Many books and individuals speak of an EDGE, I'm just curious what most trades on this board think is their EDGE in the market? Feel free to put as much or little as you want. White
Ok I can give you a long list Knowing when not to trade Willing to be wrong and be stopped out 8 years of experience Knowing how to read the tape Discipline Patience knowning when the specialist has a position and trading with him Good health High end equipment Use of different time frames Good understanding of position sizing Having multiple traders around me who are profitable and giving me ideas My journal Positive state of mind A well prepared business plan Echotrade Bullets/Conversions Professional Margin Willing to teach others Learn from mistakes Positive expectancy systems Having a firm that has dual servers in case of another WTC Worse case contigency plans Ability to call my trade desk to exit all positions in less than a second love of trading That should give you some ideas to fish with Robert Tharp
<i>Our edge is all the new traders out there.</i> That edge used to be HUGE back during the nasdaq boom, when every idiot and their brother was a day trader.
All of what he said, except the "echo" part....(just kidding). I just spent quite a bit of time today with a magazine publisher talking about the "edge" we have as Professional, Proprietary traders. I am sure he will cut it down to a few simple things: Market access, Costs, Capital usage, and successful trading environments (much like a trading floor). Success breeds success, and the success of it's traders is all that should matter to any firm.