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    Chinese Yuan

    The Yuan, CNY/USD controls all.... US media will never admit it tho... it is the one instrument that controls all our destinies.
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    Nuclear Plant Accident in New York

    ahh.. this explains male fish in NY and NJ laying eggs.
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    Fed's Surprise Rate Cut Before Next FOMC??

    these bearish sentiments reflect current open interest....
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    Althucher guesses: trend funds to disappear within the next 10 years...

    Althucher publishes self help books and posts on Facebook regularly about how to become a successful person.
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    The Journey of Making a Living as a Professional Trader

    an example is watching past star traders and managers go more public via media and cnbc, ie icahn, einhorn. they're both down for the year.. they have trailed the indexes since they became media "celebrities" few years ago.
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    Reaction to Michael Lewis's book and "60 Minutes" interview

    Next time there's something wrong with the world, write about it. Create awareness.
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    Bitcoin

    the IRS has accepted bitcoin as an asset class subject to capital gains. any market is just a function of supply/demand and liquidity. Bitcoin is "rigged" or rather programmed to always limit liquidity and supply as a function of rising demand. It is similar to say, the S&P500 corporations...
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    Bitcoin

    If you understand how markets work, it is really just a function of liquidity, supply and demand. Bitcoin is a very simple concept really. It's an asset that's programmed so that liquidity will ALWAYS fall as a function of rising demand. Supply is defined, and becomes more difficult to...
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    Best day as prop trader

    IMHO, trading when management "shares" risk with you is altogether different than money up scenario where one is trading very high prop leverage and subject to constant margin call watch especially in a high VIX environment. It has psychological ramifications. I've found this to be a...
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    Best day as prop trader

    yes. i left a large backed prop group to trade my money up for a few years. looking back though, that was a mistake.
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    Best day as prop trader

    $2million in one day. That day, I came in flat. I bought $12m portfolio value across a basket of Reits and Broker Dealers first 10 minutes of the trading day when the US govt outlawed short selling financials in 2008. They gapped up 2%. By 9:40, I was long $8m and added another $4m when...
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    Why Is The Obvious Not So Obvious?

    common sense disappears in a complex world due to exponentially growing choices. and objective thinking is increasingly politically incorrect.
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    is there a way to calculate the probability of a market top?

    yes. when your friends and families talk about stocks.
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    Reaction to Michael Lewis's book and "60 Minutes" interview

    Read this about now defunct Pipeline Trading. http://www.bloomberg.com/news/2011-10-24/pipeline-agrees-to-pay-1-million-over-sec-dark-pool-claims.html
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    HFT Myths

    HFTs will bury you if you're high volume scalper. your gross avg profit per share is taken by HFT. Media says few cents shouldn't matter, it does to a daytrader when netting out to volume traded (100,000 shares x 2 cents = $2000). The reality is you are basically adding 1-2 cents cost to all...
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    HFT Myths

    Yes. HFT's are just daytraders in form of algorithms. Ethics is relative in this thing called capital markets. Rules will change, but intraday liquidity (HFT's, MM's, daytraders) will never go away, obviously.
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    Bitcoin as the world's reserve currency?

    i think the overwhelming benefits of digital currency within the backdrop of overhwhelming cynicism by the masses makes bitcoin one of the best investments of our lifetime.
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    HFT Myths

    my point is that hft's, etc don't consider themselves "waiters" and never will. they don't think they are obligated to serve a market at all times ie catch falling knives since we all know that their primary goal is to make money, and making markets/adding liquidiy is secondary. we will...
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    HFT Myths

    HFT's are just robot versions of the old specialist/human market makers. specialists on the NYSE were high frequency too, they were the market makers who bid/offered or matched thousands to millions of trades a day. in turn, they get to essentially "count cards" and know the market's real time...
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    HFT Myths

    i would imagine most hft's just observe their p&l's when their daily p&l's start losing consistently. ie from just a few loss days within 100 days to big losses every day within a week. i remember citadel and rennaisance went thru that in 2008. i am sure the smart co's who do a good job risk...
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