hmm.no edges in the markets
- Thread starter chimera
- Start date
Quote from nitro:
90% of all retail traders lose, they just lose!
Just kidding. I have been on the prop side and on the retail side. Every prop firm I have ever been in rakes in serious cash. Every retail trader I know with a very very few exceptions struggle. If you saw what it takes to succeed, you would quit right now. This game takes money to make money. Then you need brains. Then you need to work your ass off. Then you need technical know-how. Then you need relationships. Then you need to get around silly rules, then you need to do decent volume to get good comissions,. then...It is possible to do this at home in your pajamas if you already have money, but the farther you are from being able to make markets or engage in [statistical] arbitrage, the more risk you have to take with larger sums of money. Read that last sentence 30 times. Read it again. Here is it: but the farther you are from being able to make markets or engage in [statistical] arbitrage, the more risk you have to take with larger sums of money. There is a way around it. Get a job so that you can have systems that only trade with patience, slowly putting away money to fuel a positive edge system. Otherwise, if you are not MMing or Arbitraging, the more pressure you are under to generate streams of income, the faster your money goes out the door.
One day, I am going to write a book and get it off my chest. it will be the only book in the history of books on markets of its kind. I will write it under a pseudonum. Wait, if I use my real name, no one will know it's me
Ive been in a few prop firms, those who were consistenly profitable had one common denominator, averaging down.
Exactly, trader fighter , well stated. This is because no one can accurately time the market Averaging spreads your chances of nailing the pending move. But tell this to the "price action" TA chart readers and they will not accept it as fact. surf
Looks like you have not been able to find an edge or your definition of an edge is different than most.
The first time I heard the word "edge" was when I was a little kid and a broadcaster on TV asked Sugar Ray Leonard what his edge was after Sugar Ray had won the Olympic medal. In fact, I only heard the word "edge" used by athletes until I got older and noticed other folks used that word in different career professions. Simply, an edge to one trader may not be an edge to you.
Regardless to the semantics of the word edge...
Stay in physical shape, keep the mind healthy, eat healthy is a great place to start before any adventure.
By the way, the first edge i discover for myself is to get a good night's sleep prior to trading. Helps tremendously in managing the stress associated with trading and helps reduce the risk of making trading errors in comparison to trading after a sleepless night.
If short, I don't want to have to pay the dividend. In old days, most stocks would go down after dividend was paid, but those rules have changed due to electronic trading most likely. I don't want to get stuck paying the dividend and the stock then also takes a leap up to boot. This was another reason why I generally only trade the Dow 30.
Says the guy who claims his model has called the top for the year and then didn't add to his short when it rallied close to it.