I've already been burned to a crisp.
I wouldn't do it again if I had the choice, but the past is the past.
Forward!
I've already been burned to a crisp.
I wouldn't do it again if I had the choice, but the past is the past.
Forward!
When you say, "And we have kept up on a daily basis.", what are you reading or researching to keep up.....any specific resources you could point me to?Please speak for yourself. This is such old news. The fact that you think you are in company speaks volumes to your self assessment. It is 2023 not 2003. Perhaps consider that you need to get educated before you enter the ThunderDome.
Those of us who have been trading pre internet, have read hundreds of books. Many still provide valuable background. And we have kept up on a daily basis. So consider your education level is grade school, and you are trying to work in a graduate level arena. That is a better assessment based on your comments like "casino". Log 3-4 thousand hours of education, and you will be at the end of the starting phase. The internet will help but it can be very superficial.
Best of luck and hoping you can take this constructively.
Are you a successful trader?If you wish to continue, you should try to meet someone who is successfully doing what you hope to do and seek advice and guidance. You may not be able to do this.
Most gurus-for-hire and people trying to sell you expensive products will be hustlers.
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Successful gambling and trading revolves around:
Edge
Risk Management
Opportunity Cost
Values
The Biggest Problem is that you probably will not be able to develop and maintain a worthwhile edge, AKA "positive expectation".
Adverse Selection of fills:
Algos are allowed to front run your orders by bidding 1/100th of a penny in front of your order. If their fills then "figure" to go against them, the algos then let you get filled, often dumping their stock on you.
The justification for the above is that the counterparty is getting price improvement, though to your detriment.
Adverse Selection on limit orders, along with the general efficiency of algos, are two of the many obstacles facing day traders.