Chinese daytraders: game changer?

Discussion in 'Wall St. News' started by Picaso, Dec 9, 2010.

  1. Samsara

    Samsara

    Those prop shops thrived on the churn and burn model, which is barely survivable. It's a shame they're not diversifying their strategies. I guess if you're a bottom feeder, go where the bottom to feed from has the cheapest overhead.

    I'm surprised they're offering a cut and not a base salary in rmb, which would probably be a better trade-off if their strategies had up-side. Just goes to show that a lot of these Chinese traders are probably not even making gross.

    As far as being a game changer, naw. Not in churn and burn. These traders don't know anything about U.S. markets or the companies they're trading. They're probably obsolete as targets for short-term algos meant to push around weak hands.
     
    #11     Dec 17, 2010
  2. a sw trader
    one day
     
    #12     Dec 20, 2010
  3. jinxu

    jinxu

    I might as well spend my 270th post on you.

    Who said you need to know anything about the market to trade it profitably. That's the sign of the clueless.
     
    #13     Dec 21, 2010