I simply cannot agree with the notion of a successful trader over a protracted period of time owes his good fortune to randomness. Nope.
Do you think this is the truth about day trading?
- Thread starter Ates
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I've never really seen a trader who made it over a protracted period of time who didn't have an edge. Now, edges come and go, and edges are as varied as the trader.
It could have been what floor brokers that particular trader was standing next to in the pit, it could be a particular inter market correlation, it could be an order queue placeholder, it could be a particular price action set-up... Any number of things. But there's an edge. There is a reason why a trader can consistently take money out of a market. There is something very specific that the trader has identified and is keying on.
But I've never seen somebody take consistent money out of a market over an extended period of time and say it was randomness.
It could have been what floor brokers that particular trader was standing next to in the pit, it could be a particular inter market correlation, it could be an order queue placeholder, it could be a particular price action set-up... Any number of things. But there's an edge. There is a reason why a trader can consistently take money out of a market. There is something very specific that the trader has identified and is keying on.
But I've never seen somebody take consistent money out of a market over an extended period of time and say it was randomness.
you can’t deny that there is a lot of luck in trading. Specifically we are talking about IB and FXCM Wall Street warriors. Not pit traders who have edge.
I think that there's some element of luck in many things. More of it is "right place and right time" than sheer happenstance, IMO.
as a PM at a big fund in WI told me, it’s still a horse race.