The sacred edge 2.0 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

An Edge for an Edge (System Development) 116 replies

What do you mean by "Trader's Edge"? 17 replies

Sacred Trends and Entry 59 replies

Trading edge or following the crowd? 9 replies

What's your edge? 23 replies

Attachments: The sacred edge 2.0
Exit Attachments

The sacred edge 2.0

  • #1
  • First Post: Jul 10, 2015 11:26pm Jul 10, 2015 11:26pm
Tnis is another milestone in my journey of discovering an edge. I strongly believe this is the end of the quest for an edge and this will be my last trading journal created. I was tempted to start this in trading systems but then i dont want any commitments to training. I will do as much teaching as i can in here. How i got here can be seen on the last pages of my previous four trading journal. i want to appreciate Vlady1974 for his recent support and ideas in the elements of developing an edge.
This journal as referenced at the end of The Sacred Edge Journal is a compression of the previous thread concepts into one trading methodology. A new follower would have to go to those threads to have an idea of how i got here.
  • #2
  • Jul 10, 2015 11:30pm Jul 10, 2015 11:30pm
Here are some post that got me to this journal.

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 on what im sure works for now and look into other strategies in my free time. Interesting
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 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!
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 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
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.

Quoting ephisi
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...
  • #3
  • Jul 10, 2015 11:42pm Jul 10, 2015 11:42pm
My other journals with trade explorers in order of creation also telling the story of how i evolved thread by thread.

http://www.forexfactory.com/showthread.php?t=545053

http://www.forexfactory.com/showthread.php?t=546604

http://www.forexfactory.com/showthread.php?t=545708

http://www.forexfactory.com/showthread.php?t=548346
  • #4
  • Edited Jul 11, 2015 12:04am Jul 10, 2015 11:53pm | Edited Jul 11, 2015 12:04am
Quoting ephisi
My other journals with trade explorers in order of creation also telling the story of how i evolved thread by thread. http://www.forexfactory.com/showthread.php?t=545053 http://www.forexfactory.com/showthread.php?t=546604 http://www.forexfactory.com/showthread.php?t=545708 http://www.forexfactory.com/showthread.php?t=548346
Will attach a trade explorer which will always remain visible. Unlike the sacred edge trade explorer it will take someone who has worked hard to see what i am doing. On the sacred edge explorer it was quite easy to see my method for some. This upgraded method is a combination of different concepts. I will also now trade with stoploss.
I am all set and ready to roll next week. Have a blessed weekend buddies
  • #5
  • Jul 11, 2015 3:39am Jul 11, 2015 3:39am
Quoting ephisi
Tnis is another milestone in my journey of discovering an edge. I strongly believe this is the end of the quest for an edge and this will be my last trading journal created. I was tempted to start this in trading systems but then i dont want any commitments to training. I will do as much teaching as i can in here. How i got here can be seen on the last pages of my previous four trading journal. i want to appreciate Vlady1974 for his recent support and ideas in the elements of developing an edge. This journal as referenced at the end of The Sacred...
Well done ephisi and good luck my friend. I have only been reading your threads for a few weeks but I can see how fast you are developing as a trader. Vlady1974 has also caught my eye as there is some sound advice coming from this trader. The time is not quite right for me at the moment as I am in the middle of a business takeover, but I too will soon add my journal. I don't have many trades a week because I trade 6 pairs on the daily time frames looking for perfect entries with on average 4 trades a week so patience is a big factor with my trading style
.
Good look my friend I will keep popping in for a read now and then.
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #6
  • Jul 11, 2015 3:47am Jul 11, 2015 3:47am
Quoting ephisi
{quote} Will attach a trade explorer which will always remain visible. Unlike the sacred edge trade explorer it will take someone who has worked hard to see what i am doing. On the sacred edge explorer it was quite easy to see my method for some. This upgraded method is a combination of different concepts. I will also now trade with stoploss. I am all set and ready to roll next week. Have a blessed weekend buddies
Wish you the best of luck and many green pips. If its any encouragement, in the not too distant past, I contemplated opening a journal titled "Putting it all together". This i believe is the most elusive concept and what seems to make consistent profitable trading an impossibility. Put it all together!
  • #7
  • Jul 11, 2015 5:31am Jul 11, 2015 5:31am
Quoting Seabreeze
{quote} Well done ephisi and good luck my friend. I have only been reading your threads for a few weeks but I can see how fast you are developing as a trader. Vlady1974 has also caught my eye as there is some sound advice coming from this trader. The time is not quite right for me at the moment as I am in the middle of a business takeover, but I too will soon add my journal. I don't have many trades a week because I trade 6 pairs on the daily time frames looking for perfect entries with on average 4 trades a week so patience is a big factor with...
Thanks SB for the usual support. Cant wait to follow your journal. Based on your trading style and patience i think it wont take you much time to maintain a trading journal. And as vlad has siad many times a journal could actually help inprove your trading and psycology in general. Do start one immediately. It wont take your time. Even if you only post few times a day or week. We will be glad to share ideas with you
  • #8
  • Jul 11, 2015 5:33am Jul 11, 2015 5:33am
Quoting LITEchild
{quote} Wish you the best of luck and many green pips. If its any encouragement, in the not too distant past, I contemplated opening a journal titled "Putting it all together". This i believe is the most elusive concept and what seems to make consistent profitable trading an impossibility. Put it all together!
Thanks LITEchild. I have seen the light. I wonder why i hadnt figured it out earlier. Putting it all together is the key. Also expecting to see your putting it all together journal.
  • #9
  • Jul 11, 2015 7:10am Jul 11, 2015 7:10am
Quoting ephisi
{quote} Thanks LITEchild. I have seen the light. I wonder why i hadnt figured it out earlier. Putting it all together is the key. Also expecting to see your putting it all together journal.
Hello Ephisi, i remember seeing you in older TZ/RZ topics. It looks like you are on the right path. I agree, management is key and when using multiple theories it gives us a solid market framework that provides us the option to achieve effective management.
  • #10
  • Jul 11, 2015 9:31am Jul 11, 2015 9:31am
Quoting Robertk
{quote} Hello Ephisi, i remember seeing you in older TZ/RZ topics. It looks like you are on the right path. I agree, management is key and when using multiple theories it gives us a solid market framework that provides us the option to achieve effective management.
Thanks Robert, i think we met on the similarity thread. I must say its been a a long journey through all the similarity TZ/RZ concept threads but its been worth it. Yea it gives you an understanding and wholistic view of price movement. You can explain what is going on at any point in time. But There are times when multiple theories on a currency pair conflict each other. I believe this is when one needs to stay of such pair, trade other pairs and let things become clearer after some hours.
  • #11
  • Edited 12:01pm Jul 12, 2015 11:00am | Edited 12:01pm
GBPUSD levels to watch for longs. 1.5300/1.5350 .
Changed my mind on the sells. May take sell towards 1.5300/1.5350 levels if i get confirmation . Keeping an eye on this one.

EURUSD levels to watch for longs 1.1000/50
  • #12
  • Jul 12, 2015 11:46am Jul 12, 2015 11:46am
Quoting ephisi
GBPUSD levels to watch for longs. 1.5300/1.5350 . Changed my mind on the sells. May take sell towards 1.5300/1.5350 levels if i get confirmation . Keeping an eye on this one
Ephisi, you using market or pending orders at the moment?
  • #13
  • Jul 12, 2015 12:00pm Jul 12, 2015 12:00pm
Quoting Robertk
{quote} Ephisi, you using market or pending orders at the moment?
I use market orders but i will be watching price action at these levels. Price action will determing if,when and how i enter or not. If price goes through this levels without stalling then its a no trade. For sell also i will watch price action at the top if we get there for sells
  • #14
  • Jul 13, 2015 12:17am Jul 13, 2015 12:17am
i will be watching.
  • #15
  • Jul 13, 2015 1:05am Jul 13, 2015 1:05am
Quoting metta87
i will be watching.
Lol, welcome on board
  • #16
  • Jul 13, 2015 1:08am Jul 13, 2015 1:08am
Eurjpy any spike to 137.50/138 levels in london i will short on CSM confirmation
  • #17
  • Jul 13, 2015 2:33am Jul 13, 2015 2:33am
Quoting ephisi
Eurjpy any spike to 137.50/138 levels in london i will short on CSM confirmation
Lol, that was fast, waiting for csm confirmento
  • #18
  • Jul 13, 2015 3:00am Jul 13, 2015 3:00am
Quoting ephisi
Eurjpy any spike to 137.50/138 levels in london i will short on CSM confirmation
Hmmmn, csm may be getting me in late. Csm confirmed dont feel comfortable entering now but will enter anyway. Will see the effectiveness of waiting for csm, i may remove that filter because my levels kind of reject price
  • #19
  • Jul 13, 2015 3:03am Jul 13, 2015 3:03am
Got gbpusd early. 1.5533 all stops 50 to 100pips. Most importantly above recent createdswing highs
  • #20
  • Jul 13, 2015 5:05am Jul 13, 2015 5:05am
Quoting ephisi
{quote} Hmmmn, csm may be getting me in late. Csm confirmed dont feel comfortable entering now but will enter anyway. Will see the effectiveness of waiting for csm, i may remove that filter because my levels kind of reject price
What happened? You had your levels right. "CSM" ? Whats that?
0 traders viewing now