Thanks guys, but i'm not looking for a pat on the back I just wanted to share that this SHO change can be good for some people. After all the whining here I figured it was prudent but positive results just bring out jealousy around here.
$5 sure, but the consistency of the prints and quotes left a lot to be desired. Keep in mind I am talking from a scalping in and out strategy. This guy was all over the place from a print by print perspective. I still made some money in the trade, but he shook me out pretty easy. I clearly should have made more. It will just take time to learn to read these guys with the new rule. I've adjusted to every other change, why not this one. If you don't learn to adapt in this business, you'll find yourself at mcDonalds soon enough and then George can claim unemployment is even lower.
We had a pretty long discussion about the Pilot program, and our feeling is that it's going to be a relatively long window of extra opportunities for pairs traders, and that a short time frame of increased volatility will fade into a more standard volatility based on other market factors. BTW, good job Dustin...take a "pat" every now and then. Don
I'm guessing the bids to hit were 30-50 cents away from the last price. Quite a price to get in short.
Dustin, I noticed you have blue star ointments seal of approval... Do you know that can only mean one thing??
I must have missed the valuable post where the actual technique was revealed. After all, your success doesn't put 2 cents in my pocket, and might even take a few out. Did I forget to mention I made $25,000 betting a triple at Monmouth 25 years ago. Not sure that will help anyone, but its at least as valuable as some of the posts here.
Jeeze, now every wacko out there is going to be going short. I still say they should only allow registered shortologists to go short.
I must have missed the part of the ET Terms of Use where every post must reveal one's technique, or put money in YOUR pocket. Personally, since the rule change yesterday, I have been very interested in whether my fellow traders would notice an improvement in the 'tradeability' of the market after the change. Dustin's post was very helpful for me in that respect, and I appreciate his willingness to share his experiences with the effects of the new rule change. -Eric
The problem really is that 80% of the posts are people claiming their best trader in the world and you suck, or that your wrong or that your dumb. Half the time they'll tell you that your wrong, but offer no reason why or what they'll feel is the correct way. It would be nice if some people along with their smart ass comments could actually provide some usefulness. The website shows how many posts someone makes, but what good is someone who posts 1000 times with 900 of those being rips on other traders and telling the world he's the best without ever revealing one trade or idea. A waste of server space, just to stroke their own ego.