its hard to get excited about trading, as its not like it used to be 2 or more years ago. looks like the daytrader is going to become extinct if things dont change. you cant make the points on individual stocks like you used to. they manipulate the prices you get in and out, so youre already on the losing end after your initial trade. then you get discouraged when they fiddle with the real quotes. whats next?
Hi Abra, I remember another thread you started... http://www.elitetrader.com/vb/showthread.php?s=&postid=200328#post200328 Thus, based on these two threads...you seem to be stuck in the yesterday years trading. Why is that? Those that are succeeding today as they did in yesterday years...have done at least a few things... 1. They have adjusted to the changing markets...that's always changing regardless if its a bull or bear market. 2. They are making just as many points via Short positions as they did in the bull market via Long positions. 3. They have fine tuned their trading (discipline, strategy, patience, etc) Remember this...that was an incredible Bull Market. Many guys that didn't know much about trading were pulling in lots of consistent points. Many of them thought trading was easy or some thought they were master traders until reality hit when the Bear Market showed up. For an example of the above...there was an article in Active Trader October issue...page 80...called "Out of Business"...these former star traders failed to adjust to the Bear Market and Decimalization...read closely how they blamed the system instead blaming themselves for failing to adjust. (Note: Those traders interviewed in Active Trader weren't the cream of the crop...but its the best example I can use that's in actual print instead of using my normal quote..."the traders I personally know...") Those traders all of a sudden...realized they had to learn how to trade. Therefore, your subject title of this thread should not be "nothings going to change soon"... instead it should say..."I am not going to change soon". P.S. This Bear Market has been almost as profitable (for some...even more) as that Bull Market... an the traders that adjusted from Bull to Bear...know this for fact. NihabaAshi
gee, you don't say. here's some more sobering news.... 98-2001 was an aberration. we're probably not see something like that again for a loooooong time (although i would LOVE to be wrong). so, if you require those kinds of conditions in which to daytrade, well....
Yep, markets change, one of the things you'd know by studying. I'm one of the few people who are glad they did.
manipulation of prices are you paranoïd As for the excitment I don't agree the more they manipulate the more it is fun. It is the fundamental of stock market and the official theory does everything to deny and affirm the market is efficient. In fact there are more manipulations perhaps because more and more people know that the market is not so effficient so it is normal that they have to manipulate more because they have more difficulties to win in front of an army of daytraders People say the market has changed his behavior. I don't agree my model does predict with the same accuracy as a few years ago (remember for example Friday the 7832 I posted several hours before market's close - in fact it is even a copy n paste of what I have said since last Friday - said it should hold then Dow made in real an absolute low of 7830). What has changed is perhaps the speed and liquidity degradation. Liquidity is a different concept than volume. There can be much volume but liquidity can still worsen although they are normally positively correlated but in some occasions of high local volatility it can be the contrary. Electronic market, is also known for sure, even officially although they won't shout it to the public, to degrade liquidity.