Deal for New trader

[Purple Barney]

Quote from Maverick74:

Again you are confusing edge with skill. I never said one cannot make money through skill and I never said skill cannot be acquired. I don't know why you keep beating this to death. Just stop saying you are going to create edge through skill. LOL. I know it's semantics, but it's important enough a concept to understand.

And on a side note, skilled traders blow up all the time. In many cases it's simply a black swan type event that they can do nothing about. Has nothing to do with skill.

"Luck and chance happen to us all."

Ok i agree with you on one thing, we are definitely going in circles. I'm not confusing anything with anything.

Let me spell it out.

You said one cannot make money in equities, at least not much more than a school teacher.

When I brought up examples of successful traders, you talked about randomness and a luck streak.

You ask me what my edge is, what separates me from the rest, since if i don't have an edge, I won't be making money(or not much more than a school teacher).

So far so good?

Ok.

My answer is. What separates ALL traders, making some very good and some very bad is their level of skill and experience.

And thats how I intend on making money. I don't have it yet. Might never. But thats how I will try. Not that hard to understand.

Whether you want to call it edge or whatever, ALL I am concerned with is how I become better than everyone else, so I can make money.

Yeah you never said you can't make money with skill. Then what are we arguing about?? Can you make more than a school teacher with skill? If yes then end of discussion.

 

[Purple Barney]

Quote from Maverick74:

Yes, that may be true, but that is not edge. LOL.

Ok so 90% of the game is skill then. That settles it. I'm still not quite sure what edge means to you, but who needs an edge when 90% is skill.

 

[Maverick74]

Quote from Purple Barney:

Ok so 90% of the game is skill then. That settles it, I don't want an edge.

I'll tell you what. I wish you the best of luck. Do me a favor. Go trade equities at Echo and come back here in 6 months and 12 months and give us a progress report on how you are doing and I'll see how you are doing against the average teacher salary here in the suburbs of Chicago. Echo is a good firm. I have nothing negative to say about them. Just keep us up to date on how your "skill" is developing. And we'll talk again.

 

[Lights]

Sure it is. Your sample size at MavCo, LLC may just be the status quo.

Quote from Maverick74:

Yes, that may be true, but that is not edge. LOL.

 

[Maverick74]

Quote from Lights:

Sure it is. Your sample size at MavCo, LLC may just be the status quo.

LOL. Care to explain how using your technical analysis for entry constitutes edge? LOL. I'm all ears.

 

[Purple Barney]

Quote from Maverick74:

I'll tell you what. I wish you the best of luck. Do me a favor. Go trade equities at Echo and come back here in 6 months and 12 months and give us a progress report on how you are doing and I'll see how you are doing against the average teacher salary here in the suburbs of Chicago. Echo is a good firm. I have nothing negative to say about them. Just keep us up to date on how your "skill" is developing. And we'll talk again.

Thank you very much. But again, luck will do me no good. But i get what you are saying.

I would love to update you on how I am learning, i think i already wrote previously that since i don't have the necissary skills yet, i probably wont be profitable in 6 months or 12, but I will try my best for sure. Of course whether I become a success or a school teacher has nothing to do with this argument. And proves nothing, except for my own abilities at the time.

Good luck on the pork bellies and random walk theory.

 

[Lights]

You can take two traders with the same t/a and instructions. Buy 100,000 shares XYZ today. One could be up $50,000 and the other down $50,000 end of day.

Quote from Maverick74:

LOL. Care to explain how using your technical analysis for entry constitutes edge? LOL. I'm all ears.

 

[newguy1]

heres an example.

Take a videogame, like mario brothers. Equate getting a high score with being a profitable trader.

Now if you're pretty skilled, you'll make the high score list.

But one day you discover a flaw in the games programming that allows you an additional life everytime you run into a wall.

now winning the game is a lot easier, and gives you more opportunities to rack up a huge score.

Thats a rough analogy to what an edge is; i've always thought of it as a cheat in a videogame. Then mario 2 comes out and they fixed the flaw, so you find a new "game" to play.

make sense?

 

[Purple Barney]

Quote from Maverick74:

LOL. Care to explain how using your technical analysis for entry constitutes edge? LOL. I'm all ears.

This discussion is all semantics and pointless.

Whats the point of trading, making money.

Skill makes you money. Even you admitted.

Point acheived. Who cares if you have an edge or not.

 

[Maverick74]

Quote from Lights:

You can take two traders with the same t/a and instructions. Buy 100,000 shares XYZ today. One could be up $50,000 and the other down $50,000 end of day.

I'm sorry, that has nothing to do with edge. That is skill. The guy that was down 50k could improve his skill and eventually also be up 50k buying the same 100k shares of stock.