Day Trader’s Weekend Aftermarket Lounge 15-17 Feb 2019, page-34

I agree the basic drivers of speculation haven't changed. It's deeply ingrained in the psychology of many and has always been this way. However, as mentioned by Endless and Togakure the evolution of the methods seem to be reducing time-frames and consequently increasing risk. It's more difficult to compete when you don't know what your competing against.

There was a video posted here recently where a quant, in reference to the U.S markets, said that no one knows how the system works anymore. They all know how their algorithms work but releasing them into the system with all the other algorithms creates such a complex system that it's impossible to know how the interactions will play out on the broader scale. In recent instances of flash crashes it has been impossible to trace the exact cause because of the impenetrable complexity of the system.

I trade with a very small percentage of my capital on very short time-frames because if the smartest people can admit they don't really know what is going to happen next then I've got no hope of working it out. I have done my numbers for the FYTD and it confirms my turnover has reduced considerably. The strike rate is holding the long term average but the return/trade and number of trades have diminished. This is a result of being more cautious on entry and an unwillingness to push a trade too far. I am trying to develop new strategies to increase to turnover but it is difficult in an ever-evolving market.