hey HFT scum, yeah, you. Watch this

And you know what's really funny about this whole debate, looking back at that video by Jim Cramer... A widely believe reason for the May 6th "flash crash" was the improper execution of a large S&P futures order by BarCap. This was not a crash generated by computer algos... in fact, its quite the opposite. Rather than using an algo to break up the order, and thus minimizing the impact on the market and average execution price, some idiot hit the "sweep" button instead (which hits every bid until the order is completely executed).
 
Quote from stock777:

lots of bs slung here as usual.

calling you out.


give an actual example of an HFT strat in use that isnt a manipulation

I notice lots of talk, NEVER any specifics.


A mark of illegality.
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Arbing news events between two inter listed products. Done.
 
can agree with that. And I never intended to outlaw people who engage in whatever fair business practices they like. If someone is good at collecting rebates then I am the last one being jealous. I thought it was apparent from my very first post here that I target those guys who actually control a combined 50-70% HFT volume and who engage in questionable business practices.

Quote from tgtrader:

So you want to use Jim Cramer and a U.S. Senator's idea of what HFT is? hahahahahah



We don't need to assume that... its the frecking definition.

If you want to debate flash orders or practices where firms have access to information before others, you and I are on the same page... its illegitimate and should be eliminated. No question.

However, you need to recognize that its guys like yourself who use the term HFT in an improper manner that give it a bad name. HFT is NOT the problem, and that entire style of trading should not be eliminated. By all means... kick out the steroid-using players, but let the legitimate boys play ball.
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that is utter crap. It was HFT, look at all the fx crosses, look at all the stocks, look at european index futures, look at all the US indexes. This was an industry wide sweep where every last computer that was still linked to the game executed sell orders because sell levels were triggered.


Quote from tgtrader:



And you know what's really funny about this whole debate, looking back at that video by Jim Cramer... A widely believe reason for the May 6th "flash crash" was the improper execution of a large S&P futures order by BarCap. This was not a crash generated by computer algos... in fact, its quite the opposite. Rather than using an algo to break up the order, and thus minimizing the impact on the market and average execution price, some idiot hit the "sweep" button instead (which hits every bid until the order is completely executed).
More...
 
Quote from asiaprop:

that is utter crap. It was HFT, look at all the fx crosses, look at all the stocks, look at european index futures, look at all the US indexes. This was an industry wide sweep where every last computer that was still linked to the game executed sell orders because sell levels were triggered.
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I was thinking it was a coupling between extremely thin liquidity due to volatility, mixed in with a lot of stops being executed, margin calls, and band wagon shorts hopping on for the ride (who eventually got burned).
 
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