Develop Your Edge

[Chuck Krug]

One man's chopfest is another man's dream scenario.

 

[traider]

The trend is your friend

 

[traider]

Fibs don't fib. Works until they don't

 

[8_Bit]

Forgive me my ignorance, no idea who this guy is.

But I struggle to see what use to others is stuff like - "here we have opening mouth of bollinger band and price going up, we like to trade that, but when price is hugging 10MA and mouth is not opening it's a chopfest and we don't like to trade that".

It is impossible to replicate or verify that. The common bit of wisdom added at the end "know when to trade" doesn't make the whole thing much more credible.

most of what you see will always be story, fluff and razzle dazzle. Trading strategies are sometimes so simple (after being developed over years and years) that they boil down to 1 or 2 good indicators and a very good filtration system. Anything with too many lines on the chart is someone either trying to "hide their sauce" but get paid to teach you how to trade or some charlatan trying to hypnotize. The game comes down to risk management. Find your core philosophy manage your risk until you can develop your system and once you're profitable compound.

 

[Chuck Krug]

The thing is, the comment about stepping on the gas when conditions are right, hit home for me.
My win/ loss rate is really good, but I feel like I should be making more.
My goal is to scalp when it's a choppy day (and not try to predict if it's going to be a choppy day at the start, I find this too hard, but let the action tell me) And stay longer into trades when it's trending more.
Maybe I should start a discussion about this?

 

[easymon1]

The thing is, the comment about stepping on the gas when conditions are right, hit home for me.
My win/ loss rate is really good, but I feel like I should be making more.
My goal is to scalp when it's a choppy day (and not try to predict if it's going to be a choppy day at the start, I find this too hard, but let the action tell me) And stay longer into trades when it's trending more.
Maybe I should start a discuccion about this?

I think you should start a discussion about this.

 

[Bad_Badness]

Forgive me my ignorance, no idea who this guy is.

But I struggle to see what use to others is stuff like - "here we have opening mouth of bollinger band and price going up, we like to trade that, but when price is hugging 10MA and mouth is not opening it's a chopfest and we don't like to trade that".

It is impossible to replicate or verify that. The common bit of wisdom added at the end "know when to trade" doesn't make the whole thing much more credible.

You nailed it on using someone else system. Unless you know all the details, especially the exceptions and their combinations, you lose enough "edge" that you end up neutral or worse.

It is like having a sharp knife. Yeah you can "Ginsu" thin slice a tomato, but it does not mean you can prepare a meal. Indicators are just one of many parts of an "edge". Chopfests and breakouts require two different entry-exit tactics to be optimal. Indicators only help part of that.

 

[Frederick Foresight]

I think the guy in the video was referring to "environment" or conditions in the generic sense. That is the meaningful reminder I got out of the video. I don't use his indicators, nor do I need to in order to benefit from the reminder to either dress appropriately depending on the weather or not go out at all. Sometimes you just need to hear it again, no matter how obvious it may be.