My Journal - Pro Trader

This is a discussion on My Journal - Pro Trader within the Trading Journals forums, part of the Reception category; I have been a proprietary trader for the past 10 years, thought I would let out what's on my mind ...

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Old Jan 19, 2010, 1:05am   #1
 
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Joined Jan 2010
My Journal - Pro Trader

I have been a proprietary trader for the past 10 years, thought I would let out what's on my mind as I am seeing a change in the trading industry that others are not seeing or ignoring the signs. I have traded for many equity trading firms in New York and Chicago and have been trading at a desk in NY for the past three years. I have seen this floor fill up to 300+ traders and now it's down to about 30 traders left which none of them are profitable, those that are can barely pay their bills. All these additional fees that have been raised or added in to traders P&L are mind blowing and have made it so difficult for the "good" trader to even have a chance anymore. The fees are eating traders alive and there is no way to cut it how ever you slide and dice it. Not only that the NYSE/Nasdaq equities markets have changed tremendously, we are in the "high-frequency" trading world now with black boxes, auto programs, gray-box applications which throw days traders for more confusion during the day. I see the "training program" business has rocketed the last few years because NO traders are making it, even the experienced traders are now jumping in the "training programs". Guess I have been fortunate to learn from pro traders years ago to be surviving in these times but it sure is difficult, the big days are not there like they use to be.. If your interested in knowing anymore you can check out some of my blogs on http://www.tradersterminal.com or feel free to drop me a message.
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