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Attachments: Where is the EDGE in trading? The most important thing in trading!
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Where is the EDGE in trading? The most important thing in trading!

Quoting ALThau
Actually if you Google "trading personality test" you will get over 1mil results.
What can ya' say to that ?
has this thread ended
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
Quoting egadsforex
What can ya' say to that ?
Where I was going with it, .....there are actual trading personality tests,
for example... tharptradertest dot com
I'm not promoting him, just a resource if someone interested
There is only one Edge in FX trading and that is Money Management, get that right and you will also have the Holy grail.
I can think of at least 8 edges (trend is only one of them) that you can find everyday in TA/PA.

I took 18 scalps today and ended up 20 pips positive.

Don't let anyone tell you that you can't find an edge in forex.
There's many ways to win. The question is, can you be consistent
enough and get enough of an edge to overcome the spread.

I believe you can if you are disciplined and have good mentors.
Quoting ChesterB

Don't let anyone tell you that you can't find an edge in forex.

It is true. But once you find your edge I think the battle has only just begun. The next step is controlling yourself and using it sufficiently to come out the other side with profit. And a profit that will do justice to the time you have invested. This is where under-capitalization, and a new wave of psychological pressures present themselves over time.

Your edge is your sword, but it won't swing itself. You must train yourself to use it properly. Otherwise it can work against you and you can sever your own limbs.

I have the scars to prove it.
Time hides Nothing
Quoting CindyXXXX
It is true. But once you find your edge I think the battle has only just begun. The next step is controlling yourself and using it sufficiently to come out the other side with profit. And a profit that will do justice to the time you have invested. This is where under-capitalization, and a new wave of psychological pressures present themselves over time.

Your edge is your sword, but it won't swing itself. You must train yourself to use it properly. Otherwise it can work against you and you can sever your own limbs.

I have the scars to prove it....
For what it is worth here is how I came to some level of success:

1. Tried technical analysis - failed.
2. Learned money management, risk management, trader psychology - all useless unless you have an edge.
3. Got fancy with neural networks, machine learning, pattern recognition etc - still no edge.
4. Didn't get an edge until I realised that price is an effect and not a cause. It's the needle on the thermometer - you have to know what causes the needle to move to get an edge (and I'm not talking about fundamentals).
Irregular
Quoting bgin2end
And finally, don't expect to make ANY money doing this, when you are happy with losing, it's surprising how you start to win.
Brilliant bit of advice.
Irregular
I think there's something more important than the EDGE in trading. And it's ... money. You can wipe your azzo with your discipline, your edge and knowledge if you don't have the funds to open an account.
forget about tomorrow, just steal away into the night
Undercapitalization and lack of funds are a non-issue IMO. Just keep your risk per trade small (1 to 2%). that's it. BOOM!
Quoting bigblue
.........
4. Didn't get an edge until I realised that price is an effect and not a cause. It's the needle on the thermometer - you have to know what causes the needle to move to get an edge
Success is a marathon, not a sprint!
Here:

"In 2013, Kim Man Lui and T Chong pointed out that the past findings on technical analysis mostly reported the profitability of specific trading rules for a given set of historical data. These past studies had not taken the human trader into consideration as no real-world trader would mechanically adopt signals from any technical analysis method. Therefore, to unveil the truth of technical analysis, we should get back to understand the performance between experienced and novice traders. If the market really walks randomly, there will be no difference between these two kinds of traders. However, it is found by experiment that traders who are more knowledgeable on technical analysis significantly outperform those who are less knowledgeable"


So according to the study I quoted above, if the market was truly random there should be absolutely no way for experienced traders to outperform beginners. Is there a way for someone with "experience" to predict the results of a coin toss with greater accuracy than someone who's never seen a coin toss in his life? No, they both have equal chance in a coin toss, not so with markets and technical analysis however
Hi guys,
I would like to invite you to my new thread where I post everyday new intraday trading levels. I use price action, market profile and orderflow to make them. You can all see if this method works for you.
Here is the thread:http://www.forexfactory.com/showthre...14#post9162014
You are all welcome there!

Happy trading
Dale
Quoting flotsom
I'm still hoping this thread can find it's way back to addressing the original question rather than the back and forth blind arguments about who is right or wrong about TA, PA, or FA. So let me briefly touch on what I think amounts to the "edge" in my trading. I attempt to get in to a free trade as quickly as possible and then let that trade remain open for as long as possible to gain potentially unlimited upside gains. On entry, if the price is rising, I buy. If price is falling, I sell. If after entering a trade the price changes direction and...
Hi - I'm pretty much a newbie (been trading only 1 year) and stumbled upon this post from Flotsom going back a few years.It seems so incredibly simple - Flotsom does it still work for you? And which time-frame have you been trading this on? Would the 1 or 5 minute chart work for this? How do you decide on the initial SL level? Would be most grateful for some help here....
Always look for reasons not to take a trade
Edges：

have a slight clue on whether that day will be a trending day or ranging day

know when legit trend should normally happen for each pair, not every big move you see on the chart is trend =)

even if there is trend, it is good to select pair that are more easy to ride

if in sync, should be easy, trade with the trend, the stop loss level should be determine by how in synced the trend is and how much volatility in the trend

know when that trend is likely to pause, when activity will likely to die down, and take your profit.

Besides there is also some subtle advantage by trading the right pair (including cross) to squeeze a trend for more profit.

In the end, all money management rules cannot save a trader from losing, if he doesn't have an edge, only a matter of losing fast or slow.

besides no edge, trading = gambling.
All about MM and psychology, they do not mean anything.
If your strategy has no edge, nothing will make you profitable trader.
The fact is it looks like with roulette, even if you do not know how to try without edge you will not do anything.
Hello? Does this thread still active?
It seems like this site is creating fake profiles in the last 2 months and posting on dead threads to keep them alive.....Maybe FF traffic is slowing down....

Very obvious tactic by FF
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