Using @SimpleMeLike "Cheating System" in combination with my Edge. Sure works for everyone that "learns to learn" unlike Mr. Fred...
So this is what we're up against? :)
- Thread starter wxytrader
- Start date
This is a tough market for daytrading.
This assumes markets are strongly efficient.
People are incredibly self-deluded in all domains, not the least in economics. There are all kinds of information advantages hiding in plain site. They aren't even really hiding. People have deluded themselves into this nearly Star Wars like ideology of the market having "the force" . All information is instantly discounted by "the force" .
It is exactly that level of ridiculous.
I think if you step back, a much closer model to reality is one of mobs of self-deluded trading agents making trading decisions basically on nonsense.
This is why I think When Genius Failed is the greatest trading book ever written. Read it with the idea that market participants are fundamentally self-deluded. The same forces of self delusion have only been massively amplified by communication devices and software since that time. A prize from a group in Sweden didn't matter then and it matters even less now, if anything it again amplifies self delusion.
People are incredibly self-deluded in all domains, not the least in economics. There are all kinds of information advantages hiding in plain site. They aren't even really hiding. People have deluded themselves into this nearly Star Wars like ideology of the market having "the force" . All information is instantly discounted by "the force" .
It is exactly that level of ridiculous.
I think if you step back, a much closer model to reality is one of mobs of self-deluded trading agents making trading decisions basically on nonsense.
This is why I think When Genius Failed is the greatest trading book ever written. Read it with the idea that market participants are fundamentally self-deluded. The same forces of self delusion have only been massively amplified by communication devices and software since that time. A prize from a group in Sweden didn't matter then and it matters even less now, if anything it again amplifies self delusion.
Welcome to you too NYC!
Related to your post:
A recent study showed that men are 4000% less effective in an aggressive physical encounter than they give themselves credit for.
Self delusion is real,across many pursuits.
The only real trading opponent is staring at you in the mirror. If you know what are you doing the large parabolic moves that go with eco reports, fed news, earnings, etc. will work in your favor more often than not.
I applaud the algos for creating more volatility, for walking the indexes up/down 50-150 pt moves that play out all the time. The only thing that alarms me is when the volatility dwindles to long. Who cares if the gain a few ms over other algos?
I applaud the algos for creating more volatility, for walking the indexes up/down 50-150 pt moves that play out all the time. The only thing that alarms me is when the volatility dwindles to long. Who cares if the gain a few ms over other algos?
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Fooled By Randomness is a great book the same vein as When Genius Failed. I remember seeing an interview with Myron Scholes from the infamous LTCM debacle on a PBS NOVA special and he was still in denial about what happened and he took no responsibility for its collapse. That guy is exactly the kind of intellectual that Lowenstein & Nassim wrote about in their books. Scholes comes off as a sociopath in that interview.
Haha exactly! I am on day 13 of actually entering every gram of fat, carb and protein into an app and I can't believe how totally delusional I was with what I eat. I have been on a "diet" since 1/1/24 and it was totally self-delusional until 13 days ago. What I thought was eating was stupid. Obviously now, it was obvious. What is obvious, is not, when completely deluded. I am so disconnected from bullshit though that I didn't even know a debate happened last night until about 10am this morning. The average brain can't disconnect like that from this graph. Covid taught me how contagions spread on a graph. The social graph of self-deluded nodes? lol. "Markets are efficient says the science"