****Official BFI Book Club - Trading and Exchanges: Market Microstructure for Practitioners**** - Page 2

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****Official BFI Book Club - Trading and Exchanges: Market Microstructure for Practitioners****

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08-01-2018 , 09:52 PM

#26

d7o1d1s0

Coach NLHE

Join Date: May 2010 Posts: 2,459

My book didn't arrive in time and I'm away from home for a month, will have to catch up next month

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08-02-2018 , 04:24 AM

#27

Pinkmann

old hand

Join Date: Nov 2014 Posts: 1,487

Ok you're right, lots of confusion with what puts you were actually talking about. I still am getting some numbers I wouldn't expect.

The combined position is just a long 300 call, but any stock price below 300 I add up as profiting more than the original trade.

Last edited by Pinkmann; 08-02-2018 at 04:31 AM.

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08-02-2018 , 05:04 PM

#28

ibavly

2010 PSOP Champion

Join Date: Feb 2010 Posts: 24,513

The book should have been more careful about dating itself (I know there's a disclosure).

Page 49, Madoff Investment Securities as the biggest third market dealer

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08-04-2018 , 02:14 PM

#29

MadScientist

veteran

Join Date: Jan 2006 Posts: 2,795

The tax law is set up to generally prevent the use of options especially in the money options to keep a position and get to a long term cap gains rate. It is complicated. Check the tax law. However if a position is already qualified as long term then you could use an option position to defer year to year.

Sent from my SM-G965U1 using Tapatalk

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08-06-2018 , 05:37 PM

#30

ibavly

2010 PSOP Champion

Join Date: Feb 2010 Posts: 24,513

Regulatory chapter is way out of date, to be expected considering how we're a whole new world of regulations

Suggest skipping all regulatory stuff

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08-10-2018 , 09:52 AM

#31

BoredSocial

Pooh-Bah

Join Date: Mar 2009 Posts: 5,018

I'm finding the book interesting, mostly because of how similar the financial markets are behind the scenes to my day job.

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09-12-2018 , 10:48 AM

#32

BoredSocial

Pooh-Bah

Join Date: Mar 2009 Posts: 5,018

OK at this point can we all accept that this book was kind of meh and move on to the Ray Dalio book that just dropped on Big Debt Crises? Actually can we form an entire skype group around studying it? It's 400+ pages of Bridgewater analysis that came out two days ago. I'm fine with limiting participation to certain posters. PM me what you want and I'll try to build the most useful group I can out of it.

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09-12-2018 , 12:37 PM

#33

ibavly

2010 PSOP Champion

Join Date: Feb 2010 Posts: 24,513

Book has been pretty disappointing. It gets more interesting in the second half, so if you have a decent understanding of markets I'd suggest just skipping the first part.

Very good read for someone clueless trying to learn about the industry.

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09-12-2018 , 11:16 PM

#34

MadScientist

veteran

Join Date: Jan 2006 Posts: 2,795

I like the book and am pushing through slowly, but I agree this thread kind of died.

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09-13-2018 , 04:48 AM

#35

BoredSocial

Pooh-Bah

Join Date: Mar 2009 Posts: 5,018

Quote:

Originally Posted by MadScientist

I like the book and am pushing through slowly, but I agree this thread kind of died.

I picked 'king of me' carefully lol. It's definitely not awful or worthless... I got about 3/4 of the way through and found all the information about different kinds of trades and traders interesting.

At the same time it's not a 400+ page treatise on market timing from people who have a long track record of doing exactly that.

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09-13-2018 , 05:46 AM

#36

BoredSocial

Pooh-Bah

Join Date: Mar 2009 Posts: 5,018

Quote:

Originally Posted by BoredSocial

*kind of meh. Jesus. In my defense I had just woken up when I wrote this lol.

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09-25-2018 , 04:43 PM

#37

rivercitybirdie

Pooh-Bah

Join Date: May 2012 Posts: 4,707

i appreciate this thread, which i just noticed for first time... i own the book (maybe earlier version) so i'll see if i can find it.

can someone point me in the direction of actually getting a user's manual (pdf would be great) for an actual institutional trading algorithmic system?

my interest is more in splitting up giant orders through the day than "alpha" trading or whatever you want to call it. i.e. actual mechanics of setting up automated trades.

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