Grim future for day trading as a career

Q3D,

Take a break from trading...you're getting more lost especially with your growing obsession with algorithms. Seriously, its not the end of the world and nobody is forcing you to continue trading markets you think are impossible to trade.

Have you tried forex trading considering the statistics show it is a growing market (not on the decline) and becoming more popular for day trading ???

Stocks and futures are small in comparison to the FX markets

Warning, there's also a greater high frequency trading trading in FX markets but that has not put in enough fear to slow down its fast growth. Also, most of the stories I've been hearing about retail traders getting involved in algorithm trading...most of those stories involves the FX markets.
 
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Q3D said:
Lack of range is not the only issue making discretionary day traders' impending extinction imminent. On CL futures there is often a very large range, but very few DDTs can capture this range due to the price action coming closer to brownian motion than ever before at the 1 second-15 minute level. A 40 point move on a 15 second chart can retrace itself 30 seconds later, leaving DDTs dazed and confused and with blown accounts.

The dearth of DDTs capturing much of CL's range on trading sites like Stocktwits or journals here speaks for itself. Most of the anecdotal reports of success are from more wealthy swing traders who can afford to take on the greater risk caused by the algorithms while avoiding the apparent brownian motion of intraday PA at < 15 min level and following higher time frame charts which (for now) have less of a resemblance to brownian motion.
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If you truly believe you can't do something, you're probably right.
 
Q3D said:
Lack of range is not the only issue making discretionary day traders' impending extinction imminent. On CL futures there is often a very large range, but very few DDTs can capture this range due to the price action coming closer to brownian motion than ever before at the 1 second-15 minute level. A 40 point move on a 15 second chart can retrace itself 30 seconds later, leaving DDTs dazed and confused and with blown accounts.

The dearth of DDTs capturing much of CL's range on trading sites like Stocktwits or journals here speaks for itself. Most of the anecdotal reports of success are from more wealthy swing traders who can afford to take on the greater risk caused by the algorithms while avoiding the apparent brownian motion of intraday PA at < 15 min level and following higher time frame charts which (for now) have less of a resemblance to brownian motion.
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Who's fault is it you can't trade now? No mention of Al Brooks, big Mike, or don Miller... BROWNIAN MOVEMENT??? Sorry but your posts keep getting stranger.
 
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The discretionary day-trader is approaching death. HFT increases market efficiency. Quantum computers will only increase market efficiency further. How will future traders who follow in the primitive ways of Al Brooks and Don Miller make careers as traders in a nearly 100% efficient market in the future?
 
Q3D said:
The discretionary day-trader is approaching death. HFT increases market efficiency. Quantum computers will only increase market efficiency further. How will future traders who follow in the primitive ways of Al Brooks and Don Miller make careers as traders in a nearly 100% efficient market in the future?
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Q3D,

I hope technology makes quantum leaps because that also implies we'll too have access to new technology for our personal lives and for our careers. Its all good at the end of the day for those willing to except it and adapt with it.

With that said, this forum has well documented many others like you (doom/gloom traders) over the years and yet day trading is still alive although some sub groups of it is on the decline but will never die.

I truly hope you can find a way to move on to something else that helps you grow as a person to outweigh your negative experiences in the markets because one day your very life may be dependent upon you finding a path out of your darkness considering several traders (including myself) have specifically outlined to you ways to adapt in the growing environment of algorithms instead of waiting for regulators or congress to get involved.

You gotta stay positive, grow, embrace and adapt because the markets are always changing.

The markets (those that adapted) will take your money and all of it if it can especially when it smells a road kill. Simply, I truly hope you're no longer trading with your dark attitude because it obviously is not a positive thing in your life. Actually, its painful to see traders like you and hopefully you're not as such in your personal life because of your bad experiences in trading. Thus, I will now assume you're probably just here for academic reasons, boredom or just trying to figure out how you screwed up this thing called trading while you find something else to do in life that's more positive for you.

Whatever the reason you're still hanging out at different trading forums, discretionary trading (speculation) and any other type of trading will be here as long as there are markets. I know such because the first doom/gloom people I read about like you was in a documentary about the stock market crash of 1929.

Yet, after all the market crashes, we are still here and its now 2015 (fast approaching 2016) and there's still a market full of discretionary traders just like there will always be people that will invest their own money in the markets. ;)
 
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Q3D said:
Your positivity is like dancing and celebrating at a funeral, highly illogical.
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You're still here posting for whatever reasons. Thus, you ain't dead.

Yet, if/when that day arrives that you call it quits...do not feel bad because most traders do not make it and hopefully you do not allow any of that negativity from trading to show up in your personal life.

No celebration...just real life advice so that you understand never to underestimate the psychology of trading. It can be a light for some and dark for others.

I grew up with a personal closeness (family) with the markets from a young age. Thus, I've seen its ugliness and its beauty. If it's ugly to you...get out while you can. If its a thing of beauty...enjoy it while it lasts because there's no guarantee for further success.

Regardless, the markets will still be here long after you and I are buried or turned to ash. Therefore, traders will still be here and that's the way its been since the 17th century and there's been a ton of technological changes since the 17th century.
 
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wrbtrader said:
You're still here posting for whatever reasons. Thus, you ain't dead.

Yet, if/when that day arrives that you call it quits...do not feel bad because most traders do not make it and hopefully you do not allow any of that negativity from trading to show up in your personal life.

No celebration...just real life advice so that you understand never to underestimate the psychology of trading. It can be a light for some and dark for others.

I grew up with a personal closeness (family) with the markets from a young age. Thus, I've seen its ugliness and its beauty. If it's ugly to you...get out while you can. If its a thing of beauty...enjoy it while it lasts because there's no guarantee for further success.

Regardless, the markets will still be here long after you and I are buried or turned to ash. Therefore, traders will still be here and that's the way its been since the 17th century and there's been a ton of technological changes since the 17th century.
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Way too much good logic here wrb... No way to convince a person who knows everything. I've seen a few of these know it all types roaming around here lately.
 
marketsurfer said:
Prop firm traders can and do definitely make a career. My contention is that DIY at home retail careerers dont really exist unless they are wealthy to begin with or have another passive source of income.

After 10 years of trying to meet one and not suceeding is a huge tell that its all fantasy.
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Damn, how will i spend all this fantasy money from day trading in my fantasy house?
 
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