Jack: Thanks....you have given me an alternate viewpoint...and frankly, I find that I have nothing more to say....or to put forward... ...off with integrity and rose colored glasses....or not? well its a moral issue, maybe not a real one... Ciao! Sanjay.
While it makes sense to ban some of the anti-social actions of HFT like "quote stuffing" I see no reason why day traders have more of an inherent right to make money in the markets than high frequency traders do. Day traders "waging war" on HFT are like blacksmiths whining that the automobile is eating their lunch. The "solutions" offered by our politicians, such as a transaction tax, will wipe out day traders, high frequency traders, and scalpers alike. The only ones left standing will be the buy and holders, and even they will have their returns lowered slightly due both to the tax itself and the reduction in liquidity.
Trade the foreign equity markets it's like the good old days over there. Technology hasn't caught up over there and in some markets trading seems like the mid 90s so if you want to go back in time change your alarm clocks. But in another decade or so even these markets will be very efficient.
I've been thinking about this idea. Can you offer suggestions for which markets you like as well as brokers that will accommodate a trader from the US? Thanks.
i trade through coastal and they just got foreign access to lse nikkei, ftse, bovspa, couple third world markets as well but to do this you have to trade through sterlings front end. right now i trade through lightspeed with coastal and i know lightspeed has no connectivity to these markets or atleast not yet.
1) "free markets" are not free. Free markets inevitably result in the concentration of wealth in the hands of a priviledged minority. 2) "free markets" are anti-democratic. The notion that democracy and unrestrained commerce are necessarily linked or even compatible is naive. 3) The new aristocracy wil be defined by access to benefits of the most advanced/expensive technology. The line has to drawn somewhere. By banning HFT the gov't can at least make a gesture to fair play and equality of persons. Money is power. Surely you can see how your version of fairness in the markets will lead to the absolute ascendency of the corporate elite and the annihilation of democracy in the so-called 'free world'. Also, let's consider what the phrase "make a living" means in a sensible context. Goldman Sachs isn't interested in 'making a living'; they want to rule the f-ing world.