Quote from: defxor on September 01, 2011, 08:11:08 AM

Quote from: d'aniel on September 01, 2011, 07:56:04 AM

FFS, 3 out of the 4 examples I gave didn't involve cheating.

Alright, let's do this again: No trader has ever outperformed chance.

If you have knowledge that is not available to the market, that is cheating, and isn't covered. We're talking about your regular FA fund manager or the TA scam-cooks. Not the CEO telling his friends the results of next week's laboratory testing.

If you want to claim that traders outperform chance you're free to source that information. "I believe", "It's obvious", "This book here about successful traders" etc aren't valid sources - usually because they don't take chance into account.

There are traders who beat the market 10 years straight. It doesn't say anything about year 11, and it doesn't mean you could've predicted who they would be. That's what chance means here.

Please explain to me how exploiting arbitrage opportunities or uncovering fraud and market manipulation is cheating? They're certainly not illegal.

Read the article kjj posted. I promise you it'll clear everything up.