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What is your secret and edge?

  • #81
  • Jul 18, 2015 12:13pm Jul 18, 2015 12:13pm
My edge is knowing with every mistake my next trade is getting better.With thousands of mistakes already accumulated in my brain now for most part I have auto aversions to things that I have done before and were failures.
We basically trade ourselves.Work on your mind.Market is neutral it can only go up or down.(even in a range it only goes up or down.)
It is easier to say then do that's why most trading book authors are previous failed traders.Let this sink in.Work on improving yourself daily no matter how good you are!Market changes dynamically and you must adapt..
No system can help you if you are not prepared closing a losing trade and agonize over 20 dollars and end up forking 300.Have no emotion either in winning or losing.Be neutral.Celebrate end of the Year achievement.
In trading, you have to be defensive and aggressive at the same time
  • #82
  • Jul 18, 2015 12:27pm Jul 18, 2015 12:27pm
Quoting Alpha-Omega
"What is your secret and edge?"
Secret is not believing in trading secrets. Sticking to the plan is the edge. Mastery of the simple. Rejection of nonsense.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #83
  • Jul 18, 2015 12:38pm Jul 18, 2015 12:38pm
Quoting TooSlow
{quote} Secret is not believing in trading secrets. Sticking to the plan is the edge. Mastery of the simple. Rejection of nonsense.
Totally agree
Market is neutral and there is no secrets.It goes up or down.Where is your mind?How you react to it is the key.

Once one learns to play piano with wrong fingering and bad posture it is lot harder to correct because our brains have muscle memory and this is why addictions are hard to overcome.
Take 10 mistakes you made and go over them and identify the pattern.Work changing it consciously.People believe trading system are the key.Wrong it is your mind.

Read about turtle experiment when identical method was taught to very bright individuals and only about 5% made it.95% failed to follow simple rules!
This was money given to them free to trade...still amazing results.
Its not about method even a simple MA crossover system can be very profitable by strong competent trader.
REgards
In trading, you have to be defensive and aggressive at the same time
  • #84
  • Edited 1:13pm Jul 18, 2015 12:58pm | Edited 1:13pm
A premise that I have just started in this game and already gained some and lost more so that I shouldn't give away insights and I was reading this threat to pick up on ideas. It strikes me, however, that most of the advice goes against what Livermore tells in the "reminiscences". There he talks unfavourably of charting, analysis, what else, yeah, stop losses, all those things that I find in someone's basket. Instead good rest, worrying to be right rather that to make money, sitting it out (implying patience) and learning from mistakes are emphasised time and again as the most important factors to success. So I wonder, has the game evolved or Livermore didn't know his stuff?
  • #85
  • Jul 18, 2015 2:20pm Jul 18, 2015 2:20pm
Quoting Davit
Wrong it is your mind.
Exactly. You can make 1-3 pct and even more on four out of five days in a week on a USD 200 account, trading micro and mini lots. And if you do the math, at this rate you'd grow to multimillionaire within several years. Problems start, however, as account and position size grow. Fear takes over and trading turns into gambling, revenge trading and self-destructive decisions. Every trader has to deal with this, and at the root of the problem lies disbilief that one is capable of making big money just like that, belief that you don't deserve it or money is made the hard way only, and a discomfort at having real tangible amounts of money to risk and make, etc. The intuitive mind, driven by fear, takes over and wreaks havoc on the trading account. When the threshold of significant money is reached (be it 1K or 50K), trading has to become a spiritual journey to self control, mindfulness, humility and commitment to improving despite very strong unpleasant feelings.This is the constant condition of people trading money that they perceive as significant. You always have to be aware of your subconscious mind that wants to get out of this emotionally very unpleasant and tiring business and keeps looking for opportunities to sabotage your trading. It is a constant challenge and adaptation. So if you say there are no secrets, that is right in the technical sense -- just catch tight entries, hold winners and exit losers immediately. But the real secret is not technical, but psychological/spiritual -- feeling unattached, blessed and confident in one's ability to handle significant amounts of money as if it was not very important, having a bigger mission with the money made, etc. And that is really a secret, because for every person this will be individual and very diverse depending on one's personality.
"To the busy day / To the idle play"
  • #86
  • Jul 18, 2015 2:44pm Jul 18, 2015 2:44pm
I trade stocks, futures, options and forex. Why? I don't force trade. I cut losses when I feel it's wise to do. I always trade with momentum and trend. I don't measure my return daily. I evaluate setups and returns at the end of the week. I use 1:300 margin. Is it high? I don't know. I have setup 5 days before an exclusive trade explorer on FF to keep track of my strategy and trades.

If you are psychologically strong, you will do well. YOU MUST NOT FORCE TRADE AND DO NOT BE GREEDY. CLOSE TRADE AT PROFIT. EVERYTHING GOES UP, COMES DOWN. THERE IS ALWAYS A BULL MARKET IN OTHER PAIR. DON'T MARRY A SINGLE PAIR.
  • #87
  • Jul 18, 2015 10:17pm Jul 18, 2015 10:17pm
Some people say that money management is all that matters but I disagree. Money management is very important buuuttt, if you have no system and just jump in and out of trades with no method than money management will just make you broke a bit slower.

I've read books where they say that money management is the biggest thing and trade selection is tiny. Well that wasn't how it worked for me at all. My money management was ok but I had no plan with trade selection and I still went broke because I was constantly losing, getting out of winning trades, staying in losing trades and selecting losing trade opportunities over winning ones. Good trade analysis will get you into the good trades and help you stay in the winning trades for longer, money management won't do this for you, it will just allocate your capital effectively and safely.

I remember reading a book where the famous "Commodities Corporation" would interview potential traders and get them to outline in detail their trade selection process, money management etc in different market scenarios. They didn't want to steal their ideas, they just wanted to see if they knew their trading styles back to front because if you don't then you will fail at live trading and/or you will fail when the markets get tough. You need to know what the trade set ups you look for are, where do you place your stops, where to you place your targets, do you use trail stops, what do you do if it comes through your stop then becomes a potential trade again. Are you a trend trader, are you trading turning points? Too many novice traders just place trades on a whim.
  • #88
  • Jul 19, 2015 6:10am Jul 19, 2015 6:10am
Quoting feinan
My secret is: - Trade a pair once only in a day

I'm very surprised to see this listed as a "secret of success".

It seems to imply that whenever the first trade of the day produced by any particular pair isn't such a great one, or is a losing one, but it's followed by several very successful potential trades, all of the potentially winning trades are arbitrarily excluded?

I can see it making sense if you're trading (for example) the "London opening range breakout", which can only materialize once a day, but otherwise it's pretty hard to envisage it being a beneficial rule?

I prefer to prove that a method has a statistical edge over the market and a resulting net positive expectation, and then apply it as often as I can.
  • #89
  • Jul 19, 2015 6:25pm Jul 19, 2015 6:25pm
Quoting Standov
{quote} - show me a leading indicator, then watch it repaint. I have spent 5 years watching charts. It takes {quote} It takes time to learn the moves of bars and volumes (for those about to comment on Volume, yes I know, i use at as an indicator as well (not true volume)). Letting your profit run and cut your losses, might work, but how about when the price reverses and moves to your entry point? do you hold, close or hold your breath? Stop losses are nice, moving SL's nicer, but how about that small reverse that tips you out by 1 point, then flies...
leader indicators meant drawing tools like ... TL , Fibo , EW , HCP ,
  • #90
  • Jul 20, 2015 6:52am Jul 20, 2015 6:52am
Quoting analyst786
{quote} leader indicators meant drawing tools like ... TL , Fibo , EW , HCP ,
Even trend lines are lagging indicators, same with Fibo. Who says the price is going to bounce off the 61.8 or the 50?
Second star to the right, and straight on 'til morning
  • #91
  • Jul 20, 2015 1:31pm Jul 20, 2015 1:31pm
Quoting Standov
{quote} Even trend lines are lagging indicators, same with Fibo. Who says the price is going to bounce off the 61.8 or the 50?
. Is there a better indicator than the actual price chart? It shows you all you need to see about direction -- trending highs/lows/opens/closes, important levels, expanding and contracting ranges, sideways, sideways up or sideways down -- everything. If an indicator is described as "leading" like stochastics, money flow index and the like -- all it does is interpret sideways or slowing price action as a sign of reversal and will start pointing for one. But as soon as the trend action resumes, it says "sorry mate my bad" and adjusts itself to what happened while those you believed it will likely take a loss. But you don't need a lagging or guessing indicator to see changes in the behaviour of buyers and sellers. No indicator will ever give you the desired "secret edge". What you need is to see what is taking place, which players are dominating based on their profitable positions and how others are responding. And the most important thing and edge is what you're saying to yourself when you watch the market and whether that corresponds to what the big players (or, more precisely, their algos) are saying to themselves.
"To the busy day / To the idle play"
  • #92
  • Jul 20, 2015 5:26pm Jul 20, 2015 5:26pm
Quoting StopRunFx
{quote} . Is there a better indicator than the actual price chart? It shows you all you need to see about direction -- trending highs/lows/opens/closes, important levels, expanding and contracting ranges, sideways, sideways up or sideways down -- everything. If an indicator is described as "leading" like stochastics, money flow index and the like -- all it does is interpret sideways or slowing price action as a sign of reversal and will start pointing for one. But as soon as the trend action resumes, it says "sorry mate my bad" and adjusts...
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #93
  • Jul 25, 2015 9:06pm Jul 25, 2015 9:06pm
PRICE AND VOLUME.
Trading 24/h
  • #94
  • Jul 25, 2015 9:09pm Jul 25, 2015 9:09pm
Quoting StopRunFx
{quote} . Is there a better indicator than the actual price chart? It shows you all you need to see about direction -- trending highs/lows/opens/closes, important levels, expanding and contracting ranges, sideways, sideways up or sideways down -- everything. If an indicator is described as "leading" like stochastics, money flow index and the like -- all it does is interpret sideways or slowing price action as a sign of reversal and will start pointing for one. But as soon as the trend action resumes, it says "sorry mate my bad" and adjusts...
Second star to the right, and straight on 'til morning
  • #95
  • Jul 26, 2015 2:04am Jul 26, 2015 2:04am
The best edge is no edge (:


Inserted Video
  • #96
  • Sep 8, 2015 3:10am Sep 8, 2015 3:10am
The great Bruce Lee told us all what to do many years ago -

"Empty your mind, be shapeless and formless".

Seriously, study his work and what he said (he was so much more than a Hollywood martial artist/actor).

His main points are all to do with paradoxes and contradictions, hmm, just like the markets.

Here's some more advice from the great man -

"Like everyone else you want to learn the way to win. But never to accept the way to lose. To accept defeat — to learn to lose — is to be liberated from it.

Once you accept losing, you are free to flow and to harmonize. Fluidity is the way to an empty mind. You must free your ambitious mind and learn the art of losing."
Road To Wisdom? To err and err and err again, but less and less and less...
  • #97
  • Sep 8, 2015 3:16am Sep 8, 2015 3:16am
Question asked of Bruce Lee: What is the highest technique you hope to achieve?

Lee's answer: To have no technique.
Road To Wisdom? To err and err and err again, but less and less and less...
  • #98
  • Sep 8, 2015 3:18am Sep 8, 2015 3:18am
More Bruce Lee (slightly adjusted for trading)

A good trader does not become tense, but ready. Not thinking, yet not dreaming. Ready for whatever may come.

When your opponent expands, you contract. When he contracts, you expand.

When there is an opportunity, I do not hit, it hits all by itself.

-------------------------------------------------------------------------------------------------------------------------------------------

I've used the expanding/contracting idea for really good profits.

I'd strongly advise people to study the man, such a shame he was taken from us at such a young age.
Road To Wisdom? To err and err and err again, but less and less and less...
  • #99
  • Jan 19, 2016 6:33pm Jan 19, 2016 6:33pm
Hi all!

Some of these 'secrets' I'm sharing below I learned from Michael Hudlestone, or "The Inner Circle Trader" (https://theinnercircletrader.com/). He share's very good material and free. He changed the way I see the market today.

After about 4 yrs trading FX, I'd like to share some 'secrets', or 'edges' ... as you wish. Here it goes:

A. Trade with the trend. How you make your trend calcultaion doesn't matter so much. But have some trend following rules on your system. Prefer the daily or higher TF.

B. Always use stop loss (not so tight) knowing exaclty how much you're risking per each trade. Give the market as space as you could, so trade small.

C. Don't lose time with indicators, oscilators and fancy charts. If you're a technical trader, just learn the basics (Dow Theory) and just some moving averages and you should be good.

D. To trade with the trend with good R/R ratio, you need to get in when price goes against the current trend. On a daytrade example, if daily trend is up, look for intraday pullbacks to buy as cheaper as possible at specific times of day. Look forward to get the full daily range (ADR indicator is good for this application).

E. Key levels of support and resistance. This is very important and there's where the best RR (risk/reward) should occur, in my opinion. Watch out for round numbers.

F. Understand the relation of time and price as the trading day goes by (when tops and bottoms usually occurs).

G. Trade 1 simple strategy on various pairs OR trade varios strategies on 1 pair.

H. Know the USDX (Dollar Index) behavior and path of least resistance. The FX pairs should move according to it.

I. News means volatility and liquidity into the market. Key levels will be reached at these times of day.

J. Look for price levels where lots of stop loss orders should be placed. Players need to make the price reach these levels to pair their orders.

K. Right down 3, 5 or 10 simple and obvious rules to trade your system at MsWord, print it and let it at your desk. Sounds dumb, but it improves your discipline.
  • #100
  • Oct 24, 2017 1:12pm Oct 24, 2017 1:12pm
hi are you an mt4 coder here ready to work for free plz pm me , for the ea coding of a system very profitable and good for account management as shown in my explorer
thanks
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