Did Your 'Edge' Come Easy?

Quote from Chris_Anonymous:

This question is for anyone who has a viable, tested edge that allows them to consistently profit from the market. :)

How easy was it? Or how hard?

Was it simple or complicated for you?

I don't have an edge yet, but I know that for me so far, it's been hard. Primarily because I complicate things too much. I feel like I'm right around the corner, and it's frustrating at times. God bless the guy I'm working with, because it's probably frustrating for him too!


I would just like to know where others here on ET stand in relation to myself. Considering I don't know anyone in person who trades, I don't know where I stand compared to others!
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No, did not come easy, strange thing is, that my main edge now is something I was trading my first and second year of active trading. I left it cuz i thought it was too simple or there has to be more.

So I took a long 4-5 years walk around the block and finally came back to it. I added a couple filters and added size and it works great.

My suggestion is to stick to something very simple, we complicate this thing more than we need to. Focus on money management, trading size. Trade to your emotional level, if too big, you wont be able to pull the trigger every time you need to.

Also, very important, trade it with real money, even a tiny size. Nothing compares to real live trading with money. What seems doable in paper testing, backtesting or forward testing does not always match up with live-real executions.

Good luck, your asking the correct questions,

EF
 
Quote from Eddiefl:

No, did not come easy, strange thing is, that my main edge now is something I was trading my first and second year of active trading. I left it cuz i thought it was too simple or there has to be more.

So I took a long 4-5 years walk around the block and finally came back to it. I added a couple filters and added size and it works great.
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aaaaaahah...hahah
 
Quote from SnakeEYE:

aaaaaahah...hahah
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I think what is funnier is that you have an avg. of 39 posts per week since you signed up here,


Really?,, Why?

Get a fucking life troll.

EF
 
Quote from Eddiefl:

I think what is funnier is that you have an avg. of 39 posts per week since you signed up here,


Really?,, Why?

Get a fucking life troll.

EF
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aaaahaha

:D :D :D
 
Quote from Eddiefl:

Trade to your emotional level, if too big, you wont be able to pull the trigger every time you need to.

Also, very important, trade it with real money, even a tiny size. Nothing compares to real live trading with money.
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Excellent
 
was the fuking hardest thing I've ever done in my live, and it took me 3 straight full years...but I was spending on average 12h/day there where times when I was wake up even 48 hours

I was passionate driven by the market otherwise I couldn't have made it as there where many ups and downs. I must to say that the downs moments where testing my mind,glad I survive.

Now I know that to be succesful I have to be frightened. My biggest hits have always come after I have had a great period and I started to think that I knew something.

That is why my guiding philosophy is playing great defense. If you make a good trade, don't think it is because you have some uncanny forseight.Always maintain your sense of confidence, but keep it in check.
 
Quote from BSAM:

BTW---Discipline is an edge. So, is money management. Losing traders don't posses these two edges (sometimes).
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No.

Discipline is not an edge, neither is money management. An edge is positive expectancy. Try taking your discipline and your money management to a roulette wheel and see how far they get you. You'll lose sooner or later because at the roulette wheel, your opponent (the casino) has the edge. Your roulette expectation is negative, and all the discipline and money management skill in the universe won't overcome that.

Discipline keeps you from betting (trading) when you have no edge. Money management keeps you from overbetting your edge, assuming you actually have one.

We have a whole forum (Psychology) designed for traders who can't distinguish between lack of discipline and lack of having the necessary edge to begin with. It's pretty sad stuff.
 
Quote from Chris_Anonymous:


With what you said about your signal drying up and getting mixed results, I'm hoping to find a way around that as well. Does it make sense to place stops/entries/exits/targets/etc. based on dynamic conditions rather than number of ticks or something? Like having a stop below support, rather than 2 points away? It seems logical, since this way volatility would be automatically factored in to the trade. This is an idea I keep coming back to.
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Yes, use volatility-dependent position-sizing/stops.
 
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