Quote from Daal:
The argument against ultra-selectivity would be a statistical one. If a trader can find 3-5 excellent trades a year its likely he could find several multiples of that in good trades a year
A trader would have to have a very good reason to pass up smaller edges, maybe a time constraint of some kind. Otherwise this would be like playing poker but refusing to steal the blinds with good but not great hands when you know its profitable
Well there is a definite time constraint in many cases i.e. having to do research. There's also the issue of mental focus. I agree there is a certain point at which passing up a trade is simply missing opportunity, question is where that point is.
Poker is a bit different because you aren't going to screw up on a big hand because you stole the blinds the hand before. Unless you are multi-tabling online, in which case you'd not try stealing the blinds if you had a huge pot on another hand - you'd focus on the big play not the small one.