We all know that you need an edge in order to obtain alpha in your trading, or else eventually you will loss in long term due to the commision and slippage. Money management is important as it can prevent any disaster but you still need edge to gain a positive expectancy in long run In option trading, in order to success in long term you need to know either (or better if you know both) the future of: 1) The direction of the underlying (up, down or sideway) or 2) Volatility (up, down or sideway) If you know the price movement or volatily for future, you can then design your strategies to capture the move (up, down or sideway) and profit from them.. But the question is how you know the price movement or volatility in future ? Some claim they can do it by some proprietary knowledge in technical or fundemental analysis, ..but how true are those claim ? I hope those traders in this board that already profit for so many years can answer this question, I know this is a sensitive one as it is aka going to coca-cola and ask for their recipe, ..