Did Altucher fail as a trader?

Quote from MarkBrown:

anyone bashing hft have no clue - the exchanges and the public are fortunate to have hft traders providing liquidity, tight spreads and providing support employment opportunities.

hft has also reduced transaction cost significantly for everyone and forced the improvement of infrastructure that otherwise would not have ever been upgraded if left to the exchanges decision.

why do people buy trading books anyway? there's nothing in them.

m

hft doesn't reduce transaction cost. it is at most neglible effect. hft bid and asks change the VWAP that is used by pension funds to be more expensive. so even thoughs the spreads are tighther, the stocks are more expensive. It cancels eachother out.

Ask yourself, do HFT play a zero-sum game, like daytraders?
 
Quote from MarkBrown:

anyone bashing hft have no clue - the exchanges and the public are fortunate to have hft traders providing liquidity, tight spreads and providing support employment opportunities.

hft has also reduced transaction cost significantly for everyone and forced the improvement of infrastructure that otherwise would not have ever been upgraded if left to the exchanges decision.

why do people buy trading books anyway? there's nothing in them.

m


...that's because failed traders blame "hft" for the reason why they're not successful....I never "got" the animosity towards hft
 
Quote from Ghost of Cutten:

My suggestions are this:

1. Ask if you have enough interest in markets and trading to go to a different timeframe. For example, swing trading, position trading, longer-term speculation, or investing.

2. If not, ask if you could work for a boss and do a regular job, given the likely pay from your skill set and experience.

3. If not, then look at some form of self-employed business. For example, in the post-bubble areas of the USA, you can buy entire houses for 30-40k and rent them out for 6-8k a year. If you no longer need your trading capital, you could make some pretty nice income just vulture investing on foreclosed real estate in places like Vegas, Phoenix, parts of Florida etc. Then after you get a bit of experience, sell "how to vulture invest in real estate" courses online or do seminars to bring in some extra income - compared to the snake oilers in that field, someone with actual experience and straight-talking could do well.

4. If you want to take a real punt, then move to some booming frontier market abroad, find out who the clued-up players are, bring in capital from USA, take a cut, invest some yourself, and retire in 10 years after a crazy and fun business expat adventure. Just remember not to blow all the dough on booze, toys, and women.

Then there's all kinds of opportunities with online business. Really, if you've kept your trading capital and your drive & initiative, then the world's your oyster. Someone with a bit of capital, some brains, hard-work and a can-do attitude will always be able to make a living.

thanks for the advice. Yeap, I started implementing swing trading strategies and dug out my old resume too, haha.
 
Quote from MarkBrown:

anyone bashing hft have no clue - the exchanges and the public are fortunate to have hft traders providing liquidity, tight spreads and providing support employment opportunities.

hft has also reduced transaction cost significantly for everyone and forced the improvement of infrastructure that otherwise would not have ever been upgraded if left to the exchanges decision.

why do people buy trading books anyway? there's nothing in them.

m

also to add,
Contrary to popular belief, a lot of algos have already been knocked out, especially in the small-mid cap space, it is a frigging desert out there. Liquidity in that space has utterly collapsed.
 
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