Have a read: http://www.zerohedge.com/article/guest-post-here’s-proof-day-trading-dead
Any thoughts?
Any thoughts?
oildaytrader
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So many xcunts out there writing crap about subjects they are clueless about,like all the idiots who can't make it at day trading because they are useless at trading.
Snake charmers can make a living from playing with deadly snakes, so can day traders.
I don't agree but I'm no expert.
The way I see it, provided price is moving intraday and there is sufficient liquidity then there is room for any type of trader. If the markets change in some way it is obviously up to the trader to adapt or die. The way the market moves shouldn't make day trading obsolete, the only thing that can\will do that is price not moving.
The way I see it, provided price is moving intraday and there is sufficient liquidity then there is room for any type of trader. If the markets change in some way it is obviously up to the trader to adapt or die. The way the market moves shouldn't make day trading obsolete, the only thing that can\will do that is price not moving.
MarketMoverTrader
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I don't agree with the article - I love day trading and I make a killing most of the time. Yes, I'm at complete mercy of the market, but it's up to me to either surf the waves, or get drowned by them - to use an anology. I think after people fail at something they slag it off so they don't feel so bad. I.e. - Day trading is dead, therefore it's not my falt I lost all my money, because it just can't be done. It's the market's fault!
It's interesting as even bears in the market are talking about how HFT is the future but at the same time, people want it regulated more with more time in between bids and offers to avoid false indications.
MarketMoverTrader
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It is what it is - adapt or die, but don't complain.
Shakone
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I believe in Gaia theory. There is a self-regulation going on. Yes the algos and so on, may be quicker and get some pips ahead of you, but their goal is not necessarily your goal, and the market needs people (not just algos) to trade, for the algos themselves to work at their best. The more you eliminate people and keep algos, the less the algos will make, until the algos are fighting over scraps amongst themselves, and it becomes not worth it, and the algos decline, and then the humans increase, and it is balanced...and so on.
Actually that's all BS
but I do still like gaia theory
Actually that's all BS
but I do still like gaia theoryI believe in Gaia theory. There is a self-regulation going on. Yes the algos and so on, may be quicker and get some pips ahead of you, but their goal is not necessarily your goal, and the market needs people (not just algos) to trade, for the algos themselves to work at their best. The more you eliminate people and keep algos, the less the algos will make, until the algos are fighting over scraps amongst themselves, and it becomes not worth it, and the algos decline, and then the humans increase, and it is balanced...and so on.
Actually that's all BS
For a load of BS that makes an awful lot of sense and is probably completely true.
Lord Flasheart
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its all seems to be about share trading,nothing to do with forex
meanreversion
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The machines are going to take over the earth, run away
oildaytrader
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At last a sensible post.
B
Black Swan
I agree with just about all of that article and sadly it's something I've been aware of since I started in this industry. *They* want all your/their money, they don't want you to have a fookin penny, the banks/IBs will do whatever they can to make that money circulate amongst themselves by playing new games with each other that you have no access to. Also some of the regulatory changes in the US must have made plenty of day traders chuck in the towel and the start up costs are now a huge barrier to entry...
Surely it's not just me who can *feel* the difference this year versus last? I accept that 2008 was bizarre and therefore 2009 had an overhang but IMHO I've felt some non too subtle changes in market/price behaviour on forex. Synesthesia or a hunch? Not sure, but something is different and call me para but I just continually get the feeling the profit is being hoovered up...
Surely it's not just me who can *feel* the difference this year versus last? I accept that 2008 was bizarre and therefore 2009 had an overhang but IMHO I've felt some non too subtle changes in market/price behaviour on forex. Synesthesia or a hunch? Not sure, but something is different and call me para but I just continually get the feeling the profit is being hoovered up...
Moves are certainly more erratic but FX, being more liquid, has been a lot easier to manage for me than trading the YM and ES in the last few months. Granted I could have just bought and been done with trading for the year
The volume has just dried up recently which is a sign that some of the article is true because HFTs are just driving it up like before the Flash Crash.
wackypete2
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Absolutely, 100% correct.
You and I have had minor discussions about this in other threads. There certainly is a difference. I don't know what it is either...but it hasn't stopped me from day trading, only made it more difficult. I have had to make some changes in how I trade , so I'm adapting, but not happy.
Peter
wackypete2
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"You can change all the laws you want. You can't stop the game. I'll still be here. I adapt. " -
Lawrence Garfield, in Other People's Money, (Warner Bros. Pictures,1991)
Peter
Lawrence Garfield, in Other People's Money, (Warner Bros. Pictures,1991)
Peter
B
Black Swan
Adaptation for sure, you can never be relaxed or complacent in this game. I reckon long term you're actually bang on the money taking 10-15 pips in a trip and getting out. IMHO that's the future of fx day trading...
Adaptation for sure, you can never be relaxed or complacent in this game. I reckon long term you're actually bang on the money taking 10-15 pips in a trip and getting out. IMHO that's the future of fx day trading...
FOr 1 or 2 pip spread...that's 10-20% commissions - dodo time.
wackypete2
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% commissions are not all that relevant if you can be a consistent winner.
If you swing trade you can get 1-2% commissions but larger losses too. It's important to understand your own tolerances. Each trader is different.
Peter
