So you say. And who writes those algos? There continues to be tradable directional price movement, sometimes clean and sometimes not so clean. Prices continue to overshoot in one direction or the other relative to "value." Sure, there are the bloodsucking HFTs, but there have always been bloodsuckers of one kind or another in the markets. So what has changed? The basic elements remain in place.
There is personal fear and greed in regards to your interaction with the randomness. And i agree, that's a powerful force in relation to your account. I have seen greed topple the smartest folks on earth in the market. And fear keep the intelligent poor in poverty. surf
1-- the genetic ones "write" themselves. If u look at where the top funds recruit their talent- its from the top schools that all teach the efficient market hypothesis so by default, we can safely say these machines have EMH as their core philosophy when approaching the market. 2-- yes.
I certainly don't disagree with this. I'm not quite so sure about this part - I think actually quite a lot of things - and perhaps especially educational processes - are non-linear (obviously in varying proportions). I do take your well-made point, though.
That's the whole point. Longer term, retail traders can still consistently make profits---- it just takes a deeper understanding than just price.
I see tradable directional price movement in short-term price action. Is it illusory? What deeper understanding am I missing?