Was there back in the SOES days. One has to adapt to conditions. If you don't then you lose. Maybe it's tougher for some than a decade ago but for me it's easier to make $$$$. I suspect it's because I evolved as a trader.
I've been trading since the 70's using a Quotron machine and direct line to Smith Barney Harris Upham (red phone,no BS). Trading has changed quite a bit, mainly related to the tools a trader has. Has this helped produce more successful traders? Not a chance... If you make it easier for a sucker to lose his money, he'll just lose it faster. As far as ET, this joint has definately died down. The likely result of blown out accounts and an economy that can't reload them or produce new ones. Rennick Greenspan out
I run a day trader group on facebook with 970 members, but only about 3 to 5 of those members post daily, and the rest I never hear from. Is trading dying down?... yes. At least for the retail side. For people that arnt making a living from trading, figure they need that money for savings and other needed expenses..NOT for trying their luck in the markets. I think it will pick up in a few yrs though. kon
From Cdntrader "This is the best market in years! YEARS!!" Yes it is a great market, love the returns! GS
Posts are decreasing. Reasons? 1. Daytrading is now officially UNCOOL. If you lose, then youre a slacker bum in your mothers basement. 2. If you win, then youre a parasite that thrives off the misery of others. 3. HFT has caused a widening of timeframes. 4. People do not understand the price/volume relationship. 5. ET is like a high school or college. After you graduate, you may hang out to see the new faces, but there is really not much to say because you have "been there, done that". 6. ET has done a poor job at controlling trolls. ( They have gotten better as of late, though) I see a lot of former ET folks from waaay back at Traders Lab. Not necessarily better, just different. My first alias joined in 2003, right hypo? I mean right Duref? I mean....Art Deco knows what I mean.
It's just a matter of risk/reward. As it kept getting worse and worse, traders kept dropping out. Some by choice, most not by choice. At a certain point it is not worth adapting, better opportunities elsewhere. Many simply did not have the resources to adapt. It's a matter of perspective, nothing more. If you started out back in SOES days, I'm surprised you're not retired by now.
What would I do if I quit? I still enjoy trading and 3 days/week during the school year I volunteer and do math tutoring with kids in a very poor school. So I have cut back but I have also found how totally screwed up health care is and even if you're healthy, work out and eat well that even minor procedures can add up to a lot of $$$. Health care costs are the only expense I underestimated when I left my job back in the mid 90's.