I'm familiar with how HFT players execute their edges and rely on technical infrastructure, and I'm familiar with how the analysts and fundamentals players derive an edge. But what is the path of least resistance for an automated retail trader? The more the trade trends towards riskless and shorter in duration, the more a certainty that HFT has beat me to the punch. As far as long term swing trading, locking up capital and overnight risks becomes a real problem. Has anyone out there gone from institutional to independent+retail, or is it always a matter of taking what one knows and moving with institutional understanding and forking off an independent operation?