I'm genuinely curious why you post on ET. A review of your posts seems to suggest that you believe you know everything already. Many of your posts are tantamount to telling people how dumb they are. I'm only half-kidding. I'm curious to know exactly what you derive from your time spent here? It's your perogative not to answer of course.
yep, another goodie is that they get to see order flow. have experienced many times on both EDGX and BATS liquidity backing away when placing large marketable limits on their NBBO, especially in a fast market. in real fast markets they just hold your order. if it smells like a fish... but, they're still the best game in town for cheap route outs.
Are you telling me not to post in ET? I love ET... Don't take ET away from me... Ple-----ase... NOOOOO!!! NOT MY ET!!!! Anyways... to answer your question. "What I derive from my time spent here in ET?" Waste boredom. One issue is, when you do know about "something" about the topic and a newbie posts questions about it (and/or catches my eye), I follow / post something on it. When the thread starts to go off into a whining thread for example: 1. The thread starts off with some analysis. (Let's say... Neural Net) 2. The thread gets solid replies. (Like a reply about people's past hands-on experience) 3. Some person come in and challenge those solid replies, but very immaturely. (Something like... "I believe computers can't out-perform a human trader. It's just not acceptable") 4. It gets into an opinion fest, of whether they simply like it (agree) or not. (Usually it's the people who's done it vs. People who knows about the topic subjectively) I usually post something arrogant when it comes to 4. I don't claim to be posting solid replies all the time. Honestly, I think I post stupid stuff more than the serious ones. But are we really obligated to be serious, all the time? I doubt it. Concerning this thread... Once someone posted, I trade with an edge and there's one that worked for xxx / long time killed it. Do you consider all arbitrage trades an edge? Do you consider a trend-following an edge? Do you consider a buy/hold strategy an edge? Do you consider all trading system/models (Black Box) an edge? Do you consider a discretion added signal (like Grey Box) an edge? Do you consider a profitable discretionary trader an edge? If you have been profitable for 1-2 years, do you consider it to be having edge? Well, when people are making some money, they like to consider themselves to have the edge. That's the trend in ET, it's undeniable. All of the above is not for me. The reason why is all of the above can be done by anyone else. You open a retail account, learn programming, research, develop models... that's not an edge. Does this mean all quants. are always trading the edge? I don't consider it. An edge is literally an "advantage" over others. Finding some tendency, exposing them, or making profits in a way most cannot do. And yes, this post killed alot of time for me...
I think it is now bot vs bot, and it is exactly this exploitation of inefficiency that keep the market efficient.