DislikedWouldn't your $/pip value be higher for the 10 trades/day system in your example given same equity risk of say 2%. So 10 trades still more profitable in $ terms.Ignored
An Edge for an Edge (System Development) 113 replies
What do you thing is your edge? 5 replies
Improving Your Trading Performance: The Single Most Important Step You Can Take 13 replies
The most simple thing you could ever do. 0 replies
The most difficult thing? 20 replies
DislikedWouldn't your $/pip value be higher for the 10 trades/day system in your example given same equity risk of say 2%. So 10 trades still more profitable in $ terms.Ignored
DislikedMarkets on monthly charts are not random. On 1 min charts they are. There are no random 300 pip spikes unless central bank intervention happens but that only happens once a year on euro/chf. Its rare occasion. And stop loss can prevent big loss. On 1 min chart u have some much randomness it cannot be compared to monthly.Ignored
DislikedThe longer a trade goes for, the higher the probability that a random event will %$^# it up.Ignored
DislikedAbsolutely not! Markets are not random, they trend.
For example if the price of a currency pair moves 100 pips higher, its probability of moving ANOTHER 100 pips in the same direction is more than 50%. If you don't believe me backtest this system and see for yourself.Ignored
Quoting AllanSDislikedI have no illusions about my ability to beat the house at its own game.Ignored
DislikedGetting tired of hearing this from unsuccessful traders.
1) Technical analysis doesn't work! - no YOU can't make it work.
2) Also price action doesn't make much sense. - Doesn't make much sense to YOU.
[color=black][font=Verdana][color=black][font=Verdana]To others reading this thread - Trading is possible. Making money is possible. It is not the indicators that don't work. Or the Price Action that...Ignored
DislikedYou forgot just one thing Custos, lower time frame = more trades.
Would you like to earn 20 pips a day with a system that generates 1 trade a day on the 1h time frame or make 10 trades a day with an average profit of 4 pips per trade (40 pips/day) on the 1min time frame?Ignored
Disliked...If you want to gamble your hard earned cash using some half baked homemade strategy that might give you an incrimental advantage against an army of quants and brokers using super-computers, I wish you all the luck in the world. Me? I just play with this stuff on demos like my wife does crosswords. It keeps me entertained on winter evenings. I have no illusions about my ability to beat the house at its own game.Ignored
DislikedTrue, but that "random" event could also be in your favor.
I would welcome a 500 pip spike anytime, if it is going my wayIgnored
Disliked...As far as I'm concerned an Edge, Money Management, and Psychology are all equally important. If you don't have all three you're toast. What good is having an edge if you can't trade it?Ignored
DislikedI watch for momentum setups, at preferable times of day, happening together on multiple markets, that have many obvious reasons to cause traders around the world to also take that setup.
When a setup is good, many traders around the world will be looking at the same breakout/momentum/price action.... and many will be taking the same trade for substantially the same reason. Think about it, a substantially significant amount of professional traders all piling trades in the same direction on the same market. It's not coincidence....Ignored
DislikedOK, I'm going to step back in here for a quick minute....
What I referred to in my post (your reply is quoted), is that many traders do take opposing trades. One will buy, another will sell. That's why we have a market. And that is what will always happen.Ignored
QuoteDislikedfeel that many knowledgeable traders here have truly presented multiple reasons why TA works. Written above is a very good reason why it works. If you truly believe that TA can never work for you... then I'm pretty sure it never will.
QuoteDisliked"Where is the EDGE in trading?" has been answered.
QuoteDislikedThe WHY Technical Analysis works.... has been answered.
DislikedHow many actually make 40 pips/day, 200 pips/week, 10,000 pips/year trading the one minute time frame? Very, very few, I assure you.Ignored
DislikedMany may claim to do this, but try to find just one who will provide you with a year of trading statements proving such a record, even with name, account number, and all other identifying information redacted. I'd bet you that even if you offered a $1000 bounty on such a trading record, you'd find no one here at FF or elsewhere who could prove such a record.Ignored
DislikedI can see why they are angry, its becouse they cannot answer the simple question. Why?
No offense to anyone but thats how i see it.Ignored
Disliked...If you had an exceptionally super good system, would you talk about it on forums like this, let alone show your account statement?Ignored
DislikedI mean even a baby can understand that, so why are still asking the same question over and over and over again?Ignored
QuoteDislikedlet alone show your account statement?
DislikedOK, The only thing I said will "always happen" is traders taking opposite positions. One buys... another sells. And Yes, that will always happen.Ignored
QuoteDislikedIf you want to find an edge in trading, you need to be open to considering ALL the possibilities. You still have a ways to go. Some day you'll look back on this thread and remember the days when you just didn't understand it yet.
DislikedWhat im saying is this "in statistically favourable situations there are going to be more buyers/seller at certain periods and that give u an edge".
agree.
TA tools dont give u that.
disagree. very much so.
They are completly random and lagging. Different people see different lagging patterns and they draw different support/resistance lines, different fibo lines ect... so how do u predict sth out of that? Care to explain this simple question?
I already have. Twice....Ignored
Disliked
Lol. I keep an open mind for any explanation as long as it makes sense. If its mumbo-jumbo i dont waste time with it. I think in few years u will came to the same conclusion.Ignored