Do you have an "edge" in your trading?

Ok, 33 pages have been produced about this subject and no one has really come up with anything solid because in my opinion most are looking in the wrong area.

A true edge in trading edge is permantent, it wont be lost when a technological advantage ceases to no longer exist, or trends no longer develop, and so on. An edge is not a list of reasons to trade and not to trade, because if it was that simple, most would consistently profit from this business.


There is no need to use analogies here, but on the first few pages someone mentioned beating Lewis Hamilton in a race. I thought this was interesting as to me I dont compete with anyone in the market, just control myself the best I can, there is no gold medal or bottle of champagne to the person with the biggest pot of cash. This is not a business where one trader takes all. Complete focus on oneself is required. Why be bothered about silly stats, that involve other people, why are they important to you?

Anyway, even if Lewis Hamilton and I were given the exact same car(the system/methodology) and raced around Silverstone, he would beat me hands down no doubt. This is because his input creates the edge required to beat me. He understands from experience and diligence where to put pedal to the metal and where to ease off. Discretion which I believe is vital in trading and what enables the very few to develop a permanent edge.

The reason is:

YOU ARE THE EDGE!

YOU make the decision to trade, you make the decision to close a position, (be it at a loss or a profit). YOU are in charge of everything you do in the market, and there for pay the consequences of your actions.

Systems and methodologies give traders something to believe in, a faith if you like. They think that once they run a back test and see some positive expectancy, they are ready to rock and roll all the way onto the Forbes rich list.

But it seldom works out that way.

Knowledge is power, but put power in the wrong hands and you have destruction!

The above is just something to think about, not a reason to kick of an argument, its all very interesting, peoples viewpoints, exactly what makes a market, as without them, there would be no market.

Just a passing visit

Have a good 2011.:clap::clap::clap:
 
I think one of the biggest edges the retail punter has is that he doesn't have to trade if he doesn't feel like it. Institutional traders don't have that luxury.

In fact, the retail chap can trade 10 times a year if he likes, whereas there is always more pressure on the 'big boys' to be trading all the time.

(Of course, there are significant other advantages to being a 'big boy', but that's outside the context of this thread.)
 
Have come to this conclusion my self recently ...... yeah I know .... I'm a very slow learner :cry:

wallstreetwarrior87 said:
Ok, 33 pages have been produced about this subject and no one has really come up with anything solid because in my opinion most are looking in the wrong area.

A true edge in trading edge is permantent, it wont be lost when a technological advantage ceases to no longer exist, or trends no longer develop, and so on. An edge is not a list of reasons to trade and not to trade, because if it was that simple, most would consistently profit from this business.


There is no need to use analogies here, but on the first few pages someone mentioned beating Lewis Hamilton in a race. I thought this was interesting as to me I dont compete with anyone in the market, just control myself the best I can, there is no gold medal or bottle of champagne to the person with the biggest pot of cash. This is not a business where one trader takes all. Complete focus on oneself is required. Why be bothered about silly stats, that involve other people, why are they important to you?

Anyway, even if Lewis Hamilton and I were given the exact same car(the system/methodology) and raced around Silverstone, he would beat me hands down no doubt. This is because his input creates the edge required to beat me. He understands from experience and diligence where to put pedal to the metal and where to ease off. Discretion which I believe is vital in trading and what enables the very few to develop a permanent edge.

The reason is:

YOU ARE THE EDGE!

YOU make the decision to trade, you make the decision to close a position, (be it at a loss or a profit). YOU are in charge of everything you do in the market, and there for pay the consequences of your actions.

Systems and methodologies give traders something to believe in, a faith if you like. They think that once they run a back test and see some positive expectancy, they are ready to rock and roll all the way onto the Forbes rich list.

But it seldom works out that way.

Knowledge is power, but put power in the wrong hands and you have destruction!

The above is just something to think about, not a reason to kick of an argument, its all very interesting, peoples viewpoints, exactly what makes a market, as without them, there would be no market.

Just a passing visit

Have a good 2011.:clap::clap::clap:
Click to expand...
 
wallstreetwarrior87 said:
Ok, 33 pages have been produced about this subject and no one has really come up with anything solid because in my opinion most are looking in the wrong area.

A true edge in trading edge is permantent, it wont be lost when a technological advantage ceases to no longer exist, or trends no longer develop, and so on. An edge is not a list of reasons to trade and not to trade, because if it was that simple, most would consistently profit from this business.


There is no need to use analogies here, but on the first few pages someone mentioned beating Lewis Hamilton in a race. I thought this was interesting as to me I dont compete with anyone in the market, just control myself the best I can, there is no gold medal or bottle of champagne to the person with the biggest pot of cash. This is not a business where one trader takes all. Complete focus on oneself is required. Why be bothered about silly stats, that involve other people, why are they important to you?

Anyway, even if Lewis Hamilton and I were given the exact same car(the system/methodology) and raced around Silverstone, he would beat me hands down no doubt. This is because his input creates the edge required to beat me. He understands from experience and diligence where to put pedal to the metal and where to ease off. Discretion which I believe is vital in trading and what enables the very few to develop a permanent edge.

The reason is:

YOU ARE THE EDGE!

YOU make the decision to trade, you make the decision to close a position, (be it at a loss or a profit). YOU are in charge of everything you do in the market, and there for pay the consequences of your actions.

Systems and methodologies give traders something to believe in, a faith if you like. They think that once they run a back test and see some positive expectancy, they are ready to rock and roll all the way onto the Forbes rich list.

But it seldom works out that way.

Knowledge is power, but put power in the wrong hands and you have destruction!

The above is just something to think about, not a reason to kick of an argument, its all very interesting, peoples viewpoints, exactly what makes a market, as without them, there would be no market.

Just a passing visit

Have a good 2011.:clap::clap::clap:
Click to expand...

What edge were you expecting from a truly random game .
 
volatiliti said:
Oh so are you saying that forex price movements are not random ?
Click to expand...

Funnily enough when I did actually have that race with Lewis, I thought all the turns on the track were random, and I couldnt work out how he knew where to break hard, where as, I kept coming off the track.

I guess he must have done his due diligence and also raced there before; many many times:idea:

What is random?
 
Nicely made point WSW. BUT....

...I'd love to see NT to show us that price movements aren't random.:cheesy:
 
TheBramble said:
Nicely made point WSW. BUT....

...I'd love to see NT to show us that price movements aren't random.:cheesy:
Click to expand...

I'm sure you would like me to show you how to trade :cheesy:

Unfortunately, I didn't say I would, I asked volitility if he would like me to. You see, I have proven to myself that the market isn't random and I suppose that is what gives me an (the!) edge. The random people are always the ones with the doubt in their mind.
 
new_trader said:
I'm sure you would like me to show you how to trade :cheesy:

Unfortunately, I didn't say I would, I asked volitility if he would like me to. You see, I have proven to myself that the market isn't random and I suppose that is what gives me an (the!) edge. The random people are always the ones with the doubt in their mind.
Click to expand...
My first guess was that you would attempt to side-step the offer.

Seems I'm right. Again.

The thing is, it is possible quite simply to show the market isn't random. And you wouldn't have to give any of your secret edges away. LOL

If you don't do it (or more likely, aren't able to) within the next 10 posts, I will.

My next guess is you'll either waste/cause another 10 posts to avoid having to show you can't do it, or you'll simply sit quietly and let this rather busy thread clock up the requisite number of posts to get you off the hook.
 
TheBramble said:
My first guess was that you would attempt to side-step the offer.

Seems I'm right. Again.

The thing is, it is possible quite simply to show the market isn't random. And you wouldn't have to give any of your secret edges away. LOL

If you don't do it (or more likely, aren't able to) within the next 10 posts, I will.

My next guess is you'll either waste/cause another 10 posts to avoid having to show you can't do it, or you'll simply sit quietly and let this rather busy thread clock up the requisite number of posts to get you off the hook.
Click to expand...

Hot shot, start a trading journal like I did with plenty of live calls for all to see :rolleyes:
 
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