You see Smurf: I have explained this very patiently in previous posts. Apparently you are a person of limited intellect and cannot understand the premise. The folks who run this site are not stupid. They have watched you for a while now and are pretty clear as to what you are in to. They see all the aliases. They see the facade. They see the book sales, and the crappy posts and frankly they are probably tired of it. Now they may not want to come out and say so, but they probably take some pleasure in seeing you get your ass whipped on a semi-daily basis. If it got to be too much, I would surely be warned or banned. I try to use discretion. But then you are an easy target, because you offer such obviously stupid comments. Frankly I intend to ease up on you now. It seems that your capacity for stupidity is greater than my interest in poking holes in your fake ET persona. I expect you to have at it for a while, and to trot out all the aliases you have in reserve. I will let my batteries recharge and then come back to swat you around a little bit later. Bye Steve
Just so that I can follow along, could you please explain what you mean by that statement? It can arguably be interpreted in a number of ways, and I'm far too lazy to assess each one. Therefore, kindly point me in the right direction.
How nice of you to come along with your pithy comments. I will bet at a real accident scene you stop and take photos.
Hey! Lighten up, guys. I was taking my old man afternoon nap with my young wife, imagining that she was my younger girlfriend. Sorry to keep you waiting, Steve, and thank you kindly for the civil response. ET is such a rude place! So many fucking wise-assed aliases floating around, the putzes! I am a philosopher at heart (hence so many of the aliases' names) and I bring that to trading. Philosopy is literally "love of knowledge". And the mere mention of the word "knowledge" invites epistemology in. That makes my old mind flash on Michael Polanyi's "Personal Knowledge" and his discussion of tacit versus explicit knowing. I will argue here that trading uses some of both. Let us begin with the explicit. I tap the IB icon. I key in my user ID and password. Bring up order entry and create a market buy for one NQ U6, mate it with a market sell, and duplicate both several times savoring the anticipation of success. I assert that for most traders the explicit stops there. They have not the faintest fucking clue what reality underlies the events which will follow as they trade. "Are you with me so far?"
yep (My Response is as follows) I am familiar with Mr. Polyani's assertion that "we can know more than we can tell" as well as his theory that our personal beliefs direct the process of research and discovery. I don't disagree. The problem sir from my point of view is that he termed this phase of discovery as the "pre-logical" phase, and that is where I have to part company with the theory. Not because I disagree, but because "pre-logic" is equivalent to "non-logical" and therefore of limited use to a person trying to make a living in the markets.
Thank you. So here we enter the tacit. Take care, because a lot of tacit knowledge isn't. At the core of most retail traders' behavior (and perhaps that of some of some quants who program trading computers) is the secret cherished belief that the market is an eleemosynary society. That it is there to give them money, that this is their due, and that unlimited riches await those with the simple courage to participate. (Jack obviously never read Alexander Elder, much less remembers that Elder said "The market is not your mother.") So what does H. Plecostomus recite to himself before the open?: Those who make the markets would be happy just to take the spread all day so long as they don't have to carry any significant inventory. If you the retail trader don't cooperate, and make them carry inventory, they are going to try every stunt they can think of to distribute it back to you. They don't give a shit about you, you are just paper compared to the orders placed by institutions, especially large brokerages and funds. If they need to fill large resting orders, they are going to take the market wherever they have to to get YOU to fill them (inventory, remember?). I could go on, but you get the drift of the gospel according to Hypostomus. Paranoid, yes?
I think this thread can/ should be closed by now, since they both agree on something for the first time.
Soon Steve will be thinking he is me, or I am him. If he didn't already know Polanyi, he certainly is researching him fast.