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I don't know anything specific to this case, but generally, mechanical systems that work are not sold; they're used by the inventor, either for their own accounts or to run a hedge fund. In other words, my assumption is that any mechanical system that's sold is probably worthless (or nearly so).

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...

Perhaps for some subset of traders this is true, but discipline without edge is useless. Human nature is such that many DIY traders are, with great discipline, grinding away the days/months/years (and capital) for nothing -- no otherwise-usable skills to show for it, likely a negative...

So why don't you just place your order within the "minutes" during which the other party's bid is live, rather than waiting for the bidder to cancel? How is this even a problem? Or, are you saying you're sending your orders to venues that allow the bidder to cancel their orders when a...

These issues, while undesirable and (I'd say) in need of remedy in the US, have little to do with the relative use of HFT in other countries. The notion that HFT is only about unfair manipulation is generally an excuse used to justify failure to compete in an ever-more competitive market, hence...

Probably risky to set one's heart on a career on HFT -- more and more competition in the HFT space is making firms do more work to get ever small fractions of a penny in profit. Most (although by no means all) HFT trades are on the liquidity-providing, and there's only so much of this that can...

FYI, I don't think Newedge will take customers unless the opening account is at least $5 million. I think you can get much higher leverage from them at that level, though, as some regs no longer apply. There are a number of others (intitutional or quasi-insititional) that may give very good...

:confused: I've seen many definitions of HFT, but I've never seen one that would not include a millisecond holding period. Can you give an example? Pehaps a trade that went off due to trading platform bug? :D The vast majority of HFT volume is simple market making, replacing the trading...

Your math on this seems a little off (I think you mean 2% per month rather than .02%/month??), but regardless, anyone making 20% a month consistently probably isn't going to start a thread like this. The OP at one point said he "expects" 20-30% a year, which I would also guess is wishful...

Wrong about what? The text I quoted verbatim from IB's Web site (including, of course, that now-removed FAQ)? And if you say IB doesn't internalize order flow to Timber Hill (even though its disclosure clearly says they may do so), are your posts here a guarantee that IB won't? And will you...

I don't need to explan myself. It turns out there's a very good explanation from none other than Thomas Peterffy, CEO of IB, submitted to the SEC in 2000, as to why internalization is bad. Bad, for all market participants, except of course for the internalizing B/D itself, with its captive...

Yet this statement explicitly says that IB internalizes on "Smart" (:D) orders: [b] Is this one out of date too, def? It's from the Q1 2011 IB routing report....

What seems "destructive and couterproductive" to me is your apparent ignorance of what internalization is or how much it can cost you and other market participants. This isn't about explicit sbotage/manipulation -- it doesn't need to be for internalization to be very costly, in aggregate.

It's certainly possible one could gain basic -- or even quite advanced -- programming skills through the process. In addition, if someone takes the time to learn about e.g. statistics (by reading a real book on the topic -- NOT one designed for traders) or linear algebra or analysis, then yes...

How is it a "conspiracy theory" when your company's own FAQ said that IB internalizes to TH, up until this thread mentioned it? And if IB doesn't internalize now, then when exactly did it stop? And what's to stop it from starting up again? And why don't you change the pricing structure to...

But that's not the topic of this thread -- it's about B/D internalization, where the counterparty is about as far from anonymous as you can get. And there's an infinite (literally) number of ways a B/D can take advantage of you in such a scenario. Here's an article I just saw linked to in...

Timber Hill is close to, if not the, original HFT. I'm not quite sure what you mean by "stepping out in front" (there are many possibilities here, some real and some imagined), but you're worried about the other HFT's when your own broker is one of the biggest HFT's in existence?

Yes -- this is very possible -- NITE will do this, under certain circumstances -- it's at the broker level, then the broker talks to the client.

I agree that trading usually takes a lot of learning, but unforunately for most people who put in those 10,000 hours you suggest, they'll still end up with no profitable strategy, without having learned any useful/fun/fulfilling skills whatsoever. In this respect, trading is really quite...

Something approaching 100% of all the "penny stock newsletters" I've ever seen are purely promotional material for the stock, bought and paid for by the controlling shareholder as part of what's known as a "pump and dump" scheme. (I have a particular fondness for the ones that open by talking...