Discussion in 'Strategy Development' started by -EntropyTrader, Aug 18, 2003.
So any Idiot Savants out there? Know of any?
I knew a slew of guys who could trade the NYSE by tape reading with the spoos. There were dozens that made a good living. I do not know if any of them make money doing that anymore. There use to be a real edge to reading the book. I do not see it overcoming commissions too often anymore. Same thing happened to level 2 trading. (I am sure there are exceptions).
I know of one hedge fund guy out here who apparently buys them when there low and sells when their high and particularly loves to short even during bull markets, who made so much money he nows has his own jet. But I haven't talked to one of his traders in a year. I understand that he learned fundmental analysis and t/a to talk to investors but the real deal was he had balls and feel according to guys who worked on his desk.
Hopefully, this link will work (webcast lecture from Paul Tudor Jones):
Yeah those guys must be a really small minority. But I guess whatever approach you take as long as you have a solid money/risk management plan, you should at least survive.
Following the gut can be profitable as long as your donât allow the prejudices of the mind to interfere â and youâre backed up by solid money/risk control methods.
Maybe someday I will fit the bill - I think I have captured the esscence of the first part (idiot) now if I can just grab hold of the second part (savant)
Hope we graduate to that level soon.
Don't you know it - I hear tell dat savant level is da ticket
There was a contest on ET once to just look at some charts and tell if they were random or actual, I scored about 85% right by just looking and answering. Others scored better than that. I also have the idiot part down pretty good on a lot of days.
Ok, how about just Idiots? Know of any?
Separate names with a comma.