I am up 19.77% YTD and still don't know what my edge is!

Discussion in 'Trading' started by tonyf, Jul 29, 2022.

  1. easymon1

    easymon1

    How would you define the word discipline?
     
    #91     Jul 30, 2022
  2. wmwmw

    wmwmw

    Those who call discipline an edge never understand what an edge is.

    A losing trader can be more disciplined than a winning trader. He just needs to stick his losing plan strictly. Then he is perfectly disciplined.
     
    #92     Jul 30, 2022
    beginner66 and earth_imperator like this.
  3. schizo

    schizo

    Well, you need more than just a few tests of validation to become successful although that might be a start. Moreover, instead of relying on personality, you need a set of rules to fall back on. Trading should be a rule-based system. Whether you're discretionary or algo, rules should be rigidly followed.
     
    #93     Jul 30, 2022
  4. Why do I hear this kind of stuff from people who don't acutally trade
     
    #94     Jul 30, 2022
    earth_imperator likes this.
  5. tonyf

    tonyf

    I wouldn't neither.
     
    #95     Jul 30, 2022
  6. tonyf

    tonyf

    I read SEC fillings voraciously.
     
    #96     Jul 30, 2022
    nooby_mcnoob, taowave and KGTrader4 like this.
  7. deaddog

    deaddog

    Don't discount hard work as being part of your edge.
     
    #97     Jul 30, 2022
    Sprout and nooby_mcnoob like this.
  8. The market doesn't care how hard a trader is working...to solve that magical puzzle of generating money from the market.

    There are a ton of old fools in this business with decades of so-called experience, but have nothing to show for it.
    Intelligence is more important than some guy who is beating his head against a wall getting nowhere, while doing the same thing over and over again.

    99.2% of people in this trading game are failures, that's a given.
    What makes the .8% winners....ask yourself this,
     
    #98     Jul 30, 2022
  9. easymon1

    easymon1

  10. tonyf

    tonyf

    I think
    I
    The honest truth is that success is deterministic. You cant really learn it however hard you try. Some are lucky for short period of times, but successful armchair traders had a long career as pros making money for other people. So a back ground on Wall Street or at a successful hedge fund is very important in my view. You get the odd exception but they are statistically a fart in a storm: small impact.

    I learned discipline by being "disciplined" for 8 years by pros.
     
    #100     Jul 31, 2022
    cesfx likes this.