Sorry guys I haven’t been active very much lately. I just have to say that the AI discourse is so boring.
Why is it that working while on vacation hits so much different than working from the office?
Forbidden fruit…
Everybody’s talking Fable and Sol. I don’t see much discussion around how abysmal the @GeminiApp models currently are.
Really mind boggling since Gemini Pro used to be quite good. And it’s not even the case of if you’re not getting better you’re getting worse…
Somehow it feels that half of the world takes too much unnecessary/bad risk (prediction markets, crypto, memestonks, gambling…) while the other half is excessively risk-averse and conservative w.r.t. investing, career changes, creating opportunities etc.
When something works the mind gets easily fooled into treating that as the given model of the world in which it operates and only tries to develop and polish that further.
What if your assumptions are just wrong and if you start from a different angle it allows you to go beyond?
Me orchestrating a multitude of coding agents: Spacing Guild navigator threading the folds of space
You juggling a few: slop-generating vibe coder
I don’t understand the “you’re not guranteed to get the b/a you see” point. Obviously if you send pure market orders with no price specified than you can probably buy for infinity and sell for zero, but who does that? I meant that you send an IOC with a specified price.
Market orders trade price certainty for execution certainty, and limit orders do the reverse.
Three reasons to not use market orders for options, and two reasons where market orders make sense:
1. With a market order you are not guaranteed to get the bid/ask you see, it can change at any point, and if it does your fill won't match what you expected.
2. Unless the bid/ask spread is very tight you can often do better than the listed spread by putting in a limit order inside the spread. I usually start a the mid-price point between the bid/ask. This works particularly well with combination orders like spreads/butterflies where you are trading multiple options with multiple strikes/expirations/direction (buy or sell). Mid-price fills are common.
3. If you are trading in size, multiple contracts, then you will likely get fills at different prices, always worse than the quoted bid/ask with a market order.
When to use market orders?
1. For very liquid securities that have options with very tight spreads. The bid/ask prices are fluid and there is very low risk that your will get a bad fill
2. In fast markets where you want/need the trade to fill immediately. Chasing a market that is moving away from you with limit orders is a bad idea, the risk is much higher than the potential gain.
Limit orders for light traded ETF are often a good practice also.
sixfigureinvesting.com/2012/…
In that case the only thing that can happen is that someone hits/lifts/cancels the level before (in which case the price is already running away from you, but no “bad” fill) or someone tightens in the opposite direction (in which case you get a better price than your IOC price).
A lot of people suddenly followed me today. At first I didn’t know why, because I wasn’t tagged in anything etc. Then I stumbled upon this post/list. TY for the reminder, I should post some actionable edges again. 🤣
If I get over 10k, I might do some 🧵s again.
I also have a list of people who are genuinely worth following who sometimes reveal actionable edges, obviously it’s a lot shorter xitter.cf/i/lists/18432661159436…
