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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Bilow who wrote (4424)9/26/1999 10:13:00 AM
From: TraderAlan  Read Replies (3) of 18137
 
Bilow,

The two I mention in my post weren't "20-something", they are 19 or 20 who were "trading trainers".

I don't have much to respond to in regard to your observations. Not sure they support one point of view or the other. You say you've been successful and it was relatively easy because you have fast fingers. The next question is: how will you succeed next year?

The market creates and eliminates "loopholes" that traders take advantage of. Rarely do these inefficiencies persist over time, SOES bandits are an example. Even momentum trading is very cyclical. The L2 screen has created new inefficiencies, as have the introduction of ECNs. Professional traders of all ages will tell you that these are -quickly- drying up as the masses adapt to the technology and the inside market does the same. Already it is clear that 90+% of traders of all ages using these strategies are failing right now. That you're succeeding is a testament to your skills.

But your current success is not a successful career in trading. You'll be forced to find original strategies over and over again as old ways fail. That's what makes a career, And that is something understood far better by older traders who have had to face the same need for adaptation in many unrelated areas of their lives.

Lets talk again in 5 years <g>

Alan
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