S&P method

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badtrader

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Can Anyone on here back test an S&P method The floor traders use. They have an agreement among themselves, to use these numbers as a trading guideline, so that we the public, and not them, get creamed in the market. and no they are not Pivots what everyone knows about, these are new to the Floor. :D
 
You can laugh at this if your a non believer, but it has also been noted on the Dow .....and they get hit time and time again.

Those in the know , know what i'm referring to !

C V
 
counter_violent said:
You can laugh at this if your a non believer, but it has also been noted on the Dow .....and they get hit time and time again.

Those in the know , know what i'm referring to !

C V
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I have had this method form a veteran trader.I am not sure what you and fader are on about?
 
Sounds like another good way to give yoour money away. Good luck.
 
twalker said:
Sounds like another good way to give yoour money away. Good luck.
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Give you money to who. This method, if you call it a method, was given to me by a s&p pit trader.Thats why I cant give it out on here, But I will give the results when I back test them,.I got someone doing this for me
 
most people get creamed on the S&P , especially small timers like you lot .

devilishly difficult to trade .
 
Stockjunkie said:
most people get creamed on the S&P , especially small timers like you lot .

devilishly difficult to trade .
Click to expand...
So you ara a BIG time trader.

For the record I trade YM Russell mostly Russell these days and forex.I had this method given to me by a pit trader. You can apply it to other markets

BT
 
Pit traders often use methods which are appropriate for the pit but do not work well at a desk. They have a significant advantage when it comes to slippage and cost. I know plenty of pit traders and this is what makes the idea of a method very suspect. Good luck to you hoowever, I hope it does work.
 
lol - most pit traders are too busy trying to cream eachother than collaborate around a set of secret numbers.

good luck
 
I'm not too sure, I think given the chance they would rather shaft joe bloggs than shaft each other, and they do have the power to pull a market in a certain direction.
 
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Speaking of numbers I just spent a week in Jack Bros' room (hotcomm), nice place, great numbers and nice to hear from someone who worked in the pits and knows them all by name, you can even hear them swearing in the background. I shorted when he said the best guy in the pit just sold to the worst guy, was a nice trade
 
There are / were many pit traders that I know or knew of , you must remember that anyone who's been in this game knows it is a fast changing environment , it is not the civil service .

Sometimes , a man in this job can change firms 3 times a year .

I knew Ben Shepherd head of floor CSFB , Foo Ji Nan of bankers Trust , both out of SGX , just 2 names I can recall offhand.

That said , it is true that a lot of pit tactics don't work outside that specialised environment .
And certainly it will not transalte well for smallish home based traders , if one tries it , then it should be obvious why .
 
Thanks Fade

I will take a look next week.

To stockjunkie

Agree it is a fast environment, and methods do change over the years, But one method over the years have not change for the pit traders,is they all look at the Bond market for clues
 
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