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Strategies & Market Trends : From the Trading Desk

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To: Dominick who wrote (2325)1/18/1998 2:36:00 PM
From: Robert Graham  Read Replies (1) of 4969
 
Yes, I agree that the NASDAQ has that well-deserved reputation of being the manipulators of their market. They are trying to protect their interests which lead them into what I see as a "grey area" of ethics. Some more agressivly pursue their self-interest than others. Those agressive and careless MMs are the ones that cause the problems. However, we as traders still need to deal with this.

What I am saying is that market manipulation is overused as the excuse for a trader's failure. Many times that a trader thinks a stock has been manipulated against him, the source of the problem can be found in their own execution of the trade. For that matter, ultimately the market does not care about a specific John Doe Trader. Traders are faceless to them. But there are people in their losing pattern that do believe the market is "out to get them". This is a silly and unhealthy attitude towards the markets that will facilitate more losses for that trader.

Bob Graham
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