Trading with the Edge.
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thread: Trading with the Edge.

  1. #1
    Senior Member jotean's Avatar
    146

    Trading with the Edge.

    There are a few rather sharp minds on this website(genuine intellectual heavyweights) and I've had the fantastic chance to read their deep discourses on which constitutes a border. How with no edge one is trading using negative expectancy, etc.etc.
    Assuming level playing areas (no insider information),IMHO a border is nothing more than the ability to recognise recurring patterns on the marketplace. I believe money management and pattern recognition would be as good an edge as you can hope for.
    I'm starting this journal for my live trades with what I believe is my edge.
    I will be trading Cable on intraday basis. I will risk 2% or less per trade.
    I use no indiors to enter or depart my transactions. I do use Pitchforks and Fib Retracements to analyse the marketplace.
    Starting amount $150K

    Please notice the aim of this thread isn't to argue the relative merits of my own beliefs.
    Z

  2. #2
    Senior Member jotean's Avatar
    146
    My outlook for Cable is bearish. Price is heading towards the line and also based on Dr Andrews it should reach the point about 80 percent of the time. There is a confluence at around 1.9475. It is the 78.6% retracement from the reduced of Jan 21st. There is also the energy point at A, according to TMorge. In accore with his 30 year plus experience prices are attracted to these energy points. Well lets wait and see how the marketplace evolves over the coming days.

  3. #3
    Senior Member jotean's Avatar
    146
    Another fantastic chance missed with my long averse eyes.
    On a more optimistic note I have learnt something new now. I was disiplined enough to not choose a transaction for trading's sake. No cash lost so all in all a fantastic day.

  4. #4
    Senior Member jotean's Avatar
    146
    An extremely joyous day for me personally. I took a transaction and regardless of the desire to take profit after 60 pips I had been disciplined enough to follow my own plan and then take pips. I have had winners but this is maybe the very best trade that I have ever done.

  5. #5
    Hey Zones,

    I got a message today that somebody attempted to leave a comment on my old blog. I thought they'd have eliminated it, but it is still there. You may want to peek, although it had been too time consuming for me to preserve.

    http://bobnat.typepad.com/pitchforks/

  6. #6
    Senior Member jotean's Avatar
    146
    Not a fantastic day to begin a journal. Tons of data that is fundamental at different times of the day out now.
    When the dust had settled after the 2.30 news launch, I went of Cable using a 3.1 reward/risk ratio. Cable dropped its momentum and came back to stop out me using a 7 pip gain.
    Long, 1.9876
    Stop, 1.9869
    Profit Target 1.9907
    Stopped out in 1.9883
    7pips

  7. #7
    Junior Member SgbSergio's Avatar
    16
    Good luck on your journal!!!
    I have been trading for a few months now and have the same ideas as you've. I found pattern recognition to be effective in my trading, especially the 123 reversal pattern have supplied some returns to me. When you look at the transfer upward for GBP/USD, everything started with a 123 design. The big move down on the EUR/CHF, all started from a 123 design.

  8. #8
    Senior Member jotean's Avatar
    146
    I discovered pattern recognition to be very powerful in my trading, particularly the 123 reversal pattern have provided me with some wonderful returns.
    Thanks Fxtrader,
    that I cuncur with you concerning the 123 design. It's a pattern on all timeframes.
    Can you continue to flourish.

  9. #9
    Hey,

    I Concur with your Evaluation of a Border. I am a lover of Pitchforks. I am looking forward to your investigation.

  10. #10
    Senior Member jotean's Avatar
    146
    Dopey, I am a closet admirer of you. It was last year , your articles on a Pitchfork thread that got me interested in them. According to your recommendation I bought Gordon's and Mikula's books.
    Can you take up the job with Habib Bank?

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