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Very simple ES strategy that seems to work
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Very simple ES strategy that seems to work

  #41 (permalink)
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marketvoyager View Post
So what do you think about the list I made, is it half decent? Could I have a chance?

Where is the right place to be looking for an edge, what is the correct way to do that?

I'd argue that one doesn't look for an edge. Rather, the edge ends up finding you. As "Wax On Wax Off" as this may seem, it's moreso a discussion of what mpo7 mentioned about screen time.

I know that I haven't yet developed an edge. If I tried to trade all by myself, I would lose money and likely blow up an account. I'm part of a trading room that is helping me develop an edge. In any case, developing an edge is about the amount of time you spend learning the market that you trade. It's not about the amount of books that you read, or the number of super indicators that you use, or the timeframe that you trade.

If you're a discretionary trader, developing an edge isn't about backtesting the 8 EMA vs the 13 EMA vs the 21 EMA to see which gives you "the holy grail edge". It's about understanding support and resistance in the instrument, learning to identify price action that comes during trends and trend reversals, and most importantly how you as a trader can manage your own emotions while entering positions you deem advantageous.

Spend the time watching the market. If you have a day job and use two or three hours at night to try to learn how to trade, you'll likely fail. You need to glue your ass to the chair from 9:30 to 4:15 and watch price discovery happen. Do not expect that you can take a couple of sick days from work and suddenly learn how traders trade. Did you get your degree in a week, month, or even semester? It probably took four long years of hard work to reach an entry level position in your field. You should expect no different in trading.

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  #42 (permalink)
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Big Mike View Post
Moderator Note

Guys,

Oops.

Last night on my phone I tried to delete a post made by @xiaosi because it broke forum rules. Apparently Tapatalk instead deleted this entire thread, which was not my intention at all.

@mattz reported the broken link this morning.

I've since corrected the error and un-deleted the thread.




Mike

Apologies folks, i clearly was not thinking when i posted that....

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  #43 (permalink)
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Big Mike View Post
Multiple webinars exist on the subject right here on FIO. They are high quality. I believe they are roughly 10 hours in length in total, perhaps 15 hours.

What is contained inside those 10-15 hours takes most people 10,000 hours or more to learn. In other words, they are worth everyone's time to watch on this entire site many, many times over.

Mike

Hey @Big Mike. If it isn't too much of a hassle, do you think you could list some of those webinars that you think are "high quality"? Many others and myself would appreciate it! Thanks!


Last edited by rocksolid68; November 2nd, 2015 at 06:17 PM.
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  #44 (permalink)
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OP-

Keep looking for an edge. Without one, you are doomed.

Most people looking for an "edge" equate it with a "holy grail" strategy - something that works really well, all the time. Those people almost never find one, but many times fool themselves into thinking they have an edge - when all they really have is an overoptimized, curve fit backtest masquerading as a supposed edge.

I have found edges in the simplest things: breakouts, simple momentum, etc.

So, edges are out there. The key is being a good hunter: don't go looking to catch an elephant when all you really need to do is catch a few mice...

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #45 (permalink)
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stop using indicators -> learn how to read price action


marketvoyager View Post
So what do you think about the list I made, is it half decent? Could I have a chance?

Where is the right place to be looking for an edge, what is the correct way to do that?

I suggest if nothing else worked so far and not comfortable with swing trading, look at Depth and Sales however take your time and stick with it.
As far as I know the most cost effective solution is from Jigsaw trading.
I do have a lic and using their tool in my trading. Their website has a lots of educational info regards to how to read Depth and Sales at no additional cost.
Pete is on this forum as well and did I think 3 or 4 webinars as well.

Hope this helps.

atata

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  #46 (permalink)
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kevinkdog View Post
OP-

Keep looking for an edge. Without one, you are doomed.

Most people looking for an "edge" equate it with a "holy grail" strategy - something that works really well, all the time. Those people almost never find one, but many times fool themselves into thinking they have an edge - when all they really have is an overoptimized, curve fit backtest masquerading as a supposed edge.

I have found edges in the simplest things: breakouts, simple momentum, etc.

So, edges are out there. The key is being a good hunter: don't go looking to catch an elephant when all you really need to do is catch a few mice...

I think the only "edge" is price action with the SPX, thats about it so far, then add in some statistics, indicators are just for fun.

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  #47 (permalink)
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marketvoyager View Post
I think the only "edge" is price action with the SPX, thats about it so far

Price Action is not an edge by itself. It can provide an edge, just like anything else. But there are plenty of price action traders out there trading with no edge.



marketvoyager View Post
then add in some statistics, indicators are just for fun.

I do not understand this at all.

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #48 (permalink)
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marketvoyager View Post
I think the only "edge" is price action with the SPX, thats about it so far, then add in some statistics, indicators are just for fun.

This is like saying the lanes of a road will make you a good driver. Add in some calculations and the speedometer is just for fun.

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  #49 (permalink)
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I seldom make a negative post, I don't like to, and I don't want this one to be taken as too negative in tone or content.

But I think it's time for me to stop following this thread. Everything changes every couple of days, and nothing is actually ever tried or ever done.

I don't believe anything of value will ever happen here, and I do think that way too much attention is being given to someone who is not listening, or is listening to everything that comes along and changing with the direction of the breeze, and, in any case, not actually doing anything.

My suggestion is to just pick something that you believe you understand, and that actually is simple, and take a little bit of money and trade it. If you don't have much money, spring a few bucks for a Combine, and trade that. But don't do any more "backtesting," get out of the world of dreaming and into the world of practice, take a few lumps and learn something from them. But stop all this switching around and all this endless talk and do something.

I don't mean to be harsh. But it's not bad advice. Try it, you may succeed or you may not. But all this one way and then another way, swinging back and forth will get you nowhere.

Good luck. Now do something.

Bob.

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  #50 (permalink)
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I agree. I will unfollow now too.

This is only my opinion and I am sure @marketvoyager has the best of intentions, but I can't quite shake the thought that we are all being trolled here. This thread and some PMs have caused me to think this, but I have no other basis.

No doubt I am wrong. This thread however, just seems...well odd.

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