More HOGWASH! Odds are that I've made at least 100X in the markets to whatever you've made*. And I don't believe in "edge". Not only do I not have one, I've never seen one (well, not legal ones).... regardless. There are NO legal edges. Observation/Deduction/Discipline, assuming you have that, is not "edge". *Not a comment about you specifically... applies to all but a handful of ETers.
Scataphagos, If no edge, did your 'observation/deduction/discipline' come easy to you? Was it simple or complicated? Take a while or not?
. Interesting question... When I first started trading I had the notion, "I'll gather ALL THE DATA.. and distill it down to the ESSENCE".... My first real-time trading rig cost $10,000... a satellite system before the internet. Well, that didn't work.... too many conflicts to make consistent decisions. The essence is in the "simplicity" (not as simple as it sounds)... Look for "regularities and correlation to price behavior". KISS. Use stops. Don't let one bad patch wipe you out.
If you win in the market, you have some type of "edge", whether it be legal or not. Therefore, front running, insider info, or observation/deduction/discipline would all be an "edge". If you have no "edge", you have no win.
I'll make it easy for you..how about a measly $50K. I'll show my account statements and you show yours. We can discuss the details.
Maybe it's a matter of semantics... A gambling "edge" is like counting cards in black jack. When the deck count is favorable, you up the bet. When not favorable, you bet small. That's an edge... not one the house likes, of course. An edge in trading would be like "front running" other players because you got advance information. That's illegal in our markets.
If you've made "only" $1 Million, you lose. If you've made more, then perhaps you're "one of the few"... congrats to you. :>)