"The best way to beat a rigged market is not to be in it in the first place."
And since most people here (rightly) believe it's rigged / manipulated (highly nuanced difference, but in essence, the same), why then are they in it? Why are you? Perhaps you have faith in free markets? I suspect that you don't, having comprehensively documented the huge penalties handed out to many major Banks recently.
For the record, "But you are so good you can front run the people doing the fleecing it seems".
No, front running is an SEC Violation (at a minimum)....even if you could do it. The subject has never been raised here. Never. A total Red Herring (once the Magazine of Silicon Valley VC's, but I digress..).
But, especially in
commodities and
currency markets (so let's be clear, I am not talking about common stocks, tho they are clearly also manipulated, but a little differently since it's not OTC, unless Pink Sheets) - with sufficient effort and study, which goes against the conventional thinking, which is why Joe is so often scorned and was just now by you, again - you
can understand how the market makers work (i.e. large banks, one and the same). You don't have to "beat a rigged market."...just have to know how to play by the same rules. And try and scrape a few crumbs off the table.
*** institutional orderflow, identification of pools of high liquidity at swing highs and lows (similar to S/R levels), where the stops are, and how they are taken out, etc. No-one here ever hear that expression? (aka "running the stops"). It's all fairly predictable, you only need to look at a chart (devoid of indicators, but with laser like regard to the prior highs and lows, stop levels, hi liquidity pools)....in those markets, anyway, that's where the big players operate, and obviously Debt, of course (but that's a bit different to commodities and currencies, both of which dominate the price of gold, of some interest to those here). Stock are for chumps. No one in a Wall St House wants work in equities. Just read Liar's Poker, 1989 (which I recommend, Lewis's first book at the birth of the first MBS at Salomon Bros. under Lou Ranieri...which ...is precisely where his book and later the movie "Big Short" start...the very first scene), or listen to me, or to Joe. Or don't listen.
They (equities) pale in comparison a) to Debt Markets (as you are well aware) , itself paling in comparison to b) Currency Trading /Forex.
I just replied to
@Forged about my 1/4C living and working for these major institutions in NYC (yes, admittedly in IT, but you learn a lot from the business people...you're creating their systems, getting their requirements etc.....and you have drinks with them etc...). I never even mentioned my time in Institutional Trades at Morgan Stanley.
I've said this before, and am tired of repeating it...I was told exactly what Joe is telling you. Do you really think these folks are buying and selling hundreds of millions of dollars of currencies, or commodities such as gold futures contracts (your "racketeers") based on a Slow Stochastic or MACD?
Well, they're not, but they do have to make a living, and it's very artful, and one can learn it.
In a nutshell, Accumulation, Manipulation (not illegal), Distribution. Then reverse.
You can't fight City Hall.
Remember Deep Throat from Watergate....
"Follow the money". I'd just put the word "big" before the word "money".
Note: NOT a conspiracy theorist, not a gold bug.
