manlycure
Registered: Oct 2006
Posts: 101
05-20-09 01:21 PM
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Quote from AMT4SWA:
If you sat with me for a day and watched how I use it realtime (with my trade entry criteria) then it would make more sense to you imo. There are aspects of what I do that I do not mention, so if all seen together it would seem more complete I would think.
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But that wouldn't make the personal journey that much fun, now would it?
I certainly appreciate the (obviously hypothetical) invitation. I subscribe to what you said in the older thread that a good way to learn delta is to sit down with I/RT and watch it play out in real-time in order to gain skills in this area.
My point above was that the simple patterns are quickly analyzed to death by the math PhD quants (who get paid $$$ to sit all day code/test those patterns) and they proceed to unleash big money on it, resulting in self-destruction of those arbitrage patterns.
Maybe the good news is that the human brain still has some edge on a computer program to the extent that the game is complex enough (chess is out...)
Vita Brevis, Ars Longa.
D.
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manlycure...........Reread the ending line in your post and sit
down and rethink why that statement is completly false.
Let me help you out a little. Trading is NOT complex, it is NOT scientific, it is NOT a mystery, it is NOT easy. Actually because the game is so simple is why many get it all wrong. The only advantage the area between a traders ears have over a computer is the human can think on the fly, the more complicated the better for the human. Computers can not handle panics caused by the players themselves and NOT because of the market. The players do not panic because the game is complicated but because they are scrambling to find some liquidity to get the hell out of their losing positions. Without liquidity, the best traders with the largest positions will get hurt the worst.
I find amt's work very good because it in general is about where the support/resist is hiding out and waiting to get a bug up it's ass to make a move and make a move fast.
I will say though i have reservations about some of his risk management procedures. Thats his bailiwick though so more power to him if it works.
( he still sells cowchips on the side though, just in case.
)
PS: This is a RARE and almost unheard of post during mkt hours because i am pre[paring to go to an appointment.
PSS: for us ES traders we do not worry about liquidity, i am a small trader as it is but ES traders in general never sweat getting with a tick or so slippage even throwing in mkt orders during RTH.
