Have you used dbphoenix's teachings to become a successful trader?

Jeez Surf, these guys didn't come up with Auction Market Theory as you well know.

As for buying when the market is going up and selling when the market is going down, last I saw you try to do the same thing. So?

 

Not exactly. He botched it. Badly.

 

The operative expression is "try".

 

Careful with the bullshit..., I fall into the category of not caring if each trade works or not

And we can certainly compare our daily PnL's to determine the "they don't do very well or they fail" part



Willing to let it slide - but not very far

RN

 

I would say they are misusing the term auction market theory as well as some Other terms bandied about by the "experts" on this thread.

 

Excessive zeal perhaps.

 

I chalk it up to a complete misunderstanding of how markets really work. But you may also be correct. surf

 

"When the quantity brought to market exceeds the effectual demand, it cannot be all sold to those who are willing to pay the whole value of the rent, wages, and profit, which must be paid in order to bring it thither. Some part must be sold to those who are willing to pay less, and the low price which they give for it must reduce the price of the whole. The market price will sink more or less below the natural price, according as the greatness of the excess increases more or less the competition of the sellers, or according as it happens to be more or less important to them to get immediately rid of the commodity. The same excess in the importation of perishable, will occasion a much greater competition than in that of durable commodities; in the importation of oranges, for example, than in that of old iron."

[and here we have the first description in modern finance of what is known as a 'hinge,' i.e. price equilibrium - fortydraws]

"When the quantity brought to market is just sufficient to supply the effectual demand, and no more, the market price naturally comes to be either exactly, or as nearly as can be judged of, the same with the natural price. The whole quantity upon hand can be disposed of for this price, and can not be disposed of for more." Adam Smith, The Wealth of Nations, (well known Guru of Trading)

I'd say something clever here, but the intelligent will understand the point of my post.

 

Now that was truly "laugh out loud" funny. I'd call you a moron, but it would be against my Christian nature.