Knightmare On Wall Street

Last week I wrote about the implosion of Knight Capital a market maker whose minor software glitch managed to almost implode the firm. Nanex a firm that deal in supply data and analysing market movements have produced the following little video that tracks one of their screens during the Knight meltdown. It starts a little…

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Olympians And Advisors

I get feeds from all sorts of things ranging from HFT, obscure bits of derivatives trading news, physics – particularly string theory (which I don’t understand nor does anyone else) to how to lift heavy things without your small intestine popping out your backside. But occasionally I get something I dont expect. Such is the…

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Fear and Ignorance

Over the past few months LB and I have noticed what I would call a climax in fear in businesses and individuals. We have tried in vain to engage other trading businesses in various joint ventures that would be good for all.  However, despite leaping at the chance the reponse from all has been…..we cant…

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A Few Rules

Whilst at the AIA Conference I was surprised at the number of folks who did not have a coherent approach to the market. In fact I would say that a plan was a rarity. This prompted me to dig out this old ready reckoner of points I think should be somewhere in your plan. Its…

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Keep in mind these thoughts for today: – Obstacles cannot stop you. Problems cannot stop you. Most of all other people cannot stop you. Only YOU can stop you. – There are 3 times when people change – When hurt enough, when they desire enough, or when they learn enough that they want to change.…

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Beating Yourself Up

I’M SENT A LOT of emails every month from people who are trying to come to grips with errors they’ve made and problems they’re experiencing while trading. It’s so tempting to beat ourselves up when we stuff up a trade, isn’t it? If you’ve found your self-talk is suffering after taking a battering on the…

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Well….That’ll Learn Ya…

I came across this headline – Knight Capital Says Trading Glitch Cost It $440 Million $10 million a minute. That’s about how much the trading problem that set off turmoil on the stock market on Wednesday morning is already costing the trading firm. The Knight Capital Group announced on Thursday that it lost $440 million when…

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Better…Sort Of

Still no volume follow through. Widespread participation would be good. Given the mess the inhabitants of Wall Street have made of their own patch I dont blame the majority of people for not wanting to be involved. The perception that this is still a rigged game run by criminals still persists.

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Algo’s In The Local Market

On the way back from the Gold Coast I had the chance to catch up with a mater who I had not seen for many a year. He once had the misfortune to sit next to me on a dealing desk – he has since recovered from that experience and gone on to successfully manage…

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