Thx - Very interesting content!
Today's Great Thinkers
- Thread starter Ghappy21
- Start date
SPX, I do not understand the reason for your insulting tone. If we were face-to-face would you speak in such a rude fashion? I assume not. I did not ask for any system or service, just new thought leadership.
Life is good after I stopped looking a long time ago thankfully.
Too bad my younger self didn't know it back then.
SPX has been banned. He can't see responses here, because he is no longer SPX. He is just dust in the wind. There's music for that, and videos galore. But the site needs a break from me, so I will refrain.
I'm not sure anything has changed. It's still an open auction market. Human nature hasn't changed.
Todays superstars, whoever they are, will come and go but if you look at what they are doing there is nothing new. They have found an edge that they are able to exploit, at least temporarily. Todays retail trader has more information at their finger tips, faster execution and pays way less in commission than 50 years ago. But the market still runs on human emotion.
What do you think has changed?
If you asked me to recommend trading books for a beginner I'd give you O'Neil's How to make money in stocks, Darvas, Wyckoff and Weinstein. All classics and all can be applied to todays market.
@deaddog Thx for the reply. I agree that the concepts from the past are valid; auction theory, human nature, etc. I think speed of the market has changed. That may have little impact on investors or very-fast intraday traders but possibly it has lots of impact on swing timeframe traders. Sector composition and rotations possibly have changed a lot. I think the very large increase in options may have some possibly significant impact on markets. Nearly free borrowing may allow vast scale to move in and out of markets quickly. So, I agree that core concepts may be unchanged but possibly application of concepts for success in today's markets may benefit from more current understanding and interpretation. I enjoy Jim Dalton webinars. He cautions against the age of his original work. In that some of the techniques suggested, he believes no longer work. Of course, the core concepts remain true.
What has changed is that more information is available.
Being an old fart I can recount trading when you got your data from a newspaper and phoned your broker. Yup; uphill both ways, in a snow storm, barefoot.
What i see happening today is lots of information readily available, a lot of it attempting to separate you from your money. For a few hundred dollars let me show you how I turned 5k into a million type of hype showing up on banner adds on everyone's devices. Nothing really new, in the 50's they took Darvis to court for writing a book about how he made 2 million.
The reason you don't see anything really new is that the markets haven't changed that much. Fear and greed still rule. The money still flows from those who don't know what they're doing to those who do.
Being an old fart I can recount trading when you got your data from a newspaper and phoned your broker. Yup; uphill both ways, in a snow storm, barefoot.
What i see happening today is lots of information readily available, a lot of it attempting to separate you from your money. For a few hundred dollars let me show you how I turned 5k into a million type of hype showing up on banner adds on everyone's devices. Nothing really new, in the 50's they took Darvis to court for writing a book about how he made 2 million.
The reason you don't see anything really new is that the markets haven't changed that much. Fear and greed still rule. The money still flows from those who don't know what they're doing to those who do.
Only you are your best thinker/trader. Cheers!