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Bright Trading's new payout model
- Thread starter Maverick74
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I manage a fund with 9 figs in assets.
No I'm not complaining. I'm just reporting on how markets are broken and how it will eat itself soon. The cancer grows larger undetected. And all y'all especially Maverick are stuck in the allegory of the cave watching shadows.
No I'm not complaining. I'm just reporting on how markets are broken and how it will eat itself soon. The cancer grows larger undetected. And all y'all especially Maverick are stuck in the allegory of the cave watching shadows.
Quote from CQNC:
Question Lights:
Do you have sufficient capital to access/utilise SigmAX (or any of the major dark pool systems) as do clients using GS as their prime broker? Are you moving millions of shares in one transaction, or per day, or per week, or per whenever, to justify the expense of needing a much wider spectrum in which to execute your trades?
If not, then what are you complaining about? If you're retail, or even low-level prop trading a few thousand shares, then the information provided to you at whatever level quotations you are paying for, is your swimming pool.
Anything larger, is out of your reach and not relevant to you, nor are or you relevant to the larger fish, playing in deeper, darker seas.
If you can't be profitable at the level in which you are competing, then you should consider not competing at all.
Quote from Lights:
I manage a fund with 9 figs in assets.
No I'm not complaining. I'm just reporting on how markets are broken and how it will eat itself soon. The cancer grows larger undetected. And all y'all especially Maverick are stuck in the allegory of the cave watching shadows.
Very deep, but no. It'll sort itself out, in time, like it always does, and things will be just fine again in America. Just watch and wait.
Now that the heading of this thread has totally shifted focus from Bright's payout to HFT (lol!), I would appreciate your insights/comments regarding the following:
http://www.businessweek.com/news/20...ed-by-finra-for-illegal-trading-strategy.html
I would like to learn about what happened here, and if you could please explain in layman's terms for all of us that do not fully understand the "HFT lingo", thanks.
Perhaps this can be answered by Lights, Propseeker, CQNC, Maverick, etc...
http://www.businessweek.com/news/20...ed-by-finra-for-illegal-trading-strategy.html
I would like to learn about what happened here, and if you could please explain in layman's terms for all of us that do not fully understand the "HFT lingo", thanks.
Perhaps this can be answered by Lights, Propseeker, CQNC, Maverick, etc...
Quote from CQNC:
When you start presenting valid, coherent arguments against whatever it is you're ranting about, maybe someone will believe you're working for a 100M+ fund. Until then...
He really is. However lots of successful wealthy people have ideas that aren't mainstream. Look at the overstock guy.
Sorry lights. Not comparing you. Just making a point.
Quote from ScalperJoe:
Now that the heading of this thread has totally shifted focus from Bright's payout to HFT (lol!), I would appreciate your insights/comments regarding the following:
http://www.businessweek.com/news/20...ed-by-finra-for-illegal-trading-strategy.html
I would like to learn about what happened here, and if you could please explain in layman's terms for all of us that do not fully understand the "HFT lingo", thanks.
Perhaps this can be answered by Lights, Propseeker, CQNC, Maverick, etc...
They were probably doing their spoofing manually. No HFT involved. Based on the info I've seen, they were just layering the book with large orders. People have spoofed forever, and it still happens all day, every day. This case really doesn't have anything to do with HFT.
they were stacking the book with size in order to manipulate algo's and other traders who react to to size. i think every trader i know has done that at one point in order to try and attract some liquidity. looks like they made it their strategy though, or in the very least part of an order execution algo.Quote from ScalperJoe:
Now that the heading of this thread has totally shifted focus from Bright's payout to HFT (lol!), I would appreciate your insights/comments regarding the following:
http://www.businessweek.com/news/20...ed-by-finra-for-illegal-trading-strategy.html
I would like to learn about what happened here, and if you could please explain in layman's terms for all of us that do not fully understand the "HFT lingo", thanks.
Perhaps this can be answered by Lights, Propseeker, CQNC, Maverick, etc...
this type of spoofing is actually pretty widespread, but this is the first time in the US where it was actually deemed manipulation. i can see the reasoning behind deeming it that, but it's not exactly what i'd call 'pure manipulation', ie not without risk. a couple of months ago there was a russian firm doing that on XLF. they got stuffed with something like 10M shares, turned off their computers, and disappeared. their clearer dropped a 1M or so trying to unwind it. anyway, point is, it's not always black and white... sometimes the 'manipulator' gets manipulated.
What trom said.
Quote from trom:
They were probably doing their spoofing manually. No HFT involved. Based on the info I've seen, they were just layering the book with large orders. People have spoofed forever, and it still happens all day, every day. This case really doesn't have anything to do with HFT.
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