hft doesn't reduce transaction cost. it is at most neglible effect. hft bid and asks change the VWAP that is used by pension funds to be more expensive. so even thoughs the spreads are tighther, the stocks are more expensive. It cancels eachother out. Ask yourself, do HFT play a zero-sum game, like daytraders?
...that's because failed traders blame "hft" for the reason why they're not successful....I never "got" the animosity towards hft
thanks for the advice. Yeap, I started implementing swing trading strategies and dug out my old resume too, haha.
also to add, Contrary to popular belief, a lot of algos have already been knocked out, especially in the small-mid cap space, it is a frigging desert out there. Liquidity in that space has utterly collapsed.