Book: The Misbehavior of Markets
- Thread starter jerryz
- Start date
FredBloggs
Guest
hehehe - nice one odd trader, but i am sure a bright dude like you - especially after reading all those intellectual white papers on quantum theory etc knows that these 'investor herdings', intentions, why, where and how etc can be found by experience of looking at a chart and observing and understanding price action.
if price breaks support, stops get triggered and a huge sudden quick trend develops and the market pukes 50 ticks, i dont need to label it 'behavioural finance', just like if it quickly recovers, i dont need to label it reversion to fundamental mean (what ever that really means). no. what i need to do is train myself to get on board and get out again with a bunch of WONGA!!! not impress folks by writing daft books with long names that no one understands but me.
lastly,
'Most narrowly, models have been developed to track the sum of client orders and transactions. ...' well, they used to call that front running
same shit, different butt!!!
sorry - guess an old street fighter like me is never going to agree with a quant.
kiss.
I think the book has merit. But not in the sense that he reurgitates a profitable trading system which to his (their) merit he cautions the reader from the outset. But if you read and think about what he describes there are some points which if developed can be used to profit from the markets.
As long as it's a quack like you telling me, it's ok.
Have never been impressed by your obsessive 'poseur' exhibitionist kid manners. If you would ever try a trade, you will most certainly lose.
nononsense
BTW, I raised a serious question. What's your answer? (Four Opterons running crazy on trying correlation stuff?)
FredBloggs
Guest
Quote from OddTrader:
Sometimes both would make good money at the same time.
Cheers
yep - and you seem to be more objective than this old street fighter - so respect where its due!!
good trading
In my mind, I've been thinking for some time the part of TA targeting the above SAMMPAP issue would be much more interesting and valuable than the conventional TA counterpart in order to make profits consistently, imo.
A book teaching such as
- "How to read and produce manipulated TA charts"
- "ABC of manipulated TA charts"
- "There are no manipulated TA charts"
- "Manipulated TA charts for dummies"
- "Manipulated TA charts for profits"
- "How I hate manipulated TA charts"
- "How I love manipulated TA charts" or
- "How to transform manipulated TA charts to readable/ tradable ones"
would be a very saleable one, probably. My 2 cents again.
Quote from OddTrader:
In my mind, I've been thinking for some time the part of TA targeting the above SAMMPAP issue would be much more interesting and valuable than the conventional TA counterpart in order to make profits consistently, imo.
A book teaching such as
- "How to read and produce manipulated TA charts"
- "ABC of manipulated TA charts"
- "There are no manipulated TA charts"
- "Manipulated TA charts for dummies"
- "Manipulated TA charts for profits"
- "How I hate manipulated TA charts"
- "How I love manipulated TA charts" or
- "How to transform manipulated TA charts to readable/ tradable ones"
would be a very saleable one, probably. My 2 cents again.
Series Editor of the above books: HarryTrader
http://www.elitetrader.com/vb/showthread.php?s=&threadid=37803&perpage=6&pagenumber=1
Sub-Editor: Hypostomus
Q
Managed Markets
Brian Bloom
http://www.gold-eagle.com/editorials_04/bloom073004.html
There are many people who do not fully understand the underlying rationale of technical analysis. TA is not about lines crossing over other lines and drawing trendlines and looking at "mechanical" means of trading the markets - such as using complex mathematical algorithms on supercomputers. That view is held by the "get rich quick" crowd who have convinced themselves that trading on the markets can be automated; or by the inexperienced who don't know any better.
From this analyst's perspective, Technical Analysis reduces to "pictures" the interplay between "optimists and pessimists" in any market. Forming views on this interplay is an "art" as opposed to a science, and requires some understanding of the dynamics of social behaviour.
UQ
Managed or Manipulated?
Q
I want to differentiate here between the meaning of the word "Manage" and that of the words "Conspiracy" and "Manipulate". Conspiracy and Manipulate are emotive words which imply joint clandestine action or antisocial behaviour, whereas Manage implies joint overt, and legitimate action. There is no secret that the world's Central Bankers are involved in "Managing" markets. After all, it is the mandate of every country's Central Bank to protect the integrity of its own country's economy. Why would anyone be surprised if the Central Bankers were to join forces in an attempt to protect the World Economy? To the contrary, one should be surprised if they did not.
UQ
Managed Markets
Brian Bloom
http://www.gold-eagle.com/editorials_04/bloom073004.html
There are many people who do not fully understand the underlying rationale of technical analysis. TA is not about lines crossing over other lines and drawing trendlines and looking at "mechanical" means of trading the markets - such as using complex mathematical algorithms on supercomputers. That view is held by the "get rich quick" crowd who have convinced themselves that trading on the markets can be automated; or by the inexperienced who don't know any better.
From this analyst's perspective, Technical Analysis reduces to "pictures" the interplay between "optimists and pessimists" in any market. Forming views on this interplay is an "art" as opposed to a science, and requires some understanding of the dynamics of social behaviour.
UQ
Managed or Manipulated?
Q
I want to differentiate here between the meaning of the word "Manage" and that of the words "Conspiracy" and "Manipulate". Conspiracy and Manipulate are emotive words which imply joint clandestine action or antisocial behaviour, whereas Manage implies joint overt, and legitimate action. There is no secret that the world's Central Bankers are involved in "Managing" markets. After all, it is the mandate of every country's Central Bank to protect the integrity of its own country's economy. Why would anyone be surprised if the Central Bankers were to join forces in an attempt to protect the World Economy? To the contrary, one should be surprised if they did not.
UQ