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--- David Elden <eldenworks@xxxxxxxxxxxxxx> wrote:
> Actually, in speculation since it is not a zero sum game,
***agreed, but only until the accounts are balanced at the eod
>the floor traders, large commercials and exchanges have the edge,
since their information is superior and their costs are nothing or very
small.
***disagree, may have been true 10 years ago, or even true today in
thin illiquid markets, but in light of e-trading and the coming of side
by side trading (outcry and electronic), the edge will/has shifted to
the off floor trader. that's why membership prices on the exchanges are
tanking. i think information is less of a factor today in the nearly
instantaneous dissemination of the info flood via the internet. but the
significant info, ie, the stuff the insiders are acting on, will always
be reflected in price. and a clever off floor trader will be able
recognize those subtle patterns before the masses and profit from it.
those off floor trades who learn not to overtrade will negate the
cost/slippage advantage of the big boys who must make a market and
trade often for their survival.
TJ
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