in tra day. Open did answered the market call. On some days famous quote from Sun Tzu is quite applicable while trading CL " Every battle is won , before it is even fought"
The breakout in GOOG continues. GOOG is my dark horse pick in 2012. I think it makes new all time highs sometime this spring.
Dr. J just tweeted that Fisher is going to be on the half time report. Maybe an update on the 2012 trade he outlined last time?
Just a comment from my personal experiences. I don't trade full time, nor at a prop. My expectations reflect this. I won't make millions, I don't expect to. I do expect a decent return from my time & energy. I do make money equivalent to the time and energy invested in trading. I work 24 hour shifts, 8 or 9 a month. That average 49 hours per week over the year. Also own a property management business with 3 other partners. Also own a cash flowing rental. Point is that I put in the time to make these efforts successful. I get the success that I expect given what I put in to it. Attempted to fun a friends % family commodity pool years ago. We failed because we couldn't put in enough time & energy (licenses, taxes, audits, compliance, regulations, etc - all in addition to actually trading the account). I guess my point is that you may be "successful" putting in a few hours a week trading, provided your measurement of success is realistic.
I would say it is the red queen effect. It takes all the running you can do to stay in the same place. The longevity of an edge seems to be proportional to the size of the barrier of entry to it. To stay at the top you need to either be among the first to uncover and exploit new edges as they become available and old ones expire. Or you need to expend considerable resources and develop the expertise required to access a high barrier of entry edge. The entrenched players will not look kindly on you trying to eat some of their lunch.