If its true, not surprised. My guess is the hft boxes and death of the spec have made what he was doing irrelevant . Speaking of porked, recent Time mag has a good piece on how old style hold em poker players are getting blown out by new age poker geeks. reminds me a lot of how hft and pennies has wrecked many scalpers.
I just read the Time article on poker. It reminds of trading, adapt or die. They mention how one of the old pros is taking lessons from the new guys to learn what is working now. I've changed a few times over the years in my trading methods/style. Sometimes it has been harder than other times.
Bob Bright - still the trading and poker pro at 70. Another trader's opinion of BT's Bob Bright Robert Bright AKA "Bob" World Series of Poker > Robert (Bob) Bright
Not exactly true - he is trading the e's somewhat, but also has about $60 million in pairs via the JVC program that he is personally backing. Regarding HFT etc., yes, we have changed our order entry somewhat (very little trying to park orders for liquidity rebates). We will be covering all this during our "Intensive" weekend in July. Don
Which ones? And if ES, is it because of the size that he swings, or is there another reason? I ask because I dislike ES, in part due to its large tick size in relation to its average daily range as compared to the other indexes.
This seems kind of silly, I mean.. poker is a very finite game. Players have different styles but.. "what is working now" huh?!? Sounds like the old guy was never that good of a player.
I get the impression it is method based as opposed to strict theory/probability based. Does it matter if the odds are X, but these guys are able to push bad hands and win? That is somewhat the point I got from the article. They weren't reading players, or strictly playing odds, but know the odds, they pushed people to make bad decisions. Is it a short term edge? Maybe, but it is working, and if you want to win , you should at least understand what is going on, as it is working now. That is how it relates to trading to me. I don't do the high frequency stuff or whatever, but I at least need to understand what is happening, or why I need a bigger stop and how it affects my bottom line. I then can adapt.
Loose aggressive players have huge draw downs. Kind of reminds me of Tom Dwan. Lost $4.3 million in 2009 :eek: Scary player though, nobody wants go get involved in pots with him unless you have the nuts. Then they are licking their chops.
Having a large portfolio that "swings" long and short, he uses Eminis S&P to trade and balance the portfolio as well for overnights. Don
don, did not you mention before that bob can go for years without a losing trade? those must be his swing trades. is he still trading that way?