How did you come across your edge? Accident? Refinement of an idea? Taught?

Quote from CasperCRF:

I've been going back and tweeking old trading setups I used to use and I came across an idea that sucked so bad, it was a perfect setup to take the opposite trade on. That got me thinking, how did most of you come up with your edges? Did you come up with an idea on your own or out of a book and then just keep working it till it started showing results? Did you happen to find something on accident? Were you trained by a mentor? Or some other way?
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For me...it was similar to what Zr1Trader said yet maybe a different route for me. My edge is my entire trading plan (not just the method) and each component of my trading plan was derived via a different route.

* Learned a few things from a family member that was a floor trader and close friends that were institutional traders.

* Ideas of my own

* Accidentally discover a few things

* Learned a few things from books and then made some changes to them to fit my own trading style

* Had a great mentor early in my trading career

Yet, in contrast to many traders I know today...I didn't get anything from discussion forums other than to see a few others using similar like components of my trading plan (I'm not talking about a trade method) because I had my trading plan working well together prior to the first trader forum I joined in late 90's.

In addition, I also realized that the more market experience and trading experience I got...the easier it became to adapt and put things together so that they can work well within my trading plan especially after realizing the markets are always changing. Thus, there's no way I could have done such as a newbie.

Mark
 
Quote from Magic8:

"Edge", ficition. Just make sure you have a day job. That should be your edge.
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Dictionary definition #8 to have a slight advantage or superiority over.


So those who make money trading have no advantage over those who don't?
 
Quote from intradaybill:

http://www.elitetrader.com/vb/showthread.php?s=&postid=2968698#post2968698

Edges should be searched mechanically. Otherwise it is a waste of valuable time.
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It's a proven fact that if someone is a discretionary trader (not using automation), if they are profitable via following their trading plan and not profitable when not following their trading plan...

The edge for a discretionary trader edge is either discipline, the trading plan itself or combination of both. Thus, not a waste of valuable time for a discretionary trader. In contrast, an edge to a mechanical trader is very different.

Therefore, edges are defined different when comparing a discretionary trader versus a mechanical trader. Obviously if a discretionary trader can define his/her method in a mechanical way...

He/she is not a discretionary trader. :cool:

As for the discovery (searching) process to the edge...it really doesn't matter how someone got it...mechanical, someone or website gave it too you, you stole it, long hours in front of the screen, collaboration or whatever...

It doesn't take away the fact it's an edge assuming you're profitable when you use it and not profitable when you don't use it.

Mark
 
Years screen time, tons money wasted, many heart-aching moments. My "edge" is very simple, FA helps where I should aiming for, TA helps where my entry and exit should be, making money by price actions, money management help reducing my lost.
 
[ipartial ]Quote from SteveNYC:[/i]

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A hot ... chick recruited me, Gold.. and an ex-Nasdaq market maker.

I blew out my retail trading account again. I kid you not. True stories.
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Some simply, slowly grind thier account down to nothing;
other do it quickly...:D

Takes Time, there is no substitute, Gold, silver edge , Market Maker's Edge book;
Top Traders books[all 3] by Jack Schwager.

And like Paul Tudor{trader/hunter} Jones said;
by the Grace of God i was in the right place@ right time.
Actually, the childhood nickname/insult ''turtle'' helped.

Use the[mm] multimonth charts in Market Makers Edge book ;
much more than his intraday. data. Thats wisdom.
 
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