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Gaining the Elusive Edge
Looking for an Edge
A competitive edge over the rest is something
everyone in trading is looking for. And whether you consider yourself
just a beginner trader or a seasoned professional who has pretty much
seen and heard it all, you are on this page and that means you are
no exception – you are still looking for a
solution that will give you the edge you need. Why haven’t you
been able to find it before?
The answer to this important question lies in the nature of your attitude
toward trading. Most of those down-on-their-luck traders, who statistically
constitute some 80% of the total number of participants in any of
the world’s markets, steadfastly persist in making one and the
same mistake that prevents them from doing really profitable trading.
What differs is the ways in which the mistake is reproduced by hundreds
of thousands of traders worldwide. So what is this mistake? And what
are the paths that you should not tread on while trying to become
a successful trader?
Traders' Delusion
The scourge of the majority of traders that accounts for most of their
trading failures: is the delusion that a complete grasp of one of
the available trading techniques is what will make them really happy.
Alas, these traders are gravely mistaken, and it does not really matter
which of the commonly accepted techniques they deal with. Take technical
analysis: trading
systems, charting,
pattern
recognition – everyone who has as much as dabbled in trading
has used this technique since time immemorial. Can you really expect
anyone to be able to invent something that will help you succeed here?
And how can a tool used by everyone else be your edge?
Many traders hope that sooner or later they will be able to find and
buy a silver-bullet IT solution to the problem and will not have to
actually think any more. Can you think of anyone who has succeeded
in doing so?
Similarly, neural
network buffs have an unshakable belief in the ability
of neural networks to solve most any kind of problem. Undoubtedly,
neural networks are one of the most powerful tools ever as far as
trading the market is concerned. However, they should be applied at
the right time and place, and, for this very reason, can only be used
when combined with technical analysis and other things.
Three Components of Success
The conclusion one can make is as follows: no standalone specific
technique (or miraculously acquired software, for that matter) or
its perfect command will ever be able to help you succeed. So, here
is the first component of your success – a
well-selected combination of several techniques.
However, you may say that combining two or more techniques is what
many other traders do. Indeed, this combination as such will give
you no edge either. For you to succeed, your combination of methods
must include those that are not used by a majority of other traders.
Thus, using unconventional or your own methods of trading is the second
and equally important component of your success as a trader.
But there is also a third component that is gravely
underestimated by most traders. This component is harmony. In other
words, your combination must be fully in sync with your personality
and risk preferences.
Supporting Trading Efforts
To have full and reliable support during all the legs of your journey
to success, you will require a trading tool that will provide the
best possible basis for your creative efforts. A far cry from the
generic, Tradecision is designed to support the above approach
to trading and is, correspondingly, geared both toward seasoned
traders, who can appreciate the true value of this comprehensive trading
software based on their experience, and toward less experienced or
beginner traders, who realize that if trading the markets were about
looking at curves in a chart from every possible angle, millionaires
would constitute not less than a third of the world’s population.
If you are a thinking trader, we have the solution you need. We
can be confident in saying that the capabilities provided by this
solution for any of the tasks that you may be faced with while developing
your winning strategy are built to support you in all your endeavors
as best as possible.
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