Well he is the one who said the ONLY EDGE IS PRUDENT RISK MANAGEMENT. So, in this thread he has taken 5 trades. Four are losers. 1 point, 2 point, 3.5 points, 30.25 points. Zero winners. He has a 5th trade open. The above is neither an edge (which he doesn't believe exists other than PRM) nor is it PRM. To lose over 30 points on one trade in ES intraday is not prudent...at least in my books. Hence my comment he should make haste and find an edge. Plus in his comments in this thread he is talking probability in terms of what price may, or may not do, so in effect he is talking about an edge which he claims to not believe in. Apparently he believes the market is random and the only edge is PRM. However, look at any chart pre HFT OR NOW even with algos and HFT's dominating and any chart has B.O.'s, CHANNELS, RANGES, P.B. REVERSALS, FLAGS, WEDGES...ETC ad nauseum...and they are repeatable and can be anticipated via probability. For instance, about 70% of range b.o.'s fail and price goes back in the range. Can that be captialized on as an edge! You bet. Eventually, a b.o. will succeed and the range will end but even then there are ways to determine which direction the b.o. will most likely happen. One can load the boat just before the b.o. starts hence getting a "jump" on the B.O. All of this is trading with an edge.
