25,000 Roundtrips a day?!

[Surprise]

"
He faces 22 charges, which carry sentences totalling a maximum of 380 years, over claims he contributed to the Dow Jones Industrial Average plunging 600 points in five minutes, wiping tens of billions of pounds off the value of US shares.

American authorities claim the Briton made 875,000 US dollars on May 6 2010, the day of the crash, part of illegal earnings of more than 40 million dollars (£26 million) over a five-year period."

 

[Surprise]

http://www.telegraph.co.uk/finance/...ple-will-become-aware-of-what-I-am-doing.html

 

[smallStops]

The accusations go up to 2010 where they have proof of spoofing.
So actually Sarao must have started his spoofing few years ago. The time to learn it well,
might mean he started spoofing from 2008/2009 at least. So he has been trading in illicit ways
for 7 years at least. The question is then : didn't other traders notice what was going on? or
did those who knew preferred not to say.
It is really sad to see a trader in jail. At least he is still based in the UK. I do not dare to imagine
what trauma it would be in the US.

 

[Surprise]

In February he sent another email to the programmer detailing some changes he would like made to the program.

“If I am short I want to spoof it [the market] down... these [orders] will not be seen.”

 

[Surprise]

Sources close to Sarao said he had added to his British legal team ahead of an appeal in the High Court on October 14, where he will fight a March ruling saying he could be sent to stand trial in the US.

 

[comagnum]

Flash crash' trader Navinder Singh Sarao was worried 'people will become aware of what I am doing'
______________________________________________________
So this Nav guy is who some people here admire? A 36 year old man living at home -pathetic. Nav faces very serious criminal charges and is likely to do a lot of time in prison. With what little money he has left after his legal costs he will be lucky to buy mud pies in prison.

Like I said before - shooting stars are a dime a dozen, the only market wizards I care about have at least one decade, if not two or three, of stellar performance.
Taking shortcuts always fails in the end.

 

[syswizard]

Don't get why you want to convince yourself there's some catch to it?

That's obvious....it's because the poster is a bitter LOSER.

 

[algonoise]

Of course Sarao was spoofing. Cancel if close functionality - he was pissed his spoofs were getting swept and wanted to have faster and smarter cxls. Represented something absurd like a quarter of the sellside of the ES order book the day of the flash crash.

 

[syswizard]

He is just better than the rest of us. Not tricks. No illegal stuff (at least for the first 6-7 years). Some of my closest friends sat next to him and I worked in the same firm.

Bingo...Nav was specially talented in trading...but everyone wants to condemn him instead of praising him.

 

[comagnum]

There's a big difference between market manipulation and being a good trader. Never heard of any man living at home at that age, hell I left home at 16. This guy has piles of criminal charges a mile long - The Feds just don't lose cases like this - it's unheard of. I am sure the captain of the Exxon Valdez was at one time a very capable also.