Choose your enemy carefully

Discussion in 'Trading' started by bundlemaker, Jul 26, 2002.

  1. Seems to me an awful lot of time is spent on this board pissing and whining about market makers and specialists and how difficult it is to win against them, etc. etc. etc. My question is: why in the world would you choose as your competitor a pro, when the market is full of novices, neophytes, and plain old vanilla idiots who are more than willing to give you their money? Come on guys, there is more than one way to skin the proverbial cat. If what you're doing isn't working, try something else. Because you know what? There is a group of traders out there that made a lot of money, even on a day like this. And I'll guarantee you they didn't expend their energies on finding excuses for their results. They just did what they had to.
     
  2. Where do you find Vanilla idiots these days? During the Great Day Trader Boom and Bust, there were a lot more idiots. One could make a living trading off CNBC.
     
  3. JORGE

    JORGE

    There are still a lot of people out of their that pay up for a stock first thing in the morning because of some analyst recommendation or fluff news piece.
     
  4. yes, just not as many, and they don't have as much money as they used to.
     
  5. Bundle has a great point. This has been a trader's market for the last month or so. There are plenty of the public panicing in and out of this market and enough volitility to make a living. The S&P rebalancing was an amazing play for so many of us in the trading community. The "pros" (MM's and Specialists) are making their living off of the vanilla guy why not us?

    On another thread, Bungrider mentioned all the complaining and whining on these boards. His point should be well taken. Quit bitching and start focusing on trading.

    Pick your spots to complain. If you get screwed move on and find the next trade. It is more productive.
     
  6. JORGE

    JORGE

    I might as well include myself in this category after giving up half my gains for the day in the last 1/2 hour breaking all my trading rules in an iliquid market. Hilarious!!!
     
  7. You can make a good living eating the puke off the floor from your brother scalpers; just wait till you see the rain of vomit and run over with your bucket. :D
     
  8. Huh? What are you saying? I don't get it. Are you saying scalpers are good or bad traders? I said it doesn't matter as long as you can make $ consistently...
     
  9. Well our Brother Scalpers can be categorised in a similar way to any fraternity of traders... countertrend scalpers, momentum scalpers, and breakout scalpers on some occasions have their profit outcomes fused symbiotically and productively (not a zero sum game), and on other occasions are eating eachother's profits in a zero sum game, due to the frictions inherent in the current dynamics of the orderflow...
     
  10. VOLUME

    VOLUME

    You can make a good living eating the puke off the floor from your brother scalpers; just wait till you see the rain of vomit and run over with your bucket.




    :confused: :confused: What the hell are you talking about??????
     
    #10     Jul 26, 2002