Bob-
I just assume Drrisk is a soes trader, not sure. Some super trader once said something like "the uninformed majority funds the informed minority" in this game. I guess you could apply this to scalping in that the reality is that you can't beat the MM's (other informed minority), but you have to beat the other traders (less informed majority) to take your piece. Another thought, the experienced soes traders are probably making their living off of the newly professional "traders" that are lured in by the hype every day, hell I see it on TV and hear ads on the radio for "a new career in electronic daytrading". You see postings from them on SI every day. As I posted on another thread, I traded at a place with one of Houtkin's original bandits, actually 2 of them, and now they are both opening and managing soes offices. Why do you think they're not trading fulltime anymore? I was not a heavy volume trader, but I'm pretty sure I gave my trading house $3000+/- per week in commissions. It's a great business (as seen from an outsider's point of view). I was previously a building contractor and had to put out capital and do work, in addition to all sorts of non-compensated tasks, to hopefully get paid. Imagine a business where you have the customer's money from the start and you just deduct your fees whether they win or lose (I suspect it's not that simple), but it sounds sweet. Sorry for the directionless ramblings.
-Alex |
