Awesome. We agree to disagree. Because you worked for 1 or 2 institutions hardly qualifies you to make a blanket statement about the entire institutional investment/trading atmosphere. BTW I'm not a conspiracy theorist in regard to institutions or much for that matter. In regards to ADPI and the multiple other situations that I've participated/observed over the past 2 1/2 years of my short professional trading career, I have no clue who was on the other side of any of those trades...I can't say that it matters to me at all. I just know that when I see level 1 and level 2 bids/offers moving in a particular way in conjunction with the price and there is no news....there probably is news and we just don't know it yet. I'm a prop trader and we trade in teams...and you're right that isn't the norm in the prop world. What isn't implicit in saying that a buyer/seller is sophisticated is that the buyer/seller is institutional or otherwise. For all I know, it's someone's automated system on the other side of our trading floor...but probably not. Anyways you sound much older than me. I'm only 26 and this is all that I've done since I graduated college. You probably know more about all this other stuff anyway. I'm not out for an argument about something I have very limited knowledge about.
ALoha mate. No institutional fund-managers (investment banks) dont trade of charts in the way that normal 'proper' traders do. Since at the end of the day banks have no money of their own to use, they merely have the money that other people have come along and given to them, in the hope that they will get given more back. (These people are idiots though, but so to make sure the cycle continues of these idiots giving money to trading banks n firms the firms have to make the fools think they are doing something smart and professional). Since while selling a market after a very steep rise when theres a head n shouders formation form, and then cashing in a few hours later when its a few 100ticks in profit is the smart correct way to trade and make money..., However it doesnt look especially fancy or high-tech though. But the fools n idiots will only trust something that looks complicated n high-tech. So investment firms just only hire boffins and nerds, who think that maths and the stockmarket are in someway connected. And instead of 'trading', these nerds just create huge complex scientific mathematic calculations about averages and probability, (so basiclaly just scientific gambling), and then they just let these formulas do the trading for them. (The formulas are designed in such a way that they will never make or lose much money, instead they will simply just keep making 1000s of calculations n trades per minute based on mathematci probability, and each trade will mke or lose a very little amount). But so they just then hope that the end result is them making abit overall each week/month/year.
Alright forget everything else we were talking about. I just read a quote you made on a thread where some guy called pineman whined about why he rode the pine at a prop firm. You made one of the best quotes I've ever seen on this website and wow is it so true. You said, "To perform under pressure, you need to control that pressure. To control the pressure, you need to know that pressure. To know the pressure, you need to experience that pressure. It's painful but traders need to be willing to experience pain." In my own growth [and I am def still growing] and in being a senior trader with a student, its apparent that as a new trader [and a growing profitable trader] that you must seek discomfort!! That was my motto when I first started and I was struggling. I couldn't figure out why I wasn't succeeding at something that I knew I could do. A lot of it was due to not being able to confront my fears and place my self in unfamiliar situations. Of course a lot was discipline as well. Nevertheless, I'm at a point now where I'm intent on increasing the duration of my trades. That quote spoke volumes to me. Thanks.
It is easy to see that you and the person you quoted have the limited environment and the limited experiences over many years. You are both in a place where the box you are in is so limited. It is very clear that there is no way out of that box no matter how many locations there are where you have an office and trading rooms with others who work in those rooms and adjacent offices. The contest is both sad and very humorous. It is like those pioneer farmers in Minnisota who cleared the woods to make farming as possible as their vision allowed. Not many miles to the west and south the vast plains opened up. Later other pioneers would move onto those plains and establish very successful farms that now rule the bread basket of the world. It was not the size of the farm so muxh as the size of the minds that were doing the work. You both are sooo small minded in your views, beliefs and thinking. For others who are still mentally free to consider, there is a world where huge amounts of capital can be continually transferred in to your multiple accounts where their capacities are simply a function of market liquidity which is ALWAYS there and which is growing in direct proportion to the number of participants who show up to extract the capital from the pools. As we all are aware, the economics of the world have been fucked up badly and most of those with money, power and information are frozen with regard to putting in the fix in any significant way. You and the person you quote are the problem and will go down with that ship along with soo many others. Opportunity for those who still retain their mental powers, on the other hand, are looking at OPPORTUNITY in very large and bold letters. What it takes to get accounts in place and in the right places is equivalent to arriving on the unploughed plains and perceiving that the tools in the Conostoga wagon are superb and no one has seen them taken out and used to do the harvest that is in store for the world's prepared community. New banks and new HF's will be used. New aggregations of leaders will be empowered. Knowing how to "read" the language of the global situations is NOT going to be "problem solving using rule sets". Someone asked me to comment on "whats up' in 2009. I usually post in December the legs of the following year in terms of time and values (see the 2008 example). Someone coined perfect storm to characterize the concurrence of several events. Now we have nine concurrent larger than everbefore concurrent happenings. Repair is no longer on the table. Making use of existing structures is not going to play. The only thing that is going to play is the language of the markets. Those with reason have spoken: Carnap, Keynes, Bayes, Braithwaite, LeDoux, Edelmen, et al..... Probability is over....gone with the storm...... Ihe language of the markets is pure and simple... its cornerstone is integrity. Its building blocks are reason and logic...... you and the person you quote do NOT get it...... Pain is NOT a requirement nor factor..... What is a factor neither of you have..... You are using cheat sheets to have shorthand rules to think you are winners after pain. It is really only fight or flee for you guys. Incoherence personified. Replacing the status quo nine times over only has to do with "knowing the language" and hearing, seeing and feeling... All with respect to market integrity ...... a thing that does NOT come from the assumed and apparent controllers, the regulators, nor the owners..... Taking the pools of capital is done through the language of the markets. Sloshing the pool around is not "taking the offer". Now, we come to unloading the tools to do "the taking"..... "TAKING OUT" (THE OFFER) the capital and then applying it to what is the OPPORTUNITY is what you are going to be seeing happen. The perfect storm was fun and games. LTCM, Enron, the 60 billion guy, et al.... Now, we get down to work. Probably, it would be a good idea to do this all in "funny math" to get the attention of the people who screwed it all up with lack of integrity. We'll see....
"One sure sign of a Pseudo-expert is writing that is unclear and difficult to follow. Unclear writing comes from unclear thinking. A true expert will be able to explain complicated ideas in ways that are clear and easy to understand." - Curtis Faith, author of Way of the Turtle Jack Hershey, please do each of us a favor and never address me again. I guarantee I will never address you after this first and only time as you will be placed on ignore immediately after I complete this post. If you cannot comprehend the role of pain in periods of growth in trading (really the concept of pain coexisting with growth transcends many facets of life) then kudos to you! Your path to success in trading has been different than most traders and certainly different than my own. I hope that my small minded "views, beliefs, and opinions" never grow to be as open-minded as yours are. Otherwise when I speak it will be just like reading the following - a;ljfdln aldkjaljdf aljflsadjflaf owejaoihg ksdjfijpow afjlasjf lakjoiadh aljdfjfa ajdklfjals ajf;sklafjdal kdjkf klfjdkfj sdkfjaifhihf sdfj sadfj sd jfsdf jdsklfj a;laj fsdjf sd fsd fkasd fjaksdjf;lsajfalskd (this is what its like reading anything that you ever post). You seem to try so hard to sound soooo incredibly intelligent that you end up being perceived as inarticulate and long-winded. I'm not interested in reading anything that you ever post again. I've read a total of about 4 or 5 of your posts ever since the inception of my registration at Elitetrader and none of your posts make sense. This isn't a statement in regard to your method of trading, b/c I know nothing about it and I'm not at all interested. Although as you must be well aware there are many on this site that have their own opinions in regard to your style. Anyway, I've wasted too many minutes of my life addressing you. You are now placed on IGNORE. http://www.tradersnarrative.com/jack-hersheys-incomprehensible-method-971.html