how do we compete with someone like this?

[Euler]

Value strategies are highly variable so you expect big +ve's and -ve's

[brimson25]

Sure, intellectually, makes sense. But did you have an emotional response at all?

Or were you just confident in your process and long term record?

[Euler]

Always confident

[Tobedotty]

For the newer guys I'll just write this PSA.

The thing about trading for huge size is adverse selection. If I come in to the market and stick up £100k on the ladder I'm massively exposed to being 'wrong'. I'll likely only get filled on a part of that £100k against dumb participants and I'll get destroyed by someone who knows that my odds are wrong.

Essentially: The person who takes liquidity gets to call bull on the person offering liquidity. This means you can't stick £100k up, because the only guys swinging 100k know as much or more than you do.

This is a powerful concept in finance as it is a huge factor in determining the liquidity in both betting markets and financial markets.

[ShaunWhite]

Sure, intellectually, makes sense. But did you have an emotional response at all?

It's about scale too brimson, 15 grand isn't the same amount to everyone. We can all relate to the same costs, price of a tv, price of a car etc but buying a round when you're broke isn't the same as buying a round when you're minted.

Psycoff & a few others throw 5 or 6 figures around like it's pocket money and it won't affect whether or not the mortage gets paid this month, if they had one.

[brimson25]

Sure, intellectually, makes sense. But did you have an emotional response at all?

It's about scale too brimson, 15 grand isn't the same amount to everyone. We can all relate to the same costs, price of a tv, price of a car etc but buying a round when you're broke isn't the same as buying a round when you're minted.

Psycoff & a few others throw 5 or 6 figures around like it's pocket money and it won't affect whether or not the mortage gets paid this month, if they had one.

Yep, I for example lost £15 one day; but it was ok. I won £30 the next day (Is there an emoji for laughing and crying at the same time?)

[stueytrader]

Too true about scale: depending where I've been in life financially I've been emotionally broken by a 50 quid losing day, or less bothered by a 500 quid losing day....mad world we exist in as traders.