i started 20 years ago, and there are just as many opportunities to earn as there was back then. those opportunities are different but at the end of the day, people are risk averse and will compensate you to take risk.
edge in the financial market is self-destructive and ai can't change that, I would suspect there will have a lot of blowout on a large scale if ai do take over
It's just a numbers game(duh). I suppose it comes down to how much you need to live on annually income-wise. If you're skilled enough to pull at least 10% from the market EVERY SINGLE YEAR,guaranteed, and you could "survive" on a Spartan annual income of 50k then you just need to maintain 500k buying power in your trading account.
I am having trouble figuring out how the chart will change. Could you perhaps draw some sort of mock-up of what you think a 1 minute chart would look like if all the trading is done by super computers? Right now its fairly clear, although after the fact of course, that there was a trend in the market and a certainly place where price didn't go beyond (the support and resistance you pointed out earlier). Will super computers and AI not respect levels? Will they push prices through them? If this is the case, won't we now as human traders be able to get in on this game once we see excessive moves? I understand that human traders working for firms might not be needed, or even humans that write code would also be out of a job, but a price chart will still be produced that shows the trades placed by AI and I fail to see how even if it looks different, human traders won't be able to participate. If the market like ES goes from 4000 to 3900 in the blink of an eye, and maybe back to 4000 again, won't we learn to just place limit orders at the extremes?
It's the fluctuations in income stream what makes it more difficult. When you are employee your employer takes away this risk by providing a fixed (but offcourse lower overall) income stream. The difference is the risk-premium for the employer /risk-taker. Freelance is a form in between.
We got like 25% of our GBP resting in banks & doing nothing. The real game is getting ones hands on it.
That's why I tried to highlight/emphasize MINIMUM 10% average pulled from the market. I realize that 10% number will fluctuate over say a 10 year span. (but it better not fluctuate too much to the downside)
It does not take $500K to generate $50K. In a perfect world, it would be nice but most people don't have accounts that large. For people starting with small accounts, there is the magic of compounding.
Which is why most can't make a living trading. Generating 20% for most is a pipe dream, but the anecdotal evidence of a person here or there making 50% every now and then surely pulls in all the lurkers...
It's a pipe dream because most people are lazy, they are not going to be consistent, they are not going to put in the work required to be successful, and they will ultimately give up and quit. But if they would get busy, then they don't need $500Ks to generate 50.