Quote from jimrockford:
The Bright family, based on the links Don posted, apparently sees the NYSE game as just their strategy for now, because of the opportunities it yields now. It seems that when the NYSE frat party is finally broken up once and for all, either because they are raided by the cops, or the beer kegs all run dry, the Brights are prepared to move on to the next opportunity, just as they have moved from one opportunity to the next, decade after decade.
I think this approach will continue to work, for the Bright family. I don't think it is workable for the vast majority of newer traders. The vast majority of traders will never enjoy the flexibility, adaptability, sophistication, and resources possessed by the Brights.
Quote from Don Bright:
In all markets, we feel that there are only 2 ways a discretionary trader makes money. 1. Prviding liquidity (as on opens, closes, and enveloping during the day). and 2. Seeking and exploiting disparities (M&A, Pairs, cross market hedges, sector trading, etc.).
Don
Quote from jimrockford:
Don,
If I understand you, you believe that a discretionary trader cannot make money on selective trend following strategies. Do you really mean to exclude this possibility, and if so, would you care to share your rationale for such an opinion?
Quote from Hamlet:
I can say without hesitation that your assumptions are absurd and completely illogical.
It seems like you typed before you actually thought when writing this.
Quote from Hamlet:
I am that sure Don is aware that traders make money with trend following and reversals. If I understand you, Rockford, are you saying that these cannot be done trading on the NYSE?
Quote from jimrockford:
I believe that this type of insulting post says nothing about the topic and drives people away from the thread. I have complained to the moderator. Suggest participants should attack each other's arguments instead of insulting each other.
Quote from Hamlet:
Then you agree that traders should learn how to trade on the NYSE.
Quote from jimrockford:
No, I didn't say that and I don't believe it either. I believe that traders do make money on NYSE using both trend following and trend reversing strategies.