If as time goes on the markets become more efficient, what does that mean for the trader? Efficiency meaning that finding a profitable edge becomes more difficult. Does that mean that as more and more smart brains enter the arena it becomes harder to make a profit? Will there come a point in time that it will be very difficult to make a profit as faster and smarter scalpers continue to pick off the winning edges. Does that mean price behaviour will become more random? Do traders themselves become more efficient, smarter, less naive, more cynical, less trusting, more competitive where we enter a world of dog eat dog until we all die? I'm a bit concerned about this, Where will it end? Sorry about all the questions and I wasn't sure where to place this post, I was thinking along the lines of futures trading, but perhaps it can apply to all sorts of trading. Computers have helped us advance, but also made us more competitive I believe, margins are becoming slimmer even in retail sales due to online access to markets. Perhaps the people to win the most will be those with the cheapest costs, look at the chinese, but they too are now experiencing inflation, next country might be india and so it goes, on and on. I'd appreciate your thoughtful inputs.