What turn?? Markets will continue doing what they have been doing for centuries : go up, down or sideways. That's it.
We live in this world, you and me: ten years ago, all financial markets were broader, deeper, more liquid, more opportunity for more people to profit. Today, all financial markets are narrower in scope, narrower in session ranges, narrower in volume and true liquidity. Masses of real people are gone, and "profits" are concentrated inside a relative few large entities... some of which have no losing days out of 1,200+ sessions. But that's not skimming or parasitic, is it? Do tell what those HFT firms contribute to the breadth and depth of robust, methodical markets.
Lol at this thread. Peak efficiency? Are you mad? Yes the Federal Reserve jamming down interest rates and holding a huge amount of paper hasn't created any exploitable spots in markets. Zero. TOTALLY EFFICIENT BROS!!! MOVE ALONG PLEASE. IT'S ALL OVER.
My great grandfather was so mad when the street exchange became the AMEX. He couldn't sell produce while trading simultaneously anymore. He thought the market was ruined then too. Looks like it survived all right though.
Survive is fine. Prisoners of war survive, too. Markets used to employ more real people, distribute wealth thru a wider network of the economy via many more consumers. Now after all of the layoffs, downsizings and towel-tossings, it is a mere shell of the former robust industry. Or perhaps all the big banks are now laying off 10,000s more people because trade volume is exploding and markets have never been this gangbuster before?
I used to enjoy trading wide ranges in CL, I used to enjoy trading methodical price movement in the Russell 2000. Adaptation includes grinding for points in the ES, swinging for pips in a basket of FX, working more for muted gains relative to the past when VIX futures didn't exist for the U.S. government to wag the dog by its tail. But the big picture remains unchanged. Trading is merely work, it's just a job or profession or career or whatever you want to call exchanging time for money. At times that exchange is much more favorable than other times, and at times we need to change it up. In the end, trading is just a chore for money. If anyone here wins the $100+ million jackpot in Mega-millions drawing tonight, I highly doubt they'll be concerned with what the markets are doing from tomorrow ever after.
due to HFT and their automation (again) spreads have come down, commissions have gone down. even taking into account "fake" liquidity, if you set up your routers properly you can still get filled much better than you could 15 years ago. in a sense, it's 100% comparable to what has happened in other industries, mom-and-pop stores going out of business to large multinationals. as another poster already wrote, it's basic economics. the picture of real human traders being the holy grail of markets i find ridiculous. when markets crash, there was never an army of human traders ready to save the system. they were in it for the profit and when things go down they disappear. it's exactly the same now. i'm sorry for you you don't find your work enjoyable anymore (if you really dislike it so much, isn't it time for a career change? being happy about what you do is so much more important than money anyway..). but the market doesn't owe you a fun time. just because you are not enjoying the market dynamics, doesn't make the market dynamics wrong or make the market as a whole broken.