Days like today make me wonder why we often complain about HFTs so much. I mean think about it. All you had to do was do the following:
1. Buy SPYs at 103.02 on the open at risk below 99c. Ultimate piker play
2. Buy BIDU at 69.80 and risk below the magic 75c level
3. BUY AMZN at 111.05 and risk below the magic whole
4. BUY CLF after the whole lifts and play momentum and sell the close
5. this one is a bit more advanced. Look out. But you buy 59.26 and risk below the magic quarter…to catch 3 points. what’s so hard about that?
6. Sell BP at 33.20 and never be out of the money. i mean talk about infinite risk:reward.
7. Wait for FDO to open at 37 let it bounce 30c and then give it a nickel. What a great short.
you see these are all standard plays in the piker playbook for scalpers. What’s so hard about that? why aren’t we all making millions??
🙂
5 Comments on “A little fun – No need to complain more about HFTs”
i am not sure, but was this a sarcastic post? were these trades that you executed, or were they things that you saw in hindsite as the day progressed?
Gman:
Great trading ideas, I have some questions about FDO and BP.
FDO gapped down 2.5 pts, I did not see alot of weakness on the tape, except for the 37.34 offer holding abit. Is that the reason you went short? I was looking for a long around 37.0 that never materialized.
As for BP, how many lots of shares would you take for the intraday reversal trade, and what is the exit.
Regards,
Tapetrader
we aren’t making millions bc we don’t got it like you G ! we’re still trying!
hehe. thank you all for the comments. These were in fact time machine plays, by that I mean plays I could have only been in if I had a time machine. It is always so easy to look at a chart and play that game of “you only had to risk 3c there and you would have caught that entire move”. That was the point of this post. I was actually pretty mad about my trading seeing how I was long for the first 20-30 mins of the day and got cracked on the open. Then it really got ugly when I flipped my bias. Talk about a round trip!
Happy trading
hey G , when we starting that algos 102 class?? we need it baaaaad.