Hey guys, Obviously algos/bots are a big talking point in the markets now, and some are for it, some are against it. But I was thinking today, some traders probably would like to make their own algo, but I thought what do they actually do? I was trying to think of it today......like, explained in real basic terms, what ideas do these HFT firms have that they turn into algos? Especially that basically eliminates human scalpers? How do they program that into a computer, so that its effect is to eliminate the human scalper(basically the end result, not like they go out at have that in mind obviously). So do they program it to have the best bid/offer(where the real speed HFTers come in, colocation etc.) or do they somehow know when an order is a real person and so its programmed to squeeze it against them a few ticks, have some bid/offers there for when they puke out or what? Or....is it much more advanced than that, as in massive calculations and formulas based on statistics, standard deviations, mean reverting, relative value formulas or something? It amazes me that they can actually program something to scalp.......AND that it's actually profitable, sure whoever is fastest can because they will be able to get the inside bid/offer I guess, but then the guys/firms that are fractions of a second behind wouldn't be able to do the same thing surely? So then they would have to come up with some other "Push it against the previous move X ticks until a rush of activity in which it actually is entering on" type thing. Curious to know more about what they actually program into these things that makes it so humans are no longer a force. (talking about futures here btw, not stocks). Any info would be great to hear, if anyone knows anything about the details, it's no doubt all very secretive.