077: Dennis Dick – How to be a Profitable Short-Term Trader in a High Frequency World
Chat With Traders
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Scalping Isn't a Viable Strategy Any Longer
A lot of your order flow is now going off exchange. So in a market making capacity or scalping capacity, it's nearly impossible to compete with those top tier firms. You know, you have a retail broker that routes orders out to an off exchange market maker. Those orders go through their platform first. So they're going to have the chance to match my quote. And I might not get filled because the order that's trying to interact with my 2450 bid is being routed off exchange and executed directly against another high frequency off exchange market makers. It's very, very difficult for, you know, a human being and even an automated system,you know, to compete with that.
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