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An Edge for an Edge (System Development) 116 replies

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Attachments: The Sacred Edge
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The Sacred Edge

  • #101
  • Jul 7, 2015 3:33am Jul 7, 2015 3:33am
Quoting rcbarlow
Sorry that I offended anyone. That was not my intention.
You have not offended anyone. You just need another attitude. If you will just go where we have gone. You would learn alot more that what you would learn from my charts in here. The are bits and pieces allover. You just need to find them and piece them together
  • #102
  • Jul 7, 2015 4:03am Jul 7, 2015 4:03am
Quoting ephisi
{quote} Added to longs on cadchf at 0.7450 was aiming for 0.7435 but missed it by 0.00002/3 micropips. Added on live account but forgot to add on demo. Will add if we get back there
Cadchf 1hr candle closed exactly on daily pivot which was keeping price below it all throughh yesterday. Need it to close above 0.7462
  • #103
  • Jul 7, 2015 4:54am Jul 7, 2015 4:54am
Quoting ephisi
{quote} Cadchf 1hr candle closed exactly on daily pivot which was keeping price below it all throughh yesterday. Need it to close above 0.7462
Added to demo at 0.7455
  • #104
  • Jul 7, 2015 7:24am Jul 7, 2015 7:24am
Quoting ephisi
{quote} Added to demo at 0.7455
Stoploss on both cadchf trades place at 0.7420. Crude oil dump is not helping matters. This was not a good trade
  • #105
  • Edited 7:43am Jul 7, 2015 7:33am | Edited 7:43am
Quoting ephisi
{quote} Stoploss on both cadchf trades place at 0.7420. Crude oil dump is not helping matters. This was not a good trade
Closed both cad trades for -50pips. There was some bad analysis i made with that trade. It could rally but the trade is extremely risky. Found out after i was already in the trade
  • #106
  • Jul 9, 2015 8:41am Jul 9, 2015 8:41am
Quoting ephisi
{quote} Closed both cad trades for -50pips. There was some bad analysis i made with that trade. It could rally but the trade is extremely risky. Found out after i was already in the trade
Finally rallied into approximately 40pips plus 50pips profit. But closed those trades due to high risk.of major breakout
  • #107
  • Jul 9, 2015 8:43am Jul 9, 2015 8:43am
My mind is expanding by the day. I will have much better enteries and quicker profit setups than before. Learning everyday. Its all about good filters
  • #108
  • Jul 9, 2015 6:17pm Jul 9, 2015 6:17pm
Taking a long on audcad. I am 100pips late on this trade but still entered because the trade has alot of room oo move to twe up side. 300 to 400pips target. May take a week or weeks to play out. Will add longs is she reaches the bottom again.
  • #109
  • Jul 10, 2015 9:09am Jul 10, 2015 9:09am
I discovered a weakness in my strategy. Exiting early on very good trades i could have turned into swing trades. Ive decided to twist things abit to increase my risk reward ratio and milk trends. What i see is that i get very good entries then exit with little profit. I have been able to incorporate other aspects of TZs as i mentioned in my timebased TZ/RZ thread i order to enter trades on retracement to co tinue with the trend. Hope to see improved results. Having to track different strategies hasnt been easy for me. I might just have to focus on what im sure works for now and look into other strategies in my free time.. usdjpy finally rallied fro the bottom. Interesting
  • #110
  • Jul 10, 2015 10:01am Jul 10, 2015 10:01am
Quoting ephisi
I discovered a weakness in my strategy. Exiting early on very good trades i could have turned into swing trades. Ive decided to twist things abit to increase my risk reward ratio and milk trends. What i see is that i get very good entries then exit with little profit. I have been able to incorporate other aspects of TZs as i mentioned in my timebased TZ/RZ thread i order to enter trades on retracement to co tinue with the trend. Hope to see improved results. Having to track different strategies hasnt been easy for me. I might just have to focus...
I believe the entry and exit are so intrinsically linked, from a personal psychology point of view that I believe it contributes towards trade expectation. There is one thing defining Risk/Reward, but there is another thing discovering an edge that defines Reward and having another edge that defines risk.

To me, entering the market means taking on or defining risk - because we assume and readily accept that we don't know what the market will do. You only have an expectation. Since you entered and took on that risk, there must be an underlying assumption that your edge is placing you in a Low Risk entry. BUT - that entry does not define your exit unless your edge does that at the same time.

If you were to combine your skills, knowledge and experience so that your Entry Edge and Exit Edge worked together consistently - note "consistently" doesn't mean all the time, but with a high degree of probability, then your confidence can increase to the point that if you know where the likely EXITS are - you could trade into that exit from 10 pips away, 20 pips or 200 pips away - OR - you could also trade into the exit at different times.

Compare that to entering say on a classic indicator like a Trendline or S/R line... but the market moves against you and this then turns into a trade management scenario (eg. drawdown).

When this was explained to me - it was one of the key moments that allowed me to understand and refine all the "edges" i'd learned but had not structured so as to answer the Entry/Exit combination. Hope this helps!
A pip is only worth it if you know how much you risked to earn it
  • #111
  • Edited 11:26am Jul 10, 2015 10:30am | Edited 11:26am
Quoting vlady1974
{quote} I believe the entry and exit are so intrinsically linked, from a personal psychology point of view that I believe it contributes towards trade expectation. There is one thing defining Risk/Reward, but there is another thing discovering an edge that defines Reward and having another edge that defines risk. To me, entering the market means taking on or defining risk - because we assume and readily accept that we don't know what the market will do. You only have an expectation. Since you entered and took on that risk, there must be an underlying...
Yes matey. This helps alot. As a matter of fact its as though you typed into my mind before i read your post. I figured out exactly what to do and came up witha plan. Im already seeing where i was missing it, leaving hundreds of pips on the table. My plan i figured out is to combine the concepts of my 4 threads into one fine knit methodoloogy. This would take care of entries as well as exits. Heres what i wrote in my notes.
1. Short term swing trend trading thread concept( Provides Trend direction)
2.sacred edge thread concept(used for good entries and initial trade management. Move stop to BE once sacred edge target is hit then free ride the trade moving stops with every new swing high or low)
3. Time based TZ/RZ thread concept in addition to previous trading knowledge(used for trade management, optimal targets and major correction targets for possible reversal trades . Entry and exit). Counter sacred edge signal also for exits.
4. Longterm position trading thread (when signal 4 aligns with 123 i know im looking at a 500 to 1000pips profit trade)
So thats it. Everything i know incorporated into one trading methodology. Cant wait to see my results next week
  • #112
  • Jul 10, 2015 10:35am Jul 10, 2015 10:35am
Quoting ephisi
{quote} Yes matey. This helps alot. As a matter of fact its as though you typed into my mind before i read your post. I figured out exactly what to do and came up witha plan. Im already seeing where i was missing it, leaving hundreds of pips on the table. My plan i figured out is to combine the concepts of my 4 threads into one fine knit methodoloogy. This would take care of entries as well as exits. Heres what i wrote in my notes. 1. Short term swing trend trading thread concept( Provides Trend direction) 2.sacred edge thread concept(used for good...
That's what I'm talking about! SNAP!

And don't forget - this is just Trade Setup/Management!
Also consider the efficiency gains for the process of "Hunting" and "Filtering"..... which is where topics like Currency Strength, Cross Pairs and Fundamentals/News help you decide what areas to focus attention on. Eg. today's good results affected GBP and I was on it and rode it.... no need for directional analysis = less effort.
A pip is only worth it if you know how much you risked to earn it
  • #113
  • Jul 10, 2015 11:31am Jul 10, 2015 11:31am
Quoting vlady1974
{quote} That's what I'm talking about! SNAP! And don't forget - this is just Trade Setup/Management! Also consider the efficiency gains for the process of "Hunting" and "Filtering"..... which is where topics like Currency Strength, Cross Pairs and Fundamentals/News help you decide what areas to focus attention on. Eg. today's good results affected GBP and I was on it and rode it.... no need for directional analysis = less effort.
Thanks mate
  • #114
  • Jul 10, 2015 1:02pm Jul 10, 2015 1:02pm
Quoting vlady1974
{quote} That's what I'm talking about! SNAP! And don't forget - this is just Trade Setup/Management! Also consider the efficiency gains for the process of "Hunting" and "Filtering"..... which is where topics like Currency Strength, Cross Pairs and Fundamentals/News help you decide what areas to focus attention on. Eg. today's good results affected GBP and I was on it and rode it.... no need for directional analysis = less effort.
I now see why csm is important. CSM will seperate good setups from bad or at least allow you see when the relative pair strengt is right for entry to avoid massive drawdown.I never regarded csm though i got good trades. my method mosttimes already takes care of pairstrengt without having to check csm. There are times though i get it wrong. I believe this is were csm will help me. Paying attention to it now will increase my efficiency. Also the news filter is very useful. Dont place trades during news and if youre already in a profit trade b4 news move stop to BE. Thanks mate onfe again
  • #115
  • Edited Jul 11, 2015 5:22am Jul 10, 2015 10:27pm | Edited Jul 11, 2015 5:22am
Gotten the much needed sleep and rest from trading for the week. I feel refreshed and ready for the next phase evolution of my trading. It all adds up now. I thought i had discovered my edge, i was wrong. I was discovering an edge(Vlady1974). I only discovered one element of an edge and that is entry technique. I have tried alot of things based on TZs in the past and could get consistent results. They worked perfectly well for a period an then failed later. But i realized yesterday even as vlad confirmed my realizations that what i had in the past were different aspects of an edge. The reason they didnt remsin profitable was because they were not whole systems but aspects of trading methodology. I have now pieced everything together into one finely knit method. I no longer need to have 4threads, 4 strategies and 4 trade explores. Thats where i was missing it. Its all compressing into one now and looks promising. This has given birht to a new wholistic methodology: The Sacred Edge 2.0 ( Trend Trading). Less screen time, less stress, less trades, increased efficiency trades, etc. Have to continue this on a new thread. This is a journey for me and my different threads tell the story and how my trading evolved to this point. So please pardon my many threads. I believe the next one is the final one. In line with Vlad1974 latest thread title i have discovered an edge.
  • #116
  • Jul 11, 2015 5:12am Jul 11, 2015 5:12am
Quoting ephisi
I have now pieced everything together into one finely knit method. I no longer need to have 4threads, 4 strategies and 4 trade explores. Thats where i was missing it. Its all compressing into one now and looks promising. This has given birht to a new wholistic methodology: The Sacred Edge 2.0 ( Trend Swing Trading). Less screen time, less stress, less trades, increased efficiency trades, etc. Have to continue this on a new thread. This is a journey for me and my different threads tell the story and how my trading evolved to this point.
Congratulations mate! It's really awesome seeing your development. It's amazing to see peers evolve and grow - all traders go through it and we're constantly learning to keep our edge! Looking forward to seeing more! We learn from each other!
A pip is only worth it if you know how much you risked to earn it
  • #117
  • Jul 11, 2015 5:23am Jul 11, 2015 5:23am
Quoting vlady1974
{quote} Congratulations mate! It's really awesome seeing your development. It's amazing to see peers evolve and grow - all traders go through it and we're constantly learning to keep our edge! Looking forward to seeing more! We learn from each other!
Thanks Vlad. You also have been a good example of this development process. Keep it up
  • #118
  • Sep 11, 2015 10:59am Sep 11, 2015 10:59am
Thread officially reopened.
In the course of my swing trading using sacred edge 2.0 i had to wait for days to get valid signals, and when i was in trades i would need to hold for hours to days hoping the trend will continue. I needed to make money on a daily basis as such the need for ressurecting this awesome strategy surfaced

having gone back to my sacred edge trade explorer trades and my experience with the strategy i have come to realize that the sacred edge though being a daytrading strategy leaving lots of pips on the table when in profit, still is the most precise and accurate of my signals. Giving sure pips, entries and average winrate of 80%. And as high as 90% when applied accurately. I also get to make pips regularly most times on a daily basis. Happy to be trading this again. The other thread and trade explore will be dedicated to sacred edge 2.0 swing trading strategy.
  • #119
  • Sep 25, 2015 2:12am Sep 25, 2015 2:12am
My sacred edge and sacred edge 2.0 are both being traded from same account after I realized it wasnt necessary to trade seperate account. Sacred edge 2.0 are basically carfully selected basic sacred edge trades that have potential to trend so I hold them as swing to position trades.
  • #120
  • Jun 7, 2018 1:51am Jun 7, 2018 1:51am
I finally cracked it. Follow me here

https://www.forexfactory.com/showthread.php?t=774793
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