1. I believe it did, but I don't have a copy in front of me at the moment. I specifically remember the author refering to John commenting on "the sharks of wall st smelling blood" or something like that. Commodities are zero sum, there's no way around it. ANY position that they lost on, someone else gained on. 2. I didn't state or even imply that it was good for the country or the people of the country (or at least, I didn't mean to). I assumed that this was a discussion about money. Russia issued the bonds (IOU's) and never repaid them. That's the simplest form, whether that was detrimental to it's people or not, isn't being debated by me. I'm just saying they made money on that deal. Let's think of this another way. EVERY stock, bond, future, house, baseball card or other financial vehicle is simply a transaction of money trading hands. Someone buys, someone sells. The amount of money (let's forget transaction costs for the moment) is the exactly the same on both ends. How then can the amount of money EVER change? No, when a currency collapses the relative value of it's money compared to the rest of the world's currencies decreases. The money supply itself is still the same, the value simply shifts from that currency to others. I concede one thing. Yes, money can dissappear, but the only way I can think of right now is by bank runs. Then the money created by fractional reserve banking or fiat banking can dissappear, but only because they created it in the first place. TNG
Value is value, peopleâs perception of value might change, but still value is value. There are two sources for money supply growth. Banks and the Central bank. Peopleâs perception affects the first source more than the second. In real value is only destroyed if itâs destroyed physically.
No idea but Jack's rhetorica Jack(shit) killed a perfectly interesting post with inane blather that was more steaming pile-of-shit than the last republican and democratic conventions put together.
Jack is such a pleasure to read. His posts on this tread make a lot of sense. Obviously the world needs to be prepared for what comes next, Jack it turns out is handing out the building blocks. HBIMH so many times pulling out anything of value for me to see. Who doesnât want to stay in the market all the time and always stay on the right side of the market? Reversals I do in some markets..
sometimes I copy material so it is handy to anyone reading my response to the material. In this case I copied: 1. a statament I made to a person x, 2. x's response to that statement. Then I posted a further comment to x. As you see x doen't understand my viewpoint and he is classifying it in his classification system. I do pool extraction. For me, trading is simply taking all that is offered all the time. I do use a Lego approach as well. Think of Lego's as building blocks that have just two outputs. Binary. And they are time based so they are vectors. They have direction and magnitude. I do not hold overnight in my intraday trading. So at black swan time, I am cremeing the market simply because I only have as many contracts running as the market can bear. If the market is doing blocks of 100 contracts and I have 250, I use an approach (think of a pile of Lego's) that scales my reversals at precise turning points a given partial fill at a time all based on the 100 the market is doing on T&S, the DOM and on OTR tick volume. Turning 250 is a five partial fill turn, obviously. During a black swan there are many many turns caused by other's predictions and reactions. Basically, on a day like the 27FEB07 we all got to see no liquidity for a while. It was just a case of liquidity being provided to me by first the units guys blowing out on margin calls, then the tens guys being blown out by margin calls, then it got interesting, the hundreds guys knew how wise it is to play to stay for another day. The camtasia and the audio we did was unbelievable and astonishing. what made it so terrific was seeing people finsihing their careers as others were, as I said, having the best day of their lives. Money was changing hands quite rapidly on very low liquidity. Accounts were just being cleaned out of one sort or another in a particualr order (small to large as usual). SSp thinks as do 95% of the public (whether Dems or Reps, lol); ssp is on the opposite side of the swan than I. No matter the example, there is the consideration of who wins and who loses and afterwards what is going to be happening. Bonds provide tangible applications of money. The application is owned by someone and that is still there. So is a home and it still has the same replacement value. Those many many people who closed their trading accounts on the 27th for me and the SCT traders, can still watch their money being traded by us if they wish. It takes 10 unit traders to make one tens account. It takes 10 ten's traders to make a hundreds account. So since there was no liquidity on the 27th, many many small traders had to have margin calls so my cars could be used to take profits at each and every opportunity I needed to extract. At the trader's Expo, they had some live trading under the Moderation of Charles Shaap. two guys were trading, one was competing with the other and the other was taking money out of the market. fortunately I got there late and had to sit on the floor just in front of one screen. At 9:26 or so san dieago time it was a short (point 1 going to point 2). A spike (odd harmonic) presented point 2 and it was long time to point 3. (level 3 channel). next we had the FTT at about 1515 and it ook off to the RTL and the beginning of a long Gaussian at the RTL. The Live Trading Challenge was over. the guy nearst me on the stage stayed on sidelines for point 1 to point2 to point 3 ot the FTT wher upon he punched in a short trade at 1514.1 and placed a stop @ 1520.1. His non competing opponent took four trades as did I. Since we know each other by first name I moosied over afterwards to have a laugh with him. In the middle of the trading, I asked the competitor guy next to me if he was a trader half way through the presentation. he said he was, So I said which side are you on now. I knew his opponent and I were in and short at the moment. He replied he was flat and looking for THE entry. then he explained what "being flat" meant. Near the end he go stopped out at the top of the dip as BO occurred on the RTL of the level 3 short channel. He had gone short on the FTT that started the long within 1 tick of the ftt down spike. He made two calls: and entry and a stop that were perfectly opposite of what to do. He was the head man of a trading outfit. So was the other guy trading live who nailed four trades. After it was over a lot of people talked to one of these two people. Trading the markets in a better way just means you are making money on black swans when they pop into the picutre.. some pople do and love it and others are most always freaked out be the markets. One guy predicted and reacted And lost and got stopped out. the other guy dod what is inbetween predicting and reacting: anticipation. If you are at point one at 9:26, you are in and gong to point 2. If you know point 2 is coming you know that so is point 3 and so is the FTT and so is the BO and the first DOM trav on the new trend which is going to point 2 which id going to point3 which is going to FTT which is going to BO which is going to point 1, etc. If there is a swan, then it is on a Dominant leg....lol..... what I am talkingabout is making money when there is money to be made...like all of the time........
Thank you. It is kind of you to explain. To be honest, if you haven't been called kind before on ET, you are a kind person. I agree with you and work buying-upswings-selling-downswings as a continuum that being the best mode to exploit market sessions fully from open to EOD.
Jack, Vectors do have direction and magnitude, but since when are they time based? Recently you wrote that you're fully automated. When are you going to show us the code? Pay-it-forward as you're wont to do.