159: Greg Newman – Bringing Stoicism to Trading—and Market Making in Oil Derivatives
Chat With Traders
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Is There a Shift in the Futures Market?
The introduction of algorithms and high frequency traders in the futures market, that's made a huge difference. These guys are just trying to profit from flows essentially. And I know it well because it was the first time I'd actually shorted the outright price of oil when ISIS invaded Iraq. That was the first day they did it as soon as I shorted it. The real collapse in oil seemed to be most timely with the equity sell-off we had last week. It was massive. To ignore macroeconomic these days would just be stupid.
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