[opendais]

Yes, but he is talking about trading penny stocks/pink sheets. He is on par with the people the "armchair economists" unless he is super wealthy and can prove it.

You sure you want to act like he is a financial guru?

"If you've been following penny stock trading circles on twitter for awhile, you'll know certain tales of legend were born on that day. One particular trader profited $1.2 million in a day. When that many traders produce their largest gains on one particular trade, you know it doesn't require some crazy genius, It's the stock that does all the work and makes life easy.

My day was just peanuts in comparison but it was still my personal best, as I made $33,000 (with no profit split! which felt amazing). The trader across from me, who I will affectionately nickname El Chango, had seen enough. El Chango was branch B's head trader. It killed him to see easy money slip away due to inaccessibility. He pulled CCG's principle owner aside and pleaded for him to enable access to the OTC."

His method?

"Simple. Look for the extreme volatile moves on massive volume. If the direction was down, find the first held bid. Buy. If the direction was up, find the first major seller. Short."

If it was really how that worked in the real world, it'd have been eaten up by HFT.

[fleitz]

HFT on fucking pink sheets? LULZ.

What about the HFT risk from getting goods for free on CL and reselling them back to CL?

[opendais]

Like I said, if it really was how it worked someone would find a way to automate it. :P

I suppose I could have been more verbose. I tend to use acronyms sometimes and not think through that it could be read differently than I intended.

[fleitz]

Yeah, I was once considering building an OTCBB trader that would trade all the pennystock promo bullshit and see which (if any) lists actually worked and just trade the spam. The amount of degenerate gamblers in that industry is insane.

Almost built a claim jumping / claim expiry bot for mineral titles. Claim expires tomorrow? Grab it at 9 AM? Claims made today? Stake the blocks around them.

I think anyone with half a brain would clean up on OTCBB with a little automation.

[buckbova]

You'd think so but the problem is volume. When it's time to buy you can't get enough shares at the price you want and when it's time to sell, there's no buyers.

I used to trade pennies for fun, because maybe I was one of those degenerate gamblers. Options trading can be just as much fun.