CL Redux

Quote from Swan Noir:

While I trade CL, I'm not a regular participant in this thread. That said, I feel what you've said here deserves a comment. Unless you feel you have an edge you might be better off trading in SIM. Hard enough to execute consitently when you have an edge but not having one simply leaks money.

If you are in SIM (or just think I should mind my own business) my apologies. BTW ... nice job on the 50t trade. Hanging tough when you have 30 or 40t can be difficult.
More...

I always welcome any input Swan.

I guess the issue is with my definition of 'edge'.
I think of an 'edge' as something MUCH more powerful than, as Nodoji mention, buying the pullbacks at the 21ema or anything like that.

I'd go as far as to say that Pretty much nobody on this site has an 'edge' (by my definition), since I think of an edge as a clear advantage over others.

Think; Seeing customer order flow (e.g. working at a big bank)
Market making a product with a wide bid/ask spread .
Having a deep understanding of a market with good connections to gain specialized information (e.g. distressed debt trading at DE Shaw) etc


How can we had an advantage over others if all of us here are looking at the same things.

That Sellindevol666 guy clearly seems to have an 'edge' but I get the distinct feeling that he's not really using price actions/charts/TA etc to make his trading decisions.

So even though I mentioned my 'lack of edge', I consider myself to have as much of an 'edge' as you or anybody else in this thread. I think you can make money without the sort of edge that I think I am referring too in my own mind when I use that word, but it's a hell of a lot harder!
 
pinkman ... I suspect we will end up agreeing to disagree but let me tell you how radically different my take is from yours.

Jeff Beck, Eric Clapton and the late Jimmy Hendrix all started with the same sheet music yet they all produced vastly different interpertations of the same piece and all three of them had huge edges over the guitar player now appearing in the lounge of your (or my) local Holiday Inn.

To bring it closer to home, pre PC thousands of traders showed up on various floors every morning to trade and were cleared by the same handful of firms. Of course there was brokerage income to be had which was driven by connections but in terms of straight trading income most had access to the same information. Some of them made money 45 (or more) weeks of every year for 25+ years and accumulated significant sums -- even eight figure fortunes, others made one or two hundred thousand a year and still others washed out.

Connections are a lovely thing in life and I have benifited at times from them in businesses I have owned in five countries. But in each of those businesses while I believe I would have been less succesful without any family and other connections I would have still had solid successes in each of those endevors. In each case the basic business model made sense and I, my partners (when I had them) and staff executed reasonably well..

To me the beauty of liquid markets is that price is always transparent. The footprints are there ... the only question is am I good enough to see them, interpert them correctly and then take the appropriate action. I'm not suggesting it is easy but easy or hard that is the job. I don't want to put words in your mouth but you seem to be saying the footprints alone are not enough. I think you are dead wrong.
 
You must log in or register to reply here.
Back
Top