i can verify that on my end...both from long vol and short..a key is identifying when its happening and change/close the book fast..not after u get spanked.
New Marty Schwartz Interview
- Thread starter Fundlord
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i can verify that on my end...both from long vol and short..a key is identifying when its happening and change/close the book fast..not after u get spanked.
People here need to watch the video themselves, make notes and think rather than reading someone else's statements.
Man, I gave up that game a long time ago when I realized it was a fool's errand. Results don't lie. Only a madman or addicted gambler would continue to keep doing what doesn't work (in spite of slight modifications). Recall from the book Market Wizards that even the Mark Weinstein chapter mentioned his friends that are good commodity traders lose money when they step in the stock index futures trading arena.
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I have, before asking.
Amazing, right? One could argue perhaps, that his point of view might be outdated. That sounds wrong... (English, second language.) What I mean is, given that the bulk of his vast experience dates back to the pits era, perhaps he's less disposed to adapt enough to "see" some completely different value in today's action.
That said, it's just a thought, because I don't personally know any successful intraday ES trader anyway. (Nor unsuccessful, for that matter.)
Thanks a lot for this. I loved his book, he is definitely a great trader.
What is fun is he doesn't look like he has a deep understanding of the markets:" More than 90 % of options expire worthless" " European options didn't move when the VIX did" "Virtu only had 1 losing days so they must be cheating"... His results must be due to an incredible gut feel...
What is fun is he doesn't look like he has a deep understanding of the markets:" More than 90 % of options expire worthless" " European options didn't move when the VIX did" "Virtu only had 1 losing days so they must be cheating"... His results must be due to an incredible gut feel...
Yes I felt the same way about it. Lots of funny comments that seemed well...... unsophisticated. Such as talk of oscillator divergences, comparing charting to shaking a kaleidoscope until you get a picture you like, and of course when someone asks what he does for a living his response is "well... I draw a lot of lines". LOL!!
Some good advice too of course..... he obviously knows how the game works....
Some good advice too of course..... he obviously knows how the game works....
"His results must be due to an incredible gut feel..."
In my experience concepts that can be quantified in a sophisticated fashion can very often be identified "by eye" to someone with a great amount of experience who constantly follows the market looking for opportunities - which is what I believe that he does. In other words he knows how to find the juice to squeeze - if one can do that the "sophistication" is not very helpful unless one is working at a very large scale. He also has the stomach and discipline which is what most of the great analysts and strategists lack.
In my experience concepts that can be quantified in a sophisticated fashion can very often be identified "by eye" to someone with a great amount of experience who constantly follows the market looking for opportunities - which is what I believe that he does. In other words he knows how to find the juice to squeeze - if one can do that the "sophistication" is not very helpful unless one is working at a very large scale. He also has the stomach and discipline which is what most of the great analysts and strategists lack.
Man you guys missed all the secret sauce lets be clear Marty did not really tell you how he trades...his trade set . i.e. dte delta trade size vs acct size adjustments he said just enuff for you to be a hazard to YOURSELF..but i can definitely tell
you his firewall IS NOT CREDIT SPREADS!!!!! ..... remember he said he wants to "KILL" all of you! lol anyway he trading what Ive been trading and making a killing myself....I sugg you listen to the interview 3 more times
....its not enough to have you go place a trade per se but for those who can read the tea leaves it can certainly point you in the right direction....the interview was just more confirmation of my own strategies that I have been trading successfully with for over a year now after 7 years of hell learning how to trade options it took 7 years to lose 200k! (my tuition) I've made 330k in the last 12 mos....going for a mil the next 12 mos
you his firewall IS NOT CREDIT SPREADS!!!!! ..... remember he said he wants to "KILL" all of you! lol anyway he trading what Ive been trading and making a killing myself....I sugg you listen to the interview 3 more times
....its not enough to have you go place a trade per se but for those who can read the tea leaves it can certainly point you in the right direction....the interview was just more confirmation of my own strategies that I have been trading successfully with for over a year now after 7 years of hell learning how to trade options it took 7 years to lose 200k! (my tuition) I've made 330k in the last 12 mos....going for a mil the next 12 mos