Prudent Risk Management Is The Only True Edge In TRADING https://www.elitetrader.com/et/thre...ment-is-the-only-true-edge-in-trading.292728/
Of course you have to mange risk,but to believe that prudent risk management is the ONLY true edge is beyond absurd.. Let me guess,you are a day trader,cash only,no derivatives
Congrats to you, sir. You make money just keeping a simple approach. I like that. But dont you ever feel the need to want to challenge yourself and maximize your opportunuties? Have you done the analysis on how much you could've made using the same approach to RTY last week?
Good Morning Sergio123, Thank you for the response. I am trying to expand to Crude Oil Market and take a lot of money from there just like I do in ES Futures Market. I am not sure I will have enough time in the day to take a lot of money from RTY market.
You dont have time to "take alot money" from other markets?? It's not like you read or study ,so why not devote a couple more hours a day making easy money??
Good post. Just to clarify,the market dynamics can be quite dynamic? Or did you mean can't be quite dynamic?Sorry for noob question. Also,is it really true that success depends on various factors?
I agree with you, both on day trading and on SML. Day trading is hard, my analogy is, every trade is like hunting an illusive and cunning prey. After more than 6 months of combined paper trade and live, I still don't know why I am profitable, so I went back to paper trade at the end of 2023. The more I dig, the more I am convinced I really don't have an "edge". It is either luck or some sort of Martingale. I need to get to the bottom or I won't go back to live trades because if I don't understand it, it is just gambling.