I'm not sure I can agree completely.The fact is that you don't know what you don't know. Allow me to be public defender here if I may,but please keep doing what you doing,challenge the status quo.If something does not seem right call bullshit on it,you add value. To give you analogy to poker you have this opinion that every trader is Chris Ferguson type of player,who only bets pairs and high value cards.If you are not familiar he does not play too many hands.I view myself more like Tom Dwan type,I will bet with any cards ,example with 9 7 to see the flop as often as possible. I can not post hypothetical trades on public forum,because they would reveal money management method behind them.After certain amount of trades I be in the profit. Sounds bold? ,Virtu does this in HFT,at end of every day they are profitable.I am not in that space,more like at the end of every 3 months. Why this jackass does not share anything you can ask.You are not the enemy,the quants are the enemies.They have the resources to reverse and implement what took me years to find answers to and these are/were very difficult questions. I can not explain more about specifications of characteristics of the trades.Code breakers were all mathematicians.It could take quant guys 30 days to figure this out and they have financial resources to implement this very quickly.It took me around 5 years to sort of get an idea intuitively what to look for and another 3 to find methods that fit the idea. This is reason why you see less and less people on this forum actually exchanging ideas about trading.Knowledge collides with efficiency of processing that information and the result is a space vacuum. There is a lot of collaboration between members if you search posts from years back. I personally never posted much as I don't have University Diploma and because of that i felt low self esteem.I did not want to be laughed at.But i am very good at sniffing out good staff from what others said,maybe because I did not attend college so i am not "trained" or did not discount their views as worthless. Now i am confident and you can't shake me down. I don't trade live but do tests manually on software.So yes I am wannabe as you put it. Why is that if I claim to have systematic trading strategy that can be automated. Because I don't have enough funds to mix it up and trade few "decks" at the same time in order to randomize a little bit the exits.Take from one "deck" and close the trade in other "deck". I am paranoid,it was just too hard and cost a lot in terms of time,i am not greedy type. And in this last few sentences I already wrote too much.You see to the trained eye this already says something.He probably has this around 1 to 1 risk/reward.Yes it is true,this is the easiest to reverse engineer. You know what is the real reason why Virtu partners with JPM?They want to mix it more and hide their own exits.They were already profitable beyond their dreams before this announcement.They are getting worried that somebody may reverse engineer their secret sauce and I am operating in larger time frame so there is bigger risk. https://www.wsj.com/articles/high-f...rtu-partners-with-j-p-morgan-chase-1470237145 Not that i claim to know how Virtu trades,far from it.It is just same thing applies to me " The law of large numbers",after certain amount of trades profit shows up. Like I say watch Tom Dwan play poker and compare this to Chris Ferguson,two different styles.For Tom Dwan exits are far more important than entries,He is known to be good bluffer so this is also exit strategy in itself. I hope this does not help some quants ,hahaha
Hold of 73/74 sets up touch of 64's Exact triangle target is 62.75 Liquidity run to trigger the stops set below 67 on the gap fill.
Folks hunched over their computers , glued to the screen, looking to capture a big 2 point move. --Stepping over dollars to pick up pennies.