Saturday, October 15, 2016 7:38:32 AM
as if I was the teacher and everyone else the pupils. I am trying to hone my trading skills while, at the same time, polishing the skills of readers if there is something I see that they don't.
There may be errors in my interpretation of Level 2. L2 is a gathering of data and it's up-to-us to predict what effect our actions will have upon the pps. Our interpretation of the data in L2 is theoretical and therefore subjective.
I put my interpretations out there to be tested by you. If your interpretation makes more sense than my interpretation, I will abandon mine and adopt yours.
But the very first thing we must do is verify our logic. You posted this conclusion:
"so in essence its ok if others bid wack as long as they are buying your shares."
I replied that your conclusion was a non sequitur (in logic that means "it does not follow") and therefore it's faulty logic.
The last three words should have read "selling you shares"
First, we must agree that we are trying to make profit at the expense of the other traders in the particular stock.
Imagine that we're playing football.
1)Your offense is on the field when you are SELLING your shares. i.e. trying to score points (profits)
2)Your defense is on the field when you are BUYING shares.
i.e. trying to prevent the seller from scoring points (profits) at your expense.
As for the tactic of "bid-whacking" we compare it to GOING FOR IT on 4th Down in a football game:
1)When I'm on the Offense and have failed to get a first-down by fourth down, I should, abandon my attempt to try, and punt the football away. (bid whacking is dangerous and BAD)
2)But when I'm on Defense I WANT the other team to go-for-it on 4th Down because if I hold them, my gain will be greater. (bid whacking is dangerous and GOOD)
"Man cannot discover new oceans unless he has the courage to lose sight of the shore." ...Andre Gide
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