you're not the only one who's thought of it, you just haven't found a way to make it profitable on a daily basis because you're only 1 person.
i know a person that with very simple variables, (for example, daily range) has a completely random strategy that simply provides liquidity across hundreds of nyse issues.
obviously its automated. and if you stop to think why this should make any money, try explaining to a guy trading another market what a rebate is, and he'll honestly think you're lying.
WHY SHOULD YOU LOSE MONEY FOR MANAGING RISK? if anything if you manage the range of a stock, the risk/reward of the play is inline with your overall money management (this is probably the hardest thing to do without a bot, aside from the actual mechanics of the trades), is there even a reason for why you should actually LOSE money? if anything, you should breakeven on a gross basis. now if you have some absurd inefficiency that you can exploit by not hitting out more often than not, well...there you go, now this magical creature called an ecn that almost everyone in another market is amazed to hear about (really, i tried explaining how my comms in stocks actually had a positive balance without me even trying to rebate to few guys at a shop in a different market...couldn't believe it), now you should probably make a few pennies right?
and who would be paying you? people who aren't taking advantage of this inefficiency. people who are trying to pick a direction and don't have an edge. ect ect ect.
i know a person that with very simple variables, (for example, daily range) has a completely random strategy that simply provides liquidity across hundreds of nyse issues.
obviously its automated. and if you stop to think why this should make any money, try explaining to a guy trading another market what a rebate is, and he'll honestly think you're lying.
WHY SHOULD YOU LOSE MONEY FOR MANAGING RISK? if anything if you manage the range of a stock, the risk/reward of the play is inline with your overall money management (this is probably the hardest thing to do without a bot, aside from the actual mechanics of the trades), is there even a reason for why you should actually LOSE money? if anything, you should breakeven on a gross basis. now if you have some absurd inefficiency that you can exploit by not hitting out more often than not, well...there you go, now this magical creature called an ecn that almost everyone in another market is amazed to hear about (really, i tried explaining how my comms in stocks actually had a positive balance without me even trying to rebate to few guys at a shop in a different market...couldn't believe it), now you should probably make a few pennies right?
and who would be paying you? people who aren't taking advantage of this inefficiency. people who are trying to pick a direction and don't have an edge. ect ect ect.