yes, I think there should be a nametag on every trade you make so we can see just what you are doing (and fade it). Every morning should be like the Oklahoma land grab where the man with the fastest wagon, horse, or high roller bicycle, or fastest computer should win. Now that's competition. You want us all to slow down so you can catch up? Or do you want us to slow down because it's just going too fast for you and you don't want to spend the money to compete? Fine, you tell us exactly how slow you want to trade and we will all obey your speed limit so you can "compete." (please try to keep your snarky reply to just a few words because I am a busy man and things are moving fast these days) otherwise, lowlifes that bitch view the market and the world as one piece of finite pie. To them it is all zero sum.
So some bullshit lowlife socialists want some of my profits. The public sector budgets total to more than half the GNP and those pieces of shit want more. The Fed owes $46 Trillion, way more than they can ever repay but they think I should give them some money. They might actually get me out to vote!
yes, but check out that zn. Almost everyday somebody is loaning them more money. They do still owe me some money, but I'll have to say this for the United States, they always pay their debts on time. As a matter of fact they are such a good credit risk that I'm about willing to loan them more at negative rates.
I think most dance around the real reasons most can't make it in day trading, it is called management. You have to have a business mind to do well. You either only know how to work for others, which we need to get products made and there are those who have needs to lead. If anyone was to open a factory to do recaps on car tires for instance and know nothing about the business. You might take a few years of researching how to make this factory, there is equipment, materials, building, electric, workers, EPA, etc....and just cause you have ten million to do so, you can't read a book and start pumping out tires on Monday, and yet I see over and over guys with $2500 opening an account and going to compete with those who breathe how ES moves. You meet guys who have spent thirty years at trying to "beat the market" and they have not realized it is not beating the market but learning about themselves on their short comings of emotions that is keeping them from keeping rules. I have guys come to me with $100k to start learning from me, and usually always the same, they think they need a lot of money and no, you won't be trading unless you can prove to yourself you can be profitable 18 or 20 days, and to take the $95,000 and take it out of the account for real estate rental houses, or other small business start up. People who know how to manage people start businesses cause they want people to not run out of doing work. But day trading students think doing some paper trading will be enough and it is not. Hardly any questions from looking at a chart to find signals, it is fine for understanding what to look, but management after you in a trade is where the money comes. Too many are lazy, they don't want to learn how to code, back test 3,000 sample size min.. Have good rules when not to take trades even when there is a signal, so this comes down to knowing price action, you have to know what are chances of price going to hold or keep going and what to do when it not working out, protective stops should not be hit all the time, too many see clear cut signs of price structure changing and go into "hope" mode instead of taking smaller loss. There is a great deal of study to become good at day trading, years. But the big money is still in long term trading or shorter term options. Especially retail, fees will eat you away in day trading. And why breakeven for me is plus one tick. Nothing is going to change, traders think highly of themselves but have not worked on self. Then there is screen time, no lie, I have over 80,000 hours in my life time, many days of working and trading 18 hour days/nights, you lose track of time, days, years, you think you doing to make money, but at some point money is secondary or almost worthless, it is becoming one with self, like Zen. To be able to do what most have not learn to accept. I still have plenty of life to live, more mountains to conquer, trading has allowed me to go any direction in life, in few years I be buying a farm, trading 75 minutes in morning and hopping on a tractor and getting me one of those John Deere caps.
"I would seek to impose a tax on harmful high-frequency trading, which makes markets less stable and less fair. And we need to reform stock market rules to ensure equal access to information, increase transparency and minimize conflicts of interest." I am not making 3000 trades per second. Big difference between HFT and a retail scalper.
HFT is only harmful to those traders with a trading style that's impacted by HFT or to those traders that consistently not able to adapt. At the same time, other traders benefit from HFT...a trader that is more profitable even though they are not doing any high frequency trading. Yeah, we do need to increase transparency and I keep hearing about the exchange and regulators working on such although I won't hold my breadth for such to be resolved anytime soon. Also, the consensus seems not to tax HFT firms. Instead, remove many or they key "special privileges" they receive that others do not have access to. Last of all, trading (including day trading) has been on the decline primarily due to economic conditions and key changes in the markets. For example, I remember when trading was on the rise (increasing) during the dot.com days. It was like the 60's in the markets. Then the bubble burst on those free spirit times in the market...wiped out a lot of traders and others just never returned. That was the most significant decline in trading that I saw. The next big declined occurred during the 2008 - 2009 financial collapse in global markets. It set many records in traders exodus of the markets along with the economic problems... It open the door for HFT because the big boys need to make a profit and HFT gave them a new tool for such. Simply, the big boys adapted to the problems around them...most of us retail traders have not. Why use a trading style (scalping) if that person is so afraid of HFT ? The answer is simple...traders not willing to adapt and they prefer to point fingers instead of pointing a finger at themselves for being stuck in that loop.
If HFTs essentially front run, then they are doing no one any good but themselves. I can see why they would like that, but why would anyone else? It's effectively a tax on non-HFTs. Also, and I am not all that familiar with this subject matter, my understanding is that they only offer liquidity when and where it is not really needed. When the shit hits the fan, however, it's every man for himself. I don't think non-HFTers have anything to be thankful for.
This talk of taxes on HFT trades is so lame. All the exchanges need to do is start charging for "excessive" cancels. That will curtail HFT significantly. But here we go again with the definitions: what is excessive ?