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Did HFT & Algos Ruin the Game?
- Thread starter New Jack City
- Start date
If one cannot turn a big profit with $10k he will have the same results with $1m. Besides, it's all about percentage returns on your trading stake not the size of it.
Quote from vicirek:
So you people are telling me that before HFT and Algo trading retail was always making money playing markets
Somehow this website has been infested with the idea that day trading is the only highly profitable form of trading when nothing can be further from the truth.
Nothing ALWAYS makes money in the markets. That's why we have the term drawdowns.
Now don't everybody all get their panties in a bunch at once. I'm not even IN the market. You know why? Because it's a big fucking con that is designed to siphon money away from small retail investors. Any one man who think he can get in the game with less than 1M and stand a chance against the armies of automated trading computers & insiders is a fool. Besides I don't consider being a 'trader' such a great thing. I would much rather have the respect and admiration of being a savvy INVESTOR instead of a market gambler.
I agree with most of your sentiment, the 1M isn't right though. You are totally correct that in general the purpose of wall street is to transfer money from main street to wall street endex.
Moving out timeframes to swing/position and choosing your battles with $10k and sensible MM is fine.