Browse: Home > Learn What to Pay Attention to and How Things Work in the FX Market
Saturday, June 26, 2010
If you've read Jack Schwager's 'The New Market Wizards,' he finds there are three things the best of the best traders have in common. One of them is they all have an edge in trading. What is meant by having an edge?
It means having a unique approach, system or perspective on the market that is tested, clear and unique. They find these edge's and apply them to the markets. Your goal as a trader is to find an edge. The question is which one?
In reality, there are many edge's which will work. There are tons of traders who can make a system work while others cannot with the same system. It is not too important which one you take as long as it has;
a) an edge
b) it matches your overall personality
Finding an edge with a in place is not hard, finding one with b takes a little more effort because it requires you to understand yourself. It means finding a trading method you can trade and live with day in day out - not something that satisfies your ego or fantasies of what you'd like trading to be. We all want to make boatloads of money as fast as possible - this is the time of instant gratification. And rightfully so, who wouldn't prefer making money now as opposed to 3mos or 1year later?
The bottom line is you have to find an edge that is adaptable but to find an edge you have to understand how things work and what to look for. Once you have those, you can go about finding an edge. What we are going to cover in this eBook is;
1) How things work in the forex market
2) How to find the 'where' to get in
3) How you can get an edge knowing these two things