please need some help!

hello all t2w friends,
i been trading for the last year , but can't find a method with a clear edge ( or put as i am an unprofitable trader yet ) ..
tried everything under the sun, looks like i am caught in the information overload ! but i can say almost all methods publicly available cant provide an edge ( at least my view )..
can you please give me a hint in the proper direction to finding a trading method with an edge .. ? i am not desparate in any sense , and willing to take another few years in my quest to trading profitably!

p.s :
i talked to another professional trader and he said to focus on order flow, market profile , depth of market and other similar stuff ... but i dont know what are they and if they are something i can use in forex..happy new year!

If you find a profitable edge kindly let the rest of us in on it.

:clap:

Pat494 said:

If you find a profitable edge kindly let the rest of us in on it.

:clap:

Click to expand...

hi , thks for replying .. so basically there's no way to trade profitably , u are saying?

There are loads of BS claiming all sorts of huge profits but beware most of them lie.
Never trust Martingale systems.

Find a trend, up or down: find a place to join it. Set a stop-loss in case the trend doesn't resume. Set a limit order for when it does so you get your profits in the bank. Don't let your losers drain your account.

There are infinite variations on this simple plan but it has 3 things in its favour - its simple, its a plan and it works

In normal life, the more you know about a subject, the more factors you can input into your decision-making, the better decisions you will make, the more complex work you will able to undertake and the more you will be rewarded by promotion or higher fees or salary.

But trading decisions do not improve with increasing levels of information. Identify what you must have in order to make the decision and collect it, but do not collect anything else.

tomorton said:

Find a trend, up or down: find a place to join it. Set a stop-loss in case the trend doesn't resume. Set a limit order for when it does so you get your profits in the bank. Don't let your losers drain your account.

There are infinite variations on this simple plan but it has 3 things in its favour - its simple, its a plan and it works

In normal life, the more you know about a subject, the more factors you can input into your decision-making, the better decisions you will make, the more complex work you will able to undertake and the more you will be rewarded by promotion or higher fees or salary.

But trading decisions do not improve with increasing levels of information. Identify what you must have in order to make the decision and collect it, but do not collect anything else.

Click to expand...

appreciate a lot your reply mate! ill reconsider and replan for the fresh start taking your advice..
can u please guide me to the most important threads here in t2w , it looks like the vast majority of traders here pretend to be traders when they are not, so its very difficult for me to separate good from bad!\
happy new year,
kind regards

Happy New Year nitey.

Online forums are a great resource but yes they do contain a lot of fluff. I can only go back to my previous advice, identify what you must have in order to make the decision and collect it, but do not collect anything else. Not trying to be being smart nitey, its just that paying too much attention to what others do in infinite detail is not going to help.

Pat494 said:

If you find a profitable edge kindly let the rest of us in on it.

:clap:

Click to expand...

All successful traders have an edge but they do not tell others what it is, otherwise it is not an edge, anymore.

F, who considers himself to be one of the best, also likes to teach others his method. However, if he is as successful as he says he is, he is not telling us everything---.and I do not blame him, either.

Keep working at it until you find one and, then, for Heaven's Sake, don't tell Pat. He's the last person here to keep a secret.

Happy New Year to All.

There is a lot of good free stuff on U-tube. Like ones on Bollinger Bands. Plenty to get you up and running on a free MT4 demo account.

Thanks El Splitto ( moved to Spain ) and don't forget yer false teeth lol

And a prosperous Year 2016 to all

You see! I told him that I mislaid my false teeth and, now, everyone knows!

Seriously. Nitey, an edge is a knack, something that you find for yourself and keep to yourself and it may only work with a particular instrument and at a certain time..who knows?

Good luck with it.

Splitlink said:

You see! I told him that I mislaid my false teeth and, now, everyone knows!

Seriously. Nitey, an edge is a knack, something that you find for yourself and keep to yourself and it may only work with a particular instrument and at a certain time..who knows?

Good luck with it.

Click to expand...

thanks a lot, i appreciate ppl are not willing to share their edges , but at least a hint in the correct direction may help.. people like james 16 , sam seiden, nial fuller and whole lot of others, selling their **** claiming they have an edge, but sadly i cant trade them all profitably!
can u please advise if learning order flow and order book can give me an edge?

thanks a lot again and happy new year to all.

nitey said:

but i can say almost all methods publicly available cant provide an edge ( at least my view )..
can you please give me a hint in the proper direction to finding a trading method with an edge .. ? i am not desparate in any sense , and willing to take another few years in my quest to trading profitably!
xx
p.s :
i talked to another professional trader and he said to focus on order flow, market profile , depth of market and other similar stuff ... but i dont know what are they and if they are something i can use in forex..happy new year!

Click to expand...

i wouldn't know about order flow as i don't use it. however there are many, many publicly available that do provide an edge, so I'm surprised you could say otherwise..you must have tested them, or traded each of them to claim something like that
I can prove that even something simple like a macd crossover can be profitable. Thats not to say I use the macd, but like i say, doesn't mean it can't provide an edge. an edge to each of us might be different, to me its something that gives me a greater than 50:50 chance. In fact the test I did on that indicator far exceeded 50:50.
so why not give one or two of those public methods a try before condemning them, and then apply your own filters for determining the better ones. the more you apply and think about your own filters, you are on the way to developing your own edge whether that applies to forex or any other instrument
good luck and if you do come to take a look at the macd and after you've tried to work through some of this yourself and are still having trouble then by all means let me know

nitey said:

thanks a lot, i appreciate ppl are not willing to share their edges , but at least a hint in the correct direction may help.. people like james 16 , sam seiden, nial fuller and whole lot of others, selling their **** claiming they have an edge, but sadly i cant trade them all profitably!
can u please advise if learning order flow and order book can give me an edge?

thanks a lot again and happy new year to all.

Click to expand...

Have a read of dbphoenix's threads on this site., I don't say that he gives an edge, but he might give you that hint of the right direction that you ask for.

nitey said:

hello all t2w friends,
i been trading for the last year , but can't find a method with a clear edge ( or put as i am an unprofitable trader yet ) ..
tried everything under the sun, looks like i am caught in the information overload ! but i can say almost all methods publicly available cant provide an edge ( at least my view )..
can you please give me a hint in the proper direction to finding a trading method with an edge .. ? i am not desparate in any sense , and willing to take another few years in my quest to trading profitably!

p.s :
i talked to another professional trader and he said to focus on order flow, market profile , depth of market and other similar stuff ... but i dont know what are they and if they are something i can use in forex..happy new year!

Click to expand...

Hi there Nitey,

just wanted to share some thoughts when I read your post:
1) every system has it faults and will give you losing trades from time to time. that's' part of trading. So you will need to willing to accept losses. There is no such thing as a holy grail.

2) even when you find a system that has an edge, that doesn't mean it's a guarantee you will make money. I mean, let's say you have 7 losing trades in a row, and a next trade comes along, are you going to take it or skip it, because you're to afraid of losing again? Trading is more than just having a good system, it's psychology really.

3) Tried everything under the sun?? Really? I mean, i would hardly believe that you haven't come across a system that has edge? Did you take time to make it your own? Or were you to frustrated after a couple of losing trades and went looking for something else?
If you keep switching you'll never going to be profitable. You need to have some confidence in your system

When I started trading, the system I've been using just lost me money (although I liked it because it suits my style of trading) and I switched to something else, But only for a short time and I went back to my first system and took time to make it my own.

4) You need to keep it simple!

thanks a lot guys for all kind suggestions!
yes i see now i have been at fault , ill learn to program and test systems again in 2016 in order for my quest to gain an edge..
ill let u all know how it goes..

kind regards

nitey said:

thanks a lot guys for all kind suggestions!
yes i see now i have been at fault , ill learn to program and test systems again in 2016 in order for my quest to gain an edge..
ill let u all know how it goes..

kind regards

Click to expand...

Good luck to you man.

There are an infinite ways or systems around and about but I can assure you none will work if they do not make sense to you or relate to your personality....

There are not secrets or edges to be find elsewhere (holy grail, system edge and the usual BS) in trading but only skills, skills in reading price or whatever you use and skills in learning about yourself in relation to the market, the real edge lays here.

There are some good books around which can prepare you on technicality, money management and proper mindset.

Then if you can bring yourself forward you will have a solid edge.

zoetrader said:

Forex trading is not easy if you don't know how to read the trends or have a very good strategy, you can lose all of your money. It even took me years to practice and learn Forex until finally I can be the expert in Forex trading. Thank God that I have been able to get the best strategy because I've been trading for more than 12 years.

I can teach you but I'm really sorry, I don't have time to do that because I have so many clients and you need a lot of time to learn.

What if I trade for you? I can make up to 500% profits in a month and you can learn my strategy while I trade on your account. This way you're not only going to get the knowledge, but also the money at the same time.

Click to expand...

lol 500 % a mnth,i must have missed your name in the forbes400 list

nitey said:

lol 500 % a mnth,i must have missed your name in the forbes400 list

Click to expand...

This Zoetrader is so blatant that I had to read it again to try to spot the joke!

I've come to the conclusion that there isn't one. He wants your money

Splitlink said:

This Zoetrader is so blatant that I had to read it again to try to spot the joke!

I've come to the conclusion that there isn't one. He wants your money

Click to expand...

yes.... but he did it professionally and with an elegant premessa before the bite :

"Forex trading is not easy if you don't know how to read the trends or have a very good strategy, you can lose all of your money. It even took me years to practice and learn Forex until finally I can be the expert in Forex trading. Thank God that I have been able to get the best strategy because I've been trading for more than 12 years.

I can teach you but I'm really sorry, I don't have time to do that because I have so many clients and you need a lot of time to learn.

What if I trade for you?.........."