Recorded Webinar of Mark Douglas

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Mark Douglas wrote The Disciplined Trader & Trading in the Zone. This takes you to a recorded webinar by Mark Douglas:

http://www.woodiescciclub.com/Lectures/mark-douglas/index.htm

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great webinar its allways nice to hear him or read his books

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Mark Douglas wrote The Disciplined Trader & Trading in the Zone. This takes you to a recorded webinar by Mark Douglas:

http://www.woodiescciclub.com/Lectures/mark-douglas/index.htm

In the recording, Mark Douglas defines what the word edge means.

He say an edge "is nothing more than a higher probability of one thing happening over another."

Well, as a trend follower, I would just change one little wording. Instead of the word probability, I would change it to expectancy.

Now, everytime I hear him saying that sentence, I automatically translate his words to this:

"An Edge is nothing more than something having a higher expectancy over another."

As a trend follower, I don't really care about reliability of a system (reliablity of trend following systems are generally below 40 or 50 %.) However, expectancy of such systems are generally extremely high (super high).

cheers.