If You Can't Explain Your Edge, You Don't Have One

A trader says his edge is "buying support." Why does it work? Why does price bounce? Who's on the other side? Where's the data that it pays after fees? Silence at every step. He doesn't have an edge. He has a phrase he repeats while he loses.

A real edge survives three questions: why it works, who's on the losing side, and where the data proves it pays. Miss any one, and you're gambling with extra steps.

Read the full issue on Substack →