Is keeping current a concern for you?

[russell]

Do you really think that having a pipe dream of having a computer make you money using "some kind of automated trading using statistical analysis" makes you some kind of balls out thrillseeker?

The only risk you are taking is that you'll be dead before you ever do anything about it.

I have already started designing it, if it fails then at least I will have tried and not wimped out at the first sign of competition. Don't worry the world need people like you to do the mundane tasks and take the mediocre path.

[doodab]

I have already started designing it, if it fails then at least I will have tried and not wimped out at the first sign of competition. Don't worry the world need people like you to do the mundane tasks and take the mediocre path.

I don't know where you get the idea I "wimped out at the first sign of competition". I simply stated a belief that there is more money to be made in less competitive environments. "Less efficient markets" might be a better phrase. So might "less mature markets with less established players and a lower cost of entry".

With most opportunities to make money the cost of entry goes up as time passes and there are more established players to take on. Hence my assertion that you are better off finding something "less competitive" i.e. hunting out an unexploited niche with a lower cost of entry and getting in early.

With daytrading particularly, you are often looking at exploiting market inefficiency, and you are going to be up against people playing the same game with more money, more computational sophistication and quicker trade execution. These people make the market more efficient and reduce your chances of success considerably.

The people who are really making money out of daytrading are the ones who are selling the dream, IMO, but good luck with it all the same.

[MarillionFan]

I like mediocre.

It got me where I am today.

Listening to the guy upstairs practicing his golf swing.

I think he sliced that last one.

I don't do mediocre. I do golf.

Now if you don't mind not breathing as loudly and stop grinding your teeth down there as you're putting me off, then I'm going knock this one 300 yards.

[russell]

I don't know where you get the idea I "wimped out at the first sign of competition". I simply stated a belief that there is more money to be made in less competitive environments. "Less efficient markets" might be a better phrase. So might "less mature markets with less established players and a lower cost of entry".

With most opportunities to make money the cost of entry goes up as time passes and there are more established players to take on. Hence my assertion that you are better off finding something "less competitive" i.e. hunting out an unexploited niche with a lower cost of entry and getting in early.

With daytrading particularly, you are often looking at exploiting market inefficiency, and you are going to be up against people playing the same game with more money, more computational sophistication and quicker trade execution. These people make the market more efficient and reduce your chances of success considerably.

The people who are really making money out of daytrading are the ones who are selling the dream, IMO, but good luck with it all the same.

I think I got the wrong end of the stick, sorry doodab, good post, I agree with everything you said. Markets like FX and futures are very efficient but individual stocks can act inefficiently and there are 1000's of them.

[suityou01]

I got a telephone interview for the VB6 gig. It's taken a couple of days for this, whereas I would have thought after one look at my CV they would have been wetting themselves to hire me.

[MarillionFan]

I got a telephone interview for the VB6 gig. It's taken a couple of days for this, whereas I would have thought after one look at my CV they would have been wetting themselves to hire me.

Why? Is it at SilentNight?

[suityou01]

Why? Is it at SilentNight?

Shush lowly UAT tester, you're talking to a developer here. 'ave some rispeck innit.

[russell]

Shush lowly UAT tester, you're talking to a developer here. 'ave some rispeck innit.

A bedwetter is a bedwetter, the shall have no respect regardless of their job title.

[suityou01]

A bedwetter is a bedwetter, the shall have no respect regardless of their job title.

Typo, or just grammatically incompetent?

I'm sure you have the entire boards utmost respect.

[russell]

Typo, or just grammatically incompetent?

I'm sure you have the entire boards utmost respect.

Typo, the entire board? I couldn't care less, I know the people that respect me are the non bw posters.