desert CA
Experience: Intermediate
Platform: NT7, various
Broker: various, TDA
Trading: NQ,ES
Posts: 2,124 since Jul 2011
Thanks Given: 2,396
Thanks Received: 1,748
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By "cheap broker" do you mean a futures broker that charges far less on commissions and fees than the average futures broker? Futures brokers for retail traders usually come with a free feed access these days. Or are you just sticking to stocks? If you're starting out small you could consider forex also.
Just my opinion. I wouldn't call it "stealing" as much as most of trading now is computer and electronic trading and there is less retail involved liquidity than before HFT. Like you see those sparsely populated pits on the NYSE. They need us retailers to take the other side of the trade on futures contracts. If anything a small retail trader is trading off the excess of big firms, investment banks, and their funds where they have an overwhelming advantage in unfair use of foreign laws such as London's "hypothecation" and massive HFT pushes in odd hours where the same margin call rules don't apply to them and the CFTC and NFA for the most part pretend not to see severe transgressions, or claim they missed it.
Well, sure for everyone else who doesn't know about retail daytrading it does seem the majority societal view is that we are pariahs and market "robbers" no matter how small retail we are. I've heard news radio talk shows and reports about "retired people" who just daytrade all day and feel they contribute nothing meaningful to society or industry or to the economy.
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