90% of ET hates emg for his preaching, but there is some truth in above post. In today's world (not 1980s and 1990s), higher education, good math and computer science skills are way more important because other participants (read HFTs) are way more sophisticated.
How comes that you are constantly bitching around about people lacking 'higher education' while your spelling abilities are reminiscent of a first grader's?
Do you honestly expect an intelligent person would keep writing posts where he sounds like a mentally ill parrot? Maybe he is/was successful--and his general premise on programming, math is right--but he completely undermines his argument with his blabber.
True. By his constant and unrestrained behavior, he fails to impress people. Rather he irritates people. He would have managed to cast a much finer impression had he been a bit more choosy and constrained. EMG - something to take note, I guess.
BS.it's pure technical advantage and have nothing to do with 'higher education".give me same feeds,infrastructure and comish,allow me submit subpenny and i will be on top as well.(i do have programming skills,if that make sense or counts as a higher education)
You raise good points and I do agree! EMG's contention (as I understand it) is that exposure to higher education encourages you to take a more statistical/mathematical approach to markets (of course you can also use all the discretionary and news analysis etc.). A highly educated person would also have good programming skills (in most of the cases). We can argue about the specifics but I don't think premise of EMG's reasoning is wrong. Programming skills are extremely important as you rightly said. EDIT: Also you are experienced trader of 10+ years, EMG point is more directed towards newbies who are starting in this atmosphere when HFT is the biggest market participant in terms of volume.
Moral of the story is, If you are a retail trader looking to scalp then forget about trading. I like to think that something will be done about HFT eventually especially if there is another large crash or market meltdown.
Headline is misleading. *Retail traders* are responsible for their own Profit & Loss. Just like every other trader, and every person who puts money on the line. I wouldn't agree that anything is "killing" retail traders except their own lack of sound methodology and capital, not even HFT. Has anyone else noticed the NYT has done farrrr left recently? not friendly to business.