rew..would it be better, if everyone can see same quotes at same time? would it be better if there is no 2 tier market with 80+ trading venues, but just 1-2 exchanges? would it be better,if everyone can place orders with only 2 digits after decimal points,not 10 or 20? would it be better, if bots are not allowed to place meaningless 10000 orders to buy\sell\cancel per second? i know, i know..the world is not fair,trading is very competitive business,i should adapt and not everyone created equal..but i personally think that all above are very simple steps, that will make trading more transparent,fair and easier to regulate. are you disagree?
I am not here to defend every practice of the HF traders. In an ideal world we would all see the same prices at the same time. In the real world, where it takes milliseconds for light to get from New York to California, there will be moments where a price is a penny higher in one place than in another. I don't know about you but for my type of trading (and investing) that penny doesn't make a heck of a lot of difference. I agree that it would be best if everybody in the market gets the same number of digits of precision in the prices. I can't think of any good rationale for not doing things that way. And no, I don't think so-called quote stuffing does anybody any good -- it appears to be an attempt by some players to mess with the level II book so as to make it useless to other traders. I'm all in favor of rules to prevent the abuses. But the main thing HF traders do -- identify very short term trends and front run them for a tiny profit -- does not seem to me to be so very different from what swing traders do, except on a much smaller time scale and for much smaller price differences. If what they do is evil then what day traders do is evil too. I think we got ripped off more badly by the old fashioned specialists.
I posted this on the forum on an ftt thread- http://www.elitetrader.com/vb/showthread.php?s=&postid=3249120#post3249120 zdreg Registered: Oct 2003 Posts: 6186 07-27-11 12:13 PM here is a possible Trojan horse for a FTT. http://advancedtrading.com/articles/231002631 link was provided by tradator on another forum concerning HFT traders. http://www.elitetrader.com/vb/showt...917#post3248917 if anybody on this thread ever called HFT traders scum etc. remember if they get a fee added to their trades you are next. _________ this current thread is dominated by a bunch of whiners. if your wishes come true u will eventually be paying an FTT and will deservedly so be flipping hamburgers soon thereafter. remember what goes around come around. ps the specialists use to feed his family from people like the OP.
shills, no one gives a shit about a penny or two. hft scammers are moving the price 10-20 cents when they get a free, first look at an order. sure, if you're trading on a long timeframe, it wont matter much, we know all about it.
stock777 stop whining. You can always trade in a market devoid of computer trading. Like Mongolia. Enjoy the spreads.
Is that a self-portrait? After all, if you were succesful at trading, then why would you waste 1000's of posts whining about something you obviously know nothing about? Actually, my guess is that the greeter's job is much preferable to those of most of the whiners on these forums -- in terms of both 2011 hourly pay and personal satisfaction. If so, maybe it's time for a new career path. The tradable markets are only getting tighter and more competitive. Seriously.
daytraders only steal from themselves in a zero-sum game. alot of daytraders are unprofitable. HFT are very profitable. because they are frontrunning. because they steal from investors.
tell me about it..have you noticed spreads today on stocks? i track spreads on stocks i trade..guess what? they almost doubled today. yeah...liquidity providers....tight spreads..they all fucking gone,right after i pressed my close all positions button..