HI PURP. no matter whether edge or skillset, a trader must control risk at all times & know when to take profits. greed is a killer for all us. the best traders are risk managers that trade with common sense & know their limitations. its all about learning & growing to be consistent no matter what style you have, but not to chase the makets based on becoming rich. trading is a tough & rewarding endeavor for those that can keep their emotions in check & manage their trades effectively. just my 2 cents.
Ok let me give an example of skill. What Hydro named are great examples of edges. When i say skill = edge, I mean that to a very skilled trader, that is his edge, not that skill is the only edge. Examples of skills: Bankroll management, entry/exit points, the ability to spot patterns, CONTROL OF YOUR EMOTIONS is a great skill. No, what I mean by skill is not how fast you click a mouse.
That's what most newbies think of as some "edge", like supposedly being good at reading charts, etc. Yeah, good luck. You need a LOT more than those simple attributes to make it nowadays.
This is a great point, and a great example of an edge. My question is, if you put an unskilled driver in an Indy/Formula 1 car, how many races can he win? And in the markets, it is full of sharks, full of skilled drivers in Formula 1s, so what is more important? The skill or the car? Both are. But in an environment with all things being equal, the skill is what separates the winners from losers. Thats why skill is his edge. But like I said skill is not the ONLY edge.
It can be both. An edge can be created by skill (as defined by you and many more not defined). In addition, as already descirbed an edge can exist that requires no skill on one's part. I try to create an edge by using statistical analysis. I assume my methodology is what you would define as my "skill". Joe.
jeez just pay me 10 k and end this discussion gimmie gimmi gimmi gimmi your money (singing) gimmie your moonneeyyy I'll accept payments in FUT contracts and stock shares etc. oh what I seem stupid to ya well you've been paying me long time already
No no. I said SUPERIOR skill is an edge. If your ability is just to read some chart, where every average joe is reading the same chart, you have average skill, but NO edge. But if you can find charts that few can find, hence SUPERIOR skill, only then can it become an edge. BTW I never said i had superior skills, infact I dont and am still searching, so dont be defensive
I ABSOLUTELY agree. I never said there were no other edges. However, the preface of the question was, Mav believes skills CANNOT be an edge, because it can be learned. That is the purpose of this poll.