Every professional trader said market had changed dramatically over the years

[wrbtrader]

Of course the market keeps changing because technology keeps changing.

Anybody remember in the old days of logging into their broker and/or downloading data ?

How about trading on Windows 95 in which you needed to connect your phone line to a modem to get online ?

Our grandchildren will be trading from space in 100 years.

wrbtrader

 

[MKTrader]

You just do not understand trend following. Assuming things about trend following that are not true.

I guarantee I know much more about it than you, and have tested dozens of trend-following systems. You've failed to show the proof of it working that I've asked, and keep grasping for straws. Bye.

 

[deaddog]

Of course the market keeps changing because technology keeps changing.

Anybody remember in the old days of logging into their broker and/or downloading data ?


Our grandchildren will be trading from space in 100 years.

wrbtrader

I started before the internet. I logged into my broker on a land line.

But it was still an open auction market powered by fear and greed.

 

[smallfil]

I guarantee I know much more about it than you, and have tested dozens of trend-following systems. You've failed to show the proof of it working that I've asked, and keep grasping for straws. Bye.

Proof it plentiful but, you just ignore it. No matter. More for us.

 

[speedo]

Proof it plentiful but, you just ignore it. No matter. More for us.

No point in arguing about trading to someone who doesn't know how to trade. Just let him watch
his mutual fund.

 

[murray t turtle]

Every professional trader said market had changed dramatically over the years, what exactly are the changes? Does the old classic TA trading books still good learning tools? What content can be learn from and what are the parts that new traders should ignore?

%%
Good question Tjjj;
but ''drama.... ??'' NOT so much drama.
Plenty of things have changed + 200dma still helps.
Plenty of price+ volume changes on QQQ/past 20=/ years. I still have my charts where its priced @$30 area.
The original IBD founder quote was when everything was fractions =''don't quibble over a quarter + miss the move. '' [But fast forward to decimals + it still applies for good or any profits......................................................................................]

 

[777]

Every professional trader said market had changed dramatically over the years, what exactly are the changes? Does the old classic TA trading books still good learning tools? What content can be learn from and what are the parts that new traders should ignore?

Technological progress has crushed manual mom and pop day trsders. Also, edges end: Candy stores close.

Seventeen years ago I knew maybe 15 professional day traders making big money; now none have an edge and have moved on.

The largest trainer and backer of day trsders, Shoenfeld, closed this down many years ago. They are now a quant hedge fund.

Read Trader's of the New Era for an in depth answer:

 

[misterkel]

Nothing beats buy and hold over long periods if it is in a taxable account. Traders will protest, but exceptions don't change the reality.

If NOTHING beats b/h, then there are, by definition, NO exceptions.

 

[smallfil]

Technological progress has crushed manual mom and pop day trsders. Also, edges end: Candy stores close.

Seventeen years ago I knew maybe 15 professional day traders making big money; now none have an edge and have moved on.

The largest trainer and backer of day trsders, Shoenfeld, closed this down many years ago. They are now a quant hedge fund.

Read Trader's of the New Era for an in depth answer:

Day trading has the hamstring of the low float penny stocks. Those are what they trade. It is not scalable. You are essentially, trading against the so called stock market gurus like Timothy Sykes. That is more like pump and dump. Even hedge funds cannot easily deploy hundreds of millions of dollars. Still, those top traders in the Market Wizards book continue to make hundreds of millions, some billions, year after year. That does not happen by accident. "Important stat to note, 95% of traders fail and only 5% succeed in making serious monies in the stockmarket." Is it a wonder the same traders keep saying the market has changed a lot? They have not figured out how the stockmarket works even now!

 

[777]

Day trading has the hamstring of the low float penny stocks. Those are what they trade. It is not scalable. You are essentially, trading against the so called stock market gurus like Timothy Sykes. That is more like pump and dump. Even hedge funds cannot easily deploy hundreds of millions of dollars. Still, those top traders in the Market Wizards book continue to make hundreds of millions, some billions, year after year. That does not happen by accident. "Important stat to note, 95% of traders fail and only 5% succeed in making serious monies in the stockmarket." Is it a wonder the same traders keep saying the market has changed a lot? They have not figured out how the stockmarket works even now!

Far, far, far less than five percent make a good living.

Way back I was privy to the trading records of a name prop shop and was shocked at both the horrible results of the traders but also that all the office managers and most trainers owed the firm money. The very few Traders with edges who made strong money segregated themselves and stayed with the firm, with secret sweetheart deals, for misc reasons.

Now things are much tougher.