What kind of Edge you have?

[Speculate]

I do agree with you to a certain extent, because I myself have not found any price action which is profitable in the 5 minute or the 1 minute time frame. But I sometimes wonder how some traders trade ES intraday profitably. Not a year, but profitable for many years.

Through diligent hard work and effort. Lots of screen time watching and learning. Testing, taking hits and learning how the market transfers money from the scared to the diligent. You will NEVER (imo) achieve that testing some 'candle pattern', see good paper results, trade live, fall on your face, try another pattern etc..... Youre just focusing your mind on what you want the market to do in the context of your pattern. That TA pattern only exists in your eyes. Your shutting yourself off from what the market could possibly be really telling you.

There are plenty of successful traders out there making bags without what I have defined as an edge. They have talent that comes through hard effort. In fact, I'd go so far as to say those with talent can make more than those who are simply applying what I have defined as an edge previously.

 

[Speculate]

I don't trade ES, but what if you had sold ES last Friday at around 2073 at 09:50 based on the price movement on this 5min chart? Just one very basic price movement that you can find any day, now or 100 years ago, and in any time frame, in futures, stocks, currencies etc.

Sorry, I stand corrected.

Obvious really isnt it. All one has to do is wait for that to happen every day, size up, and then life is milk and honey. How come I didnt realise that before? After all, it always works. Right?

Better keep that one under your hat pal. All those HFT chaps will get pissed when they realise they spent mills on co-lo when all they needed was e-signal and an IB account!!

 

[JTrades]

Sorry, I stand corrected.

Obvious really isnt it. All one has to do is wait for that to happen every day, size up, and then life is milk and honey. How come I didnt realise that before? After all, it always works. Right?

Better keep that one under your hat pal. All those HFT chaps will get pissed when they realise they spent mills on co-lo when all they needed was e-signal and an IB account!!

Key word: wait.

Not necessarily every day.

Who said it always works?


Pretty sure @learner2007 in genuine.

 

[marketsurfer]

Funny! When all these winning traders posting are tested, they stop winning. I worked with a hedge fund that trolled elite for talent back in 2003-2005. We had over 100 traders thru the door-- all vetted with proven track records-- only one survived the screening and earned profits---his method was nothing like what anyone else did , while legal, it was non replicatable and relationship based.

Thats my experience.

 

[wrbtrader]

I may not have stated all the possible edges, but it would be good if everyone could tell specifically what type your edges are.

Also, does your edge(s) work temporarily or permanently (since you started using them till now) ?

You forgot the most common edge for those not using automation...

The trader because the trader needs to be able to manage all the different components of a trading plan assuming all the components are in place.

Discipline, Risk Management, Stress Management, Trade Signals, Position Size Management, Proper Trading Environment, Proper Capitalization, Proper Collaboration Tools, Proper Trade Platform, Proper Computer Tools and many others.

You gotta manage the above because they are important components of your trading plan. If you pretend its all about trade signals and nothing else...you're doomed.

 

[Redneck]

I worked with a hedge fund that trolled elite for talent back in 2003-2005.

We had over 100 traders thru the door-- all vetted with proven track records-- only one survived the screening and earned profits--

Agreed - the hedge fund's vetting process sucked - hope their trading was better


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

And to anticipate your response


You think I can head into Monday resting on what I did last Friday..., last week..., last month..., or year

No way in hell

Sure you've seen the - past performance is no way indicative of future results


This monkey's next performance will be at 9:30 tomorrow

LOL

RN

 

[Smart Money]

Funny! When all these winning traders posting are tested, they stop winning. I worked with a hedge fund that trolled elite for talent back in 2003-2005. We had over 100 traders thru the door-- all vetted with proven track records-- only one survived the screening and earned profits---his method was nothing like what anyone else did , while legal, it was non replicatable and relationship based.

Thats my experience.

Send them to my Journal...I want to work in the financial sector. Unfortunately I can't post during the weekdays for the next week or so because I'm an engineer and I am in the field working on a project (which really sucks in this heat). Finding the time to access the markets and blog about it real time has always been hard with a day job. It's best to start with the latest predictions because I revived my blog after a 5 year hiatus...was demoralized from taking a big hit without a stoploss in place and then started getting pressure from work about being online too much. The older stuff also shows good results, but that's hard to fact check.

 

[marketsurfer]

Send them to my Journal...I want to work in the financial sector. Unfortunately I can't post during the weekdays for the next week or so because I'm an engineer and I am in the field working on a project (which really sucks in this heat). Finding the time to access the markets and blog about it real time has always been hard with a day job. It's best to start with the latest predictions because I revived my blog after a 5 year hiatus...was demoralized from taking a big hit without a stoploss in place and then started getting pressure from work about being online too much. The older stuff also shows good results, but that's hard to fact check.

That was a long time ago. I am not endoresing anyone, but topstep is the only firm that i know of right now that lets you directly test yourself in a potential funding environment.

 

[marketsurfer]

Agreed - the hedge fund's vetting process sucked - hope their trading was better


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

And to anticipate your response


You think I can head into Monday resting on what I did last Friday..., last week..., last month..., or year

No way in hell

Sure you've seen the - past performance is no way indicative of future results


This monkey's next performance will be at 9:30 tomorrow

LOL

RN

Im not saying it cant be done. Just explaining my direct experience with other traders. surf

 

[i960]

Im not saying it cant be done. Just explaining my direct experience with other traders. surf

So what happened to the other 99 guys with *proven* track records?