Wall Street = Casino. Minus Sum Game.

This is a discussion on Wall Street = Casino. Minus Sum Game. within the General Trading Chat forums, part of the Reception category; Originally Posted by DionysusToast Events move the markets, not technicals. I can quite safely say without any shaddow of a ...

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Old Jan 15, 2010, 7:30pm   #71
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Re: Wall Street = Casino. Minus Sum Game.

Quote:
Originally Posted by DionysusToast View Post
Events move the markets, not technicals.
I can quite safely say without any shaddow of a doubt that these "events" do show up technically.
The problem is sorting the meaningful "events" from the noise.
Once this is achieved then the game is easy.
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Old Jan 15, 2010, 7:44pm   #72
 
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Re: Wall Street = Casino. Minus Sum Game.

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Originally Posted by counter_violent View Post
I can quite safely say without any shaddow of a doubt that these "events" do show up technically.
The problem is sorting the meaningful "events" from the noise.
Once this is achieved then the game is easy.
Events generally show up on the chart after the market has reacted to them.

For instance, if you know an institution is dumping something because carrying it is against their rules, the chart will show you a down move. What the chart won't show you is when this has led to something being pushed well below it's true value, especially if this instrument is new.

In my opinion, nothing in the price action will tell you that a price rise is due.

Anyway - Wall St still skims off pennies off all of our trades, book sellers still profit from selling books, web sites still profit from advertising, fund managers still get guaranteed percentages of capital, system sellers still get money from selling systems.

If trading were so profitable - why don't the above people focus on trading instead of all these other activities that generate guaranteed cash ?

Far more money is pulled out by the sum of these companies/individuals than is taken back out by the investors that put it there in the first place.
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Old Jan 15, 2010, 11:11pm   #73
 
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Re: Wall Street = Casino. Minus Sum Game.

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Originally Posted by DionysusToast View Post

I think Captain Currency spends his time sending out spam emails to sell his ebooks.


More than a little unfair I think. As Tim has pointed out, his most famous e-book (in the context of T2W anyway), is free. I don't know about any others.

Do you have any evidence of these spam emails? (Or is this some sort of standing joke between you two...?).
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Old Jan 16, 2010, 12:26am   #74
 
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Re: Wall Street = Casino. Minus Sum Game.

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More than a little unfair I think. As Tim has pointed out, his most famous e-book (in the context of T2W anyway), is free. I don't know about any others.

Do you have any evidence of these spam emails? (Or is this some sort of standing joke between you two...?).
Sadly, I didn't keep the emails. Try contacting the good Captain asking for a copy of the ebook. He'll ask you for an email to send it too & soon you will learn that the free ebook doesn't contain a few 'special ingredients' that make the method even more profitable !

These of course are detailed in a second ebook (and a course too I think) which sadly, cannot be given away for free.

Same story if you get the free ebook from his blog - see how it can't be downloaded - you need to send an email addy first ?

I believe they were coming to me every 2 days until I told hit to cease - which he did straight away.

Now - there is nothing wrong with that, it's just the way that the financial services industry makes it's money - by parting the gullible from it.

We all just need to be aware that this is the game being played.
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Old Jan 16, 2010, 2:33am   #75
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Re: Wall Street = Casino. Minus Sum Game.

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Originally Posted by DionysusToast View Post

Events move the markets, not technicals.
No. The most basic thing that moves the markets (market makers apart) is buying and selling. The second most basic thing is sentiment. The buying, selling, and sentiment can be based on fundamentals, events, technical analysis or numerous factors about which you are aware after the event.

Just because your style of trading suits you, don't make the mistake of assuming that other styles don't suit other people.
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Old Jan 16, 2010, 3:54am   #76
 
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Re: Wall Street = Casino. Minus Sum Game.

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Originally Posted by DionysusToast View Post
Sadly, I didn't keep the emails. Try contacting the good Captain asking for a copy of the ebook. He'll ask you for an email to send it too & soon you will learn that the free ebook doesn't contain a few 'special ingredients' that make the method even more profitable !

These of course are detailed in a second ebook (and a course too I think) which sadly, cannot be given away for free.

Same story if you get the free ebook from his blog - see how it can't be downloaded - you need to send an email addy first ?

I believe they were coming to me every 2 days until I told hit to cease - which he did straight away.

Now - there is nothing wrong with that, it's just the way that the financial services industry makes it's money - by parting the gullible from it.

We all just need to be aware that this is the game being played.


OK - that wasn't the case when I downloaded it - but that was quite a while ago.



Well, I do use MAs, but not in that way, so I don't use his method anyway.
However, others seemed to, and seemed to be getting something out of it.
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Old Jan 16, 2010, 3:56am   #77
 
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Re: Wall Street = Casino. Minus Sum Game.

Interesting: I regard sentiment as one of the fundamentals, and in a way, so can TA be.
Crudely stated, sentiment could be regarded as the reaction of human beings to the "real" fundamentals (as they perceive them).
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