Trading An Edge... | Page 141 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

An Edge for an Edge (System Development) 116 replies

Where is the EDGE in trading? The most important thing in trading! 878 replies

Odds and Edge - Probabilities in Day Trading 1 reply

Trading System versus Trading Strategy: Gaining a Profitable Edge 33 replies

Trading edge or following the crowd? 9 replies

Attachments: Trading An Edge...
Exit Attachments

Trading An Edge...

  • #2,801
  • Feb 9, 2021 5:59am Feb 9, 2021 5:59am
Took this DAX long earlier above D-mS2, closed at 23.6 fib for +10. Currently looking for a short below D-S1.
Attached Image (click to enlarge)
Click to Enlarge Name: d621831e9a7cc0aa1a9bc409fd644a10.png Size: 74 KB
Nnom nnom
  • #2,802
  • Feb 9, 2021 9:13am Feb 9, 2021 9:13am
Dow - Long

off D-mS1

EDIT: Closed D-PP +29

Attached Image (click to enlarge)
Click to Enlarge Name: DJ 21-02-09 A.png Size: 22 KB


Start enjoying accurate entries and low draw down trading today using Pivot Prof, the only S&R tool you will need.
Works with all symbols Forex, Indices, Shares, Gold etc..
Find out more and get the Pivot Prof Scanner for free here ► Pivot Prof - Trading An Edge
  • #2,803
  • Feb 10, 2021 2:12am Feb 10, 2021 2:12am
DAX - Short

below D-Open D-PP

EDIT: Closed +11

Attached Image (click to enlarge)
Click to Enlarge Name: DAX 21-02-10 A.png Size: 19 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 892bcc8e743397cc85c04e6ee65dd603.png Size: 15 KB


Start enjoying accurate entries and low draw down trading today using Pivot Prof, the only S&R tool you will need.
Works with all symbols Forex, Indices, Shares, Gold etc..
Find out more and get the Pivot Prof Scanner for free here ► Pivot Prof - Trading An Edge
  • #2,804
  • Feb 10, 2021 2:42am Feb 10, 2021 2:42am
i had same entry . i closed on DS-1 +50
Attached Image (click to enlarge)
Click to Enlarge Name: f8f9b4b4e9e95c6325291ed23cd89eb7.png Size: 55 KB
  • #2,805
  • Feb 10, 2021 2:55am Feb 10, 2021 2:55am
DAX - Long

above D-Lo D-S1 and 0%
aligned with FTSE hitting D-PP resistence

EDIT: Closed 50% D-PP D-Open +46
EDIT: Closed reaminder +36

Attached Image (click to enlarge)
Click to Enlarge Name: DAX 21-02-10 B.png Size: 20 KB

Attached Image (click to enlarge)
Click to Enlarge Name: b08e1161422333e72d963263532d6537.png Size: 31 KB

Start enjoying accurate entries and low draw down trading today using Pivot Prof, the only S&R tool you will need.
Works with all symbols Forex, Indices, Shares, Gold etc..
Find out more and get the Pivot Prof Scanner for free here ► Pivot Prof - Trading An Edge
  • #2,806
  • Feb 10, 2021 2:56am Feb 10, 2021 2:56am
Quoting pointlessfor
i had same entry . i closed on DS-1 +50 {image}
nice, I was like 1 point short of taking 50% at +20
  • #2,807
  • Feb 10, 2021 3:03am Feb 10, 2021 3:03am
Quoting MaxDoom
DAX - Long above D-Lo D-S1 and 0% aligned with FTSE hitting D-PP resistence EDIT: Closed 50% D-PP D-Open +46 EDIT: Closed reaminder +36 {image} {image} Start enjoying accurate entries and low draw down trading today using Pivot Prof, the only S&R tool you will need. Works with all symbols Forex, Indices, Shares, Gold etc.. Find out more and get the Pivot Prof Scanner for free here ► Pivot Prof - Trading An Edge
my target is 14058 below D-mR1.
  • #2,808
  • Edited 3:49am Feb 10, 2021 3:15am | Edited 3:49am
DAX - Short

below D-PP
need to be careful with FTSE in case it bounces off D-PP

EDIT: Closed 50% +20
EDIT: Closed remainder +12

Attached Image (click to enlarge)
Click to Enlarge Name: DAX 21-02-10 C.png Size: 16 KB

Attached Image (click to enlarge)
Click to Enlarge Name: d68ec246dc1e7b7c937db2e0858b3d82.png Size: 19 KB

Start enjoying accurate entries and low draw down trading today using Pivot Prof, the only S&R tool you will need.
Works with all symbols Forex, Indices, Shares, Gold etc..
Find out more and get the Pivot Prof Scanner for free here ► Pivot Prof - Trading An Edge
  • #2,809
  • Feb 10, 2021 5:03am Feb 10, 2021 5:03am
Currently long DAX off D-mS1, not full whack though as I was hoping to scale into it and I didn't get the retrace I was hoping for.
[EDIT] Closed +16 as I couldn't take half off.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 8af6a92666e353ff039605c173946b30.png Size: 64 KB
Click to Enlarge Name: 58a6e412323ed2b9c503c2810b1bacfb.png Size: 69 KB
Nnom nnom
  • #2,810
  • Feb 10, 2021 5:20am Feb 10, 2021 5:20am
Quoting haribos
Currently long DAX off D-mS1, not full whack though as I was hoping to scale into it and I didn't get the retrace I was hoping for. [EDIT] Closed +16 as I couldn't take half off. {image} {image}
still a nice trade.

I also took the long just closed 50% D-PP +21

Attached Image (click to enlarge)
Click to Enlarge Name: b45a23918ec138fb0fda3c9c1080eb5c.png Size: 46 KB
  • #2,811
  • Feb 10, 2021 6:02am Feb 10, 2021 6:02am
Quoting pointlessfor
{quote} my target is 14058 below D-mR1.
i am still waiting my target
  • #2,812
  • Feb 10, 2021 6:16am Feb 10, 2021 6:16am
Quoting pointlessfor
{quote} i am still waiting my target
Yep, I'm long again off D-mS1, hoping it will test the top of the channel again at your target level.
Nnom nnom
  • #2,813
  • Feb 10, 2021 6:27am Feb 10, 2021 6:27am
not enough momentum for me, I await some before any more trades... probably need NY now
  • #2,814
  • Feb 10, 2021 7:49am Feb 10, 2021 7:49am
Typical, I close 2/3 of my position as I didn't like the way it was acting and immediately it then zooms instantly up to where my TP for those lots were in one swoop.
Nnom nnom
  • #2,815
  • Feb 10, 2021 8:06am Feb 10, 2021 8:06am
Quoting haribos
Typical, I close 2/3 of my position as I didn't like the way it was acting and immediately it then zooms instantly up to where my TP for those lots were in one swoop.
I know it is hard to ignore that kind of thing, but you need to as in the end it will take you down the classic path of revenge trading etc.

Try instead to focus on your entries, managing your trade, looking for the next and forget about what could have been etc. because it serves no purpose.

Those missed opportunities also tend to be outliers and of little use to you other than as a quick hoorah, as you hone your skills you will find that if they are genuine repeatable opportunities then your trade management will naturally evolve to encompass them over time.

and right now there is so little momentum any trade risk is skewed and your more likely to hit drawdown and SL.
movement on volume = trade opportunity
movement on no volume = more random outcome
  • #2,816
  • Feb 10, 2021 8:18am Feb 10, 2021 8:18am
Quoting haribos
Typical, I close 2/3 of my position as I didn't like the way it was acting and immediately it then zooms instantly up to where my TP for those lots were in one swoop.
and I should add, that from what I've seen of your trades so far you seem to be getting on with it and doing your thing with consistency
  • #2,817
  • Edited 9:16am Feb 10, 2021 8:46am | Edited 9:16am
Dow - Short

below D-R1
EDIT: -1 on the retest of D-R1 re-entered S&P is testing D-R1 and needs to give way
EDIT: BE

Attached Image (click to enlarge)
Click to Enlarge Name: DJ 21-02-10 A.png Size: 16 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 2f4290ed0794d485e77090ec2e178bbc.png Size: 37 KB


Start enjoying accurate entries and low draw down trading today using Pivot Prof, the only S&R tool you will need.
Works with all symbols Forex, Indices, Shares, Gold etc..
Find out more and get the Pivot Prof Scanner for free here ► Pivot Prof - Trading An Edge
  • #2,818
  • Feb 10, 2021 8:50am Feb 10, 2021 8:50am
Thanks, I am improving with the help of PivotProf and also having looked at hundreds of trades you and Steve have made.
My main issues with trading that I've had to work on are:

1) Patience - generally I know where the market is going but in the past I've expected it to go there far too quickly so have got in way to early and then it does X retracements, stops me out (or I have to use big stop losses which cause big drawdowns on the occasions I'm wrong) before eventually going where I expected it to go.

2) Accepting when I'm wrong - I come from a maths/science background so I'm used to being right in my work and education, so I've found it really hard in trading to accept when I'm wrong and get out. It sounds stupid but I've found it really hard to learn to close a trade for a small loss, not because of the money but because it means I was wrong.

3) Perseverance - when you lose several trades in a row it's easy to give up and then miss the one that would have made your day profitable. You really need to approach each trade with no memory of the past like a computer would execute a trading algorithm. It doesn't care if it's lost 5 in a row it will keep taking the trades. If the algorithm is right then it will make money.

Generally I think being a successful trader is 95% psychology and 5% technical skill. The technical side of things I think any reasonably smart person can learn. The mental side is much more challenging and certain people probably just aren't suited to it. I don't think I'm naturally suited to to it mentally but I'm hoping I can work on it enough that I can be successful.
Nnom nnom
  • #2,819
  • Feb 10, 2021 9:09am Feb 10, 2021 9:09am
Quoting haribos
Thanks, I am improving with the help of PivotProf and also having looked at hundreds of trades you and Steve have made. My main issues with trading that I've had to work on are: .
They are all really good observations, get used to be wrong in trading though, as your finding a correct directional view is not always easy to implement in a trade, and all big SL do is cover up the fact that an entry is not as tight as it could be and of course drives that drawndown/loss. So that is where Pivot Prof gives you naturally defensive entry points, but as you have seen I regulary take 50% off for a profit even if I expect a big runner, and never regret it because with regularity the price swings come back to BE.
  • #2,820
  • Feb 10, 2021 9:20am Feb 10, 2021 9:20am
Quoting MaxDoom
{quote} They are all really good observations, get used to be wrong in trading though, as your finding a correct directional view is not always easy to implement in a trade, and all big SL do is cover up the fact that an entry is not as tight as it could be and of course drives that drawndown/loss. So that is where Pivot Prof gives you naturally defensive entry points, but as you have seen I regulary take 50% off for a profit even if I expect a big runner, and never regret it because with regularity the price swings come back to BE.
Perfect example here, I am now on my 3rd short of the Dow below D-R1 the first two cost me just -1.
So short again after S&P dropped below D-R1 and pulled Dow with it

EDIT: Closed 50% D-PP +103
EDIT: Closed remainder 76% +154

Attached Image (click to enlarge)
Click to Enlarge Name: DJ 21-02-10 C.png Size: 18 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 15dee68eef1c8b0687a9163b44e27971.png Size: 37 KB


Start enjoying accurate entries and low draw down trading today using Pivot Prof, the only S&R tool you will need.
Works with all symbols Forex, Indices, Shares, Gold etc..
Find out more and get the Pivot Prof Scanner for free here ► Pivot Prof - Trading An Edge
4 traders viewing now