Often, I write articles about the importance of having or owning a competitive edge. It is amazing to me that people in general focus very little on this most important topic. Most traders read trading books and learn to buy and sell where everyone else who reads the books buys and sells, which ensures you they not have an edge. With most things in life, trading for sure, there is a winner and a loser. The consistent winner has an edge over the loser that includes two things:
1) Mental: Having a mental edge is a combination of proper reality-based thinking (void of illusion), having extreme self control, and focus.
2) Strategy: Having a strategic edge means owning a rule-based strategy that ensures success over your opponent. Your strategy must offer you the lowest risk, highest reward, and highest probability entry.
I started my career on the floor of the Chicago Mercantile Exchange facilitating institutional order flow. In other words, I started on the institution side of the business, not the retail side. So, I had the privilege of learning how the game of making and losing money really happens in trading. In this piece, I want to share with you one of the tricks that allow Online Trading Academy students to enjoy a trading edge that can’t be… Continue Reading
