So I was reading how traders say that with out an edge in the market, your gambling and the market will sooner or later have your account balance. I don't disagree with that, a casino is a perfect example.
What is an edge? I think we can all agree it's something you have to your advantage over other market participants.
A few people on this forum that do this for a living obviously are winning consistently. Do they have an edge?
One forum member plays daily pin bars on a chart obvious as can be to everyone. He's consistently profitable.
Another forum member plays break-outs with only a short time frame chart. He too is consistently profitable.
We have order flow traders that use news, information available to everyone. They may know the market and its inefficiencies better than most however.
What I'm getting at here is.
(I want to mention that I don't think most profitable retail traders are more experienced or knowledgeable than the guys at the central banks or Wall Street. I'd say we have an advantage/edge of being minnows in a ocean, where we don't have to look for pools of liquidity to pick up or dump orders. Then again, the big guys produce the order flow that moves the markets and they're concerned with where the liquidity is... So you probably should be too )
Maybe this is obvious to everyone and I'm just thinking out loud, but I feel like too many people get discouraged or look for the holy fail err I mean holy grail their whole trading "careers" instead of just sitting down and spending some good quality time grinding out some knowledge from the vast resources available to us.
What is an edge? I think we can all agree it's something you have to your advantage over other market participants.
A few people on this forum that do this for a living obviously are winning consistently. Do they have an edge?
One forum member plays daily pin bars on a chart obvious as can be to everyone. He's consistently profitable.
Another forum member plays break-outs with only a short time frame chart. He too is consistently profitable.
We have order flow traders that use news, information available to everyone. They may know the market and its inefficiencies better than most however.
What I'm getting at here is.
I think a lot of edges in the market aren't super secret hidden information or things like that. I think most edges in the market just come from being more experienced and knowledgeable than the rest.
(I want to mention that I don't think most profitable retail traders are more experienced or knowledgeable than the guys at the central banks or Wall Street. I'd say we have an advantage/edge of being minnows in a ocean, where we don't have to look for pools of liquidity to pick up or dump orders. Then again, the big guys produce the order flow that moves the markets and they're concerned with where the liquidity is... So you probably should be too )
Maybe this is obvious to everyone and I'm just thinking out loud, but I feel like too many people get discouraged or look for the holy fail err I mean holy grail their whole trading "careers" instead of just sitting down and spending some good quality time grinding out some knowledge from the vast resources available to us.