You're confusing two different things here.

Your "Status" is a short, one-line text you can enter about how or what you're doing at the moment. Like a status update on Facebook. You edit this by clicking on the "edit" link next to your status.

To edit a post, you have a short window of time to do so. The edit link for your post is on the post's bottom right-hand corner. It's a button that simply says "Edit." If you don't see that button on your post, then the time allotted for editing your post has expired. (If you still wish to edit it, report the post using the report post icon and include the edits you want made to it.)

Yes, there's a lot of options here! It takes a little while to figure things out if you've never used this kind of forum before online, so take your time...

Best,
DocJohn