Algos ruined day trading

Discussion in 'Trading' started by qlai, Apr 10, 2019.

  1. ironchef

    ironchef

    Yes, in my next life I want to be a MM.
     
    #41     Apr 14, 2019
  2. using that logic you are saying the winners have the fast cables so if you dont have fast cables..automated colocated dma then u shouldnt trading. this wipes out 99% of your retail customer base. very good point indeed. thanks
     
    #42     Apr 14, 2019
  3. maxinger

    maxinger

    Not really. You don't really need super fast cable.
    You just need to enter early.

    Let me give example gold trading.

    Best time is buy gold in say 1970 and you would be earning billions of dollars.

    If you missed buying gold in 1970, that's ok as
    you could have bought gold in 2002 and you would still be earning millions of dollars.

    If you missed buying gold in 1970 and you went to buy gold in 2011, then
    you would be grinding your teeth in great pain.

    so having fast internet / cable is not really a prerequisite
     
    #43     Apr 14, 2019
  4. Correct me if I'm wrong, but I believe I heard Marty Schwartz said in one of his later interviews that he couldn't trade today's markets or at least not as profitably as he used to. He used to day trade S&P futures and very successfully.

    The market still moves from A to B - but perhaps the path from A to B has changed? I have followed ES futures on and off for around 10 years and I have the feeling that the market is more choppy and retraces more in later years. But I have no real proof of it, so I can't really say.

    As long as the market still moves and you're able to buy/sell (liquidity) - I can't see why day trading is ruined, but it sure might be a different market today than when Ned Davis was young.
     
    #44     Apr 14, 2019
    murray t turtle likes this.
  5. lmao. um. you must talking about physical gold and once you pull out storage insurance transport security cost over all those years which is called BASIS in the futures market then you lose and the broker is not talking about making trades for years at a time. i am dumbfounded if these people on here actually trade and scratch their heads when they LOSE. wow.
     
    #45     Apr 14, 2019
  6. %% HOW DARE you blame yourself?? LOL-LOL Charts help. I don't blame others also-its counter productive
     
    #46     Apr 14, 2019
  7. schweiz

    schweiz

    Money maker? :D
     
    #47     Apr 14, 2019
    ironchef likes this.
  8. ironchef

    ironchef

    No, I am already a money maker. Just that it is really really hard work. :banghead:

    I want to make some easy money, as the grass is always greener on the other side. :D
     
    #48     Apr 14, 2019
  9. MattZ

    MattZ Sponsor

    This is your logic.

    What I meant is that there was no time in history that someone did not have an advantage, yet, there are always great traders and investors who do not focus on what they do not have, instead what they do have and make the best out of it. For example, If you do have a model that requires automation and you do not have DMA+colocation+exchnage membership, yes, it would make it difficult to compete. On the other hand, if you do not, retail traders have (in my opinion) adequate routing technologies available to them.
     
    #49     Apr 14, 2019
    qlai likes this.
  10. schweiz

    schweiz

    If something gets ruined it is because at least 1 essential element is missing.
    That's so for anything you do in life.

    If your daytrading is ruined at least 1 essential element is missing. It can be anything, no necessarily algos. Markets became more professional and way of trading changed a lot when computers arrived, when the internet arrived, when commissions went lower due to competition, etc...
    20years ago almost nobody could daytrade because of the financial requirements, today even a bump can "daytrade" bitcoins as he has a mobile phone and can buy/sell 0.00001 bitcoin.
     
    #50     Apr 15, 2019