Hey bling bling, don't stray off course here. The guys on the floor have the edge period. If order flow stops going to the floor then like I said earlier, they can't make any money. But then so is the case with casinos, what if people stop gambling or what about the bookes, what if you stop betting on your fav football team. The whole premise of them making money is based on people doing business with them. So you your point was mute. And about your wedge, dude if you think a declining wedge is edge, oh my god, I have some swamp land in Florida I would like to sell you. Now if you said a gravestone doji or hanging man pattern that would be different. Or when the big squiggly line crosses the little squiggly line. But declining wedge, come on. LOL. As far as casinos go, you are wrong, 99% of the time they let you count cards. In fact they encourage it. Do you know why? Because they know that your probably an idiot and if you don't count perfectly you will actually make your odds worse and they like that. The only guys they throw out are the pro's and most of them are blacklisted anyway.
I think there are different kinds of edges. Market makers have an edge that we regular folks don't. Then you have people who are really good traders and KNOW WHAT THEY'RE DOING. I MEAN, THEY REALLY KNOW WHAT THEY'RE DOING. Those people can have edges and they know it.
I was "reminded" about the eye in the sky from a dealer at Caesers Palace when counting cards in Las Vegas. They do pay attention to this activity. Michael B.
That's an interesting point, but why then are there many former market makers at the prop firm I'm at? Why do more seem to keep coming in? Don't they know they have no edge? Maybe they just wanted to try being suckers for a change.
The obvious edge is a systematic, mathematical or defined edge, like a casino or what floor traders have. But a trader's edge also refer to an edge which is not any of these things, since even floor traders at an open outcry market may not have good access to a consistent flow of paper. (When there's no paper, traders trade the turns just like anyone else.) A trader's edge is not a mathematical or defined advantage but the discipline to apply a pattern of responses to the market which is consistently profitable. The trader's edge is the reaction, knoweldge and skill honed to a degree beyond what 95% of avid traders can achieve. In the minority game of trading, that would make you the consistent winner with the same results as a casino applying its 'rake' game after game: you get all the chips.