Grim future for day trading as a career

[Stewie]

and that they are exploiting one another at speeds and with information which prevents retail discretionary traders from being able to compete.

Disagree. If you see that the volatility is extreme, you can either stay out, or increase your stops. It also helps if you don't jump on every move once you see it moving because you think its about to take off, right before it slams right back down to hit your stop. If you see that you're always getting creamed in a certain way, use that as your edge and don't keep putting on these same type of trades.

Often when I see things pick up and its obviously algos doing their thing, I just sit back and wait. Doing this is a real edge.

 

[ETcallhome]

Disagree. If you see that the volatility is extreme, you can either stay out, or increase your stops. It also helps if you don't jump on every move once you see it moving because you think its about to take off, right before it slams right back down to hit your stop. If you see that you're always getting creamed in a certain way, use that as your edge and don't keep putting on these same type of trades.

Often when I see things pick up and its obviously algos doing their thing, I just sit back and wait. Doing this is a real edge.

yes, returns can be enhanced greatly if you can accurately predict the future

that's why when I see volatility is exreme I either stay out or increase my stops

my edge is knowing what the algos are doing

 

[wrbtrader]

...Institutional trading programs make profits from one another in a different way than the way retail makes profits, institutions will still compete once non-algorithmic retail (soon) is nonexistent in intraday trading, since there's a variety of timeframes the various institutions trade off of.

I've been seeing these types of messages by many others...since the bubble burst on the dot.com crazy market environment.

Then I saw it again during the 2008 - 2009 financial fiasco.

Now I'm seeing it again with all the "pending FED rate hike" stuff the past three months (you arrived here in September).

Guess what, those day traders that are understand the word adapt and take action to do so...we'll still be here for the next doom/gloom times.

I think its time for you to stop day trading, cancel your CQG monthly subscription and move on to something else. Seriously, why keep at it if your so convince that its hopeless ???

 

[d08]

yes, it may seem that way, but to actually believe that, you also have to believe that everybody who gets elected must be even more evil than you.

Or practical and careless and I definitely believe they are. People are extremely naive when they talk about real politics in such straightforward ways not realizing that most politicians are bought and sold, all their personal convictions are a distant second priority.

 

[ETcallhome]

Or practical and careless and I definitely believe they are. People are extremely naive when they talk about real politics in such straightforward ways not realizing that most politicians are bought and sold, all their personal convictions are a distant second priority.

well they must travel in different circles than I do. Because everybody I meet and talk to on the internet is pretty much just like me, and I aint that bad!

 

[Q3D]

http://wap.engadget.com/2015/12/09/google-we-have-proof-that-our-quantum-computer-really-works/

The company recently tested the new QA algorithm in a proof-of-concept trial against conventional systems running the simulated annealing and monte carlo methods. The results are more than impressive. Google's method beat out the other two quite handily, solving a function with 1000 binary variables up to 100 million times faster.

 

[Frederick Foresight]

http://wap.engadget.com/2015/12/09/google-we-have-proof-that-our-quantum-computer-really-works/

The company recently tested the new QA algorithm in a proof-of-concept trial against conventional systems running the simulated annealing and monte carlo methods. The results are more than impressive. Google's method beat out the other two quite handily, solving a function with 1000 binary variables up to 100 million times faster.

HFTs can have all the processing horsepower they want, and speed can be their edge. But they shouldn't have preferential access to exchange data.

 

[wrbtrader]

yes, returns can be enhanced greatly if you can accurately predict the future

that's why when I see volatility is exreme I either stay out or increase my stops

my edge is knowing what the algos are doing

On the flip side...some of us love volatility.

 

[syswizard]

But they shouldn't have preferential access to exchange data.

You can just rent a co-located server housed near one of the exchanges. That pretty much eliminates their speed advantage over your workstation.

 

[lawrence-lugar]

Day trading is an awesome hobby and way to make $$ as a retail trader. However, to make a living with it is near impossible today--- for the non-wealthy or otherwise financially supported person---

Day trading stock in the traditional sense where you scalp for pennies, so to speak...or tiny percentages,...then yes, it's kind of impossible to make a living unless you have a rather huge account.
But there are certainly other ways.
you should watch: How Wall Street Works