You don't need to be in the know to be successful and you don't need any inside information. It doesn't matter what methods these so called powerful banks use. They cannot make a market move of any significance without others seeing it and joining the party. Here I'm not talking intraday about intraday fluctuations. By the end of the day nobody really knows where the market is going and how far it will go, so we are all the same, yeh sure some might start early but you can always jump in with or without inside information.
Cheese, I have to reply to this again. You say there's no such thing as an edge. That is the DUMBEST thing I have ever heard. There's been several posters on this site who have posted their edge. STATISTICALLY QUANTIFIED. You're leading people in the wrong direction with that nonsense.
Very good point, too big a drawdown for me is too painful even though I am only risking one half of one percent on any one trading idea for long term trading commodities. I rather give up huge gains for a smooth equity curve. BUT this comes with where I am in cycle of life as well. If I was back in my twenties, I could recover from huge drawdowns and busted out accounts, but now, there is no way I am going to risk what I have accumulated cause I simply don't have the drive within me to fight to get it back. Although I do have much of my assets in cash and other liquid investments. Your thoughts of risk change as you get older and your drive to continue to pound away hours into the night become less, just a matter of reaching different milestones in the life cycle. My "edge" is discipline, but unlike how many might think. The discipline to backtest over countless years knowing everything and anything about the method to trade. If you thoroughly backtest your method, your stats will tell you ever conceivable aspect of your method, this is the only way to dictate your equity curve. Usually bigger profit targets will make for wilder drawdowns, and smaller targets make for smooth equity curves. When I was young and dumb, I went for bigger is better concept of profits, but losses eventually tell you your "edge" is the discipline to test more and find what works best for your personality as well.
What a bunch of crazy comments in this thread, especially from poster that I think are profitable. Makes you kind of wonder how you rank in this forum. discipline is easy when you have an edge you can believe in. One more post until no 270.