Life Arbitrage

[gooseman]

it could also be inferred that i like eating fried dog sh1t. did you think about that view? ooh, it's boring today. thank fck for the golf

 

[Technically Fundamental]

Lol okay.
If you're that bored then why don't you give me some information on a market of your choice. The kind of stuff you have to be told and can't learn for yourself you do that and not only will I not invite you for food again I'll stop talking to you all day if you want.

 

[gooseman]

ask me a question, you have 34 minutes until cricket.

 

[Skill Leverage]

I'm guessing he'd rather watch the golf mate. Westwood's on a steamer...

 

[Masquerade]

ask me a question, you have 34 minutes until cricket.

Is this a question

What's the meaning of life?

Where do babies come from?

Is there a god?

How can I make 1 million £ in one day trading when I have a button, some old cotton and a computer?

 

[gooseman]

1)money

2)me

3) me

4)short JP (not a recommendation btw)

 

[Masquerade]

1)money

2)me

3) me

4)short JP (not a recommendation btw)

I believe you missed out one.

 

[gooseman]

nope-i just didn't know the answer to that one

and westwood is playing a blinder.

 

[Technically Fundamental]

What strategies do institutions consider when prices are approaching major support and resistance levels near the end of a trend, do they set a "range" of acceptable prices at which to convert their cash and what real effects do forward prices and options volumes have on the spot prices?

 

[Masquerade]

Ok, I have a new question:

Please can you tell me where the fx desk has their stops and limit orders on cable and eur/usd? Also, if they're planning to short $ on the run-up to unemployment today? I'd rather be outside if this isn't budging anywhere for hours.

 

[gooseman]

20 minutes is not enough to pour scorn on that question.

i'll answer that in 2 parts

major institutions is a bit generic, each trade depends on a trader and most of the analyst work you read that give you S&R levels are for their prime clients based on major indicators. yes, i am aware of levels that are talked bout but i use TA just to look at entry/exit levels rather than bas e astrategy on them. if i feel the time is right to do a trade then no point arseing about for 3/4 ticks here or there. just pull the trigger. saying that i do know huge technical traders at "major institutions" that trade totally on TA but that's not for me. as i say a little generic to ask across the board given that each traders remit/preferences are different.

huge. pretty much all hedging of derivs is done in futures or cash-i can give you so many examples of 100 tick moves in underlying because of some exotic structured position. gamma mentioned somewhere yesterday how on expiry underlying often drifts towards a large option strike (for example) due to market makers playing with gamma/tuning detla.

 

[Technically Fundamental]

Thanks for the answer Goosey. Enjoy the golf.

20 minutes is not enough to pour scorn on that question.

i'll answer that in 2 parts

major institutions is a bit generic, each trade depends on a trader and most of the analyst work you read that give you S&R levels are for their prime clients based on major indicators. yes, i am aware of levels that are talked bout but i use TA just to look at entry/exit levels rather than bas e astrategy on them. if i feel the time is right to do a trade then no point arseing about for 3/4 ticks here or there. just pull the trigger. saying that i do know huge technical traders at "major institutions" that trade totally on TA but that's not for me. as i say a little generic to ask across the board given that each traders remit/preferences are different.

I assumed that the banks had an organisational target/goal that would nee dto be reached for cash flow purposes and that funds would just tell clients whatever to get their money and just do what they were doing. That's why I asked that generically but I suppose thats me jumping to conclusions again.

huge. pretty much all hedging of derivs is done in futures or cash-i can give you so many examples of 100 tick moves in underlying because of some exotic structured position. gamma mentioned somewhere yesterday how on expiry underlying often drifts towards a large option strike (for example) due to market makers playing with gamma/tuning detla.

I got laughed at for saying that. I just said it makes sense to that the price is going to go there if big guns have an interest in it getting there.

 

[gooseman]

it's the cricket on now mate.

you have to remember that there are many, many trading desks at banks. treasury, prop, syndication, sales, market making etc. this is what people don't seem to get.

as for the option strike-it's not so much the big players wanting them to get there, rather the opposite. having an expiry bang on the strike is a bloody nightmare. if someone trades against a market maker, he does his delta. as time goes by (especially so close to expiry) he has to remain delta neutral and so naturally he is forced to adjust his deltas according focing the underlying to the strike.

 

[Skill Leverage]

Being a trader on a syndication desk is a bit like being an engineer in the RAF... it's cool to be part of it, but everyone knows you didn't want to end up there when you signed up.

 

[Technically Fundamental]

lol

 

[arabianights]

4)short JP (not a recommendation btw)

hmmm.....

 

[gooseman]

read the bit in the brackets. i have been quoted their spreads.....i know not to be short them

 

[arabianights]

read the bit in the brackets

I would, but I can't read

 

[gooseman]

you're an amazing guesser then given your responses.

 

[Technically Fundamental]

you're an amazing guesser then given your responses.

Yeh just like when you trade.

*ba dum psh*