You got the points, not only traders, but also the brokers, program vendor, educators, mm trading site owners, signal vendors and etc also require new blood and suckers to pay for their salary.
hmm.no edges in the markets
- Thread starter chimera
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You got the points, not only traders, but also the brokers, program vendor, educators, mm trading site owners, signal vendors and etc also require new blood and suckers to pay for their salary.
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Jack what is the best quote I can attribute to you for my new project? Your craziest stuff?
Quote from nitro:
One day, I am going to write a book and get it off my chest. it will be the only book in the history of books on markets of its kind. I will write it under a pseudonum. Wait, if I use my real name, no one will know it's me
As a prolific reader, you should know that truth-telling books that tell the reader they're idiots tend not to sell very well...
Instead, it'd just be a chest beating/soapbox stumping/purging exercise for you... Possibly an expensive one if your time is worth more doing something else...
Thank you for the great post.I agree that the behavior of a bunch of little retail traders has little effect on running price, except in very low volume periods such as NY lunch hour.
However, a bullish hedge fund manager isn't going to slap on major size all at once and even if s/he was inebriated and decided to do so, it would likely be at a price zone that indicated value. I've heard interviews with farmers who have to use futures to lock in their prices and they say they use price charts to do this!
Reading price action is choosing to trade at levels where many "large eyes" are seeing potential value. If price sets up a pattern that tends to result in a directional move more often than not, you jump on the wagon and hope the ride isn't too bumpy
This will be helpful for me to grow.
Thank you very much.
Wow nice to see the great conversation. Thank for all who made it and useful to all.
Thank you verymuch.
Thank you verymuch.
Finding an edge is only something the very few will do. Everything else you can easily pick up from books or self study, money management, risk management, trading discipline, etc. An edge is the magic powder you sprinkle on top of it to make IT happen. 
Jeremy said it well in Margin Call, "the percentages, they stay exactly the same".
Jeremy said it well in Margin Call, "the percentages, they stay exactly the same".
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