Millionaire Traders - Market Maker or Market Taker?
- Thread starter jbt
- Start date
I find it odd that a few have shown up to blast the thread starter instead of using the complaint button...
Just as rude that others respond by slinging their own personal attacks towards the problematic posters.
Regardless, Baron should have placed the special guest notation under jbt's name to prevent sending the wrong message to others with that want to discuss their books without his permission.
An analogy is that there's been a few times some become sponsors of ET but they don't get the sponsor id placed under their names...
Next they start a few threads and the threads deterioate into the typical get lost spammer type responses and more name calling by those supporting the sponsor.
Then a day or two later, the sponsor id shows up below the thread starter name.
At least ET management should be the first to introduce the special guest or sponsor (they write the first post in the thread person will start) to prevent any type of misunderstandings and the typical name calling.
There has been a few occassions in the past where someone saids they have permission to post info about their service, book or whatever when in fact they did not.
By the way, why wasn't this thread started in the Announcement section where sponsors et cetera introduce their services for the first time or talk a new event???
Mark
Just as rude that others respond by slinging their own personal attacks towards the problematic posters.
Regardless, Baron should have placed the special guest notation under jbt's name to prevent sending the wrong message to others with that want to discuss their books without his permission.
An analogy is that there's been a few times some become sponsors of ET but they don't get the sponsor id placed under their names...
Next they start a few threads and the threads deterioate into the typical get lost spammer type responses and more name calling by those supporting the sponsor.
Then a day or two later, the sponsor id shows up below the thread starter name.
At least ET management should be the first to introduce the special guest or sponsor (they write the first post in the thread person will start) to prevent any type of misunderstandings and the typical name calling.
There has been a few occassions in the past where someone saids they have permission to post info about their service, book or whatever when in fact they did not.
By the way, why wasn't this thread started in the Announcement section where sponsors et cetera introduce their services for the first time or talk a new event???
Mark
I'll apologize to you, Mark, for putting crap on the board that I sent to Island. However, you know, as well as I do I think, that to a lot of these people it does not matter. You can be a well known sponsor, and they still keep accusing you of spamming and asking Baron to take the post down. How do they expect the servers to stay on without sponsors? Are they going to pay to post here? Highly unlikely. I take back the apology, if Island is blackgaurd. the guy is a peckerhead. And why not post as blackgaurd anymore? Everyone find out your a peckerhead?
Brandon
Absolutely correct.
sponsors ---- who pay so that the members can post for free ---- should have the ability to excise detrimental material from their threads. Most of the bashers don't even bother to look at the material first.
Bashers are always welcome to start --- another thread ---- explaining in detail --- why they disagree with the material posted instead of posting monkey gibberish that has no value to other members.
Hi Brandon,
That's true and I've been here long enough to see ET members with the sponsor ID below their name and still get blasted by other ET members as a spammer when the sponsor has paid Baron for the priviledge to talk about his/her service.
In fact, I recently saw a ET member (non sponsor) start a thread in the feedback section complaining why he can't talk about his service when sponsors are allowed to talk about their services.
As for blackguard and others here at ET that complain about others that promote their services, we all need to take their commentary with a grain of salt considering he (blackguard) has solicited business here at ET in the past without Baron's permission along with being warned about such by a few moderators.
At least he hasn't started a thread in the feedback section (as someone recently has) to ask that spammers be banned after knowing he himself has spammed here in the past via trying to solicit his service...
Knock on wood and only time will tell.
Mark
Quote from NihabaAshi:
Hi Brandon,
That's true and I've been here long enough to see ET members with the sponsor ID below their name and still get blasted by other ET members as a spammer when the sponsor has paid Baron for the priviledge to talk about his/her service.
In fact, I recently saw a ET member (non sponsor) start a thread in the feedback section complaining why he can't talk about his service when sponsors are allowed to talk about their services.
As for blackguard and others here at ET that complain about others that promote their services, we all need to take their commentary with a grain of salt considering he (blackguard) has solicited business here at ET in the past without Baron's permission along with being warned about such by a few moderators.
At least he hasn't started a thread in the feedback section (as someone recently has) to ask that spammers be banned after knowing he himself has spammed here in the past via trying to solicit his service...
Knock on wood and only time will tell.
Mark
Gentlemen I am ignoring all the insults and keeping the subject of the thread on track.
Elite has thousands of traders who want to find out how to succeed in the game. We wrote a book that asked that very question of people who HAVE succeeded and while the book by no means provides you with a magic solution to endless profits, it does demonstrate that all of these traders different as they are do share some very key attributes and that's what I plan to discuss here.
So if Market Maker essentially acts as a liquidity conduit, Market Taker plays the role of the classic speculator.
Allow me to explain in more detail. Market making traders are basically agnostic about direction. They simply want good two way volatility, because under those conditions reversion to the mean strategy with multiple average-ins works like a charm and the trader basically prints money by buying dips and selling spikes.
That's one of the reasons I think the short term scalp traders rely almost exclusively on technical analysis - probing overbought and oversold points. They really couldn't care about news because they really don't care about direction.
Market Takers - take the price for the market and generally do not try to profit from short term fluctuations. They are keenly aware of being on the wrong side of the bid/ask spread and understand that multiple transactions would bury them in costs.
They trade in a much more traditional way with Targets and Stop losses clearly spelled out before the trade is put on. They ARE directionally focused and will typically integrate both fundamentals and technicals into their trade selection.
One very common characteristic of all the good traders we interviewed - both MMs and MTs is that they STAY AWAY from the market when environment is not conducive.
This is perhaps the single most overlooked aspect of success in trading - the most important trade is the NO TRADE position.
I'll discuss more on this later on.
Allow me to explain in more detail. Market making traders are basically agnostic about direction. They simply want good two way volatility, because under those conditions reversion to the mean strategy with multiple average-ins works like a charm and the trader basically prints money by buying dips and selling spikes.
That's one of the reasons I think the short term scalp traders rely almost exclusively on technical analysis - probing overbought and oversold points. They really couldn't care about news because they really don't care about direction.
Market Takers - take the price for the market and generally do not try to profit from short term fluctuations. They are keenly aware of being on the wrong side of the bid/ask spread and understand that multiple transactions would bury them in costs.
They trade in a much more traditional way with Targets and Stop losses clearly spelled out before the trade is put on. They ARE directionally focused and will typically integrate both fundamentals and technicals into their trade selection.
One very common characteristic of all the good traders we interviewed - both MMs and MTs is that they STAY AWAY from the market when environment is not conducive.
This is perhaps the single most overlooked aspect of success in trading - the most important trade is the NO TRADE position.
I'll discuss more on this later on.
JBT, so you are saying that STOPs doesn't matter?