Old edges

Quote from kut2k2:

If the turtle strategy is so great, why isn't everybody using it and getting rich? It's fully disclosed and free, what's stopping this great strategy from being exploited everywhere? Are you using it as your strategy?
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And yes i also think that when a strategy works easy (what will never be) and everybody can learn it because it is written in books, then this MUST stop working, otherwise there would be no market anymore.
 
Quote from kut2k2:

If the turtle strategy is so great, why isn't everybody using it and getting rich?
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I'd say the lack of patience, discipline and capital are probably near the top of the list.
 
Quote from HATEtheRisk:

dont you think ? whats your opinion ?
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I think it is never optimal to show such size in a thin market, he should have at least used icebergs, alternating passive buy orders and removing asks...

Moreover, there must be some way to fill bigger size in FCOJ directly, through a pit local or a block trade IMO.
 
Quote from TraDaToR:

I think it is never optimal to show such size in a thin market, he should have at least used icebergs, alternating passive buy orders and removing asks...

Moreover, there must be some way to fill bigger size in FCOJ directly, through a pit local or a block trade IMO.
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yes, iceberg orders and block trade system would be probably the best. i use iceberg orders too for stocktrading, although i dont need them really, cuz i dont trade so big in stocks, but i train for later. :D
 
Quote from jprad:

I'd say the lack of patience, discipline and capital are probably near the top of the list.
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Agreed. When facing drawdowns, giving back that much money is tough.

I tried it and couldn't do it so in the end I used a hybrid of O'Neil's exit - after a gain of + 25%, I would trail a stop at 1.5 times ATR. I figured if the trend resumed after I got stopped out, I could always look for another entry.
 
Quote from cyoungmark:


What are some old, unprofitable, or unusable edges that the market has made ineffective? It would be great if you could share stories.
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Hmm where do I start?

1) SOES Bandits of the 1990s
2) The late 1990s edge of buy to win
3) Bullets & Conversions
4) Rebate trading
5) NYSE Open Book
6) Tape reading the specialist
6) ECN and regional exchange arbitrage
7) NYFIX/Millennium

I doubt there are even enough edges available today to the average trader that would equate to the risk/reward of one of those.
 
Quote from kut2k2:

If the turtle strategy is so great, why isn't everybody using it and getting rich? It's fully disclosed and free, what's stopping this great strategy from being exploited everywhere? Are you using it as your strategy?
More...

It worked in the FX market in the last ten years because I backtested it. It also worked very well on gold and silver. The key is identifying the right kind of markets to use it on.

I'm of the opinion that you could post any winning trading strategy and most people wouldn't make money with it because they have neither the patience to allow it to work and the discipline to see the plan through to the end.
 
Quote from Hydroblunt:

Hmm where do I start?


6) Tape reading the specialist


I doubt there are even enough edges available today to the average trader that would equate to the risk/reward of one of those.
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Was that also called ''shadowing the axe''? (tape-reading the specialist)

I used to know someone who made so much money every single day, and he told me all he did was ''shadow the ax''...''find out who the main instituational player was using the level2 screen and follow him''. No charts. just Level2

Was it a really easy thing to do?
Are you saying that he can no longer employ that method? (i've not spoke with him for years)

Must be so nice to have a true 'edge' (like the example above) rather than punting from charts!
 
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