Did you read the article? The dude just says that he found the work boring and algos are hard to build.
::head scratching:: yes? I'm not sure which part did you read as this guy saying hft is scum? The closest I can find is a part where he doesn't really think trading in general generates much value.
Third point, first sentence -- full stop... I guess his research into algorithmic trading somehow managed to overlook Jim Simons and his track record with Renaissance Technologies.
Typical stock777 reading what he wants to read versus whats been written. FYI, algorithmic or automated trading does not always equal HFT.
this the guy's not a HFT, just another retail trader...in fact he said he's not even really a trader, he just helped other traders write their algorithms if he was working at a big firm raking in the big bonuses, i'm sure his blog would be a little different
This says it all: "Disclaimer: If I ever make a personal fortune from web startups, there's still a part of me that would like to give algorithmic trading one last try. There, I said it." Lack of "soul", lack of "community", "it's all about the money". His reasons for disliking automated trading are negated by his final statement. Trading is the hardest profession to succeed at, and hence, the rewards are the greatest. What one chooses to do with those rewards, should one succeed, are what defines them. It's not the trading, stupid.
CORRECT ! Banks are doing mostly the former. HFT firms with seconds-long trades are real specialists. Finally, saying HFT firms are scum is like saying Apple is scum for taking advantage of people's desire for iphone apps. What a lot of B.S. !