Quote from R. Raskolnikov:
When I first started out trying to figure out how to trade the market my intention was to try and figure out a consistent approach that didn't just involve taking advantage of some inefficiency that could be arbed away or that a structural change wouldn't eliminate.
My premise about the mkts was that they present opportunities everyday and that it would present signals that would alert me to optimal situations. Only problem was.....I had no idea what to look for! I literally spent almost 2 years and 18 hrs a day working through charts, forming market relationships, tearing those relationships down and starting over, forming more, tearing more down etc etc etc. I did this enough and had enough screen time to where I figured out a structure by which the mkt operates by. Everyday is different but everyday is also the same with regards to the signals provided. I noticed that as long as I kept up with the action, I was able to find a trade or two a day that worked like clockwork. From there, my rule set grew.
I haven't changed anything with regards to the premise or rule set. Only thing I've changed is sizing up and refining the subjective exits. More experience, better exits during midday grind or during summer slow months etc.
So I guess to answer your question, I believe there are approaches out there that are meant to make money so long as an inefficiency or advantage exist (perhaps a prop firm has better routes to more liquidity). But if you approach learning how to read PA, I'm confident that if you do that well, you won't have to adapt to changing conditions. So long as humans are running the show (even the HFT programs), we should be ok. Artificial intelligence, well no idea about how that may change things.
