I'd agree and say most daytraders are dying off from what I've seen. I mean when there is no volatility it drives daytarders away and there is always a lack of interest, but I think these times are different because of the HFT's frontrunning and insider trading. It has simply made a lot of traders who relied on the age old stepping stones of being quick to buy/sell figures and buying/selling in front of size simply redundant. You'd be surprised at how many scalpers relied entirely on these two ways to make money. They simply will never be back.
ROFL Say it isn't so! Now where am I going to get my weekly dose of daytraders are losers because brokers are shilling the naive for more commissions???
several reasons, I think, why day trading won't die: number of hedge funds are still growing fallout out of the bankruptcies of Wallstreet giants like Lehman Brothers, Bearstern, Merrill Lynch... a lot of know-how knowledge are still out there. more and more people follow the stock markets now aday. I bet you more people know who Ben Bernansky is than chancellor of Germany. the need for managing 401K, IRA accounts, annuity, 529 plan, perhaps privatizing social security...
its changing radically, but its far from dead. hERE IS AN answer to altucher's recent anti day trade rant: http://tinyurl.com/jamesdeepend altucher's rant here on elite FYI http://www.elitetrader.com/vb/showthread.php?s=&threadid=209907
Day trading isn't dying, its evolving and we have to change with it. This happens in every business, those who change with the environment flourish and those who resist change become dinosaurs, its called "survival of the fittest".
LOL yeah. The fittest are the HFT bots. Unless you're pushing around size positions and taking the risk, you should look for a new profession instead of daytrading.
Certain styles of trading may have gone out of favor, but trading as an art will always work. Your mindset and plays, unfortunately, must change with the market's psycho and dynamic. Most don't do it well nor quickly enough. You want to be a Big Time, consistent winner? Then you need to develop the tools which cannot be made irrelevant/wrong/obsolete... regardless of the changing environment. (I could "clue you in", but then I'd have to kill you.)