Hello tonyf, Good forum. I am discretionary intraday trader. I keep reading and hearing about this edge, but I honestly don't know if I have one. I have to say what is my edge. My edge is Me and believing in what I see on the chart and keep journaling my progress and PnL. I really don't understand this edge stuff. If I take X,XXX trades and that leads to making alot money, I guess I have an edge. I see when I get there.
Exactly vanzandt. I would add to this, take notes and track progress. Staring at the chart and making good decisions.
I always think along these line... Hedging is like paying insurance, there's a cost involved. I prefer to just exit.
At some point in time one needs to remove the hedge, so that becomes another trade which is timed according to your wants, so why not forget another hedged trade with its decisions and just jump in and out of the first trade position?
I agree with this part here. This whole edge stuff to me sounds like someone cheating with a guaranteed way to make money if trader does XYZ everytime. I don't even think about edge stuff. As a matter of fact, I don't have no damn edge. I stare at the chart and make bets price will go one way or the other based on my own decision making.