So What is an Edge ?

So what exactly is an Edge?

An edge is an event variable that increases the probability of a positive outcome.

I utilize relevant life and business experiences (Wisdom) to shape my Edges.

If I stop eating potato chips I will increase my odds of loosing weight.

If I purchase a stock, for a long position when the 10 day moving average is above the30 day moving average I increase my chances of making money.

For me, experiences in life and business are made up of four unique components. People, Places, Things, and Situations.

What type of edge can we create to increase the odds of a positive outcome with People, Places, Things, and Situations.

I have drawn the conclusion that these components create random events; and these random events tend to generate unpredictable outcomes.   

You may have heard the phrase "Hedge Your Bets"  For me, an Edge is an informed action.

What do I know (information) that can help me achieve a positive result?

Run or walk, sit or stand, buy or sell, raise an eyebrow or smile are all actions that I might take depending on what information I have presented to me during a situation.

I take an action when I am interested in trying to achieve a positive outcome to a life or business situation.

I rarely take action if I am already experiencing a positive outcome.  I just keep doing what I am doing to continue to achieve the positive outcome.

Am I willing to utilize my Wisdom to take a certain action that has the likelihood  of a positive result?