What is your secret and edge? | Page 6 | Forex Factory

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What is your secret and edge?

  • #101
  • Oct 24, 2017 1:26pm Oct 24, 2017 1:26pm
the edge is:

there is no market

you won't remember what trades you took, but you will certainly notice there are only 2 dollars left in your account.
  • #102
  • Oct 24, 2017 3:07pm Oct 24, 2017 3:07pm
The secret is every edge on the chart tells you something very important.

Every edge gives you... an edge.

You do not have a clue what I am talking about, do you?
Maadik Hugiis. IQ 69.
  • #103
  • Oct 24, 2017 3:39pm Oct 24, 2017 3:39pm
my edge is fading spikes... treating them as gaps. Which they are gaps in liquidty.
The only system that will work is one designed by and for yourself.
  • #104
  • Oct 24, 2017 3:46pm Oct 24, 2017 3:46pm
There is no edge, only probabilities. When trading, let go of your worldly thoughts (stress, greed, fear, etc.) and arm yourself with probabilities theory that the market will have no choice but to side with you at certain points sometimes. Using pivots is one among several to do that.

Well, I guess taking advantage of probabilities can be an "edge" but the trick is knowing probabilities can turn tables on you and how you deal with it at those times.
  • #105
  • Oct 24, 2017 4:48pm Oct 24, 2017 4:48pm
I'm not sure there's any "secret" as such; pretty much all traders have methods that are simply slightly different takes on just a handful of core common underlying strategies. It's not what you do that is so important, it's how you do it, that I think is where anyone's edge mostly lies.

And what's critical to how you trade your method? My experience is it lies more in good risk control, discipline, consistency and handling losers well more than it does in trying to perfect your entry & exit rules.

Take all trades you like the look of on an equal basis and risking only a small % of your account per trade. Run those that work for you until they stop working for you; and kill the losers as soon as you can for as little damage as you can. React appropriately to how trades pan out rather than trying to predict the outcome at the outset. Once you're in a trade only the market will decide where it goes, not you. But you can control the financial impact, good and bad, on you wherever it goes so focus on that. Do that well and you likely have a robust edge in your favour.
  • #106
  • Oct 24, 2017 8:08pm Oct 24, 2017 8:08pm
Trading is simple. People make it hard.
  • #107
  • Oct 25, 2017 2:05am Oct 25, 2017 2:05am
Orders
"Men Who Can Both Be Right & Sit Tight Are Uncommon" ~ Jesse Livermore
  • #108
  • Oct 25, 2017 3:42am Oct 25, 2017 3:42am
Quoting 2+2=4ex
Trading is simple. People make it hard.
Trading is not simple, and people tend to over complicate everything, making something that is difficult almost impossible, which is the gist of what you are saying.

If it was simple, it would be possible to get the hang of it almost immediately, though most take several years at least if they get it at all.

Once one has learned how to trade, then yes, it may seem simple, but it never is until this objective has been achieved.

By merely saying that trading is simple, without any further clarification, is an insult to the many traders out there who, despite trying for years, have still to turn over a consistent profit.

To simplify something that is complex is the key to winning in this game, or as Einstein once said - " Genius is making complex ideas simple, not making simple ideas complex ".

We don't have to be geniuses to succeed as traders, but we do have to be methodical, disciplined, tenacious, and flexible in our approach.
  • #109
  • Oct 25, 2017 3:56am Oct 25, 2017 3:56am
My edge is small losses, big wins.
  • #110
  • Oct 25, 2017 7:32am Oct 25, 2017 7:32am
Quoting bloodpoodle
my edge is fading spikes... treating them as gaps. Which they are gaps in liquidty.
They are interesting, here's an example from yesterday.
Here's Tom with the weather.
  • #111
  • Oct 25, 2017 2:09pm Oct 25, 2017 2:09pm
My edge is to follow my rules for opening and closing a trade. If i deviate from that I quickly lose my edge.
  • #112
  • Oct 25, 2017 11:07pm Oct 25, 2017 11:07pm
TS is absolutely rright. R:R is not important, statistical win:loss is of higher value. i can have a 1:0.1 RR ratio. which to everyone is very horrible money management. but if the statistical probability of me only losing 1 out of every 100 trades. it is a goldmine. question is how reliable is your statistical probability? And this, is my edge.
  • #113
  • Oct 26, 2017 1:03am Oct 26, 2017 1:03am
Quoting cat
{quote} Trading is not simple, and people tend to over complicate everything, making something that is difficult almost impossible, which is the gist of what you are saying. If it was simple, it would be possible to get the hang of it almost immediately, though most take several years at least if they get it at all. Once one has learned how to trade, then yes, it may seem simple, but it never is until this objective has been achieved. By merely saying that trading is simple, without any further clarification, is an insult to the many traders out...
Trading is simple. There is nothing inherently difficult about trading. It's people who get in their own way.
  • #114
  • Oct 26, 2017 1:17am Oct 26, 2017 1:17am
Quoting 2+2=4ex
{quote} Trading is simple. There is nothing inherently difficult about trading. It's people who get in their own way.
Yet the overall majority fail, so your statement is a contradiction. There are many reasons why so few succeed, but one of them is not because trading is easy.
  • #115
  • Oct 26, 2017 1:25am Oct 26, 2017 1:25am
Quoting cat
{quote} Yet the overall majority fail, so your statement is a contradiction. There are many reasons why so few succeed, but one of them is not because trading is easy.
Are you sure? Trading is like walking. Ask the babies. First is hard. Then it becomes easy.
Maadik Hugiis. IQ 69.
  • #116
  • Oct 26, 2017 1:32am Oct 26, 2017 1:32am
Quoting MoneyZilla
{quote} Are you sure? Trading is like walking. Ask the babies. First is hard. Then it becomes easy.
But all babies learn to walk don't they?
  • #117
  • Oct 26, 2017 2:04am Oct 26, 2017 2:04am
Quoting cat
{quote} But all babies learn to walk don't they?
Most do learn, yes. Walking is a in-built free app. Trading is like walking, but one has to build the app on his own, on before hand...
Maadik Hugiis. IQ 69.
  • #118
  • Oct 26, 2017 2:41am Oct 26, 2017 2:41am
Quoting MoneyZilla
{quote} Most do learn, yes. Walking is a in-built free app. Trading is like walking, but one has to build the app on his own, on before
hand...
Which is the hard part, and which most fail to do.

Listen, enough of this ' trading is easy ' nonsense. Despite the odd person who claims otherwise, I and thousands of other traders out there know it is one of the most difficult skills they have ever attempted to master, if not the most difficult. There are a great many reasons why trading is so hard, and there have been many valid discussions concerning this on this forum over the years. I cannot however ever remember seeing a discussion on why trading was so easy!

In my opinion anyone claiming trading is easy does so for one of three reasons -

a/ They have no idea what they are talking about
b/ They are trying to impress, whether successful or not.
c/ It is so long since they became successful that they have forgotten how difficult it was to get where they are ( the most unlikely of the three )

There is one point I would concede on however, and it is a point I touched on in my original post on this thread, and that is that most of us do tend to make trading more difficult than it need be, but that in turn, is one of the reasons why becoming a successful trader is so hard.
  • #119
  • Oct 26, 2017 3:24am Oct 26, 2017 3:24am
Cat, you are making unfair interpretation of what i have said... If you cant learn to walk - walking will be quite hard business for you. For the babies who have learned to walk - it is easy-peasy job. Alright?

If you have struggled like the first 3-4 years, 20-30 years later, you will hardly remember how hard it was. Especially when you have everything...

If trading is hard for you, mate, at least you know where you are at the moment. And it is valid only for you! Individually!

Never seen Ronaldo, Messi, Michael Jordan to complain playing is hard! Staying on the top might be hard for them.

Playing their respectful sports was and still is an easy job for them... Don't you agree?;-)))))
Maadik Hugiis. IQ 69.
  • #120
  • Oct 26, 2017 4:01am Oct 26, 2017 4:01am
Quoting MoneyZilla
Cat, you are making unfair interpretation of what i have said... If you cant learn to walk - walking will be quite hard business for you. For the babies who have learned to walk - it is easy-peasy job. Alright? If you have struggled like the first 3-4 years, 20-30 years later, you will hardly remember how hard it was. Especially when you have everything... If trading is hard for you, mate, at least you know where you are at the moment. And it is valid only for you! Individually! Never seen Ronaldo, Messi, Michael Jordan to complain playing...
But that's the point. Nobody cares about me, whether I find it hard or otherwise, not do they care about you either. Unless we have some physical disability, we all learn to walk, nature dictates this. Nature does not dictate whether we succeed or fail as traders, in fact, it more precludes it than anything else. My argument is the general truth that learning how to trade is far from simple, it is incredibly difficult. Once a trader has mastered it and moved into the realm of consistent profitability, then of course it seems easy, that is a given and barely worth pointing out, but the learning process with all its vicissitudes is something that will never be forgotten.

Now you may well be the exception to the rule, for whom trading just fell into place relatively quickly, and if so then I congratulate you, but for the overall majority of people out there, this is not the case, and it is that we should be addressing, not individual ability, though of course if you have some gleam of wisdom you would like to share as to why trading is so easy, then please feel free to enlighten us.
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