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In both of your examples, all of the participants, whether or not they achieve mastery, are still awarded some level of success for their efforts. Just because you're not the president of GM or playing in the NBA does not mean that you aren't getting paid or can't make a reasonable living. I'm...

I'm sorry but I don't really understand either of your questions. Could you rephrase them? How can price 'drift to the nbbo'?

Yes I am generally always posting out of the nbbo but not for the reason you cited nor am I right above or below it. I add liquidity because it is not economic not to.

Currently das trader, for lack of a better option. If I lived in the usa, I would use takion or lightspeed.

I don't know.

I don't think anyone here is arguing that hft hasn't had an impact on the market. But I don't see the relevance of the argument as it pertains to tapereading.

I'm an average trader so yes it's available to people like you and I.

This is a good idea. I've developed a couple of automated strats with basic inputs that tested out well over the last 5 years or so... when I tested over 12 years, the same strats flopped and hit periods of drawdown that I would not have been able to stomach in real life.

Maybe paper losses from not using stops.

Liquid stocks, lots of volume, usually under $30 for in-plays, nothing special. I have other strategies for trading big caps or SPY.. I cut my teeth trading those so I am always watching and will trade when there's opportunity. You?

Okay...? I don't understand what your point has to do with tapereading or even adverse selection. You are not obligated to trade or make markets. If you choose to continue to trade, find another way to do it where this type of activity doesn't affect you as much. In my experience, hft does not...

I could literally answer this question with a one page response but I will keep it short. 99% of the time I'm adding liquidity. Keep in mind I trade stocks, not futures, and with the rebate passthroughs on various ecn's using various routing strategies, most of my trades are either negative...

I agree with the thread starter in a general sense. Traders are probably the most delusional group of people in finance, suffering repeated net losses and yet convinced of their own abilities to succeed... without ever translating those convictions into actual success. Sure this guy started...

There are numerous ways to circumvent that kind of activity. Here's a few: You can add liquidity instead of taking it, trade on an exchange that has a speed bump built in (like IEX or NYSE American), trade in the dark, trade at the midpoint, trade in icebergs if you're moving large size, hide...

I trade stocks using the tape and level2 almost exclusively. I dont know how to trade without it. When i started, i spent 5 months in a very realistic simulated environment, 8hrs every day, trading between 100-150 round turns per day. i lost a moderate amount of fake money and got really bad...