Quote from plyka:
This has to be a joke. HFT just seems to be the new excuse in a long line of excuses for losses. The oldest excuse in the book for losses is: "i would have been successful, if only they hadn't manipulated the market." By "they" of course the excuse maker means the powers that be.
The only time there is legitimate gripe in the trading world is when a party uses the power of government for an advantage. Banks getting bailouts is a crime, Jon Corzine NOT being punished for stealing money and fraud, is a crime. But in this case we are talking about legitimate trades. You and I both have the power to make trades as frequently as we want, we all play by the same rules. So how is it in any way illegitimate for companies to trade using HFT? It is no more or less real than you or i making trades.
If anything, one would expect HFT to make trading more reliable and predictable. We are talking about computers following algorithms. It is technicallly much more predictable than a tens of millions of people deciding to buy/sell on a whim.