Watch this from 50:48 on Traders Edge. During this discussion here's what Mike said to me on where Edge comes from
The ability to process high level information from the Market, form a view based on it and express it in your Trading in Real Time
smbtraining.com/blog/five-trad…
The ability to process high level information from the Market, form a view based on it and express it in your Trading in Real Time
smbtraining.com/blog/five-trad…
At same time be flexible enough to realize when you're wrong and do complete u turn also in Real Time. Rules are not edge, they are just a framework and great Traders often play around them. Risk Management? The best Traders know when to get really big when it's working for them
Also the ability to keep track of several positions at the same time and be aware of and the lookout for opportunities that may come even as you are nursing a big Position. After reflecting on this, I realized that I do know one Trader who possesses all these attributes in Spades
@PRSundar64 has this fantastic ability to take large Positions based on his views on the Market and even when they are complex, instantly understands the impact that changing Market Conditions have on them and is able to adjust quickly.
Its amazing how he is able to mentally keep track of so many Positions in so many accounts and still be on the hunt for new opportunities. He does hundreds of Trades in a day and his Powers of execution are unparalleled
While he appears highly egoistic on Twitter, his Profits, in the last few months that I've known him, leave Ashwani Gujral in the dust. I can't say how he will do in the next few months but I can safely say that he is one of the best Traders in the Country today
Other learning from this session. Even though several Traders may Trade the same Position as a Team starting from the same Price, the same information and in the same direction, each of them will Trade it differently based on their own beliefs and end up with different Results
