My edge isn't what I thought it was

[zdreg]

this is nonsense and here is why -

if discipline is the only requirement, then automate;
if a trader can't automate with his own money, institutions can.

then why do so many firms invest so much into robots and still can't beat the index.

You can automate but then you have to tweak. Once you finish tweaking you are on automate.
The question is can you tweak successfully? Tweaking means you are being discretionary, We all know the results of being discretionary. You fall behind hide the indices

 

[speedo]

I despise waiting. Waiting for a trade to complete right now, and waiting for conditions to improve. I've read that "Patience" is active waiting.

 

[LanceJ]

I've been saying that, 'I don't know why they call it trading, they should call it waiting". Everyone sees the same chart you see, that is no edge. You have probably been just getting lucky. Trading & Exchanges by Larry Harris helped me recently. Trading smaller also has helped with confidence. GL

 

[wrbtrader]

...Everyone sees the same chart you see, that is no edge. You have probably been just getting lucky...

You're correct, its the same chart but everyone are not looking at that chart the same way nor via the same prior experiences.

Thus, at what point would you rule out luck as the reason for profitable trading ?

wrbtrader

 

[speedo]

You're correct, its the same chart but everyone are not looking at that chart the same way nor via the same prior experiences.

Thus, at what point would you rule out luck as the reason for profitable trading ?

wrbtrader

Correct, charts are like Rorschach panels, we all see different things. Seeing things which made for technical acuity is what makes a technician, transcending that into knowing how to use that information to make profit and executing a plan from that is makes a trader.

 

[SimpleMeLike]

I despise waiting. Waiting for a trade to complete right now, and waiting for conditions to improve. I've read that "Patience" is active waiting.

i Love this.

As traders or anyone, we must identify problems and find solutions and then evaluate

 

[SimpleMeLike]

I despise waiting. Waiting for a trade to complete right now, and waiting for conditions to improve. I've read that "Patience" is active waiting.

I will add the following to your flow chart.

 

[Handle123]

My "edge" has changed couples times each decade. What I once thought it was entry, then charting then indicators and now probability of risks and rewards.

If you can read charts, you can program it, tweaking can be automated as well, some problems due take months and months to get it as you read it. Content makes programming a nightmare, but reworking one's definition and contracting/expanding variances can get one real close.

You know you have it down well when trading gets boring.

 

[remogul92]

You know you have it down well when trading gets boring.

Amen. I couldn’t agree more.

 

[easymon1]

I despise waiting. Waiting for a trade to complete right now, and waiting for conditions to improve. I've read that "Patience" is active waiting.

Look for more trades, or you could learn to play guitar while you wait . . .