How do I compete "They"?

N

NoMoreOptions

This is about Trading!
They see the order flows. I see nothing but think I do while guessing on TS/L2/charts.

They shift their order like crazy without cost. I was forbidden or penalized to cancel my orders.

They unify their sources and actions. I am alone and even blinded by their media partners.

They arbitrage with no time and little cost. I have to wait or have high splipperage.

They sit there got their order filled. My orders never get executed unless the market is moving against me.

Conclusion: You will not be able to complete "they". Do not even try to join "they" as you won't be able to. Otherwise only your dirty broker will be happy.
 
Stick with the index futures, liquid ETFs (QQQ, SPY, SMH), and high-caps (average daily volume greater than 10 million shares). Focus on market direction and turns, and you can do it. Buy down gaps in uptrends and short up gaps in downtrends. Take breakouts after narrow-range days and fade support/resistance after wide-range days. Keep it simple.
 
Ladies and Gents,

My client, NoMoreOptions, is taking a moment to advertise his second book that my company is publishing. The book, entitled, "They: Part II -- The evil specialist and his order book," is an engaging and often emotional journey of a young trader as he gets nailed against the wall by ARCA, NYSE, Island and others.

Here is an excerpt from chapter II:

I knew it was they that did it. I had put in order to sell short 100 but type in 1000 by mistake. My evil broker, IB, sent the order anyway and when I hear DING I knew it was all over. Suddenly the stock halted and the CEO announce big new contract. When stock start to trade again, I lose BIG. I call evil broker but am on hold -- because they knew it was me calling. They LIED. They wanted my money and took it. They don't care about my life. They only care about money.
More...

This gripping tale of a trader as he runs down the path to blowing out is a story straight from his heart to yours.

Available in bookstores in Spring of 2004. Reserve your copy today!

Aphex Publishing, LLC.
 
Quote from aphexcoil:

Ladies and Gents,

My client, NoMoreOptions, is taking a moment to advertise his second book that my company is publishing. The book, entitled, "They: Part II -- The evil specialist and his order book," is an engaging and often emotional journey of a young trader as he gets nailed against the wall by ARCA, NYSE, Island and others.

Here is an excerpt from chapter II:

This gripping tale of a trader as he runs down the path to blowing out is a story from the heart.

Available in bookstores in Spring of 2004. Reserve your copy today!

Aphex Publishing, LLC.
More...
That was a good one, Aphie. lol
 
There are plenty of traders who succeed despite the presence of "they". And there are plenty who do not succeed. The types of things you speak of happen to everyone in this business. In fact, all business is wrought with unforeseeable (sp), perhaps unfair disadvantages occasionally. But that is exactly why the payoff in this biz is so great, because the risk is great.

There are plenty of opportunities with far less risk.. ie., become an employee and punch a time clock. But the reward will be commensurate to the risk.

It is always your choice... and not an illusion.
 
There are two types of "They."

The locals--the floor traders and electronic pit traders-- and the Smart Money. You will never be able to compete with the Smart Money so you have to start thinking like a local.
 
Quote from NoMoreOptions:

This is about Trading!
They see the order flows. I see nothing but think I do while guessing on TS/L2/charts.

They shift their order like crazy without cost. I was forbidden or penalized to cancel my orders.

They unify their sources and actions. I am alone and even blinded by their media partners.

They arbitrage with no time and little cost. I have to wait or have high splipperage.

They sit there got their order filled. My orders never get executed unless the market is moving against me.

Conclusion: You will not be able to complete "they". Do not even try to join "they" as you won't be able to. Otherwise only your dirty broker will be happy.
More...

IMHO:
Trading is a business. Just consider this is part of the overhead. Since the Smart Money may have information that is not available to public, try not to predict. Instead, try to take advantage of the over-reaction of the herd.

Just my two cents.


:eek: :eek: :eek:
:) :) :)
 
Quote from NoMoreOptions:


1. They shift their order like crazy without cost. I was forbidden or penalized to cancel my orders.

2. They unify their sources and actions. I am alone and even blinded by their media partners.

3. They arbitrage with no time and little cost. I have to wait or have high splipperage.

4. sit there got their order filled. My orders never get executed unless the market is moving against me.

Conclusion: You will not be able to complete "they". Do not even try to join "they" as you won't be able to. Otherwise only your dirty broker will be happy.
More...

Let's look at the above points ...

1. LOL ... No one is "forbidden" to cancel an order he/she places. Second, if you're penalized costwise to cancel then find a new direct access provider. There are guys who don't charge to cancel.

2. "unify their sources"? That to me sounds like a paranoid statement as in "they are out to get me". The playing field in trading is a lot more level today than it was years ago. It's not ever going to be completely level IMO.

3. "high slipperage"? Huh? I buy at the bid and sell at the ask 95% of the time. if you're placing market orders then there will be slippage.

4. "orders never get filled unless the market is moving against you". Do you trade with an internet broker where you don't have direct access to the markets? If so, you're handicapping yourself right off the bat. If you want to play the game you have to have the tools to play.

Your conclusion is nonsense; you have a defeatist attitude and with such an attitude you'll not succeed.
 
You must log in or register to reply here.
Back
Top