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Yes and your retirement funds/ mutual funds. Far easier for them to protect downside exposure through S&P derivatives than unloading every stock individually

Well said! I think more needs to be done to bring the balance of markets more in line with the end user in mind (and I say that as a day trader with no interest in the end user). But we need to make sure the markets serve a valuable purpose to keep people onside. But all these convoluted taxes...

All true. Take the idea of Financial Transaction Tax for example. It would raise everyone's trading costs 200%-400%. Imagine what the depth of market would be like with no short term traders. A 100 lot would move the ES 10 ticks. Volatility would be through the roof. Fair enough it would...

Hope so KTM. I'm not saying Wall Street is completely devoid of blame or couldn't do with some changes. It could. But the talk coming out of politicians mouths would destroy the industry. Not only for genuine day traders. But also the hundreds of millions in tax revenue it brings in.

Completely agree Maverick. Personally I'm making more money more consistently than ever before and I've seen a lot of evolution over the past 10 years. However the regulatory landscape is changing and that makes me nervous. Hence I was reaching out to people that have seen 20-30 years of...

Surely there were day traders in the 70's? Certainly were in the 80's.

Would you say the two go hand in hand? Higher costs/barrier to entry = easier profits. It kind of makes sense as less people = less competition

No doubt you're right. But i was specifically talking about futures trading. There is definitely more volume on every price now. However, overall volume traded is lower. Weird

It's a bit of an 'out there' theory. But trading pits would actually solve many of the fears and concerns participants and regulators have. A smaller group of participants. No HFTs. Designated trading hours allowing everyone to react to news at the same time. Reduced posting of fake orders etc...

Hi Robert. I completely agree with you. I can only see costs getting higher. I was speaking to a head guy at one of the futures exchanges yesterday that told me now almost 50% of their revenue is from data. I spend several hundred a month just on data now. But thats why i asked about the 80's...

Always interested to hear from the veterans and getting their take on things. Observations on how things have/havent changed. Ive been trading professionally for about a decade. We constantly hear "things are changing so fast and so much". Well, yes and no, somethings have changed, some for the...

Its about consistency. Focus on consistency and slowly growing your trading size. Absolutely no point making 10k then losing 8k then making 2k then dropping 5k. You cant grow sensibly like that. Focus on making 2-300 a day and slowly add up as you go. I probably average 500-1000 a day and i...

Does anyone here know much about MiFid 2 and the effects on the prop industry? From what I can see it is going to severely hurt strategies that require a high utilisation of margin (STIRs traders, large inter market spreaders). How do these "regulators" get away with it? Id like to think i will...

I dont see why you would want to be at a prop firm if you are trading longer term? It offers no advantage unless you have no money of your own? But prop firms want people to put money down anyway and they will leverage that money for you to give you bigger limits. If you have no money then...

Great topic for a thread. But it's a little bit confused some people are discussing 'is the bull market over?' To be honest if you're a trader you shouldn't really care, we are not 'buy and holders'. We are discussing trading as a profession and whether the golden days are gone. It's...

I do control risk. That isnt what this debate is about. The premise of this thread is risk management is an edge and that alone will make you profitable. That is the definition of an edge. And it isnt. If i showed you how to predict the next 4 ticks in the S&P with 80% accuracy you dont need a...

Hope it works out for you.

Go and run a back test

Not true again. Large firms are constrained by the strategies they can use with such huge capital bases. Smaller traders can be more nimble. I keep about £30k in my trading account and on a bad month will make £5-6k, on a good month £15k-£20k. I am at a prop firm so they give me added leverage...

No, i am saying i am so certain you are wrong i will double any investment you put in if you can prove you are right