That's the two words that you need to have when you engage the market.
Without an edge, you cannot gain the advantage of being a participant in the market, or else you will just remain a 'participant'.
So what is our edge in the market.
They said if you don't know your 'edge', you don't have one!
There are many factors to consider so that you can have an edge in the market.
After years of learning the market, spend sum of hundreds acquiring and reading trading books, getting pummeled in the market and still not gaining any - that's where you need to find that 'edge' so you can benefit in the market.
I can summarize what edge means based from my own learning in the market, number one is you must and you should know 'who you are'. If you don't know yourself, you don't have an edge.
You must have the passion and love for the market despite being 'beaten'. Coupled with patience and dedication.
You need to have an understanding how the market moves, form an ideas - like 'reading the markets'.
Know and familiarize the instrument you are going to trade, the correlation from other sectors - test and put some trades which one works, learn and master one trade setup (long or short).
Watch the market patterns, observe the behavior of the participants, know when to get in and when to get out.
There lots of list to have an edge and can't print them in detail and this space won't be enough.
That's why I came up with my blog...Observe and Trade!
That's My Edge!
What is yours?
