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I have noticed that a good number of members who have posted negative posts about day trading, futures trading in particular have had their memberships revoked. I am not suggesting that is the cause but it is a cause of concern.
I believe the markets to more rigged against the nonprofessional than casinos are and they are getting perpetually worse for retail traders. With ever-decreasing latencies and processors and new algorithms being developed by the brightest minds in the world to increase firms' competitive advantage over retail traders this is an important issue.
The question is, which will make day traders extinct first, US gov taxes or high-frequency trading institutions?
Can you help answer these questions from other members on NexusFi?
HFT is actually on the decline. Of course algoes will always remain as much of the buying and selling is not done manually anymore but by these algoes.
Trading is very difficult, you are competing against the best and brightest. There will always be those who say its rigged.
How exactly does algo trading hurt day traders? If you say they make the market more range bound and unpredictable then learn to trade the range with probabilities or increase the time frame that you trade. taxation is inevitable but at least trading futures makes for less taxes than trading stocks.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
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I think your underlying assumption that the big guys are out to get retail traders is wrong. Have you considered that there is not enough of us to feed all of them? IMO, the battle is not "Retail vs Institutional" its "Institutional vs Institutional" and unfortunately retail traders get caught in the crossfire. Adopting the "us vs them" mindset is dangerous and inevitably shifts the blame for poor performance to external factors. The battle is not against the market, it's against yourself and your ability to remain disciplined and faithful to your plan. So will day traders become extinct? I don't think so and probably not due to US gov taxes or high-frequency trading institutions.