, 2011 9:29 am 
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Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3203
Location: Canada
So why does a trader that's not profitable continue using a particular method?

It doesn't matter if the method cost money to obtain or is available for free. Therefore, the answer involves any of the below scenarios in any combination.

* Method discussed has developed into a very popular thread at a forum with lots of hindsight examples. Thread usually greater than +100 pages.

* Clean discussions without arguments or debates. A sense of community develops.

* Lots of different additional resources designed by several users of the method and sometimes these users behave as "teaching assistants".

* Method is coded and produces complex looking charts or unfamiliar looking annotations that will catch the eye of most traders.

* Live (real-time) chat rooms but no clear signal calls and/or no consistent verification (e.g. broker statements) that the signal calls were actually traded.

* Method designer of a free method will use the "it's free" statement to defend against any one that say it doesn't work or ban those that continue questioning the merits of the method.

Thus, if you spend you're trading days continuing to lose real money on a method and any of the above you see involving the method...you're married to the method. Further, most likely you will not use something else until you blow up or your trading capital get so low that you are unable to continue trading.

Last of all, here's a simple test of anyone that's sharing their method for free or for a fee...ask them to show chart examples of the trade signal getting losses. Most will not and the few that do...will slap an excuse to why it didn't work. When such happens, you now know that the method designer will do whatever it takes to protect his/her method even if such causes you to get consistent losses with real money.

Regards,
M.A. Perry


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