Harsh? He'll thank me 6 months from now. I'm being as honest and forthright as I possibly can. I didn't say he could not make a living, but if I had to put money down on who will make more, the school teacher or the equity trader, I'll take the school teacher 7 days a week and twice on sunday.
You would have to close out your positions at the close. Can swing daily or intraday, not necissarily scalping for pennies, definitely not on the deal i have. Also, once everybody has a bot, wouldn't the bots lose their edge? Giving the edge back to real traders?
Again, what is your edge? Can you answer me this question? I'm not trying to be hard on you, but you have to bring SOMETHING to the table here. The bots won't lose their edge, the winner will be the ones willing to spend the most money and who have the lowest transaction costs.
I don't think you are being hard at all, its a good question. But I don't think i quite follow. There are plenty of good traders out there. I know Zanger is supposed to be doing well. What is their edge, besides following charts and cutting losses?
If you take tens of thousands of people and let them trade the high flyer stocks with maximum leverage, through pure chance and randomness, you will have a handful of Zangers as a result.
So what would you suggest the retail trader trade these days, assuming a person is going to trade, odds be damned?
A handful of Zangers who are profitably year in and year out? There will always be those who are a product of randomness, and others, who have proven consistency, that are a product of skill. I guess the real question isn't what MY edge is, but is there ANY edge at all? Does an edge exist? I don't need a list of profitable traders to tell me that, all I need is ONE. If there is ONE trader out there who can profit, not for a month, not for a year, but year in and year out. Beating the markets, beating the majority of all traders. If this trader exists, then that means there IS an edge. That its possible. And its not all random. The good news is, theres not one, but many many such traders, who have proven over time that this is not a random game. But for newbies like me, I have an idea of what this edge is, vaguely, I don't have it completely under my grasp, which is why chances are I won't be profitable in 6 months, a year, but as long as this "edge" EXISTS, I can be out there searching for it. Maybe I will never find it and end up a school teacher, but as long as its possible, I would like to give it a try. And if I never find it, it won't be because of randomness.
http://www.tradersnarrative.com/list-of-proprietary-trading-firms-735.html Send an email to every firm and see what they offer. Don't tell them the deal you have already been offered. You should be paying .005, down to .003 with volume. Some firms will pay your data feed as well.
Well, let's look at it this way. Let's assume for arguments sake that there is no edge anywhere, not in stocks, options, futures or FX. So given this setup, if one were forced to trade, what would be the optimal product? Well, it would have to be the most liquid product, with the lowest transaction cost, with the least amount of inside information and one that is not prone to unpredictable gaps that are out of our control. This leaves one answer, futures. Again, this is under the assumption that no edge exists anywhere. Futures have one tick spreads, very deep liquidity, very low transaction costs, and there really is no inside information on futures that one can use against you. Now if one actually believes they have some kind of edge, assuming the edge is either mechanical in nature or quantitative, then why not apply that edge to a product that has all the above attributes. This would be the "logical" solution.
HI MAV74 in reading your posts here, you feel that stock trading is not profitable anymore .. what markets do you trade & what is your style? maybe you can share with us what you feel is a better option for traders to consider. thanks,