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I sincerely believe technical signals or system signals will only
improve for the better (assuming you already have a competent technical
system already, if not, focus on that area first!! Like whether we will
be in a speedboat or a sailboat, make sure you know how to swim on your
own first, other things are secondary to this.) not so much false
whipsaws, testing (as in kootchie kootchie koo) and trends will be more
perceivable and definable.. In my experience,during our conversion from
outcry to computer (Philippine Stock Exchange), there was a lot of
howling from the veteran floor traders (especially those whom I
personally know are really crooked), they literally were screaming,
scratching, and kicking at the exchange. One almost 30 year veteran
(crooked) floortrader, I know has retired after 3 years trying to eke
out a living under the computerization era and finally gave up.
This point of view might be more important for position traders and
quite as irrelevant as to daytraders who, always have very sharp knives
on both hands everyday and can quite evolve with any market changes
anyway.
James F. Mazzulla wrote:
> >There was rescently a posting on this forum remarking how on
> >one US futures exchange, 'locals' become redundant within weeks
> >of introduction of the electronic order matching.
> >
> >What I would like to ask is whether this novelty will change
> >nature of the trading ?
>
> Nope, people like you will continue to lose money.
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