My conclusion is No fear, No gain! Without any fear, we would take much higher risk. That's why we do need diversification (in order to reduce the degree of fear)!
The edge that will always be there is the profits/losses from greed and fear of traders all played out through patterns. Capitalize on this edge through patterns recognition and you are set. Sit in front of your screens long enough and patterns will pop out at you. Until then, don't trade.
When you feel depressed filled with doom & gloom you lose your edge. Isn't this whats happening to lots of people here? You can see the threads are filled with doom and gloom. Oh well the Titanic hasn't sunk yet...there is more to come.
If you believe that, then you are going to stay scared pal. Are you trying to telling me that you are going to trade all market the same way - give me a break. FX is different to stocks, the US is different to Oz, 2000-2002 is different to 2005-2007. Different tools for different jobs; a fluid open mindset - thats a real edge. pneuma
If I may I think the thought was that different types of markets (i.e. ES, NQ, ER2, FDAX) can be traded with the same technique (note: not "edge") but modified for various Vol conditions. At least that what I was thinking.