What is your edge ?

[NoDoji]

Quote from oilfxpro:

If you knew in advance the set ups with 1:5 risk reward , you would be a trillionaire by now. .You sound like the most intelligent E T poster.

Quote from oilfxpro:

Statistical homework on intraday noise is unlikely to produce any reliable information .

Quote from oilfxpro:

You would be trading in the future , ahead of that move trying to figure the one big move out of 500 moves daily.

What is the probability of you picking that one out of 500 daily moves with a small stop?

Are you wishing to obtain some sort of knowledge as a result of your posts here?

What is your edge? You haven't answered that question, but you've dismissed several edges described here in a way that demonstrates complete ignorance of the meaning of "edge" in trading.

If you're a profitable trader, what is the point of dismissing the methods of other profitable traders?

If you're not a profitable trader and you're hoping to get information on edges, what is the point of dismissing the methods of profitable traders?

 

[oilfxpro]

Quote from NoDoji:

Are you wishing to obtain some sort of knowledge as a result of your posts here?

What is your edge? You haven't answered that question, but you've dismissed several edges described here in a way that demonstrates complete ignorance of the meaning of "edge" in trading.

If you're a profitable trader, what is the point of dismissing the methods of other profitable traders?

If you're not a profitable trader and you're hoping to get information on edges, what is the point of dismissing the methods of profitable traders?

No need to be defensive .The posts were merely subjective , only real traders trading in the live market would know their probabilities of success ,before they start.

My edge will probably come from being able to read the context /charts ,be flexible to change sides quickly and trade with the side which is winning at the time , i.e the bears or the bulls .

For a retail trader , to maintain an edge requires a combination of winning game plan , winning position sizing , good risk management , discipline ,flexible approach , higher probability entry , knowing probabilities ,ability to run profits and cut losses, higher risk reward ratios and ability to find low risk entry ,perfect execution without mistakes etc which make a trader ultimately profitable (these are not true edges but just a good trader).

 

[jack hershey]

Quote from TheBlackHand:

Wrong again Walter Mitty. I was on holiday at the time, so although I was on the side lines as you put it, your comprehensions skills leave a lot to be desired.

May I respectfully suggest you don your foil hat and go back into the corner?

Your antagonistic stance has no affect on me as I know you are a fake. You do not display the personality traits of a successful individual. That fact is as clear as day to some of us.

Do you have any examples of your peformance during one of those times you think Donna was late into the opportunity that you took during a non holiday time?

Ohhh.... just call me Walt or Mitt, Mitt is popular these days.

 

[pokito]

Quote from NoDoji:

Yes, the total amount I could lose per trade if my stop loss is hit and I get no more than two or three ticks of slippage is never more than 2% of my trading account value.

NoD,
I think you just gave it away...
Considering your CL stops are usually @20 ticks

20 + 3 = 23 ticks = $230
If,
$230 = 2%
? = 100%
-------------------
? = 230 X 100 /2 = $11500

So, your account size is at least $11,500, may be more but not less....did I get that right?
assumption - you're trading 1 car

 

[cornix]

Quote from TheBlackHand:

Thats a great point.

Its a question of comfort level IMO. Some scalpers will just get out as soon as the momentum stops after a few ticks, then wait for the next asymmetry. Perhaps riding the swing in a few scalps if they see opportunity.

Trying to ride the whole swing from one scalp is going to take either good luck, or more likely a few attempts as the market rotates in all probability - especially in a liquid market like ES which I believe (but could be mistaken) NoDoji refers to. If one is paying retail costs, that could well be expensive over time and youll end up paying for say 5x round trips when you could have done it in 1 and taken the heat. That may not be a sound business proposition.

OK OK I know the man in the foil hat will say he can do it, and the SEC monitor his trades, and he gives millions to the poor yada yada yada, but Im not going to take anything from someone who cant even pay his tax bill. If he was as wealthy as he claims to be, he would have figured out how to pay less tax of course through paying for a good accountant. Clearly he's not quite there yet!

Frankly I tend to just scalp the immediate momentum myself, but I have seen others do as you said: take a few tries to catch the big swing with scalp-like fine-tuned entry... My experience is, it still pays off very well overall, because even if you try say 3-5 times, get 2 losses of 4 ES ticks + comm, 2 breakevens + comm, which would total roughly 11-12 ticks of costs and on the 5th time catch the move of 50 ticks, you still have a much better equity curve shape than if you risk 10 ticks from the start to get the same 50 ticks, because some losses happen there too...

Cannot say definitely which way is better, it seems to be more correlated with particular trader's comfort zone indeed, but both ways "work" if applied consistently.

 

[cornix]

Quote from oilfxpro:

Which trade do you let run and how do you achieve it? you don't know if the market is going to range or trend.

Don't think too much. Just trail your stops and and you will get some sweet runners.

 

[PHOENIX TRADING]

My edge is knowing most of you folks( out there in ET land and beyond) who think you have an edge, is just wishful thinking on your part.

The rest is all about risk control and a bit of luck.

 

[oilfxpro]

Quote from cornixforex:

Don't think too much. Just trail your stops and and you will get some sweet runners.

I do get some sweet runners , but the orignal system targets are to run profits when you catch the big moves.Some of these entries are done with 12 pip stops , and some trades run for 80 pips.

 

[cornix]

Quote from oilfxpro:

I do get some sweet runners , but the orignal system targets are to run profits when you catch the big moves.Some of these entries are done with 12 pip stops , and some trades run for 80 pips.

Glad it works for you... There is really no "right" or "wrong" way to trade as long as you make consistent profits which are reasonable compared to the risk taken.

 

[TheBlackHand]

Quote from jack hershey:

Do you have any examples of your peformance during one of those times you think Donna was late into the opportunity that you took during a non holiday time?

Ohhh.... just call me Walt or Mitt, Mitt is popular these days.

Dear oh dear!

Go back and read the sequence of event again.

There was no exact period under discussion, so I wouldnt have claimed she was late. I said the approach outlined by Oracle would result is missed opportunity. The discussion was a hypothetical scenario of waiting for a pattern against not waiting.

I hope your market comprehension skills are better than your written word comprehension - but I doubt it.

I have no need to post any details of my performance. I find humility rather than ego is the better friend. That lesson you can have for free, although I would have hoped you would have learnt that by your self already. I understand you did once try and trade publicly, and failed in historical fashion.

Now, man up, make a living, and stop living out of your wifes pocket as it is alleged (frankly more believable than your sorry boasts).