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So what happened when I hit Live Trader Prep? I just wasn't ready... I started to second guess everything. "What are they thinking of my trading?" "They are watching me" "I am going to make so much money, I'll be the next supertrader" "You gotta show them just how good you are... you only...

A quick introduction: I've traded futures since '99, but don't consider myself a trader until 2007. (My definition of a "trader" is someone who can consistently extract money in the markets) That was when I found an edge and could consistently make money each month. It is also when I moved my...

Understand the charts are just showing you what human beings are buying and selling at. There is no magic line that suddenly crosses and will make you rich... never forget you are trading against other people and what they are doing. Learn market profile. I would recommend only demo trading...

ok. Decision made. Scheduled to start on Monday. I have to say, I've second guessed myself as to why I would do this, but now I am looking forward to it. I'll open a journal in the journal section and post the link in this one. @smallStops thanks for the feedback :)

Hello all, I have an extensive background in trading, including trading full time in 2007 and 2008, and working after that directly under Denise Shull for about 14 months. The financial crisis blew me up, along with getting extremely sick at the same time. However, today I am now a much...

Equity Futures Trader

Guys, my advice is to try the least expensive combine that topsteptrader offers and the longest time. This will force you to come up with a trading plan, and then try and execute it real time in current market conditions. Set your goal to simply get to the last day of the combine, without...

Haha, without a doubt... In no way was I implying we should actually trade real money based on a random coin toss. I just think you would be surprised at the outcome of your trades if you were to try what I proposed. And for the record, I do believe there are statistical edges, which is why...

Dbphoenix, why don't we try it? I don't know you, your trading history or your reputation on ET... But based on your responses you sound like you know trading. I'll bet that you, myself, wrbtrader, and kut2k2 could all achieve at least break even on the combine using the following parameters...

Guys, this is turning into a very good discussion... Many of your points are great considerations. Thanks to everyone for more or less keeping it on topic. Traders sharpen traders.

Say A trader discovers the perfect trading system, but it can't be automated. However, all criteria is in place for the trader to have an edge with positive expectancy. Now this trader becomes seriously greedy, just wants to make a bunch of money and retire. So he stays up most of the...

+10 pretty much what I believe too. The example in another post of the son inheriting the fathers trading plan, does mean the son got a great plan for free... But it doesn't mean the son will be able to trade it! Which is why I believe "edge" involves other aspects than simply positive...

Ok, I had to read this a few times to make sure I clearly understand your position. I totally agree with using criteria that stem from live, real-time trading... But I believe there can be criteria in a trader's head that is also valid and not smoked up. ;) How about confidence? What...

Here is how it gives me an edge. I'm stepping into the trading arena with a very small amount of my account at risk. I'm relaxed, confident, and aware that I really have no idea where the market will go or what it will do. However, I expect certain things could happen and if so my plan is to...

You plan for them. You review your trading journal, you keep one right? And that allows you to guesstimate how many future mistakes you might make per month. Then take a look at your trading system, factor in for the future mistakes, and ask yourself if it still makes sense to trade it. None...

First, thanks to those who have taken the time and commented on this thread. Appreciate those lurkers who read it.... Hope it helps. My whole point in posting in the first place, was to highlight that there are different types of "EDGE" that we can control and utilize. Mainly doing with...

dbphoenix I tried to throw some points out for all skill levels of traders. I agree also, in that list #4 is the most important. The point on positive expectancy wasn't based on post trade results, but pre-trade planning for positive expectancy. I never know what the markets will do, but I...

First question, since this is a topic on edge... How does "optimal position sizing" give you an edge? Secondly, risking max 1% PER any single trade is not scaredy- cat position sizing. Matter of fact, many would consider that too high. Long Dow, short TWTR, and short eur would have 3% total...

Reading through 200 plus pages of another thread on edge, which quickly turned into something else, wasn't what I wanted to reply to... So here is the start of ways we can gain EDGE as traders. We all have the possibility of an edge, because the one thing we can control is ourselves. Here...

I recommend a journal, but would also add the following: 1) How you were feeling at the time of trade exits/enters, and adjusting orders. 2) How much sleep you had the night before. 3) Any stress factors that come up during trading. There are more, but the point is that many things...