SPDR S&P 500 (SPY)

[2bit-nothing]

This is what I have found from another Blogger..

A ring of truth to it

2bit

"This Man Is an Island

A few weeks ago, Carl Futia posted a very insightful passage about the success and failure of speculators. The theme was the coveted Edge, a quality that most, if not all, traders believe in an hope to have, or know to have.

I worked in an Equity Research department for a year, knowing from the first day that in time I would leave it to day trade. I had many successful swing trades, 90% on the short side.

Three weeks after quitting, I jumped right into trading the e-minis. In a month, trading infrequently, I took a time-out as my account had almost gone straight down. Since then, I've kept above water and have been refining my skills and discovering whether I have an edge.

The point of this post is the lesson I learned from Carl. It was to completely stop reading his blog. Today, I have decided to take a step further and will stop reading any blog that has anything to do with ES day trading. That leaves two.

I read these for entertainment, to see what others are thinking, and at times for some hand-holding when I enter a position myself. These have kept me from refining my edge. At this point in my trading, I am influenced by other opinions. Not too much, but enough for it to be worth stopping. Instead of reading others' read of the tape, I'll stick to reading the tape myself. This will accelerate my realization of whether I have an edge. "