Do you have a trading edge? If not, how do you go about getting one? The market is a tough place to earn a living, with the majority of profits going to a minority of traders. Members of this elite group have one thing in common: They all trade plans with proven edges. It's often self-taught because well-known strategies encourage a huge crowd to trade in a specific way. The sheer number of participants ensures the methodology will carry no tradable edge at all.
Awareness of entry and exit pricing defines a trader's edge better than any other technique. This attention aligns perfectly with the position outcome, but it's not as obvious as it may seem. Many traders get fixated on the big picture or underlying trend rather than the specific levels that yield profit or loss, while those who focus ruthlessly on entry and exit are more interested in making money than being right.
Source: The Street
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