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Don't blink :p

I'm disageering with the premise that quantitative traders are less capable/adaptable than traditional chart traders. I agree with your discription of price discovery and order flow. I'm not sure why you think a human trader looking at minute bars on chart is more capable than a well thought...

Agree to disagree.

+1 For NxCore. I recently started working with them and have been very pleased thus far. Their c++ API is very intuitive and easy to use. The only thing I dont like about their real time service is the 1yr commitment. Their services are pricey, but I dont know of a better value elswhere. One...

+1

I think you are making the mistake that because that the best risk/reward for them right now is "front-running", that they are incapable of other strategies. Is it safe for me to assume that the only trick you have up your sleeve is price action (I'm just guessing here)? I doubt it is, but it...

Do you have any reason to believe the "mathematicians" are unable to adapt? What makes a price action trader more versatile? I welcome regime change, it creates a whole list of oportunities to exploit before they are arbitraged away (I'm also not a spoofer/front-runner, etc). No matter what the...

Sure, the system is broken, but that is due to reg nms. Exploiting government mandated market inefficiencies isnt illegal.

Unless they have evidence of laws that are actually on the books being broken by these firms, I hope none of them cooperate. This seems like a witch hunt to me. Just because something isn't "fair", that doesn't make it illegal

Forgive my ignorance, but what is layering?

Is there actually a CFTC or Exchange rule that prohibits this? I was under them impression that this is commonplace.

Of course they do.... they arent the ones paying for it

I too would love to hear how your ATS is doing. Hopefully as you predicted

If you can't accurately model your fills, why are you even playing the game? How do you know they are pulling liquidity as soon as your order is sent? How do you know they aren't doing it slightly before? How do you know someone wasn't in line before you and ate up all of the liquidity at that...

I do have a problem with the fragmented order book and the hidden orders, but this is a known problem, and it should be accounted for in your fill modeling.

Lengthen your time frame and change your expectations.

Are people on the east coast front running those on the west coast? What is the difference? It takes light 13.6 milliseconds to travel from New York to LA, so the absolute fastest someone in LA could react to a quote is 27.2ms assuming no other latency. Someone in NY will be more than 10x...

Strategies and technologies. You can have both I most certainly am not cheering for the death of the small trader. I still believe there is plenty of money for the small trader out there. They just need to adapt to stay competitive. Those who are unwilling to adapt deserve to get eaten by...

Tell me....what exactly are they doing that is illegal and do you have evidence to prove it? No, placing a market order and getting filled at $20.10 instead of the 20.05 that your bars indicated the offer was at is not evidence. You or I could do the exact same thing as hft if we had the smarts...

I'm getting really tired of the allegations against HFT (No, I'm not an HFTer but I do admire their technology..)....People complaining about HFT seeing data first is analogous to me complaining that common people in New York see data before I do in Arizona. Its just physics....light can only...