The hitching the ride part...Bingo...but with a twist, who cares where the bidders are...just so they are there...
iliquid, I once had a successfull system trading off of the character of how the MM opened an instrument. I wanted to learn HIM, not the instrument. I never took it live, but I scanned for several instruments as a basket trade to gamble on this. I have often wondered how this worked. It can be done with TC2000 (lol, that was 5 years ago at least) Michael B.
illiquid - lol....each market participant like those institutional traders just "implement" their edge on the market..each participant do it in his own way...morality,ethics,right or wrong aside in another topic....they are simply employing their "edge" .....
Folks, Just vote. I believe Illiquid has shown me to get off this quest...and embrace not gambling too...
I have a dream...an imposs... Imagine living in a trade world where direction had no bearing. You were at the wheel and were taking 10% off of the gamblers for each hand they played...while waiting for a direction to manifest itsself. Your only limits were how far your unrealized grew and how long it took to reach parity. But once it reached parity, your trading became less and less of a gamble as time progressed forward tick by tick. you eventually reached an IMPOSSIBLE point that you would ever return to reverse parity... see the spreadsheet. I will post it again. This only holds true if you believe flow>capacity... Michael B.
I will say this, but not to sound egotistical or boisterous. (I know I am coming off that way) The reason why the market works is for reasons I will not discuss. Some of you know it, but I do not want to throw it in your faces. Live the dream...(if its gambling well thats not my dream) Michael B.
I know underneath it's all a semantics game, but I wasn't referring to ethics or morality at all -- I'm comparing the market maker or specialist who is just managing merchandise and not really making any judgement on the market whatsoever, versus someone who's not required to take the risk at all but chooses to. In essence, someone who's got the temerity to claim that at this moment, the market is in one way or another wrong, and therefore an opportunity for profit available. Is there a real qualitative difference between those two?