For the small trader, things are much better. Trading costs were hopelessly large even until the 2000s. People would probably have laughed at IB and LT's fees back then as a scam or impossible. Now, it's expected. As for edge, in my analysis, I have to agree with Livermore: there's nothing new in Wall St. The old tricks are the best tricks.
I agree with you. I laughed at all the early people trading forex in beginning of "NO COMMISSION" and yet they couldn't see that 3 pips cost more than futures and fees? Gullible Americans, only in this country you can sell pet rocks, beanie babies, stupid watches, empty beer cans, and trade at Starbucks sipping coffee making more than all those people who serve you. The 1950s were a grand time as people had Mom at home, made enough money for middle class where they went on vacations and drove classic cars made of American steel. You buy something and it lasted decades, now you hoping it lasts a month.
I laugh at those who (living in denial) think things were made better in the past. Ring jobs, tuneups, greasing axles, flat tires and so so many other components that didn't even last till the 1-3 year warranty ran out fahrgetaboutit
Clothes were made much better than crap from China, food was much better without anti-botics and hormones, a tomato actually tasted great, bread last maybe 5 days cause didn't have all the preservatives. You talking about one industry like "FORD"=Fix Or Repair Daily, way of life was slower, didn't have cities like Chicago killing each other 35 a week. They made bridges to last unlike the bridge in Florida couldn't last one day?
nobody dumps a trade of this size on the open market. you would get a very unpleasant phone call from regulators. big institutional brokers like GS would be more than happy to take the position off your hands quietly in a basis trade. for a fee of course.