It will become a very neat day when Askan takes the next step in learning.
Your staff should consider it too.
Your intern saw it right off.
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Millionaire Traders - Market Maker or Market Taker?
- Thread starter jbt
- Start date
It will become a very neat day when Askan takes the next step in learning.
Your staff should consider it too.
Your intern saw it right off.
Quote from GregShap01:
I'm excited to read this book, but I have to say it's gonna be tough to compete with Tim Sykes' book, which I just completed and loved. Check it out:
http://www.timothysykes.com
Hell, I love all these millionaire's stories!!!
I read most of Tim's book....Most of it, and while there were a ideas and nuggets of valuable information, loving it would be a complete overstatement. It's a story newbies might find interesting, but to me, it was more of a reminder how easy it was to make money back in the roaring market of the nineties.
Envision an intern, a staffer and a quote.
The intern has made it through the hoops and the staffer want some results from the intern.
He turns to a quote in a book.
entering continuation makes money he says by quoting.
The intern knows this; she wants to do all of continuation.
The staffer continues his quote to talk about exits.
The intern understands the quote and she obviously does what was reported. Kept quiet.
The staffer goes his way thinking he has made the correct point.
The book with the quote in it is put away for another day.
What about these three individuals?
Joe Ross would say that there is tranding (continuation) and consolidation; he has %'s for them.
Wizards don't do Joe Ross and they do more than Askan.
the intern should tell the staffer she wants to know about entries. The staffer can look them up in Askan and tell her.
But we all know that Askan would have not siad what he did if he knew about entries and in respect to what he said.
What is an exit for High Velocity traders who make unbelievable and astonishing amounts of money???
Lets make the intern a high velocity trader right now. She can then scare the shit out of the staffer and Ashkan.
Every exit that the market gives is an entry in the opposite direction. Go girl.
Fortunately, the book tells about exits relative to continuation.
how long does it take to check for an exit? We all know it could be a short period and the tests could be done over and over.
How far does the market have to move between two exits to make money?
So the intern is reversing on all exits and she buys the corporation and fires the staffer and throws the Ashkan in the ashcan.
Ho hum
The intern has made it through the hoops and the staffer want some results from the intern.
He turns to a quote in a book.
entering continuation makes money he says by quoting.
The intern knows this; she wants to do all of continuation.
The staffer continues his quote to talk about exits.
The intern understands the quote and she obviously does what was reported. Kept quiet.
The staffer goes his way thinking he has made the correct point.
The book with the quote in it is put away for another day.
What about these three individuals?
Joe Ross would say that there is tranding (continuation) and consolidation; he has %'s for them.
Wizards don't do Joe Ross and they do more than Askan.
the intern should tell the staffer she wants to know about entries. The staffer can look them up in Askan and tell her.
But we all know that Askan would have not siad what he did if he knew about entries and in respect to what he said.
What is an exit for High Velocity traders who make unbelievable and astonishing amounts of money???
Lets make the intern a high velocity trader right now. She can then scare the shit out of the staffer and Ashkan.
Every exit that the market gives is an entry in the opposite direction. Go girl.
Fortunately, the book tells about exits relative to continuation.
how long does it take to check for an exit? We all know it could be a short period and the tests could be done over and over.
How far does the market have to move between two exits to make money?
So the intern is reversing on all exits and she buys the corporation and fires the staffer and throws the Ashkan in the ashcan.
Ho hum
Quote from jack hershey:
Envision an intern, a staffer and a quote.
The intern has made it through the hoops and the staffer want some results from the intern.
He turns to a quote in a book.
entering continuation makes money he says by quoting.
The intern knows this; she wants to do all of continuation.
The staffer continues his quote to talk about exits.
The intern understands the quote and she obviously does what was reported. Kept quiet.
The staffer goes his way thinking he has made the correct point.
The book with the quote in it is put away for another day.
What about these three individuals?
Joe Ross would say that there is tranding (continuation) and consolidation; he has %'s for them.
Wizards don't do Joe Ross and they do more than Askan.
the intern should tell the staffer she wants to know about entries. The staffer can look them up in Askan and tell her.
But we all know that Askan would have not siad what he did if he knew about entries and in respect to what he said.
What is an exit for High Velocity traders who make unbelievable and astonishing amounts of money???
Lets make the intern a high velocity trader right now. She can then scare the shit out of the staffer and Ashkan.
Every exit that the market gives is an entry in the opposite direction. Go girl.
Fortunately, the book tells about exits relative to continuation.
how long does it take to check for an exit? We all know it could be a short period and the tests could be done over and over.
How far does the market have to move between two exits to make money?
So the intern is reversing on all exits and she buys the corporation and fires the staffer and throws the Ashkan in the ashcan.
Ho hum
Jack thank you for your wisdom but please use it on another thread. I already asked you to get off here. It's like listening to rantings of a raving lunatic that sits on a Broadway bench in front of my building.
For the record the intern shorted the pound at 2.0012 and soon thereafter it was trading 1.9925.
Again, this is a REAL world trading thread, not some useless magical mumbo jumbo that you sputter. So as Jack Nicholson once "Sell crazy somewhere else. lady"
God you are an annoying bore.
Anyone who has real trading questions or issues they wish to discuss, feel free to chime in.
Quote from jbt:
Jack thank you for your wisdom but please use it on another thread. I already asked you to get off here. It's like listening to rantings of a raving lunatic that sits on a Broadway bench in front of my building.
For the record the intern shorted the pound at 2.0012 and soon thereafter it was trading 1.9925.
Again, this is a REAL world trading thread, not some useless magical mumbo jumbo that you sputter. So as Jack Nicholson once "Sell crazy somewhere else. lady"
God you are an annoying bore.
Anyone who has real trading questions or issues they wish to discuss, feel free to chime in.
Thanks for your response. I'm happy for the intern; hopes she links the trades she is doing.
My post was a calm and logically developed one and may be beneficial for a range of traders.
I can appreciate your real world and how you are basically surrounded by those of like mind.
Go over to your computers and look at the sequence of indications that a continuation of price movement is coming to an end by looking at the premium, the price and volume (if you have one constructed) and the DOM and tick charts. Also glance at the leading indications of the traded price.
Ask yourself do you have a set of indications that are a reliable set? Does that set have differences that appear? Do these sets of differences sequence according to a regular pattern?
The answers are standard, we all know that. Humans sweep these frequently; ATS does it many many times faster than humans. IT, today, makes ATS manditory. At some point the exit and entry become one and it is known as a reversal.
Many people have discovered the degrees of freedom for trading any market. These sets of indications vary as the market informs the trade, either visually or automatically. If is so very fortunate that the market's data is so easy, in modern times, to process.
People need to use the power that is available to be on hand. It is not a traded turn anymore that matters; it is being empowered with technology that matters.
My comments do enliven any thread. There are many reactions to them. I do consider your responses and intiatives like any one else does. Thinking up not having me here is an interesting one.
You post was not calm and logical. You do not enliven anything.Quote from jack hershey:
My post was a calm and logically developed one and may be beneficial for a range of traders.
My comments do enliven any thread. There are many reactions to them.
Nobody on this thread wants to read your babble.
Please respect JBT's request and STAY OFF!!!
Thanks.
Quote from jbt:
"You cannot engineer a profit. Although everyone starts out trying." And the man is an engineer by training.
You can try to optimize trading in the same way you can optimize weather - which is no way at all, since both regimes are constantly changing states of being as they respond to new stimuli Witness the double digit losses of the quant funds on outcomes that were "not supposed to happen". One of those funds (GS) btw is located right upstairs from my office on Wall Street
Hi JBT,
Thanks for starting a very good thread, lots of great information so far.
Being a former electrical engineer, I agree, for the most part, with Chuck's quote. However, my analytical nature has produced several systemic edges via "engineering" a time series of data. By this I mean using statistical learning algorithms to identify market inefficiencies. In general, building these types of models requires a certain amount of the scientific approach (as well as good mathematical background).
Maybe we could separate Chuck's statement a bit - a compromise so to speak. My belief is that without a solid mathematical/engineering approach to finding a statistically significant setup/edge one lacks the basic foundation for a robust trading method. The actual execution portion, i.e. profiting from that edge is where the art comes into play. I believe this to be the case for both discretionary and systemic edges - the execution is the art and the edge is the science.
I also believe that the "optimization" concern is always brought up in too broad a manner. For example, one can optimize an exit strategy based on inherent trader specific faults, such as the position sizing example you mentioned earlier (i.e. scaling out of an initial 20 contract position).
Just some topics for discussion.
Regards,
Mike
jbt -
I went to Amazon to buy your book, but it says shipping in 3-6 weeks. Why so long?
I went to Amazon to buy your book, but it says shipping in 3-6 weeks. Why so long?
Quote from jack hershey:
Thanks for your response. I'm happy for the intern; hopes she links the trades she is doing.
Go over to your computers and look at the sequence of indications that a continuation of price movement is coming to an end by looking at the premium, the price and volume (if you have one constructed) and the DOM and tick charts. Also glance at the leading indications of the traded price.
Ask yourself do you have a set of indications that are a reliable set? Does that set have differences that appear? Do these sets of differences sequence according to a regular pattern?
one of the signs of genius is being able to take the complex and make it simple. wonder what taking the simple and making it complex indicates??
surf