Trading is all about discipline. Ha ha ha

Discussion in 'Trading' started by WhiteOut56, Dec 14, 2010.

  1. I think it is funny why loser traders think they are losing because they lack discipline. 99% of the time it is because they HAVE NO EDGE
     
  2. dozu888

    dozu888

    shhhhhhhhhhhhh

    don't tell them.
     
  3. Actually one can argue that this is true. With discipline they woldw watch their PnL and backtest enough to know that they have no edge.
     
  4. some guy offered to sell me his 'edge' fo $5,000.

    i'll have to test drive the 'edge' before buying ....but he wanted the $5000 befoe selling his 'edge' and no refunds.
    and said he is asking too much for his 'edge' and hanged up on him..

     
  5. dave4532

    dave4532

    Random trading impacts discipline. You are correct but this applies only to short term trading. If you are a trend follower, even if you have an edge you can lose money because of lack of discipline.
     
  6. uxtrader

    uxtrader

    absolutely agree, dave! my case...
     
  7. I think you are correct.

    What would your definition of 'edge' be, out of interest?
     
  8. Some folks consider having discipline as an edge. Thus, an edge can be broken down into different categories as long as you can show statistically that when having it (category) your trading improves in comparison to your trading without it.

    However, usually when someone talks about discipline, it's about a discretionary trader (someone not using a mechanical trading system).

    Further, having discipline as an edge doesn't imply you're going to be profitable. In contrast, it implies you're going to perform better in comparison to your trading without discipline regardless to any other edges you may or may not have.

    Good traders have more than one edge.

    Mark
     
  9. I dont like the 'edge' thing.
    Its just a word people thrown around.
    I dont think that there are any edges(at least by my definition of the word) available to us retail traders.

    An edge is something that the big boy traders in large investment banks have. Not us/
     
  10. Agreed - slipage and commision will kill 99.5 % retail trader, not even mention other additional 'edge' from large investment bankers enjoy and not available to retail traders.
     
    #10     Dec 15, 2010