A psychologist and a retail trader in a private therapy session:
"This edge you're talking about. Is it with us in the room right now?"
"This edge you're talking about. Is it with us in the room right now?"
How to find an edge ?
- Thread starter Sekiyo
- Start date
A psychologist and a retail trader in a private therapy session:
"This edge you're talking about. Is it with us in the room right now?"
About 1975 I saw an old friend coming back from college. In his place he had "A stick" he was playing...See below.
He said "nobody understands my music"...
I'm thinking..."Yeah, they understand your music!! It's terrible..."
It's like saying "people just don't understand my trading style"...
Good Evening traider,
Great questions. I will answer in detail for myself only.
My answers are:
1. I have no idea what trading edge is.
2. I never want to know what trading edge is.
3. I think determining trading edge is a complete waste of my time.
When I make $2 million in the ES futures market, I will be rich. That is all I need to know, I do not care about anything else trading wise.
Trying to figure out or find a trading edge is a waste of my time.
Also, when I find my trading edge or a system that makes me a lot of money, I will NEVER EVER share with anyone in my life or post about on ET website forum. I will die with how I made $2million.
I will just post a finally am the ES master millionaire and show my proof and brag to other ET forum members.
What I am doing now in the ES futures everyday just makes money. I do not care about all that other bullshit.
$11,000 made today and counting.
I am in a middle of a trade now while talking to you.
And I have NO clue what trading edge means. LOL, and never read a trading book from Amazon, and never ever will in a million years.
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1. For small traderz, it is the freedom to exit at any time and not move the price
2. Risk Management
3. When your money is worth nothing, you will not be concerned about losing it!
Good Evening Wide Tailz,
I am not sure I understand you my friend.
I have no clue in the world what risk management means and do not want to know what it means.
I just want to be the ES Master and get rich, QUICKLY. I just have no time to learn trading anymore.
Time for my walk from eye pain and headache pain.
https://www.elitetrader.com/et/threads/how-to-find-an-edge.380858/page-5#post-6010879
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Yes -- Great Plan and you are well on your way having paid your dues...
It should be "obvious" by now that if you really want an edge, look at all the accounts of everyone who is losing and take the other side of their trade. This was once called "running a bucket shop", and there may still be brokerages that do this.
How else are they gonna pay the electric bill for that server farm now that commissions are zero?
In all seriousness, the final clue I am going to try to give you is to reverse your thinking. Charles Munger advocated for this continually before receiving his eternal reward.
What is the opposite of getting rich? Losing everything.
Therefore, begin looking for ways to not lose.
Look for the double negative. The counterstrike, not the haymaker.
The ambush, not the attack.
The upside may begin to present itself when you are no longer vulnerable.
Can you see on a chart where price reaches a DECISION POINT?
When the avalanche begins, it's a pretty low risk trade to bet it will continue!
A simple way to understand edge is as the reason why you think you will make money on a trade. The fact that many people do not have such a reason partially explains why Ken Griffen is so rich.