Its not the failure that hurts. I'm ok with that, I just dont see many of screen traders making any doe...I know about 30 guys and maybe one or two of them are making 1k to 2k a day. The rest its a cluster f for them and it was for me also I know your a good guy deep down inside just need alittle push to be nice Aldo
Dats, When you traded in the pits you had an edge, mainly because the majority of the order flow came thru the floor. You were able to derive information from what the traders for the big sell side firms were doing and position yourself accordingly. Unfortunately as things progress in time they become more efficient. The buy side will not pay the slippage and market impact that they once would just like you wont pay $1 a minute for long distance to your cousin in Brooklyn (like you did back when things were hoping in the pit). Now, algos measure auto correlations in microseconds and reprice the market before your screen even refreshes. Sure there are guys that make money trading spoos on the screen, but they are part of the right tail of the distribution. Its like the guys who claim to be professional casino craps players. Its impossible to beat a game where the house has the edge. The spoos are the MOST efficient market in the world. I suggest you find a small or midcap stock where you can identify an algo or sell side trader working an order and you trade against or with his working order. He is less concerned about slippage in those names, because he has an excuse (liquidity). Dont try to beat the house at craps, the edge in NOW IN THEIR FAVOR. bevo
Dats, just a suggestion but why don't you take a look at the - One of the reasons I like position trading - thread in Strategy Trading particularly page 47 and on. Best Regards Johno
http://traderfeed.blogspot.com/2009/06/trading-psychology-view-from-trading.html realized the previous one willl only come up on the main page, same suggestion