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Honored Advisor

Trader Dan`s Blog

We get differing headlines of information within 2 hours, so humans are very easy dupes in the trade.  

 

http://www.traderdannorcini.blogspot.com/ 

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5 Replies
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Senior Advisor

Re: Trader Dan`s Blog

You're a dupe only if playing the paper game. There are no real fundamentals if you play. Only strategies.

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Honored Advisor

Re: Trader Dan`s Blog

I think Guru Brian Doughty was talking about even he can`t keep up with speed in the small jirations of the market, you have to concentrate on a longer term trend.

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Advisor

Re: Trader Dan`s Blog

In regards to "strategy trumps opinion" I had a couple orders on new crop in today which missed by a couple cents in beans and few in corn. Probably OK with that, corn might have been the bigger miss.

 

But it is what it is and in the modern market it is paramount that you have resting orders in, day and night, and are willing to be wrong on the initial fill by a fair bit (of course you always have to be willing to be wrong by more than that in the long term). The days of picking stuff off within a tick of the high or low are a thing of the past and you're just going to get frustrated and fail in trying to do acheive the greater objective..

 

Bigger markets, wider ranges today, but also thinking about the arguments (well actually weren't any arguments, everybody else was in favor) concerning index funds back in the recent day. Fear was that if markets go up with dumb money they might go down without it and fair enough, even some academics chipped in to support that notion.

 

But we had a system that worked just fine- we had convergence of cash and futures, had a non-profit futures exchange that functioned well as basically a public utility.

 

But we're stuck with what we got so have to live with it.

 

 

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Senior Advisor

Re: All you can do

Is offer to buy or sell at an acceptable price and hope for a decent fill. Do not make an at the market trade because you have little expectation of a decent fill.

 

It's merely a casino and all you can hope to do is to pick and choose adequate entrance and exit points out of the chaos.  You aren't going to out maneuvor the computors, so pick a trade you like at a set price and failing that you try again.

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Advisor

Re: All you can do

I'll disagree in one regard.

 

Resting orders are best but if you feel the need to do something rather quickly don't mess around, go market.

 

Nothing worse than missing something that you felt was important because you were trying to skin an extra quarter.

 

Needless to say, the number of times when you actually need to do something should be few.

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