Since I started teaching students of Online Trading Academy, I have obviously taken a great interest in the development of their careers and progress along the way. I have taught a variety of individuals, hailing from different backgrounds and each with their very own reasons for taking on the tough challenge of seeking a life as a professional Forex trader.
Some are just looking for a secondary or supplementary income, some are just looking for a new interest in life and others want to become completely self-sufficient from a consistent and profitable trading career.
No matter the needs or ambitions of the trader, one should fully understand the real requirements for successful trading of any kind and that is all about developing an "edge." I have read many articles and listened to a number of students and traders alike and time over, I hear people talk about their edge in the market; however, I sometimes wonder myself if people know exactly what this edge really is that they love to talk about.
Well, if you are confused about talk of the edge and would love to know more, then I guess today is your lucky day...welcome to the Sam Evans definition of the Trader's Edge.
In my opinion, the edge, as we like to call it, is made up of a number of key aspects which shape any trader or independent speculator's ability to profit from the movements of the financial markets. I would categorize these into the following areas:
- Fundamental and Technical Analysis
- A Plan for Trading
- Risk Management
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