They used a chatroom they dubbed “the cartel” to coordinate euro-U.S. dollar transactions in order to maximize their profits. All three said it was not illegal for traders to share information, and that their transactions were not coordinated as part of any scheme to fix prices.
You still didn't answer my question. Your "price rigging" posts are something of a non sequitur as they relate to my original post.
Marketing Why would the client pay you fees if you had nothing proprietary (a secret formula)? I m not an insider, but I would be very surprised if someone has anything so very original that the other guys didn't hear/think of.
Directions you can even find on ET. So let me get this right, you'll spend countless hours, maybe months and probably years to discover a good edge and then you just give it away. I think if you look at the people who make the most money, you'll find that they don't have an endless supply of highly profitable methods. Even if they are capable of coming up with new ideas with such ease, the time spent developing is something you never get back.
Good point, can't really argue with that. I think it's more true when it comes to automated trading as it is obviously easy to replicate. I guess I was thinking more of a discretionary trading where the edge is more illusive. In any case, once I acquire something of value, I may agree with you even more
I was thinking the same thing, before I had something of value (subjective, yes), I had no concerns about sharing anything. Things didn't come easily for me as I lack talent and intelligence but I work very hard. If someone is using discretionary methods and trading say, the liquid indexes, losing the edge really is not a major concern because you can make slight adjustments to reduce timing competition.
It's not that people don't have anything original (the ones who do, keep it very close to their chest) but even how you use it can make a big difference. There is also a matter of letting people know how to front-run you if you disclose your process in detail.