There's always going to be inherent risks. -- People around here say it like it's necessarily automatically a bad thing that should be avoided at all costs. With risks, generally comes the Reward...the part we all should be focusing for, and aiming for, and studying for, is trying to Improve that Scenario and odds and skill...not running away from it. Risk managers and advocates should work in the longer term, retirement sector -- instead of talking about trading. It doesn't take a genius to buy 100 stocks, and hold them for eternity. You can't get hurt, but you also can't win. High Five's all-around, ET extraterrestrials
Hey - dude from Milan -I traveled from Hawaii to spend a summer in Intra by the lake- just a hop from Milan. All expenses paid trip from an Internet stock tip I gave a friend, just good luck really (ELNK $20 -$140 in a few months). What a beautiful place - great people, food, festivities! Italy was a blast. I never drove so fast in my life.
I agree with you Xena that goals are at best troublesome , but I don't agree about risk management , to me , 99% of trading is about having edge ( or probability as I would call it), most traders will make thousands of trades in their career ,some riskier than others , but if they have a strong edge there arn't too many scenarios where they don't end up ahead ( with perhaps the exception of all in suicidal strategies), and of course,even with the very best money management in the world there are virtually no circumstances where one ends up ahead in the end if you don't have an edge/ probability in your favour.
In response to Schwiez , I did suggest/ imply in my post that the higher frequency would be smaller in size or time , thus reducing per trade risk.
If being an excellent English speaker insured being an excellent trader, I guess every trader would be taking many classes to improve their trading results that's not being the case, and your goal being to get your trading million profits, just use google translate!!! Do not waste time. Asperger Syndrome, bla bla bla syndrome , etc : these are not barriers to profitable trading. You can't use this for an escuse. Now, your goal : first thing is to make it clear that as soon as you reach it, you do quit trading at least enough time to review all your trading and work on points identified to improve. Take at least one year off, as reaching your goal will get "greed" quick in. As you think in terms of end goals, you need to keep a very close eye on the "greed". What you are aiming for is to force the "good luck" enough to reach it. So one way, is to list what you can do to trade when you can maximize your "good luck". Get reassured : it can be done, as it has already been done.
Italianyish might be better off having the goal of a reliable edge rather than rather arbitrary financial ones.
If your goal is market-making similar to how current high-frequency trading firms operate, then routing orders through your broker API will never help you achieve that dream. That is a hard fact. Use your passion for the markets to do more research and reading before committing any funds with brokers.
Quiet guys, i take the risk seriously. During daytrading the market can do -30% which does not lose money since the system will open trade short 50% and 50% long on various stocks. On the contrary, i also have a system ready to enter short on index futures if there was a sharp drop in markets. If I was on the markets during flash crashing i would have made good money. On November 20 the games will begin.
Milan has little sociable people. They don't even talk to their neighbours. You should go to Rome to see the Romans! The beautiful places of Italy are Trentino Alto Adige, Toscana, Lazio, Umbria, Puglia, Calabria. I'm not going to trade high frequency trading at extreme speed. I know there are market making strategies at 2/3 minutes. Obviously, the higher the frequency the better. I do not want to trade arbitrage, no can not compete with dedicated fiber connections, microwave and laser. The world of futures is more accessible, with a few dollars a month you can have your own server at the Chicago Merchant Exchange(aurora). Even in Italy there are brokers that allow you to put servers on Equinix. Obviously at much higher prices.