Is manual day trading dead?

[Trading Education Buyer]

If you rely on little free money edges in the market that were there 10 years ago, no they aren't there anymore, algos automated all that stuff. But at the end up the day markets still go up and down and as long as they do you there will always be money to be made manual or otherwise. Im trading entirely differently to what i was even 2 years ago, just got to keep looking where other people arent.

This is a delusion IMHO.There are edges which can not be destroyed by algo.I trade them succesfully.

 

[tommo]

This is a delusion IMHO.There are edges which can not be destroyed by algo.I trade them succesfully.

Where did i say all edges can be destroyed by algos? I still make money trading manually.

I said the free money edges of the past have been killed off by algos.
10 years ago you could buy the same product on different exchanges 5 ticks below the bid.
You could leg into cals via outrights that were trading 8 ticks below the exchange driven market.
If paper came in and wanted to buy 5000 eurostoxx he would just sit on the bid and you could buy in front of him for 15-20 mins. etc etc

When i started prop trading 11 years or so ago thats how we all made money and all that stuff is automated now

 

[learner2007]

I know everything , I know it all , I can teach you ,you can have endless discussions with me on trading .

Can you imagine having this guy as a cellmate?

 

[Trading Education Buyer]

Don't you guys think , it is possible to make 50 points a week average , day trading on dax futures?It can also be done using weekly options ???

How easy or difficult would it be?

 

[speedo]

Can you imagine having this guy as a cellmate?

He wouldn't last long.

 

[777]

Lol, do you really believe a retail trader that barely graduated from the local community college, with a 5k accout (or even worst, 2k accout with a spread betting bucket shop), paying retail commissions and slippage, without access to the OTC market, have no clue on real Math and can't even write down a quantum equation can mimic Renaissance's performance ?

Retail day trader = best customer to the broker or bucket shop but unfortunately none of them last very long, need to continue look for new replacement.

Of course not!

I was replying to a poster who seemed to think automated trading was a dream that had not stood the test of time, so I was giving an examole of a well known firm that shows this is not true .

I could have talked about a small number of people almost no one has heard of- who are independent of each other- who have made a big, big living for over 10 years by automated trading.

However, I thought it best to use an example that can not be disputed. An example of a world beating legend.

Thank you for your thoights.

 

[777]

Don't you guys think , it is possible to make 50 points a week average , day trading on dax futures?It can also be done using weekly options ???

How easy or difficult would it be?

Very few people can never do this because they do not have an edge- they do not have the odds in their favor

Certainly many Elitetrader posters will have to fade an information disadvantage plus trading costs that are larger than they really understand.

What would be your advantage over the market and trading costs?

You need:

1 A worthwhile edge

2 Enough money and proper support to exploit your edge

3 Strog risk management

 

[profitlocker]

I'm 100% convinced that manual scalping is dead, but not manual trading. Manual and automation are just methods of trade management. One thing I can say based on experience, is that without a thorough understanding of time series analysis, statistics/probabilities, and volatility you'll be fucked using manual or automated execution. The markets are no place for the lazy, dumb, or dreamers.

"The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor." - Jesse Livermore

 

[777]

I'm 100% convinced that manual scalping is dead, but not manual trading. Manual and automation are just methods of trade management. One thing I can say based on experience, is that without a thorough understanding of time series analysis, statistics/probabilities, and volatility you'll be fucked using manual or automated execution. The markets are no place for the lazy, dumb, or dreamers.

"The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor." - Jesse Livermore

So true

Livermore made many valuable observations about trading and life

He also died broke and depressed after numerous boom and bust cycles

He knew what he spoke of very well

 

[Trading Education Buyer]

All the winners , profitable traders , professional traders , new retail traders can do it , with my price action knowledge .Only I have that knowledge.

I am trying to ramp up , pump and dump , price action courses 4 u guys , you will make money with it .