A good majority of PA trading teachers focus on the ES for new traders, so the education and edification of new traders regarding the hazards associated with the ES futures market with HFT and algorithms and subsequent financial and psychological damage should be ethically mandatory, do you not agree?
You mean a good majority of PA educators focus on stocks and then that's follow by futures.
Emini ES futures should
not be taught as a trading instrument to newbies as I first explained to you when you stated you were trading the Emini ES futures upon your arrival to this forum.
Further, as stated to you when you arrived to this forum...Emini ES futures is heavily discussed at trading forums mainly due to its liquidity, low margin requirements and marketing by many well known data vendors. Its the
primary reason why its so darn attractive as a trading instrument for new traders.
By the way, PA teachers marketing the Emini ES futures to newbies is just plain
wrong as earlier noted to you when you first arrived to this forum. Therefore, I do agree with that such results in subsequent financial and psychological damage. Yet, some do state for fact as one you're strongly familiar with about new traders...
you will lose money.
If the above isn't a strong enough warning...I don't know what kind'uv warning you need. Maybe someone knocking on your door with a baseball bat ???
The worst aspect of the above as noted earlier to you...no matter how many new traders come to this forum and are told the Emini ES futures is not a suitable trading instrument for new traders...
those traders continue trading it as if they'll find some secretive movement specific to the Emini ES futures. In fact, I specifically named a few newbies doing such and I informed you about a specific advice that I and many other veteran traders at this forum was stating...test their trade method on all available futures trading instruments to determine via the method results to determine which trading instrument is more suitable than the other trading instruments.
Why do they keep trading something not suitable for them ?
That's where the promotion of the Emini ES futures by other ET members comes into play...that popularity from other ET members gives them the illusion its the proper trading instrument for a newbie trader. Seriously, do you remember...I was one of the few that warned you about the Emini ES futures as a trading instrument for newbie traders while others were chimed in about how they trade it successfully...furthering the illusion its a proper trading instrument for newbie traders. Did you see any warnings or hazard statements from them ?
I also noted that the Emini ES futures is not a suitable trading instrument for low volatility trading environments. Low volatility has been getting more research lately as a time period with heavy HFT and algo involvement...I guess we got to wait a few more years after more research by those companies following trading habits by HFT and algos.
I just
don't agree that the real hazards of trading is due to HFT and algorithms nor do I agree that it has something to do with the 5min chart because PA trading teachers are low on the totem pole when it comes to education about the hazards of trading. The real hazards are due to lack of discipline, lack of risk management, abuse of margin/leverage, lack of diversification, lack of understanding that trading is a business and many other things.
That responsibility lays with the trader themselves, data vendors, brokerage firms, sites like stocktwits.com, stockcharts.com and so many others that promote TA, PA or FA and discussion forums. Those disclaimer statemenst about the hazards of trading should be at the top (not at the bottom) and required read via a "I Agree I Understand" button prior to being allow to use those resources.
*** Your attempt to pretend the primary source for the Emini ES futures has no responsibilities including yourself and it lays all on PA educators is
weird. ***
Seriously, when you signed up with CQG...did they inform you about the hazards of trading...was there any kind'uv a confirmation "I Agree I Understand" button when you decided to cough up your credit card number and use CQG ?
I ask because you can't trade the Emini ES via PA or TA unless you have access to charts and a brokerage account. They should be the first line of "warning" to you about hazards of trading.
Seriously, here's a very good question you need to think about very carefully. If you never used a PA teacher...who is responsible for you knowing about the hazards of trading, negative and positive impact of HFT and algos ?
Something to think about very carefully don't you think !!!
P.S. Both my kids play football. Its my responsibility to learn as much as possible about head injuries, concussions and long term effects of such. It was then my responsibility to inform my kids about such via videos and real life stories so that they fully understand the hazards of contact sports because head injuries is a big problem...not just football but in other contact sports like hockey, rugby, boxing and others.
No way in hell would I expect the coach to do such although I was pleasantly surprise that he handed out pamphlets to all parents about such along with national contact info for further info and explaining there will be a medical personnel on the sidelines that's trained in concussions and other types of injuries for all football games.
My point,
learn to be responsible because in a few more years on your own as a trader...you won't be able to keep blaming others for not informing you about hazards of trading. Thus, after all your complaints about HFT, Algos and PA teachers...your psychological and financial well being is solely your responsibility.
P.S.S. First game a kid on the team breaks his leg and is done for the season. It was my son's best friend. My son then made a comment...
nobody taught us about that.
