Is this silly or what. am I supposed to help an automator to put me out of work?

[Don Bright]

Quote from ElectricSavant:

I have bit my tongue long enough. I treat my RETAIL TRADING as a business. I trade RETAIL SPOT FOREX.



I have to disagree. I have a job, I am a Retail Trader.

retail trading is not a job.

Even though I do make a distinction between retail and prop trading, it's primarily due to licensing requirements. All hedge funds are "retail" and I'm pretty sure that the hundreds of guys who work at Amaranth think they are going to be losing those jobs soon (it really is too bad).

So, I have to go along with Mr. Savant on this one... retail trading can certainly be a job...many hire others to work for them as well.

My 1.5 cents...

Don

 

[Nattdog]

still not a job in my book.

in my book a job is,

"a specific piece of work required to be done as a duty or for a specific fee"


You are either a speculator or a gambler.

I meant this as no insult, regardless. Many, perhaps most, would choose to work without contractual obligations of a "job" if they found it possible.

The banks are market makers. the big traders take big macro swings. your broker makes your spread. Not sure where the "job" is for retail... Who is paying you? U try to take it from some other retail guy? Then u are a sportsman.. but still no job.

If u have managed to make your monthly nut trading retail forex,

i tip my hat to you.

 

[midlifeguy]

Don
I was on the buyside and squeezed out due to algorithms. Don't you think the days of buyside traders and retail traders are done? I expect 90 percent of those jobs will vanish. I would even bet that the people on the floor will be gone.
thoughts? I feel rather screwed over as I spent alot of years working as a trader and now am left out in the cold. The bright spot is that I can trade my own account but obviously there are disadvantages like no health insurance etc.
TIM

Quote from Don Bright:

Even though I do make a distinction between retail and prop trading, it's primarily due to licensing requirements. All hedge funds are "retail" and I'm pretty sure that the hundreds of guys who work at Amaranth think they are going to be losing those jobs soon (it really is too bad).

So, I have to go along with Mr. Savant on this one... retail trading can certainly be a job...many hire others to work for them as well.

My 1.5 cents...

Don

 

[giggollo]

Automation is replacing human workers in many fields, and trading is no different

 

[RedDuke]

Until artificial intelligence is invented, automation will not be able to kill trading niche. Yes some little edges are gone with automation (machine can trade within bid/ask faster than any human, for example), but every algorithm is written by humans, so it really makes no difference.

 

[MaxLD]

Quote from giggollo:

Automation is replacing human workers in many fields, and trading is no different

Automation will never replace me! Who would ever invent a machine that did absolutely nothing

In all seriousness, I don't think that I "worked" a day in my life. I've been lucky enough to do what I loved and often shook my head at the realization that "They're actually paying me MONEY to DO this!" Drawing an income from your efforts doesn't always have to be viewed as work. So it is now with my trading. You just gotta be flexible enough to accommodate to the NEW, whatever direction that will take us.

 

[walterjennings]

Yup. I'm coming. You better watch out

But of course there will always be a place for retail traders. Someone has to lose money to the computers right?

 

[traderdragon2]

Computers have just about taken over the chess world. Trading is easier than chess.

 

[MaxLD]

Quote from traderdragon2:

Computers have just about taken over the chess world. Trading is easier than chess.

It's funny that you should bring that up. I thought I was a fairly decent chess player until I played the chess game on my new iMac. I haven't beaten the computer yet. Thankfully trading IS easier than chess.

 

[whitster]

i'll go a step further.

retail trading is more than a job. it is a profession. or it SHOULD be, and those who treat it as such are much more likely to be in the small group that makes a living out of it.

it is one where the perceived costs of entry are swimmingly low - a computer, an internet connection, and a 2k trading account (minimum to trade futures), but where the actual realized costs are usually a bit more (trading losses), as one learns how to trade.

it is a CAREER.

professionals take money from hobbyists.

there are all sorts of way to move from hobbyist to professional, but the first step is MINDSET. treat it like a business. do your homework, develop STRICT trading rules, write a trading manual. log all trades. etc.