A trading edge is the easiest thing?

[Pita]

Quote from Nexen:

Most claim trading is hard and even more believe it. Perhaps knowing what to do is, but once this is found it is not.

Trading is actually very simple.

The problem lies when the market forces you to do exactly what you should not do. It gets inside your head and it trashes your plan to pieces.

Here are the key elements to profitable trading.

* Don't trade what you think but what you see, react to what price did.

* Buy low sell high, this requires massive patience.

* Cut the losses short, let the winners run.

* Identify the various trends learn to fade the insignificant ones, don't fade the ones that carry the actual steam.

* Do not use lagging indicators, trade support and resistance. Learn to identify turns without oscillators, learn to spot oversold-overbought via price action.

That is about all you need to start.

Unfortunately, the implementation is much harder but with time and plenty of dedication you can make it happen.

since this post was critisized I do fully agree and second every point mentioned as true and valuable. Buy low and sell high however is not on my list unless I consider an investment.

 

[Nexen]

Quote from Pita:

since this post was critisized I do fully agree and second every point mentioned as true and valuable. Buy low and sell high however is not on my list unless I consider an investment.

Let them criticize it, I don't mind, I know I can trade, this is what I use, but this board is very negative.

 

[indexer]

That was a good post Nexen.

 

[TradingPilot]

I agree with the OP in that finding an edge is not the hardest part. be it a great edge or barely and edge at all.

Where 90% screw up is that all trading methodologies go through periods of drawdowns that is part of trading. The lack of discipline and fear cause the trader to change his methodology completely and he will always get caught in a drawdown period and again quit and change his methodology again.

Consecutive losers are a part of this game.

 

[OddTrader]

A trading edge is the easiest thing --- to disappear? Yes!

 

[TraderZones]

Quote from Nexen:

Tradezones,

I went over to the P/L journal looking for your nick and guess what, I could not find it!

You have GOT to be joking!!!!!!!!!!

You mean if someone posts unsubstantiated blotters, they have arrived? I knew your thought process was simple, but give me a break!!!

This was even more clueless than your "all you need to do" post.

So, do all the people you read about in WSJ put blotters into ET?? This is too much.

 

[Nexen]

Quote from TraderZones:

You have GOT to be joking!!!!!!!!!!

You mean if someone posts unsubstantiated blotters, they have arrived? I knew your thought process was simple, but give me a break!!!

This was even more clueless than your "all you need to do" post.

So, do all the people you read about in WSJ put blotters into ET?? This is too much.

Ok I give up, you are too negative.

Maybe you need a woman.

 

[TraderZones]

Quote from Nexen:

Ok I give up, you are too negative.

Maybe you need a woman.

I have a woman.

Negativity has nothing to do with it. Your first post was very uninformed. At least one other quite agreed. But you need to do a whole lot of looking before trading.

 

[Nexen]

Quote from TraderZones:

I have a woman.

Negativity has nothing to do with it. Your first post was very uninformed. At least one other quite agreed. But you need to do a whole lot of looking before trading.

There are many ways to trade profitable, just because we don't agree does not mean I can't get it done.

Or is it your way or the highway ?

 

[Bolimomo]

I have re-read and re-read again the original post on the very first page. It seems that the key of discussion is (or should be) around the "Edge".

And from this post:

Quote from Nexen:
Here are the key elements to profitable trading.
* Don't trade what you think but what you see, react to what price did.
* Buy low sell high, this requires massive patience.
* Cut the losses short, let the winners run.
* Identify the various trends learn to fade the insignificant ones, don't fade the ones that carry the actual steam.
* Do not use lagging indicators, trade support and resistance. Learn to identify turns without oscillators, learn to spot oversold-overbought via price action.

That is about all you need to start.

I agree with #1 trade what you see not what you think.
#5 I personally use many indicators, but I respect those who trade naked charts.

As for #2, #3, #4... #3 and #4 seems obvious and you read them in just about every trading book:

"Cut your losses short, let the profits run", "trade with the trend".

And #2 is the rule of the game: buy low and sell high. It is the physics. You can't make money otherwise.

It's like telling all tennis player trainees: all you need is to hit the ball and get it over the net, within bounds. That's it!

So where is the discussion on the "Edge"?

Are we just stating the obvious?

I agree with TraderZones on the oversimplication. The 5 points are "all you need". Like playing tennis: "all you need" is to hit the ball and get it over the net, within bounds.