Develop Your Edge

Discussion in 'Trading' started by Chuck Krug, Jul 1, 2021.

  1. One man's chopfest is another man's dream scenario.
     
    #11     Jul 2, 2021
  2. traider

    traider

    The trend is your friend
     
    #12     Jul 3, 2021
  3. traider

    traider

    Fibs don't fib. Works until they don't
     
    #13     Jul 3, 2021
  4. 8_Bit

    8_Bit


    most of what you see will always be story, fluff and razzle dazzle. Trading strategies are sometimes so simple (after being developed over years and years) that they boil down to 1 or 2 good indicators and a very good filtration system. Anything with too many lines on the chart is someone either trying to "hide their sauce" but get paid to teach you how to trade or some charlatan trying to hypnotize. The game comes down to risk management. Find your core philosophy manage your risk until you can develop your system and once you're profitable compound.
     
    #14     Jul 3, 2021
  5. The thing is, the comment about stepping on the gas when conditions are right, hit home for me.
    My win/ loss rate is really good, but I feel like I should be making more.
    My goal is to scalp when it's a choppy day (and not try to predict if it's going to be a choppy day at the start, I find this too hard, but let the action tell me) And stay longer into trades when it's trending more.
    Maybe I should start a discussion about this?
     
    Last edited: Jul 4, 2021
    #15     Jul 4, 2021
  6. easymon1

    easymon1

    I think you should start a discussion about this.
     
    #16     Jul 4, 2021
  7. Bad_Badness

    Bad_Badness

    You nailed it on using someone else system. Unless you know all the details, especially the exceptions and their combinations, you lose enough "edge" that you end up neutral or worse.

    It is like having a sharp knife. Yeah you can "Ginsu" thin slice a tomato, but it does not mean you can prepare a meal. Indicators are just one of many parts of an "edge". Chopfests and breakouts require two different entry-exit tactics to be optimal. Indicators only help part of that.
     
    #17     Jul 4, 2021
    Chuck Krug likes this.
  8. I think the guy in the video was referring to "environment" or conditions in the generic sense. That is the meaningful reminder I got out of the video. I don't use his indicators, nor do I need to in order to benefit from the reminder to either dress appropriately depending on the weather or not go out at all. Sometimes you just need to hear it again, no matter how obvious it may be.
     
    #18     Jul 4, 2021
    Chuck Krug likes this.