Did Your 'Edge' Come Easy?

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There is no easy way.....
the harder the battle - the sweeter the victory....

Once you be the master, then its not anymore just about money, then its just about to master the process itself each and every time. Its a martial art of finance and not everybody can master it.
U have to find yourself in the learning process and recreate a new personality with becoming a master of your business - its a never ending process.....

The money and financial freedom is your reward, but it have no affects on you anymore, bcuz you are focused on your mission to be perfect - and perfection does not allow mistakes.

Pro traders dont make mistakes, thats why they are pros.
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Greetings HTR,

Excellent point HTR! I've got to admit I really liked what you had to say here. I especially liked the statement; "It’s a martial art of finance". I like the way this was phrased.

However, you last statement, I’m thinking isn’t really true for most professionals. I'm thinking that the term "excellence" is more in line with your meaning, but please correct me if I’m mistaken. The human condition being as it is, I don't believe that perfection is really the objective.

I believe that seasoned professional still make mistakes. Less of them to be sure,.......but they still have their "moments". At least I still have my “moments”.

I do however believe that the professional has learned over time to; “Strive to only make the same mistake once”. That is what I believe makes them professionals.

KDASFTG
 
Edges change from time to time, some times really quickly. Our top money makers utilize several different approaches to the market... and they modify them on a nearly daily basis. The common denominator, if there is one, is that although they focus on their particular edge, they also utilize all the other tools in the tool box at the same time. I never share any specifics, of course, but I have to say that I am damn proud of what my guys have done over the years, and am always amazed.

FWIW,

Don
 
Quote from KDASFTG:



"It’s a martial art of finance".

However, you last statement, I’m thinking isn’t really true for most professionals. I'm thinking that the term "excellence" is more in line with your meaning, but please correct me if I’m mistaken. The human condition being as it is, I don't believe that perfection is really the objective.

KDASFTG
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Hi, KDASFTG.

I tell you my opinion:
i dont compare my trading to other trades, i give a fuck about them.
My business is only about me and my obsession to be perfect.
I am a crazy workaholic and a manic-depressive, when it comes to my work - thats no joke - i am serious. But thats exactly the reason why i am making so much money.

Perfection in every aspect is my never ending objective.
If i make an mistake, i am a worthless piece of shit.

When i see a setup to trade, i want to trade it perfect, it dosnt matter how much money i ve made before in the day or week, its only the setup what count, only the "fight" - thats my kick - thats my life essence, thats everything for me. I hate it to lose and i love it to win.

And i dont want to do this shit forever, i am looking forward to the point where i retire of trading, bcuz its stressing to be always perfect. very stressing. no matter what, i must make money every week, good money, so that i can be proud of me and can look in the mirror and dont feel shame. know what i mean.

Its not about beeing a proffessionell trader, thats not so difficult, its about beeing the BEST. Only fighting against your self -> the battlefield is the market. The markets are not my enemy, they are just the playground where i can fight against myself. My weapon is 100% discipline to act how my rules say. Thats all.

Thats not funny or cool.
It sucks, but it must be done, i must do it, bcuz nothing is for free in this world.

So i dont care what you think about my opinion, you can not understand it anyway.

Have a nice weekend.
 
Quote from crazyAtrader:

For me...

It did not come easy, not even challenging, it was actually very hard to see it and even harder to master it and polish it. Years and years and years of very hard work. Not to mention an insane amount of losses, I did not know any better, just like everyone else starting.

My specialty is failed breakouts against a dominant trend, and I try not to trade anything else. By incorporating this and only this, I have become a master of failed breakouts and this allows me to determine quite quickly when I'm wrong, which means take the loss and run, or when I'm right, which means, press those winners as hard as you can because I got a lock on direction and upcoming momentum.

In other words, I like to trade only when one side is getting royally and absolutely fucked and this usually happens when a breakout against the trend, fails.

At first the money was motivational, now I'm just bored out of my mind, but I'm glad I'm done with the beginner and intermediate stages, they truly sucked.

Crazy A
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Thank you for the little gems you drop from time to time on this bulletin board.
 
You have to learn market mechanics which most traders dont. You arent trading off the chart or news or fundamentals. You trade off order flow. You have to be patient and wait for the setups. Understand how large funds move their money around. Know that leveraged etfs must deleverage at the end of the day. Thats why you see the reits and financials move at the end of the day. In this enviroment funds are getting margin calls and liquidating calls. Like the 300k share offer that drove down fcx and when it exhausted at 30.99 it popped a point. Or the NYSE order that drove down IOC the other day. You buy those prints.

The market is not efficient and you have to take advantage of those inefficiencies.
 
Finding a edge take a long time. Its not as easy as coming up with a "edge" its also about understanding WHY it works and HOW to manage your trades. Odds change every minute every candle. And you always need to understand what is happening. A systematic view of how/when to exploit a trading opportunity and then actually placing a flawless trade with zero emotion takes a very long time time and is a aquired skill and is very much an artform.

I am not sure.exactly how many people throwing around the term "edge" actually have one.

A few questions when talking about a edge are emotional and mental control. Can you take a 2k loss obey your rules and make 7k next trade and not care about anything other then WHY the trades work. Do you have the patience and discipline to not trade when your unsure according to your system.

Again a edge is a combination of not only system but emotional detachment, mental toughness, and ability to stay in your system (which is your edge)

One last thing to the poster- mentioning the word easy and anything to do with professional trading is a deadly mistake. Nothing in trading is easy. Nothing in trading is ever given to you. Even the best traders and funds in the world are always at risk. Maintaining your edge and making sure you don't lose is what makes trading one of the hardest professions to be in.
 
Quote from Petrobras:

Finding a edge take a long time. Its not as easy as coming up with a "edge" its also about understanding WHY it works and HOW to manage your trades. Odds change every minute every candle. And you always need to understand what is happening. A systematic view of how/when to exploit a trading opportunity and then actually placing a flawless trade with zero emotion takes a very long time time and is a aquired skill and is very much an artform.

I am not sure.exactly how many people throwing around the term "edge" actually have one.

A few questions when talking about a edge are emotional and mental control. Can you take a 2k loss obey your rules and make 7k next trade and not care about anything other then WHY the trades work. Do you have the patience and discipline to not trade when your unsure according to your system.

Again a edge is a combination of not only system but emotional detachment, mental toughness, and ability to stay in your system (which is your edge)

One last thing to the poster- mentioning the word easy and anything to do with professional trading is a deadly mistake. Nothing in trading is easy. Nothing in trading is ever given to you. Even the best traders and funds in the world are always at risk. Maintaining your edge and making sure you don't lose is what makes trading one of the hardest professions to be in.
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very good post.

thank you.

especially the last sentence:
"Maintaining your edge and making sure you don't lose is what makes trading one of the hardest professions to be in."

You could also add: " maintaining your capital and making sure you dont lose much until the next good profit put your capital to the next level, is why trading 90% psychological and the reason why its the hardest business in the world - and why only people with balls can win constant (sorry for you girls here, you know what i mean). You must have it or you lose. The mothafucking focus all the time.

Risk control is the god of trading, there is not any other business that is more risky than trading in financial markets, not even trading in real estate is sooooo risky like financial markets trading.

So be on guard that the risk factor dont take you out of the game.
To win you must understand that it is a business like any other trading business and not a gambling game....

Have a nice weekend:)
 
Quote from HATEtheRisk:

actually backtesting is the holy grail......
there you find all answers of your questions....
and the you have to check it in "real time" to fix the last bugs....
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not to make light of your comment but the human brain is a lot smarter than a computer,not as fast,but all the data it takes in should thru osmossis tell you where the market is going,when it's resting, when its exhausted a move,turning,keep that in the back of your mind as the holy grail ,not a system,use the systems to find it
 
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