hmm.no edges in the markets

[MadeMan]

Quote from Lucrum:

And I'd choose lucky over skilled anytime.

Knowledge is forever ,

luck too ?

 

[oraclewizard77]

How can luck help your long term. Get an edge then use skill to not make stupid mistakes. Price action reading is an edge.

Quote from Lucrum:

And I'd choose lucky over skilled anytime.

 

[MadeMan]

Quote from oraclewizard77:

How can luck help your long term. Get an edge then use skill to not make stupid mistakes. Price action reading is an edge.

I would say that anything you can learn is a skill
So Reading PA is a skill

However , if you are the only one who can do that its an Edge

Like if you are the only one how Knows the Alphabet in your town
And therfore the only Person who can read , u could use that skill
To your advantage and therfore have an Edge ...

 

[Redneck]

Quote from Trader.Fighter:

Is ability to read price an edge or a skill ?

Both

Also eliminates the need for averaging down

RN

 

[Redneck]

Quote from NoDoji:

I'm not sure I understand what you disagree with.

This Ma'am

Quote from NoDoji:

I've never met a price action trader who doesn't accept as fact that averaging down can be an excellent method of trading in experienced hands.

experienced hands, or not

Take the small loss, or two, or three - and get right with price

I know you know this, which is why it confuses me

eta, my concern is your ego is rearing its ugly head

RN

 

[nakachalet]

hi nodoji:

you have been searching diligently for some kind of holy grail in trading, as you described some few years back, isn't that correct according to your personal declarative statement?

just curious if you are any closer to finding your personal holy grail as yet?

warm regards

nakachalet@gmail.com

Quote from NoDoji:

For CL, I could never trade it the way I do if I was managing OPM. I'm an intraday scalper, and my method of trading it becomes more difficult above 6 lots because of issues with fills and slippage.

But that's not significant size. If I managed OPM and wanted to swing CL longer term, I'd likely be positioning 100 or more lots at a time. So I'd be accumulating or distributing during pullbacks and which is both with-trend trading and averaging down. I'd certainly never consider fading a trend, which is a dangerous thing for any retail trader to do.



I'm not sure I understand what you disagree with. I trade both ways and only upon a confirmed signal based on an in-plan setup. I know my odds and my R:R in advance of every trade. Also, I know in advance what I will do next if stopped out. This is an important little step that prevents me from over-trading/revenge trading.

 

[Lucrum]

Quote from MadeMan:

Knowledge is forever ,

luck too ?

No, I was being a little facetious.

Quote from oraclewizard77:

How can luck help your long term.

It probably won't

...Price action reading is an edge.

Good, then I have one.

 

[NoDoji]

Quote from Redneck:

This Ma'am




experienced hands, or not

Take the small loss, or two, or three - and get right with price

I know you know this, which is why it confuses me

eta, my concern is your ego is rearing its ugly head

RN

I'd take the small loss upon violation of the thesis for the trade. I think there's misunderstanding. If there's a defined uptrend and I need to get 50 lots of oil positioned long, I would average down during the pullback phase. As a small retail trader I have no reason to average down; I simply let price sweep me into the resumption of the trend as the pullback ends and price turns. Trading small size, the slippage is minimal. Either way, if the trend throws a reversal signal I'd take the small loss.

 

[NoDoji]

Quote from nakachalet:

hi nodoji:

you have been searching diligently for some kind of holy grail in trading, as you described some few years back, isn't that correct according to your personal declarative statement?

just curious if you are any closer to finding your personal holy grail as yet?

warm regards

nakachalet@gmail.com

I forged (not found) my personal holy grail of trading between the summer of 2009 and summer of 2010. It required an unbelievable amount of work (thousands of hours). It's based on simple price action concepts - support and resistance and how price reacts to those levels. It's worked consistently for 3 years now.

 

[Lucrum]

Quote from NoDoji:

I forged (not found) my personal holy grail of trading between the summer of 2009 and summer of 2010. It required an unbelievable amount of work (thousands of hours). It's based on simple price action concepts - support and resistance and how price reacts to those levels. It's worked consistently for 3 years now.

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