What do you do to get your edge?

[tiddlywinks]

There is no secret sauce.
It’s all plain & obvious but no one see.
Because they look away for what’s hidden scam.

Hahaha.

Agree there is no secret sauce, or more precise to what YOU are cackling about, there is no grail. However there are non-traditional, perhaps esoteric, and perhaps fresh ways of looking at and applying (or not applying) value and purpose to what is seen.

Actually, I lied. There is a grail... there is no grail!

And PRM is not a grail, nor THE ONLY edge.

 

[Buy1Sell2]

I think that is the first lucid description you have ever made regarding PRM.

Anyone can calculate probabilities of the setups they choose to recognize. In which case, "it's what you do with the setups that is the edge" rings true.

However, if there is secret sauce associated with determination of setups, edge can be something other than PRM.

Interesting posting. I would mention however, that there is no secret sauce in determining setups. All setups are well known to plethora of people.

 

[Laissez Faire]

Am surprised.

Why, Mickey?

 

[themickey]

Why, Mickey?

The impression was you were posting sensible stuff including in the ES thread.
I've never felt you didn't know what you were talking about.

 

[Laissez Faire]

The impression was you were posting sensible stuff including in the ES thread.
I've never felt you didn't know what you were talking about.

Oh. For sure. I do know what I'm talking about and I definitely have a good grasp of the market and how it generally moves, but that doesn't necessarily translate into consistent good profits.

Trading for me seems like a very marginal business. If you're not on top of your game it's only too easy to make mistakes.

I've had great runs and made good money in periods, but at the end of the day/week/month I'm just not consistent enough.

If it's because I have no edge or other issues which block me, I don't know, but at the end of the day P&L is the only truth in this game. And truth be told, I have a hunch that there are many impressionable posters on this site who don't make the kind of $$$ they want you to think. But I like to keep it honest and transparent. No desire to be a fake guru on ET.

 

[heispark]

Reading ET........

 

[Sekiyo]

Oh. For sure. I do know what I'm talking about and I definitely have a good grasp of the market and how it generally moves, but that doesn't necessarily translate into consistent good profits.

Trading for me seems like a very marginal business. If you're not on top of your game it's only too easy to make mistakes.

I've had great runs and made good money in periods, but at the end of the day/week/month I'm just not consistent enough.

If it's because I have no edge or other issues which block me, I don't know, but at the end of the day P&L is the only truth in this game. And truth be told, I have a hunch that there are many impressionable posters on this site who don't make the kind of $$$ they want you to think. But I like to keep it honest and transparent. No desire to be a fake guru on ET.

I believe intraday future trading is the toughest game. If I had the money I’d trade equity on a swing basis. IMO this is much simpler to make money over time. Especially those past years with the FED backing the growth ! But IDK what the future is going to be made of and maybe it’s just my personal feeling.

You can trade stuff on the monthly / weekly and get real clear signals. Same with cryptocurrency but the market has to be bullish overall. Right now isn’t the time to swing trade. Too much uncertainty.

 

[themickey]

Oh. For sure. I do know what I'm talking about and I definitely have a good grasp of the market and how it generally moves, but that doesn't necessarily translate into consistent good profits.

Trading for me seems like a very marginal business. If you're not on top of your game it's only too easy to make mistakes.

I've had great runs and made good money in periods, but at the end of the day/week/month I'm just not consistent enough.

If it's because I have no edge or other issues which block me, I don't know, but at the end of the day P&L is the only truth in this game. And truth be told, I have a hunch that there are many impressionable posters on this site who don't make the kind of $$$ they want you to think. But I like to keep it honest and transparent. No desire to be a fake guru on ET.

I'm firmly of the belief the shorter the trading time frame the more difficult it gets.
Now, there are arguments for shorter time frame trading, but what outweighs them in my opinion are; fatigue, more speed reqd therefore more errors (brain can't handle constant fast & prolonged mind changing) and money is only working intermittently and with smaller size.

It's easier imo to work on longer term strategies which work more consistently when not under stress.

The exceptions are for example hft under the control of a team of tacticians.

 

[Laissez Faire]

I believe intraday future trading is the toughest game. If I had the money I’d trade equity on a swing basis. IMO this is much simpler to make money over time. Especially those past years with the FED backing the growth ! But IDK what the future is going to be made of and maybe it’s just my personal feeling.

You can trade stuff on the monthly / weekly and get real clear signals. Same with cryptocurrency but the market has to be bullish overall. Right now isn’t the time to swing trade. Too much uncertainty.

Agree on that. At least over the last 10 years.

I think the more strategies you have; the better. If you're making money on swing trades or long term holds, it's easier to take it easy on your day trades, I think.

 

[Laissez Faire]

I'm firmly of the belief the shorter the trading time frame the more difficult it gets.
Now, there are arguments for shorter time frame trading, but what outweighs them in my opinion are; fatigue, more speed reqd therefore more errors (brain can't handle constant fast & prolonged mind changing) and money is only working intermittently and with smaller size.

It's easier imo to work on longer term strategies which work more consistently when not under stress.

The exceptions are for example hft under the control of a team of tacticians.

Agreed. However, I feel that my stress levels in many ways are higher with trades that I hold for hours or days. Why? I'm constantly thinking/monitoring the position.

With scalping, I'm just quickly in and out. The downside is like you say that the margin of error is much lower and you really need to maintain a high winrate.