Trading with the Edge.
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Thread: Trading with the Edge.

  1. #1
    There are a few rather sharp minds about this website (real intellectual heavyweights) and I've had the fantastic fortune to read their deep discourses on which constitutes a border. How without an advantage one is trading using negative expectation, etc.etc.
    Assuming level playing fields (no insider advice ),IMHO a border isn't anything more than the ability to recognise recurring patterns on the market. I think sound money management and pattern recognition would be as good an advantage as one can hope for.
    I'm starting this diary for my reside trades with what I think is my advantage.
    I will be trading Cable on intraday basis. I will be risking 2% or less per trade.
    I use no indiors to enter or depart my trades. I really do Fib Retracements and use Pitchforks to analyse the market.
    Starting sum $150K

    Please notice the purpose of this thread is not to argue the relative merits of my beliefs.
    Z

  2. #2
    Great luck on your diary!!!
    I have been trading for a few months now and I have the very same ideas as you have. I discovered pattern recognition to be somewhat effective in my trading, especially the 123 reversal pattern have provided me with some wonderful returns. If you look at the transfer upward for GBP/USD, it all started with a 123 pattern. The big move down on this EUR/CHF, all started out of a 123 pattern.

  3. #3
    Quote Originally Posted by ;
    I found pattern recognition to be somewhat effective in my trading, especially the 123 reversal pattern have supplied me with some awesome returns.
    Thanks Fxtrader,
    I cuncur with you concerning the 123 pattern. It is a recurring pattern on all timeframes.
    May you continue to prosper.

  4. #4
    Hey,

    I Concur with your assessment of an edge. I am a fan of Pitchforks. I am looking forward to your analysis.

  5. #5
    Dopey, I am a closet admirer of you. It was last year, your articles on a Pitchfork thread which got me interested in them. As per your recommendation I purchased Mikula's and Gordon's books.
    Did you take the job with Habib Bank?

  6. #6
    Quote Originally Posted by ;
    , I'm a closet admirer of you. It was your posts on a Pitchfork ribbon which got me curious about them last year. As per your recommendation I purchased both Mikula's and Gordon's novels.
    Did you take up the occupation with Habib Bank?
    Well, I'm edued and glad that I could help in some way. Have you looked at the site of Tim Morge? It's called Medianline and he's got some great stuff there, particularly on entries. If you would like, send me your email addy in a pm and I'll send you his archives, that I pulled away his site along with a few other things of his I've gathered.

    I started a blog a year doing PFs, but I stopped because it was too time consuming. However, I would be happy to chip in here on occasion with my two Dirh worth.

    The job with Habib Bank was a churn and burn setup, they only wanted to pull out commissions and did not give a damn about customer's accounts. I suspect there's lots of outfits doing crap like this.

  7. #7
    Quote Originally Posted by ;
    You will find some rather sharp minds about this website (genuine intellectual heavyweights) and I've had the good fortune to read their deep discourses on what constitutes a border. How with no edge one is trading with adverse expectancy, etc.etc.
    Assuming level playing areas (no insider advice ),IMHO a border is nothing more than the ability to recognise recurring patterns in the market. I think sound cash management and pattern recognition are as good an edge as you can expect.
    I'm starting this journal for my live trades with what I think is my edge.
    I will be trading Cable on intraday basis. I will be risking 2% or less per transaction.
    I use no indiors to enter or depart my trades. I really do use Pitchforks and Fib Retracements to analyse the market.
    Starting amount $100K

    Please note the aim of this thread is not to argue the relative merits of my beliefs.
    Z
    May I ask what your final goal is? If you're trying to attain a particular amount of money, then yes, then you may well have achievement. You will require a stomach of iron, a good system, patience, and a little luck. It may be performed!! If, however, your goal is to take consistent profits out each month to the next 10 years you're headed down a far rockier road. Hopeless, but the odds are stacked very high . I'd encourage you to reconsider goal #1. I wish you all the best.

  8. #8
    Quote Originally Posted by ;
    May I ask what your ultimate aim is? If you're trying to attain a certain sum of money, then yes, then you may well have achievement. You'll require a bit of luck, a stomach of iron, and a good system, patience. It may be done!! If, however, your aim is to take consistent profits out each month to another 10 years you're headed down a much rockier road. Hopeless, but the odds are stacked very high against you. I'd encourage you to rethink target #1. I need you all the best.
    Why would you think that he is not doing well in his trading? He just said that he's an edge and decent MM and he's good to go.

  9. #9
    Quote Originally Posted by ;
    Why do you believe he is not doing well in his trading? He said that he's a border and decent MM and he is very good to go.
    I did not say he was not doing well. I expect he is, and may contiune to be for a very long while. However, just because he says he's a border does not mean it is so. Belief has nothing to do with it. Looking at a chart and recognizing patterns isn't a definable, quantifiable advantage in the Currency Market market. He may be profitable for a very long time, or he may go back in 6 weeks or less. Given enough time it is an almost mathematical certainty that he'll lose. It is fairly possible, however, in the brief run to make a lot of cash. That's way I asked about his final aim.

  10. #10
    Quote Originally Posted by ;
    I didn't say that he wasn't doing well. I hope he is, and can contiune to be for a long time. But just because he says he has an edge does not make it so. Belief has nothing to do with it. Looking at a chart and recognizing patterns isn't a definable edge in the Currency Market market. He may be profitable for a long time, or he can go bust in 6 weeks or less. Given enough time it's an almost mathematical certainty that he will lose. It's quite possible, but in the brief run to create a lot of money. That is way I asked about his aim.
    Read his last sentence on his first post

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