What's your 'edge'?

[bulldozer]

IN SB the only persons that have the "TRUE EDGE" are the M-mkrs/ SB companies.

The punter's edge is: Discipline, m-management, and having the guts to come OUT early from a loosing trade! And having all of these gifts, its still bloody hard to show a profit at the end of the year! Why? cause your playing against the markets and NOT against other players.

Now with Options its totally dffrt! You CAN find the "EDGE" why? cause it does exist! the reason that i say this is because you are NOT playing against the mrkt your playing against another player! ie one player says the DOW will be higher than 10.400 by xmas another player says it will be lower than 10,400 by xmas. Now its impossible for both players to be correct ONE player has to pay the other! It does NOT matter if the mrkt is at 11k by xmas or below 9k !! Inotherwords you dont have to pin point where the Dow will be at xmas.

ONE guy [option player and option trade] has offered me over $5k BET that the dow will be below 9,300 [lets call him Mr Cool] on the last trading day of Jan 06. Now, if the DOW is not below 9,300 on the close of that day? i keep ALL his Money! Who do you fink has the edge here? and i can still hedge my bet elsewhere if i want!

Bull

 

[SOCRATES]

IN SB the only persons that have the "TRUE EDGE" are the M-mkrs/ SB companies.

The punter's edge is: Discipline, m-management, and having the guts to come OUT early from a loosing trade! And having all of these gifts, its still bloody hard to show a profit at the end of the year! Why? cause your playing against the markets and NOT against other players.

Now with Options its totally dffrt! You CAN find the "EDGE" why? cause it does exist! the reason that i say this is because you are NOT playing against the mrkt your playing against another player! ie one player says the DOW will be higher than 10.400 by xmas another player says it will be lower than 10,400 by xmas. Now its impossible for both players to be correct ONE player has to pay the other! It does NOT matter if the mrkt is at 11k by xmas or below 9k !! Inotherwords you dont have to pin point where the Dow will be at xmas.

ONE guy [option player and option trade] has offered me over $5k BET that the dow will be below 9,300 [lets call him Mr Cool] on the last trading day of Jan 06. Now if the DOW is not below 9,300 on that day close i keep ALL his Money! Who do you fink has the edge here? and i can still hedge my bet elsewhere if i want!

Bull

Hello Bully, nice post !

Obvious, is it not ? But the ultimate edge is knowing whether to commit or not, and "that" is what everyone wants to find out from you, as you have already experienced elsewhere. So keep your powder dry always.

Special Greetings to You post the 200th anniversary of the Battle of Trafalgar.

Did you see the barrage of 52 guns on HMS Victory on television ? Marvellous artillery was it not ? ....Wish I had as many guns as that to fit all the cannonballs I have here piled in heaps like pyramids, you know...

 

[bulldozer]

"Did you see the barrage of 52 guns on HMS Victory on television ? Marvellous artillery was it not ? ....Wish I had as many guns as that to fit all the cannonballs I have here piled in heaps like pyramids, you know..."

===============================================================

Hello Soc,
No i did'nt.
There's only 5 things i watch these days:- Bloomberg TV, My options positions, My bank account, my wife and family. :cheesy: and finally your posts.

I hope your keeping well? Did you like the 169 pointer on Dow and the footsie 65 today? I absolutly loved it! :cheesy: I've written [recieved] lots of puts premiums from the bears last friday.

Bull
Without loosers there can NEVER be winners! God bless the payers [loosers]

 

[SOCRATES]

"Did you see the barrage of 52 guns on HMS Victory on television ? Marvellous artillery was it not ? ....Wish I had as many guns as that to fit all the cannonballs I have here piled in heaps like pyramids, you know..."

===============================================================

Hello Soc,
No i did'nt.
There's only 5 things i watch these days:- Bloomberg TV, My options positions, My bank account, my wife and family. :cheesy: and finally your posts.

I hope your keeping well? Did you like the 169 pointer on Dow and the footsie 65 today? I absolutly loved it! :cheesy: I've written [recieved] lots of puts premiums from the bears last friday.

Bull
Without loosers there can NEVER be winners! God bless the payers [loosers]

Yes Bully and it is not over yet.

Now...you are going to see a lobster come out from under a stone...pink...this time well boiled....because on the Dow thread in my post number 7205 on Monday the 10th after hours, I gave the hint it would be wise to get tucked in long...What happens ? The inevitable of course !..... I am very pleased to hear you are on the right side of things:cheesy: well done !

 

[LION63]

I used to play snooker and pool for money (about 20 years ago) and I had to face a prolific opponent. The task I faced was mammoth and it was reflected in the odds on offer for me to win (5:1); this chap could pot the balls of the lampshade and was a real entertainer. Unfortunately, my game was below average to say the least but I tended to hold my own against most opponents. The match was the best of nine frames.

There was no doubt in my mind that he was beatable and that I would accomplish the task and so I set out my stall accordingly. In the first frame, within a few visits to the table I found myself requiring a few snookers but rather than concede, I decided to implement the first part of my strategy. I walked round the table, chalked my cue, measured the angles, muttered some nonsense, checked the shot variations and finally played a safety shot. The frame lasted another 30 minutes and he won, the second frame followed the same pattern but now I was taking much longer on my shots and speaking much louder. For his part, his shots were more erratic and he had become quite frustrated and the odd swear word had started to creep in.

Now it was time to implement the next part of my strategy otherwise the match would run away from me as I was already 2 - 0 down. I went to the table and potted a couple of balls and then when I was faced with a sitter, I paused, looked round and asked the onlookers what was coming next, before they could respond, I played another safety shot and made a cocky remark. My opponent got so frustrated and annoyed that he just kept thrashing at the balls and eventually broke his cue tip. He lost the frame and during the next one, he complained about by slowness and futile shot analysis - he lost the frame and we were level.

With my objectives achieved to date, I now decided to implement the final part of my strategy - Go for the jugular. I quickened the pace and won the next three frames quite easily and collected my considerable wagers from the opponent and other backers.

I did not beat him because I was a better player than him or because I was lucky. On the contrary, I accepted my limitations and decided to use them as an asset; I also sought out the chinks in his armour and used them to my benefit. They became myEDGE.

 

[SOCRATES]

I used to play snooker and pool for money (about 20 years ago) and I had to face a prolific opponent. The task I faced was mammoth and it was reflected in the odds on offer for me to win (5:1); this chap could pot the balls of the lampshade and was a real entertainer. Unfortunately, my game was below average to say the least but I tended to hold my own against most opponents. The match was the best of nine frames.

There was no doubt in my mind that he was beatable and that I would accomplish the task and so I set out my stall accordingly. In the first frame, within a few visits to the table I found myself requiring a few snookers but rather than concede, I decided to implement the first part of my strategy. I walked round the table, chalked my cue, measured the angles, muttered some nonsense, checked the shot variations and finally played a safety shot. The frame lasted another 30 minutes and he won, the second frame followed the same pattern but now I was taking much longer on my shots and speaking much louder. For his part, his shots were more erratic and he had become quite frustrated and the odd swear word had started to creep in.

Now it was time to implement the next part of my strategy otherwise the match would run away from me as I was already 2 - 0 down. I went to the table and potted a couple of balls and then when I was faced with a sitter, I paused, looked round and asked the onlookers what was coming next, before they could respond, I played another safety shot and made a cocky remark. My opponent got so frustrated and annoyed that he just kept thrashing at the balls and eventually broke his cue tip. He lost the frame and during the next one, he complained about by slowness and futile shot analysis - he lost the frame and we were level.

With my objectives achieved to date, I now decided to implement the final part of my strategy - Go for the jugular. I quickened the pace and won the next three frames quite easily and collected my considerable wagers from the opponent and other backers.

I did not beat him because I was a better player than him or because I was lucky. On the contrary, I accepted my limitations and decided to use them as an asset; I also sought out the chinks in his armour and used them to my benefit. They became myEDGE.

Good afternoon Lion,

Your ultimate edge was your ability to pot the balls. What you describe here is a strategy, which is a planned method of achieving some objective. You happened to choose the correct strategy to meet your objective in a scenario involving tactical decisions dependent upon conditions of uncertainty, which is always difficult but infrequently impossible.

I sincerely hope and expect you do not mind if I expand on this. It was this uncertainty you were able to emphasise by stimulating your opponent in such a way as to render him disempowered.

In this example you give, there is a very important lesson for many traders to learn and indeed master. Those who do not master the concept go on to become serial traders with potentially disastrous consequences.

This is because instead of succumbing to being emotionally stimulated by price movement the correct posture to adopt is to seek to recognise that the majority of price action is irrelevant and should be ignored, and that only worthwhile opportunities should be seized as and when they become available, by becoming disconnected from the stimulus, its cause and indeed its source, and remain focused on the correct tactic to be used, or, to abstain altogether if market conditions are not right.

Very Kind Regards.

 

[SOCRATES]

I have a couple of minutes, and I would like to add to the above comment that I have always been a fan of Admiral Lord Nelson and have studied his ideas and his achievements very closely and in great detail.
He was a superlative tactician. His fearlessness and ability to pinpoint the opportunity and to discount the danger made him a remarkable figure in British Naval History. A study of all his battles, particularly Copenhagen, The NIle and Trafalgar, will help many traders realise the importance of proper planning, superlative tactics and rapid, decisive execution.

 

[LION63]

Good afternoon Socrates,

I stand corrected and fully accept your analysis of the situation that I recalled.

The main reason for posting it was to show that despite the fact that an individual might be at a disadvantage, with the right attitude and application, aims and objectives can be achieved. There is no point in moaning that the professionals have more capital, information and lower fees; on the contrary one should be able to trade with the tools available and develop strategies that enhance returns and strike rates.

 

[SOCRATES]

Good afternoon Socrates,

I stand corrected and fully accept your analysis of the situation that I recalled.

The main reason for posting it was to show that despite the fact that an individual might be at a disadvantage, with the right attitude and application, aims and objectives can be achieved. There is no point in moaning that the professionals have more capital, information and lower fees; on the contrary one should be able to trade with the tools available and develop strategies that enhance returns and strike rates.

Perfectly correct, absolutely right.

 

[bulldozer]

Hello Lion,

Long time no spk. How are you keeping and hows your options trading doin?

I like the scenario you gave on snooker.
My edge is very similar to yours that i use in options. I look for the players[opponents] weekness first, then i trade against them on my rules and conditions and i always have ready a plan of escape from a sticky situation and still come out on top. But i also must add that my plan can only work with a big pot and it will fail with small pot. The same way as a poker player who has a pot 20 times larger than his opponents.

Bull

 

[LION63]

i trade against them on my rules and conditions and i always have ready a plan of escape from a sticky situation and still come out on top. But i also must add that my plan can only work with a big pot and it will fail with small pot. The same way as a poker player who has a pot 20 times larger than his opponents.

Bull

Good afternoon to you Sir,

Many of us are or have been guilty of changing course midstream and hence the reason for failure. We tend to forget that this is a numbers game and the larger the pot, the easier it is to make money. There is a saying that "Sometimes little fish are sweet." Unfortunately, the individual trader cannot justify this as the numbers seem too small but, if one were to step back and make a proper observation and do proper calculations, they are the easiest to obtain and are more consistent.

Another problem that traders have is that having decided on a course of action, they then listen to the crowd who constantly tell them how stupid their ideas are etc. But the masses are wrong and losing their money, bettter to ignore their OPINIONS and follow one's own VIEWS (Socrates has already explained the difference between the two elsewhere).

 

[Fader]

Yes, in your pants as you say, and not your brains.

Are you hitting on me?

 

[RUDEBOY]

What is the 'essence' of trading? What is the bottom line? If a person was told to make 'points' from a certain market, sell if you think it is going to go down and vice versa, what would they think and do as complete novices in the beginning, with absolutely no outside interference. It is just themselves, a market and what i have said above. They are not allowed to fade in or out, it's just point for point. To make it really simple one British Pound for one point. Give them 100,000 British pounds, give them a broker and a price chart (for any chosen market) of thier choice, with all the time frames. Give them one year. How would they get on? Use 100 people from a variety of backgrounds. If you had to overlook these people and thier thoughts and feelings throughout the twelve months, who would have the 'edge'? Why? As a human being, what would tell you that these or this certain person had an edge, if they had one at all. Is an 'edge' explainable, psychologically? Are we all not different? If you are indeed different to the next person, how do you denote 'EDGE'? The more money the better the edege? Or just breaking a small profit? What matters? Or are we all too obsessed?

Can you explain success? Or does success only come about when you are trading for somebody else? If that is so. Can you make somebody else happy?

My point, as you may well know, is 'comparison'. The question is? Who do you compare yourself to? A person? The market? You?

Who or what?

(multiple posts merged by JumpOff)

 

[Dispassionate]

What's my edge? Simple. The trend.

 

[SOCRATES]

Are you hitting on me?

No I am not hitting anything. I am merely observing you are apt to make pronouncements that can only result from you engaging the wrong end of your anatomy in your thinking processes, and consequently the end out of which they come out is the wrong one.

 

[SOCRATES]

What's my edge? Simple. The trend.

With respect, but following a trend is not an edge, it is the hallmark of prudent trading, whereas imprudent trading is the act of forcing, by trying to disregard and indeed try to buck the trend instead , I respectfully submit.

 

[Pitscum]

complete crap being written by the same OLD members on here..whats this u need a big pot to win?

legions of traders did it for themselves on the liffe starting with less than 10k very often borrowed on credit cards to get themselves rocking. if a big pot exists to carry you when you're wrong about the market (again) then you're not as hot as you think you are. we loved big swingers defending their postions because they forgot the golden rule...no one knows where a market will go for certain and no one is bigger than the market. unless your name is bull, of course.

if anything, and its true today in arcades across the uk, the lad with the smaller stakes fight harder for his euro than the fat lazy swinger trader who thinks hes above learning the rules of the game...

 

[counter_violent]

Good post Pit,

Makes me tired also reading all this " i'm better and more important than you crap" spouted on here.

Just gets to the point where it's easier to switch off, than be bothered rising to it !

C V

 

[zigglewigler]

legions of traders did it for themselves on the liffe starting with less than 10k very often borrowed on credit cards to get themselves rocking

And when the Liffe pits closed, all the easy pickings disappeared, those traders tried electronic trading and most failed.

 

[Pitscum]

errr..says who??? jealous are we??hmmmmm