Do you have an "edge" in your trading?

[timsk]

There's a tendency in any discussion on these boards to view an idea or opinion expressed in absolutes - as a 100% black or white. So, in the context of this discussion, some people might conclude from TheBramble's post that he thinks all journals are utterly pointless and no traders should ever bother with them. I don't think he's saying that at all (correct me if I'm wrong Tony). Conversely, for those who are keen advocates of the journal process, I don't think any of them are arguing that the journal will cure all ills and is more important than studying price action - or whatever. So, IMO, all views posted have merit and some truth in them. A balance between the extremes is needed, there is no one right or wrong way to go about this business.
Tim.

 

[TheBramble]

Well... perhaps I got a different meaning from...

DT - I've already agreed with Robster that it's horses for courses and that neither I, nor any other flucker really knows enough to give advice to anyone else about anything.

We can only ever say what worked (or didn't) for us. And even then, we're probably not in a position to offer any useful indications to others about how they could do the same even if they wanted to.

Which makes this and every other trading site not only superfluous, but downright detrimental to any trader’s development.

 

[Mr. Charts]

I didn't agree with every single phrase in Tony's post, which is why I used the phrase, "too much"
Richard

 

[TheBramble]

people might conclude from TheBramble's post that he thinks all journals are utterly pointless and no traders should ever bother with them. I don't think he's saying that at all (correct me if I'm wrong Tony).

That was what I was saying, but I've recognised I was wrong and there an infinite number of approaches to failure and success in any endeavour and none of us know enough about anything to really help anyone else.

 

[0007]

Which makes this and every other trading site not only superfluous, but downright detrimental to any trader’s development.

The best thing about this site (and others) is its supply of ideas (yes - some are cr@p IMHO). You can think on them, modify them, lead yourself to another approach and let them act as a catalyst.

Eventually it can help you define your own successful trading style. I agree, to a certain extent the site becomes superfluous once you learn to trade successfully but it still has loads of entertainment value.

 

[DashRiprock]

When I first started out trading I kept a journal and tried to use it to spot patterns for my trades like others have suggested... but for every trade I thought I saw something new and important, I ended up looking at maybe 15 or 20 other things for every trade. I couldn't see the wood for the trees.

Eventually someone that was helping me suggested I ditch all the "looking for patterns" stuff and kept my journal just for whinging/self-efficacy, depending on the day I'd had. He said that "You already have everything you need to be a great trader, you just aren't applying yourself in the best way".

His advice, and using my journal in that way, were a bit of a milestone for me. Like someone else said, you can only describe what has and hasn't worked for you. But there you go, my $0.02.

 

[Black Swan]

When I first started out trading I kept a journal and tried to use it to spot patterns for my trades like others have suggested... but for every trade I thought I saw something new and important, I ended up looking at maybe 15 or 20 other things for every trade. I couldn't see the wood for the trees.

Eventually someone that was helping me suggested I ditch all the "looking for patterns" stuff and kept my journal just for whinging/self-efficacy, depending on the day I'd had. He said that "You already have everything you need to be a great trader, you just aren't applying yourself in the best way".

His advice, and using my journal in that way, were a bit of a milestone for me. Like someone else said, you can only describe what has and hasn't worked for you. But there you go, my $0.02.

Early days I used to file loads of my trades in the form of graphs and add comments and studt them. Perhaps it did help at the time..what I've never bothered with is a spreadsheet type record, you can always use the report section from your broker, that's as detailed as I've needed...

 

[the hare]

Who said anything about random entry, no target and no stop?

I did, or cant you read ? Every single post you makes reveals just how little you actually know. To suggest a 10% win rate under the conditions I described shows a complete and utter ignorance of the basics.

If you want to engage with me an anything in future, do your research and make sure it's worthwhile or I'm just going to ignore it.

I dont wish to engage with you. I'm just pointing out the stupidity of your arguments

 

[meanreversion]

Which makes this and every other trading site not only superfluous, but downright detrimental to any trader’s development.

Not completely superfluous. I find it makes me think a little harder about what I'm doing, in the context of what I read from other people.

Downright detrimental? No, I wouldn't go that far either. There is the occasional nugget, you just need to sift through the excrement. But how is that any different from filtering all the information we get constantly through the day any way?

Don't take this the wrong way.. but if you really think this is true, can I ask why you're still here after 8 years? You can't think t2w is completely redundant?

 

[the hare]

You can't think t2w is completely redundant?

I dont often agree with the bramble but T2W is completely detrimental to anyone whose trying to get their ducks in a row, for reasons that I've cited previously.

 

[DashRiprock]

Early days I used to file loads of my trades in the form of graphs and add comments and studt them. Perhaps it did help at the time..what I've never bothered with is a spreadsheet type record, you can always use the report section from your broker, that's as detailed as I've needed...

What you used to do with Graphs sounds similar to what I did... there is so much information/analysis out there you could spend a lifetime looking for a magic " IF -> THEN" rule that just doesn't exist. That's what I think my mentor was trying to tell me. I do keep records of all my trades though, it's not so much work the way I have it set up. I like to look at things like "time in winning trades" to "time in losing trades" and so on. Nothing over the top but enough to keep me honest.

 

[TheBramble]

Don't take this the wrong way.. but if you really think this is true, can I ask why you're still here after 8 years? You can't think t2w is completely redundant?

It's a revelation brought about by an insightful comment from Robster today, for which I thank him.

I thought I’d picked up enough about trading to come back and share what I ‘knew’. Lots (and lots) of meaningless and pointless chit-chat too, but hopefully drop in the occasional ‘useful’ post. Not sure anymore that’s possible. Plus I’m pretty much saying the same thing over and over again. Get back to basics. Keep it simple. But just because that works for me, what bloody right do I have to suggest that’s a good way for anybody else? I could be, albeit with positive intent, leading someone in precisely the wrong direction without them or me realising it.

I felt I’d picked up a lot from t2w in my (and its) early days. I certainly think that’s the case, but again, how can I be sure. And t2w now is a lot different to then, there isn’t the same smallness of universe in which to share ideas and get things done. It seemed far more collaborative back then. I may be wrong.

I don’t hang around the boards all the time these days as I generally have other projects as well as trading which don’t leave me much free time. This last week I’ve been doing neither as I prepare for my skiing trip and therefore have plenty of time to post the sh!t out of these boards. With the result you get lots of feedback (LOL) and some of it, like today, not just useful, but as I said up top,a personal revelation or epiphany.

When you think about it, and it doesn’t matter what topic comes up, there’s always going to be a debate. Bods at almost at opposite ends of the spectrum and both doing OK with their respective, and quite opposite perspectives. Maybe the process of the interchange where we get exposed to the various views it the key thing about sites like this. It’s up to the individual trader to challenge each and every comment, if only to themselves, and decide what’s worthy of further research and what works for them. So no, not superfluous. Just needs a caveat on each post I guess – DYOR and YMMV.

 

[Black Swan]

Not completely superfluous. I find it makes me think a little harder about what I'm doing, in the context of what I read from other people.

Downright detrimental? No, I wouldn't go that far either. There is the occasional nugget, you just need to sift through the excrement. But how is that any different from filtering all the information we get constantly through the day any way?

Don't take this the wrong way.. but if you really think this is true, can I ask why you're still here after 8 years? You can't think t2w is completely redundant?

The insight into human behaviour has been invaluable for me, likewise comparing how others trade on their journals or in the couple of live-ish trading threads. Where this 'hub' has taken me, in terms of other trading destination sites/blogs/vids/articles has been intelligence I couldn't have possibly gathered without this resource being here..

Biggest neg for me is grown *men* acting as trolls with multi nics which is very, very odd, even stranger when they use a IP block to carry on posting under their new names or nip down to the internet cafe, Mc Ds or pub to carry on.. If they've puked/been banned/flounced off why not just go...bizarre...

 

[TheBramble]

Biggest neg for me is grown *men* acting as trolls with multi nics which is very, very odd, even stranger when they use a IP block to carry on posting under their new names or nip down to the internet cafe, Mc Ds or pub to carry on.. If they've puked/been banned/flounced off why not just go...bizarre...

You know how to hurt a guy....

 

[new_trader]

The conclusion: You should always listen to people who use animal allegories! :clap:

 

[Black Swan]

You know how to hurt a guy....

I also wonder from time to time if failing at trading damages mental health...

 

[marketpupil]

And no, I would not call the lower time frames random noise. I'd be surprised if anyone who made money trading thought that they were. Those that claim to and don't, on the other hand, I can easily see why they might take comfort from the thought that market movements are random noise...bless

I agree, I certainly would not classify the lower time-frames as noise. However, I would be extremely careful trading the 1 min time frame. Many traders get nervous entering trades and proceeding to view their progress in the 1 minute interval. I primarily trade the 30 min interval and use the 1 min interval to mark my entry points.

I have found that the best policy is to make a trade, set your stop/limit, and walk away. This is a major combatant to the "itchy finger syndrome."

 

[meanreversion]

Biggest neg for me is grown *men* acting as trolls with multi nics which is very, very odd, even stranger when they use a IP block to carry on posting under their new names or nip down to the internet cafe, Mc Ds or pub to carry on.. If they've puked/been banned/flounced off why not just go...bizarre...

This does NOT happen, does it?!?!?!??

 

[TheBramble]

Re: Do you have an "edgeTalking to yourself again?" in your trading?

Talking to yourself again?

 

[meanreversion]

?