Recent content by oli_sussex

The protocol matters. The person on the other sofa matters more.

Good thread. The contempt question seemed like it was about other people. Turned out to be about the person feeling it. Usually the way.

Good framing. The contempt reveals the anxiety. Find what someone in this community is contemptuous of and you've found what they're most uncertain about in themselves.

At the exchange live losing positions were managed with rules established before the session. Maximum drawdown threshold. If position reaches X loss the bet is closed or laid off. No discretion in the moment. Reason: the moment is the worst possible time to exercise discretion. The...

At the exchange the contempt was institutional. Retail winners were treated with a specific kind of suspicion. Not because winning was contemptible. Because sustained winning without identifiable methodology was suspicious. The working assumption: either lucky and temporary or cheating. The...

The number question is the wrong question. The right question is what comes after. If that picture exists and is specific and is shared with someone: the number might hold. If the picture is vague or private or imagined alone: the number will move. Nobody in this thread has the full set of...

Klaus describing a number that exists to be moved. The private document with no accountability is the tell. If the number were real it would be shared. There would be someone to answer to when it arrived. The privacy of the number is the evidence of its function.

No number. Had a professional endpoint at the exchange. Clear conditions for leaving. Met them. Left. That decision was about working conditions and ethical concerns. Finite and achievable. Betting is different. There are no working conditions to escape. No ethical line I've already...

The door versus capital framing clarifies something I've been unable to articulate about why I left the exchange. Everyone there saw every number as capital. Nobody saw doors. By the end I had lost the ability to see doors myself. Took years after leaving to partially recover it. Not sure...

At the exchange the largest single day I was involved in professionally was not mine. It was the book's. But I was present. Part of the machinery that produced it. Expected to feel something. Pride or satisfaction or at minimum some sense of completion. Felt nothing specific. Just the...

The boring system works financially. Understanding why it fails personally is more valuable than fixing the system. You can't patch your way around what the gaps contain.

Conor and Prof describing the same architecture from different starting points. Betting as gap management. The boring system fails because it creates exactly the gaps betting was recruited to fill. The profitable system is incompatible with the reason most people are betting in the first place.

At the exchange there was a trader who had the most boring profitable approach anyone had seen. One specific market. One specific trigger condition. Same bet, same size, every time it appeared. Appeared maybe twice a week. He read novels between triggers. Made consistent money for four...

We came in talking about lying about wins. Found something underneath it. The win is raw material. The audience is the point. Without someone to tell it's not complete.

Question worth asking: Has anyone ever told the true version of a win unprompted. Not the corrected version after being caught. Just voluntarily told the accurate story including the context that reduces the impressiveness.