[QUOTE="Speculate, post: 4161304, member: 489408" You can still make bags of money without trading an edge with talent and understanding. Perhaps more. After reading Alchemy of Finance, I wouldnt say Soros had an 'edge' but he did have great trade management, cut his losses early and let his winners run. Most of his hypothesis on what the market should do based on reflexivity didnt work out did they? Great trader, but no edge as such. Some could disagree and say his concept of reflexivity allowed him to understand that the markets were mispriced where others couldnt see that. It's an interesting point to me. I think if it was a valid edge, then a lot more of his trades would have come good. Eitherway, it's academic, cos the dude milked it - and still is. And thats all that matters at the end of the day. Back to the markets....[/QUOTE] Huh? Positive expectation is necessary, regardless of how it is obtained. But perhaps I am not understanding your idea correctly.
Most edges for manual daytraders end and they end quicker and quicker now. Increasing technological progress guarantees this. Markets adjust and regulatry loopholes close ( example: SOES Bandits). This is why the majority of prop firms have ceased and the majority of winning traders from 15 years ago no longer trade or no longer win. It is not as simple as finally learning to really trade in a set way and raking in the money for decades on end.
Mr. shihpinlo, Marketsurfer is no longer here. You might with to start a new thread with your questions/concerns. This is a 2 year-old thread.
He left? I thought he started to sponsor this site quite recently and didn't expect him to leave. Any reason why he left?