Prudent money management is most certainly the only true edge in trading. Inthe fullness of time. I believe you will come to realize this as well.
To me, an edge is something that gives you a high probability of getting the direction right on your trade. Money management is irrelevant in that respect. I think an edge is something like insider knowledge.
Sadly, this is incorrect. It truly is the implementation of prudent money management that is the only true edge in successful trading. Anyone can forecast direction using a myriad of techniques. Those are not edges. --Practicing prudent money management is an edge though.
Not from what ive seen! I've found one person on twitter, and one on trade2win who seem to be able to demonstrate this ability (in real time) Still, agree to disagree. I don't think money management is an edge.
LOL @ this fucking aspie piker, parroting the same shit ad infinitum Money management (aka exit management, stop loss blabla) is a PRE-REQUISITE for a profitable system. In & of itself NOT an edge. All the "prudent use of capital" (money management, stop loss blabla) won't do shit in roulette (or any game or trading) where and/or if players have NO EDGE Might last longer with prudent money management but eventually many small losses will dwindle the account. Even a monkey can win at blackjack over the short term thru luck alone. But long term with no edge? No chance Why don't you prove your "edge" by playing the casino (eg roulette, baccarat where the player has no edge) with your "prudent money management" & see how long your grubstake lasts... Eventually it will dwindle to ZERO, in the long run. Hilarious how in all these "edge" idle chit chat threads...according to most here, "lucky tennis shoes" (ie luck in the short term) is an edge LOL @ dipshits
You're correct that you are not alone with these thoughts. I firmly believe that in time, you will come to accept what I have said as the truth however. Those that lose the least when wrong and win the most when right, are the winners. That is prudent money management and is the only true edge in trading. --Everyone knows how to enter using breakouts, breakdowns, trendlines, divergences, SLA scribbles, price drivers and what have you ad nauseum. Those are not the edge. Prudent money management is.
Err no, maybe you'll come to see our side but i doubt it. Take this over to factoryforex they are all this way inclined, 1 poster, had a negative almost random entry method, failed at 1% so dropped to 0.1% same result just 10xs longer. My time as i have only a finite time, has a cost.