terrific MB. As I say, if you believe in everything that you have written, then just go with it. In the meantime, trading will continue to be nothing more nor less than making consistent big money. Less than 15% of the strikes make up more than 80% of the market. The traders placing these strikes do so because they want to make consistent big profits. In the end, we are all so diverse that our opinions and reasons simply do not count. And so if someone says they have an edge... then knock yourself out, because the only one impressed is them. The beauty of trading lies in its simplicity. Either the next trade yields a profit or a loss for the trader. It is how the game is stung together that makes the difference. regards f9
You seem to contradict yourself. You think it is possible to have good win/lose probabilities, trading methodology with a positive expectancy, capitalization to trade the methodology and discipline to trade the method and yet think there is nothing like edge! Well all that constitutes an edge!!
Most traders (at least the one's on ET anyways) do not have an edge. It's obvious... They'd rather waste their time squabbling back and forth about what an edge is, what an edge isn't, who has an edge etc etc etc. If they had an edge they'd be trading it making money. Either that or the complete reverse. They all have edges and have turned them into automated trading systems which frees them up to go on a chat board and argue about what an edge is... either way... lol - mnx
I've never read jack's book , I can't vouch for others definition of edge , but to me it's simply ( as i said before) have the probablity of winning in ones favor , some call it profit factor , that over an infinite amount of trades ( to discount chance) one comes out ahead . In fact the term edge is used in precisely this manner to describe how much the house takes on games such as roulette "the house has the edge "in this instance 5.23%in u.s. and 2.7% on european roulette ( according to wikipedia), it's a very obvious concept!!!
i will not hurt cheat or steal to get an edge but when one drops in my lap like your closed mind i'll take full advantage of it. mb ps i love you man... http://www.purebytes.com/archives/omega/2001/msg10719.html
an edge is something others do not have. like a trading style. some people like to play successful minute to minute trading, but some people like warren buffet, they have the patience to select the most potential, go for it, they can ride the market up/down for long time. do not misunderstand edge with trading strategy.