CHICK GOSLIN vs THE MARKETMAKERS

[ANGELO]

Just started to read CHICKS great book and have spotted him saying that the market makers are generally out to get us (independant, one man band traders), just wondering how everbody feels about that statement especially from the more senior and experianced traders.

thanks for your comments .

 

[TheBramble]

If that's the sentiment you take into your trading - that's how you'll view everything that transpires. Our perceptual filters need to be (a) recognised and (b) normalised when trading to ensure we see only what is - not what we think 'is'.

Trading requires an sustained ability to more profitable than 'the other guy' - whoever they are - if you're going to maintain consistent success in this endeavour.

It's up to you to do whatever is necessary. Just as it for MMs and all the other players.

There's nothing personal in it.

 

[ANGELO]

just like CHICK says , dont ask why the price is moving but what is the price moving to......

 

[A Dashing Blade]

. . . the market makers are generally out to get us (independant, one man band traders) . . .

Can't speak for the US but if anyone thinks that the MM's are out to get you in the UK then you're suffering from a massively inflated ego.

Vanilla UK equity market making essentially (yes I know but lets keep it simple!) revolves around letting supply = demand and taking the spread.

 

[nine]

Just started to read CHICKS great book and have spotted him saying that the market makers are generally out to get us (independant, one man band traders), just wondering how everbody feels about that statement especially from the more senior and experianced traders.

thanks for your comments .

I dont think this is a big part of his theme but, without suggesting the inflation of anyone's ego, the trading groups (mm's or otherwise) who get the opportunity to push a market a few points for their advantage will do so. For you the task is to understand if this has an affect in the timeframe you trade and figure out how to trade to minimize any negative impact of this (and maybe gain from it sometimes). Minimizing negative impact can be as simple as moving your stops outside of the noise.

 

[ANGELO]

It seems that all the more senior and expearianced traders are greatly focused on what the price is and where it is going , judging by their comments , I think I will take a leaf out of their book !!

thanks for the insight guys !!!

 

[CityTrader]

Just started to read CHICKS great book and have spotted him saying that the market makers are generally out to get us (independant, one man band traders), just wondering how everbody feels about that statement especially from the more senior and experianced traders.

thanks for your comments .

Sorry mate. I was a market maker for 18 years- had absolutely no interest in what Darren-day-trader was doing. Trying to avoid a pasting from the institutions was the order of the day!

CT

 

[SOCRATES]

Sorry mate. I was a market maker for 18 years- had absolutely no interest in what Darren-day-trader was doing. Trying to avoid a pasting from the institutions was the order of the day!

CT

You are quite right CT.

They have enough on their hands maintaining an orderly market and preserving order flow and having to cope with large institutional orders without having to chase minnows up and down ticks as well.

 

[CityTrader]

Just logged in for first time in ages ( emails someone had added a post to a thread I was subscribed to) and seen that Socrates has been banned- anyone want to tell me why?


CT

 

[timsk]

Hi CT,
Good to 'see' you again!

Just logged in for first time in ages (emails someone had added a post to a thread I was subscribed to) and seen that Socrates has been banned- anyone want to tell me why?

Well now, where does one start . . ?
Suffice it to say, eventually the backs of those that mattered were rubbed up the wrong way.
:cheesy:
Tim.

 

[CityTrader]

Thks Timsk, good to be back.

Shame. I kind of like the cantankerous (?)old fart!

 

[timsk]

Yes, indeed CT. I think many of us share that view - even those who couldn't stand him!
All of us have flaws and, in Soco's case, it was that he was intoxicated by the exuberance of his own verbosity. For those that could be arsssssed, I'm sure there were needles of insight and wisdom to be found hidden amongst the pomposity of his giant purple haystacks.
Tim.

 

[anley]

EVERYONE is out to get you in the markets in every way possible.

This is how the financial markets work so be careful.