Or maybe read this from FX Trader Magazine which partially quoted a Fortune/CNN article: "We want to see a big reaction in Washington" said Saluzzi ( so losey), "We need to get all these fast-trading jokers out of here." Are they suggesting we stop using Algorithmic trading systems, used by nearly every type of investment fund, including Mutual Funds, Hedge Funds, Banks and retail brokers? Exchanges have moved to fully automated electronic trading, as have funds - not only for execution but for decision making. Anyone who suggests that automated traders should be banned represents a dying class of angry workers similar to the Luddites, a social movement in pre-Industrial Britain against the developement of automated looms.
What about a news-based strategy that uses co-location to get into positions earlier? Is that criminal too? LOL you have no idea what you are talking about. Its order flow & frontrunning order flow that's the problem - HFT is fine because without order flow its just arbs & rebate trading. You do realize that co-location is another very misunderstood term and that in order to truly Co-Locate with someone like the CME/NYSE/NASDAQ/NYMEX/COMEX you need to have big money and a legit reason to do so?
hft SCUM leaking into other Countries as they seek to vibrate additional profits by jumping in front of YOUR next trade. http://www.economist.com/node/16792950?story_id=16792950&fsrc=rss
I do not even have real-time quotes enabled on my E*Trade account, because they cost extra, and thus I am not in favor of anyone else receiving real-time quotes, either. Or L2 quotes. Heaven forbid.
I got to give one thing to you and that is being predictable. As well as a master (copy) paster. Must come in handy somehow with all the time on your hand after losing all your money to the HFTers. Now quick find us another amusing little cartoon.