I've seen the same thing. A lot of good talent has been driven away here. Its sad. Need to clean this garbage up.Quote from konviction:
I've been on here sinse 2004 under a different name at the time, and I've also noticed the decline as well. In some ways its not that bad really. The ones that can trade, and the ones that employed proper MM such as myself, are the ones that have stuck around.
It's kind of nice actually to not see the same damn threads pop up every week, and listen to all the amatures talk trash and ruin good threads. On the other hand, I've made friends with some members here that are no longer around or very rarely post. Traders have a sport life span in deed. Take our newest member "bambamw", and a few other new members...track them for 6months to a year. If they're still posting on ET, maybe they have what it takes
kon
Is Trading Dying Out?
- Thread starter MarketOwl
- Start date
Regulation will also change in the next 10yrs. In the eyes of congress, the investing public "retail traders included" have priority over black box trading. At least I would hope so. Didnt they talk about banning flash trading?
One of the things I liked before about Elitetrader was that you could gauge the sentiment of the crowd by looking at the forums. But now, with the fewer posts, it is hard to tell.
Also, all the stocks and commodities seem to move together, hard to find alpha in this market. For example, the correlation between stocks and crude oil is obscene, more than anytime I've ever seen.
Also, all the stocks and commodities seem to move together, hard to find alpha in this market. For example, the correlation between stocks and crude oil is obscene, more than anytime I've ever seen.
I discovered that Nbates is an anagram of 'absent' and now with a few clicks you are.
I really don't think it's tougher today. I started in 1996. Back then we had 1/8 and even 1/4 spreads. Commissions were $25 each way minimum. More with ISLD, INCA, other ECN charges. If I made a teenie on 1000 I netted about $10. Today I'd net closer to $50 on the same trade. Commissions today are minimal, next to nothing.
Sure, I've learned a lot in that time which has helped me. But if one is willing to adapt to what's facing them they can continue to succeed as a trader. Some burn out. Others aren't motivated enough. Still others never had adequate trading capital. Many reasons people leave trading.
Been on ET since 03. Used to be very active here, especially in the days of the real-time trading chat room. I've been a full time independent futures trader since 04. Trading itself is not any different today. You either have a profitable system, methodology, and/or technique or you don't. If you don't, you adjust an existing, or develop or find a new one... else you're gone. Armed with tomorrows financial news today, 8 of 10 would loose money. That does not mean the remaining 2 are outliers. They are just the remaining.
Most of my old chat-room "trading buds" are gone. But ET has not changed... Experienced or otherwise knowledgeable been-there traders have no need for hostile questioning, attacks, or spurns by the ever rotating wide-eyed, open-mouthed know-nothing newbies more interested in being right than in trading for profit.
This is who I am. This is what I do... if ET had more members who actually owned that statement, threads with titles like "Is trading dying" would seldom be seen.
Quote from themickey:
I've got around this issue by trading a longer time frame.
My theory is, shorter the time frame, more noise (HFT) more commissions relative to return, more energy expended, more frequent slippage, more stress etc.
I've gone longer term to decrease the energy i expend and the commissions I pay. I'm not into being an adrenalin junky either.
Same here. Longer timeframe has been a godsend for my trading style, personality, and sanity.
Then again, I'm only making 2-3 trades/day now, and refined my trading style significantly compared to 3 years ago when I'm embarassed to say how many contracts I moved each day as a newbie. Speaking of 'noise' I have learned to deal with it and not suddenly panic and exit at a loss if I get caught in the noise --- THAT was a very hard lesson to learn!!! I'm much happier with my trading this past few months, even if my broker isn't. As to not posting here as frequently, I haven't come across much that I felt I had to comment on! As to online interaction w/other traders, the only trading venue I am active in is the one trading room I've been in for the past 3 years...heck, I have a "trading" Twitter account but it's only for lurking -- I rarely post stuff to it.
Not sure how you trade but it's very obvious from this comment that you never focused on edges that existed throughout the years, starting with SOES bandits. Bullets, rebate trading, CHX arbs, conversions, tape reading, etc., none of these edges exist anymore and there is nothing even comparable unless you are major bank running HFT.
With any market where there are significant opportunities and edges, expect high commission costs. Because likely there is little trader competition, hence little pressure on commissions.