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Support / Knowledge Emporium / Gaining the Elusive Edge

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.

More Articles:
Gaining the Elusive Edge
Thinking Traders' Way to Regular Profit
Neural Networks: Understand to Win
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Fibonacci: the Wandererís Conundrum
Gann Studies: Reality Behind Legend
Andrewsís Pitchfork: Thinking Approach
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