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The most I can see this guy being responsible for is spoofing (he did have margin - these were not fake orders whatsoever) and at most should be fined accordingly. All of this criminal, arrest, extradition talk etc is ridiculous. This isn't Nick Leeson here and I see no reason this guy is...

So why did you do this? I don't understand why letting it hit a 40$ stop is going to be the end of the world. You had a decent entry and a reasonable idea on the overall trade. It didn't even come close to putting real pressure on your stop - and even if it did that's completely normal. Do you...

BTW I keep hearing this $9B notional figure. At which point was he trading/spoofing 160,000 contracts? The AGGREGATE notional of trades might have been around that figure but he never once showed anywhere near that size in a single contextual instance. The billion dollar figure is being used...

It's just crap sensationalist reporting from the Dailymail. As a former network engineer I can tell you he's unlikely to have had any significant latency advantage. The packets are highly likely to have been routed to similar hubs for back haul anyways.

They'll never touch GS. Complete protected class. Land of the free, home of the brave, and whoever's got the most money.

Only because HFT keeps it dishonest. Solve the HFT "problem" and the spoofing will decrease.

KP this is what I kept telling you about not jumping on breakouts or spikes but instead entering a limit order below (or above) the long (or short) direction such that it lowers your effective risk. This is also why I described you hopping on it quickly on spike but not entering on retrace as...

No I do not know how everything works at all. What I do know is what doesn't work and what I've been simply asking you to do, because I know you're struggling with a couple of basic breakthroughs, is to change your habits and thinking. You've got this inner chimp overruling any semblance of a...

I get it now. This dude was basically spoofing entirely to cause front-running parasitic HFT to buy/sell with the direction of his order as he's filled on the other side and then flips to do the same thing the other way - pulling money out of size and spread. Pretty classic spoofing and...

You're not allowed to short when the Nasdaq is above 5000. New SEC rule.

I'd wager to say that if they made selling order flow illegal and that brokers could not use internal order flow for monetary gain then we'd see an impact in HFT edge. Next step: cancellation charging or limiting.

i don't understand why you keep messing with stops and chasing breakouts when you know it just hurts you. It's total loss aversion and your entire mission should be to eliminate it first and foremost. You could have made 200$ today on a lucky trade but if you violate the plan its just...

I stopped caring personally. I just run Windows 8.1 in VMWare Fusion and just do everything from there via another desktop space. ctrl-right arrow and I'm in my trading VM. ctrl-left arrow and I'm back in OSX. No discernable performance concerns or otherwise. I do most of my trading from a 15"...

If you look at the bigger picture from London forward the entire day is one big ascending wedge. Note: This is a 2048 vol chart (I'm not into time charts) where you can see the higher lows edging up and up where a very obvious compression is building to blow through the PDH. Just simply buy any...

Bad example. 4/8 was FOMC meetings day with a bunch of crazy action around 1300ET.

Like I said KP, you should be entering your position where it feels uncomfortable. As you do this more and more and see positive reinforcement from price not deciding to drop 100 points the second you get filled then it won't be uncomfortable anymore. You're forgetting that the price already...

Seeing as everyone he interviewed was Australian, I'm not sure how that even makes sense. :-)

And don't forget - small trader with a lot of profit made (which the big boys absolutely fucking hate).

Seriously doubt that.

As I said, put the trade on, do not touch it.