What a specialist knows about YOU

they are leaving because computers are now the specialist and faster than any human can trade.

NYSE laid off human specialist for some stocks. as for highly liquid stocks, you don't need human specialist. you'll need a broker if you want to unload large orders at the best price with crashing the price.




Quote from jd7419:

Bullshit. I have 2 specialists in my immediate family. Both wealthy from back in the day, both now leaving the business. Where do you come up with this nonsense?
 
the profit margins for traders and specialist on 'return of capital' are pretty small,.. that is the reason they leave

some specialist just break even so be in a non-profit business.

Quote from jd7419:

Bullshit. I have 2 specialists in my immediate family. Both wealthy from back in the day, both now leaving the business. Where do you come up with this nonsense?
 
I agree here. Trading is very hard - not just buy/sell/sellshort. You need to know the technical (and fundamental - although some people ignore it). Knowing when to buy/sell, dealing with my emotion was the hardest thing to conquer. Admitting mistakes and letting go of my ego is VERY hard. First losses teach you a lesson in humility.

And most importantly - persistence and "have the balls of steel" as Scalper007 said.

Excellent, Scalper007.

Quote from Scalper007:

You see, you guys dont understand. It's not about blaming anyone. It's about the truth. The truth is that they have the day trader's vulnerability down to a science. But every trader in here is a profitable one and they have never been sucked into a short squeeze as soon as they entered the trade. Of course it is natural for them all to disagree.

All you naysayers out there, I got a challenge for you. When and if you take a trade in stocks tomorrow, let the trade go against you. Keep on averaging in as it goes against you. Then suddenly start getting out 100 shares at a time. As soon as you start, the price will stop moving against you. And It will not move in your favor until you get out all your shares and hand your money to the pigs. And I guarantee you, your print will be very close to the highest/lowest print. Try this and you will find the specific built in program that is designed to kill the day trader who averages into a losing position. Oh, and if you had the balls to hold it forever, when it comes back in your intended diredtion, watch carefully right where it stops. Yes, right at your average price. And what do you think the human mentality says? Yes, get out even!!

I am not saying you can't make money. But in order to make the big money, you have to have balls of steel and an ocean of patience to persist through all the nonsense that goes on behind the scenes. But of course, you are all profitable traders and we are losers because we are able to discern the truths that you cannot bear.
 
a trader or market makers should always not to trade against the market maker or compete with other market makers in illiquid securities.

'market makers' control the price in illiquid securities.

market makers or brokers who buy and sell to each other on behalf of their institutional clients. they make money on institutional large clients.




Quote from Scalper007:

You think those that do it will tell you so openly? Gimme a break fellas. i aint some newbie. I have seen this shit for the past 10 years. i have seen the market cycles and waded through them. I know the difference between a market cycle vs. constant exploitation of the day trader's psychology.
 
it wasn't a 'mistake' but 'bad trade'.

trading is easy,,makinga large profit or home run on a trade is hard.or impossible.

Quote from luckylee:

I agree here. Trading is very hard - not just buy/sell/sellshort. You need to know the technical (and fundamental - although some people ignore it). Knowing when to buy/sell, dealing with my emotion was the hardest thing to conquer. Admitting mistakes and letting go of my ego is VERY hard. First losses teach you a lesson in humility.

And most importantly - persistence and "have the balls of steel" as Scalper007 said.

Excellent, Scalper007.
 
trading is easy,,making large profit or home run on a LARGE trade is hard.or impossible in intra-day or even swing trading .



Quote from kickboxers:

it wasn't a 'mistake' but 'bad trade'.

trading is easy,,makinga large profit or home run on a trade is hard.or impossible.
 
Quote from Kevmeister:

The specialist knows exactly who you are -- exactly how many shares you trade and can "without any doubt" have you buy at the top and short at the bottom. He is able to do this with every share traded and knows every trader's personal pain point.

They will screw you everytime and make sure your trade fails. If you have a succesful trade it is because he wants it that way and is leading you on.

You do not have any control over your trades at all. The specialist controls each and every share traded. If you are unable to trade successfully it is precisely the specialist's fault. He will allow you to be successful.

Do not blame yourself if you fail to trade successfully. Again, a bad trade is always the specialist's fault because he controls your destiny.

I hope this helps explain why it is never one's fault in the game of daytrading. If anyone needs help in determining who is at fault when one's trade is not profitable I am willing to help.

But PLEASE, don't ever blame yourself.

Kev
Funny, but definitely leads a person to the wrong conclusions!! A specialist is supposed to make (repeat after me) "a fair & orderly market", and that does not happen.
Point 2: at least Scalper, kickboxer, myself, & a couple others on this thread have a good explanation why 90% of daytraders lose their money. What is yours???

About blaming others: I give credit where credit is due, and give blame when blame is due, however, this thread was not designed to blame people, rather to understand better the "rules of the game".
 
Quote from Option Trader:

About blaming others: I give credit where credit is due, and give blame when blame is due, however, this thread was not designed to blame people, rather to understand better the "rules of the game".

lol you don't even know what game you are playing so quit trying to explain the rules to it!
 
Quote from robbie380:

lol you don't even know what game you are playing so quit trying to explain the rules to it!
With each posting, you are becoming more & more concerned. It's all right; just close your eyes, & breathe slowly & deaply.
 
Quote from Option Trader:

With each posting, you are becoming more & more concerned. It's all right; just close your eyes, & breathe slowly & deaply.

concerned about what? how you don't know anything? fuck me.

stick to options and your 100 share lots on the nyse.
 
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