Did Your 'Edge' Come Easy?
- Thread starter Chris_Anonymous
- Start date
I want to lose or breakeven in 70% of my trades, but I can do it only on 50%.
Clearly there's an effort by you and others to redefine "edge" as "necessity."
Yes, discipline is a trading necessity. So is money management. For that matter, so is breathing and having a pulse. But to call the latter "edges" completely destroys the meaning of the word.
From dictionary.com:
8. have the edge on , have the edge over: to have a slight advantage or superiority (over).
See, edge is that particular necessity that allows you to win. You can decry my roulette analogy all you want but it is appropriate. There is uncertainty in trading just as there is in gambling. There is winning and losing in trading just as there is in gambling.
Scat mentioned blackjack earlier and that is another perfect analogy. Understanding basic blackjack strategy is a necessity, but it is not an edge. Knowing only basic strategy will merely enable you to lose more slowly at a casino blackjack table than not knowing it.
To get the edge in blackjack, you have to learn advanced strategy aka card counting. Then you'll have the advantage (aka edge) over the casino, so long as they can't catch onto you.
The edge in trading is a strategy that wins more than it loses. This is independent of discipline and independent of money management. This is timing.
Below just my opinions.
Anything that someone can do well but almost everyone else, after practising with his greatest effort, can perform almost the same should not be defined as an edge, which provides a trader to maintain his consistent expectancy (however sometimes greater, other times smaller).
When replacing the edge (kernel?) with other inferior methods, performing all other components (profit optimisation and risk management tools) together cannot win (and lose) consistently.
imo, a method/startegy to generate trading signals/decisions that place timely trades consistently ahead most other traders (legally front running?) should be an edge.
Anything that someone can do well but almost everyone else, after practising with his greatest effort, can perform almost the same should not be defined as an edge, which provides a trader to maintain his consistent expectancy (however sometimes greater, other times smaller).
When replacing the edge (kernel?) with other inferior methods, performing all other components (profit optimisation and risk management tools) together cannot win (and lose) consistently.
imo, a method/startegy to generate trading signals/decisions that place timely trades consistently ahead most other traders (legally front running?) should be an edge.
the word "edge" is so criticaly in trading.
i need so many edges in my trading to succeed, so many.
On the charts, there are so many different price situations and every one needs different edges, to work with high odds.
i need edges in my risk+trade managment to not blow up my money.
i need edges in my selfcontrol to be disciplined and wait for my trades and do not do anything else. cuz anything else = loosing money --- it was a hard way to learn that, that i only can make money if i trade my rule - dosnt matter how good i think i am or how much money i made before - every trade is a new trade - and without following my rules, the market wil SHOW me who rules this game. ITs not me....
The market himself is my GOD in Trading, he is the only true mentor, he never stops teaching me new things....it s an endless selfexploring process.....
Respect to the market
Yes.
when talking on the edges on the charting stuff, you must know the markets in the specific pattern you trade.
Right now i am in a trade for 2 days and it ve come back to retest support resistance and i was waiting for that and stayed calm, because i know the markets do that. not always price retests support and resistance, sometimes it just blow through in one big move.
Selfconfidence is the biggest edge that stand over all the other edges......