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hobojoe,
Those who "think" they can make money on worthless crap on a consistent basis are foolish. Thinking you are fast enough is what the gunslingers assumed in the days of the Wild West. Sure, they were fast sometimes. But they only needed to slip once for it to be fatal.
Anyone who thinks he is "fast" enough to beat the market playing "worthless crap," as you call it, is assuming (and risking) they will not have a computer crash at the wrong time, nor software problems, a telephone line or network connection problem, delayed quotes or inferior datafeed, Nasdaq or SNET problems, server problems with the broker, or a multitude of other things. Any of this has a problem, your being "fast" doesn't matter anymore. Too many problems and you're out of the game.
There are those who think they can make money because they are fast, and there are those who would rather make money being smart, disciplined, and patient. The former are greedy, and the latter will win over time. It always amazes me when I hear people brag about trading "worthless crap." But thank you for reminding me anyway.
As for "blowing stops," if a trader is in a position and experiences certain technical problems, blowing a stop may not be a matter of choice. At that point, the trader has no control over the situation, at least temporarily. If you do not believe this, you simply have not been trading long enough ...... yet. |
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