My nq price action method

[MarketAddict]

Edges - lets talk about edges;

A true edge never cease working

A true edge works in any PA environment


Having said this..., IM (not so humble) O people place way too much emphasis on so called "edges"


And here's why....,

No matter the edge - there is..., and always will be - one constant..., and overriding component to trading

Uncertainty

================

Wrap yer head around uncertainty - you'll possess the ultimate..., and never ending - edge

So simple..., yet not so easy

===============

Lost count of how many so called "edges" have gone the way of the dinosaur

Soes bandits
Floor traders
Price inefficiencies arb'd into oblivian
Data speeds (HFT)


Yet through it all..., and since the beginning - uncertainty remains the one constant

And I..., for one..., am Forever Thankful for that

RN

RN,

I'm not sure what u mean by uncertainty? How can uncertainty benefit a trader? Just curious.. Maybe I'm not reading your post right who knows..

 

[jsmacksem]

RN,

I'm not sure what u mean by uncertainty? How can uncertainty benefit a trader? Just curious..

Maybe he meant embrace it instead of fighting it. Learn to be friends with uncertainty since it's always there.

I think...

 

[Redneck]

RN,

I'm not sure what u mean by uncertainty?

How can uncertainty benefit a trader?

Just curious..

Hey MA

Well Sir…, allow me to rattle your trading foundation (beliefs) a bit

======================


Every future tick – whether it ends up being higher…, lower.., or the same – as the current tick – is unknowable

Every future bar – no matter the chart time frame – whether it will end up closing higher…, lower…, or the same – as the previously closed bar – is unknowable

The outcome of every trade we enter – whether it ends up working…, or breaking down – is unknowable

Whether one’s “edge” results in the next trade being a profitable trade…, or a losing trade – is unknowable

Whether the day will end up being an up day…, or down day – is unknowable

Whether the day will be a trending..., or rangy day - is unknowable

Whether the day will have momentum.., chop..., or some combination - is unknowable

Where price will end the day – is unknowable

That..., prior to the gov outlawing the shorting of financials..., they would - was unknowable

That shtf in 2007 and panic ensued - was unknowable (but not unexpected)

====================

In short;

Every aspect…, of every future happening…, event…, occurrence…, result…, outcome…, when..., how..., path - price will take to get from A to B – either in the mkt…, and/ or – pertaining to trading

Is completely unknowable

==================

Everything unknowable – is uncertain…, and of course uncontrollable


So…, given the mkt / trading is completely uncertain

How the heck does one live…, ultimately thrive – in this environment of never knowing..., of never being in control

===============================

Most..., simply reject the fact that the mkt / trading is uncertain – often times vehemently…, even to the point of self delusion

These folks end up in a ceaseless loop – and never able to progress further

At best they are marginally profitable - if at all


Then.., there are some that get to the point of appreciating…, but not completely accepting that the mkt / trading is completely uncertain

This often scares the shit out of them enough..., that it causes them to freeze / hesitate / vapor lock – and of course never progress

This type of trading is quite stressful - and ultimately does a trader in - as it is unsustainable..., burns through emotional capital quickly


And of course others get to varying degrees between completely rejecting / and appreciating..., but not accepting


===============

For the ones who are able to completely accept the uncertainty of the mkt / trading


Total and complete trading freedom

Neither winners…, nor losers matter

No hesitation entering the next signal

No stress…, no fighting the mkt / any given trade…, no delusional-ness..., no burning of emotional capital


Setups / signals / edges - are a dime a dozen (not to mention any names - but someone had an epiphany on this very sentence recently )


Focus is only on that which can be known / controlled – our self / our actions

We simply follow our routine(s)…, do our job

Trader mindset nirvana

================



Indisputable fact - the mkt..., and trading..., are completely uncertain

Reject this to what ever degree you like - at your own peril

RN

 

[Redneck]

Maybe he meant embrace it instead of fighting it. Learn to be friends with uncertainty since it's always there.

I think...

You think..., yet you gave a thumbs up to my post on uncertainty

I made a comment where 2015 could be yours

Do not allow that to go to your head


=================


You need to think through every aspect..., every nook..., every cranny..., every crevasse comprising the system of you the trader

Identify it..., think through it..., know it..., own it

Anything and everything you are not sure about - ask questions


The mkt possess the uncanny ability of finding every one of our weaknesses..., then mercilessly and incessantly exploiting it / them


Mkt does not suffer fools well..., or for long JS

Don't allow yourself to be one - otherwise 2015 will be your personal living hell

RN

 

[MarketAddict]

Hey MA

Well Sir…, allow me to rattle your trading foundation (beliefs) a bit

======================


Every future tick – whether it ends up being higher…, lower.., or the same – as the current tick – is unknowable

Every future bar – no matter the chart time frame – whether it will end up closing higher…, lower…, or the same – as the previously closed bar – is unknowable

The outcome of every trade we enter – whether it ends up working…, or breaking down – is unknowable

Whether one’s “edge” results in the next trade being a profitable trade…, or a losing trade – is unknowable

Whether the day will end up being an up day…, or down day – is unknowable

Whether the day will be a trending..., or rangy day - is unknowable

Whether the day will have momentum.., chop..., or some combination - is unknowable

Where price will end the day – is unknowable

That..., prior to the gov outlawing the shorting of financials..., they would - was unknowable

That shtf in 2007 and panic ensued - was unknowable (but not unexpected)

====================

In short;

Every aspect…, of every future happening…, event…, occurrence…, result…, outcome…, when..., how..., path - price will take to get from A to B – either in the mkt…, and/ or – pertaining to trading

Is completely unknowable

==================

Everything unknowable – is uncertain…, and of course uncontrollable


So…, given the mkt / trading is completely uncertain

How the heck does one live…, ultimately thrive – in this environment of never knowing..., of never being in control

===============================

Most..., simply reject the fact that the mkt / trading is uncertain – often times vehemently…, even to the point of self delusion

These folks end up in a ceaseless loop – and never able to progress further

At best they are marginally profitable - if at all


Then.., there are some that get to the point of appreciating…, but not completely accepting that the mkt / trading is completely uncertain

This often scares the shit out of them enough..., that it causes them to freeze / hesitate / vapor lock – and of course never progress

This type of trading is quite stressful - and ultimately does a trader in - as it is unsustainable..., burns through emotional capital quickly


And of course others get to varying degrees between completely rejecting / and appreciating..., but not accepting


===============

For the ones who are able to completely accept the uncertainty of the mkt / trading


Total and complete trading freedom

Neither winners…, nor losers matter

No hesitation entering the next signal

No stress…, no fighting the mkt / any given trade…, no delusional-ness..., no burning of emotional capital


Setups / signals / edges - are a dime a dozen (not to mention any names - but someone had an epiphany on this very sentence recently )


Focus is only on that which can be known / controlled – our self / our actions

We simply follow our routine(s)…, do our job

Trader mindset nirvana

================



Indisputable fact - the mkt..., and trading..., are completely uncertain

Reject this to what ever degree you like - at your own peril

RN

Ok.. It makes sense now

 

[ubo]

Dear Redneck,

you had mentioned "edge" in a number of recent posts, for example:

"A true edge never cease working."
"A true edge works in any PA environment."
"Lost count of how many "so called" edges have gone the way of the dinosaur."
"... edges are a dime a dozen"

So a true edge is not a "so called" edge?
For edges that are a dime a dozen, are they true edges or "so called" edges?

I know you value psychological aspects of trading above all else but can you elaborate on how one should go about looking for an true edge, how to distinguish between a true edge and a so-called edge and any other further thoughts regarding the development of the edge.

Thanks in advance and happy holidays.

PS: Your post on uncertainty is one of the best piece of writing I have ever seen on ET. How does one develop such trading insight? Would also appreciate if you could further elaborate on how one can take fully advantage of the uncertainty. Thanks.

 

[jsmacksem]

You think..., yet you gave a thumbs up to my post on uncertainty

I made a comment where 2015 could be yours

Do not allow that to go to your head


=================


You need to think through every aspect..., every nook..., every cranny..., every crevasse comprising the system of you the trader

Identify it..., think through it..., know it..., own it

Anything and everything you are not sure about - ask questions


The mkt possess the uncanny ability of finding every one of our weaknesses..., then mercilessly and incessantly exploiting it / them


Mkt does not suffer fools well..., or for long JS

Don't allow yourself to be one - otherwise 2015 will be your personal living hell

RN

When I wrote "I think" I wasn't doubting the truth about uncertainty. I meant--which I should have clarified---that it was just my 2 cents and hopefully you'd be along to answer.

I hope your comment didn't go to my head either. I am hopeful for 2015 though.

I'm building/researching, and on that path of owning mine.

It's just taking a while.

I really don't want to approach this business as a fool, so as questions arise I'll be sure to ask.

- JS

 

[Redneck]

Dear Redneck,

you had mentioned "edge" in a number of recent posts, for example:

"A true edge never cease working."
"A true edge works in any PA environment."
"Lost count of how many "so called" edges have gone the way of the dinosaur."
"... edges are a dime a dozen"

So a true edge is not a "so called" edge?
For edges that are a dime a dozen, are they true edges or "so called" edges?

I know you value psychological aspects of trading above all else but can you elaborate on how one should go about looking for an true edge, how to distinguish between a true edge and a so-called edge and any other further thoughts regarding the development of the edge.

Thanks in advance and happy holidays.

PS: Your post on uncertainty is one of the best piece of writing I have ever seen on ET. How does one develop such trading insight? Would also appreciate if you could further elaborate on how one can take fully advantage of the uncertainty. Thanks.

Ubo


Before any reply - I want to be respectful that this is Slugar's journal


Slugar

You okay with continuing on this direction (tangent) for the time being - or would you prefer we get back on course

You know me - you lead..., I follow

RN

 

[slugar]

Yes sir fire away RN!

 

[Redneck]

Yes sir fire away RN!

Well then

RN