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Hi Joe
First off I want to say that part of having an edge
is "dumping".
But if we are talking about an unrealistic dichotomy
then I have to opt for the edge.
I have interpreted your question this way:
" Can I succeed if I have good trade management
but no edge in my trading?"
In other words, if I take 100 trades, I know I will lose
but I am hoping trade management will turn a losing
trading plan into a winning one. The answer for me
is trade management can't do that.
For me the role of trade management is to keep the
losses down and to define the strategy for taking profits.
If there is no edge, there are no profits to manage. In
that situation keeping losses down will merely prolong our
trading life not give us the success we desire.
regards
ray
R Barros
101/25 Market Street
Sydney NSW 2000
Australia
Voice: 61 2 92673470
Fax: 61 2 92673478
E-Mail: rbarros@xxxxxxxxxxxxxxxxxx
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> From: Joe Balsamo <jbalsamo@xxxxxxxxxxx>
> To: realtraders@xxxxxxxxxxxxxx; rbarros@xxxxxxxxxxxxxxxxxx
> Subject: Re: Help understand statment.
> Date: Friday, August 07, 1998 2:38 AM
>
> Question to Ray, or whomever chooses to answer...
>
> Given the following two scenarios, and assuming that it is obvious that
> the best of all possible worlds is to do BOTH...
>
> If you had to choose only ONE scenario, exclusive of the other, which
> would you choose?
>
> 1) Prefer to have an "edge".
>
> -or-
>
> 2) Dump the trade unless the market proves you right?
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