Still need a winning entry and exit strategy.Prudent Risk Management is the only true edge in trading.
If you mean knowing exactly where to enter and exit, then no you do not need that.Still need a winning entry and exit strategy.
What you do need though is an ability to cut losses short and let winners run to maturity. --And this has to be related to your account size and TLNW. Most folks can't implement PRM. Those that do are the winners. PRM is the edge.Still need a winning entry and exit strategy.
This analogy has nothing to do, and no correlation with, the subject at hand. (Anyway, it would seem to me that a gunfighter exercising extreme caution and not risking his life in the first place would be the big winner.)Back in the day in the saloon the gunfighter's edge was his ability to shoot straight as well as fast. One is no good without the other.
So do you enter at random?If you mean knowing exactly where to enter and exit, then no you do not need that.
Since you don't seem to know the definition of edge I would be curious what your definition of fairly consistent healthy return would be.