What is your edge?

1) Right pair(s)
- Based on recent strength indicator to indicator the strongest and weakest pairs to trade
- Understand the current market themes ( USD majors, JPY or Commodities pairs)

2) Right patterns (Price Action)
- Trend/Counter-Trend
- Breakout
- Retracement
- No trading position at all

3) Right prices
- Good entry price
- Logical stop loss based on support/resistance
- Exit


I am sure it must include the above i mentioned. Anymore to add ?
Feel free...

Macro fundamentals

SPACE .................................................................................................................................................................................................................................................................................................................................................................................................

I don't think anything the OP has mentioned gives anyone an edge. IMO, the edge lies in the ability of the trader to know how and when to capitalize on the current market conditions whether it be trading a pair like aud/jpy when there's severe risk aversion, trading breakouts vs buying a bounce/selling a rally, knowing when to stay out of the market, adjust risk levels, etc. The currency market is a constantly evolving and ever changing creature and a traders edge, IMO, lies in realizing that fact and having the ability to adjust their trading methodology according. I am not saying that a trader that trades one way and one way only cannot be profitable, but I have found, at least for me, that tailoring my strategy to the market greatly increases profitability. Basically, constantly trading the same way in a market that is always changing makes no sense. The rub is always going to be whether or not a trader is capable of reading the market correctly on a consistent basis and can make those adjustments. Good luck to you.

My psychic octopus.

Perseverence... and coffee

Ability to sit on my hands. I.E.: Patience

That`s your edge tayloring the strategy

my edge is that i use only price action. in a demo account!

planning to go live though next week.

Once I started staying away from these threads suddenly my trading improved!
Q

Price momentum......

Exactly. Here's a post from another person on the forum from another thread.

"I have had a stint where I had 34 losing trades back to back! http://cdn.forexfactory.com/images/s...nailbiting.gif

What went wrong? Just the law of averages and probability. The market went in to a period of extremely tight range which lasted longer than I had ever seen before, and I got whipsawed good and proper. I opened and closed every trade exactly as I should according to my own strategy, but I got bounced around like a pinball. It's the closest I've ever come to thinking I may need to change my method. I watched trade after trade turn (almost instantly) and reach my stop. Easily the most disheartening and frustrating session I've ever gone through. I was in the hurt locker and it wasn't nice. In fact, I may even have cried at one point......why me?"


I am not trying to pick on this person but he blames that string of losses on the law of averages and probability which is not correct. Those laws do state that the longer you trade the higher probability you'll have of longer losing streaks, but the reason he continued to lose was he continued to trade the same way in a market that wasn't conducive to his trading style instead of altering his style or just staying out until market conditions changed. You hear people preach about never straying from their rules and using strict discipline which is fine some of time but makes an erroneous assumption that the market is always the same and it's only them not following their rules that makes them lose. It sounds like he trades for the trend and gets beat up when the market ranges. Fine, then switch to a ranging style of trading or fade his original orders to a point outside the range so if it continues to range, it averages and you can take some profit. It it breaks out of the range, you only take a loss and then can continue with the trend trading style. Lots of different things that can be done. Anyway, I can only speak to what works for me. To each their own. Trade well.

My edge is myself.... & dreaming about & eating chocolate.

a couple of trendlines on a daily chart .shooting star , hammer , and engulfing bar
i dont dream anymore as supremechaos do . but i still eat chocolate .

hahahah... why not?

im old my friend

no one gets old, samersoros

'Repeated Pattern'

I trade indices mainly FTSE 100 and there are patterns which gets repeated.

Staying away from the screens, once a trade is running!

i got it

no doubt, but do the opposite of what a losing trader takes and you should win instead

he/she takes a trade, you take the opposite trade
he/she closes early, you close early
he/she closes late, you close late

such a simple concept, trading against the losing trader and i'm out of the 95% losing side