Important, all traders read, "issues"

[BPtrader]

Quote from occam:



What amazes me is that 25% of all NASDAQ-listed stocks now have over half of their total consolidated volume reported on Nasdaq's TRF alone (there are other TRF's, too). This means that over half of the volume in these stocks never touched a real exchange. What proportion of that is internalization vs. dark pools, I'd certainly like to know, but I don't know of any source for this that's updated relatively frequently; let me know if you do.

Yet, SEC turns a blind eye to this serious problem in the market.

Why? because SEC is run by a bunch of crooks, and those crooks have a close relationship with those thieves in the market.

Remember Bernie Madoff once praised Mary Shapiro (current SEC chair) as a "terrific lady." Go figure, to be considered as "terrific" by the biggest crook says a lot about Mary Shapiro and SEC.

When the market crooks are in trouble (e.g., AIG stock dropped like a rock), SEC crooks are very quick to step in and offer help (e.g., banned short selling).

Now the market crooks are blatantly running dark pools, but SEC pretends nothing is happening!

Furthermore, instead of catching the market crooks making illegal profits, SEC and politicians want to impose tax on ordinary traders! The reason they cite for imposing trader tax is to get the government bailout money back. This is getting ludicrous! Since when did we traders receive any bailout money from the government?????

 

[propseeker]

Quote from BPtrader:
OK, when Don mentioned "high frequency trading," I am sure he meant GS style of "flash trading" or "front-running."

bptrader, don didn't write the article, it was a guy by the name of dennis dick, one of their traders, but from the looks of it they're actively supporting him and his website, defendtrading.com. here's the problem, when you scapegoat an industry with the negative actions of the few, you're going to negatively affect the whole industry. it's inevitable in the public media, because they don't know any better, they have no inside knowledge on the matter, they're going to point the finger at whoever they get told to point the finger at. but when you've got people inside the industry, who work, live and breath it, who actually make money off hft, and who then are borrowing these media scapegoating tactics that slam high frequency trading, in order to further their pet peeve causes, then you've got a pretty big self-destructive conflict of interest. the bright's are basically promoting hft strategies/opportunites in one thread, and then supporting a guy who's actively petitioning regulators with the theme that hft is the source of all our problems. it makes ZERO sense and is the most idiotic thing i've seen in a while.

mocy, thanks for the offer, my floor broker though actually got me hooked up earlier this year. about the programming... i don't do it for others, and actually don't do much for myself anymore either... much cheaper to farm it out to good talent and concentrate on the making money part.

 

[operator]

Quote from propseeker:

when you scapegoat an industry with the negative actions of the few, you're going to negatively affect the whole industry.

Don is just asking for a level playing field for all market participants...Is this not a fair request?

 

[propseeker]

Quote from operator:

Don is just asking for a level playing field for all market participants...Is this not a fair request?

no, it's not a fair request when you blame people who aren't responsible.

are high frequency trader's responsible for flash orders? are high frequency trader's responsible for sub-pennying? no. they're not. these are products and services that are created by b/d's and 'dark pools'. they're marketed to a SEGMENT of the high frequency trading universe.

is it fair to blame the whole universe of high frequency traders? is it fair to even make 'high frequency trading' an issue in this when it could have negative effects for all short term traders? no, it's not, and it's extremely negatively biased towards short term trading to do so.

the sooner traders on this site start realizing that 'high frequency trading' is just another moniker for 'short term speculator' or even 'trader' in general, you'll start to understand the gravity of the assault going on against us. if you're inside the industry and are concerned with certain issues, make sure you don't get swayed by the media hype going on right now. the fact that it's even swayed a prop firm like the brights into taking up arms against short term trading is evidence of the strength of the opposition.

 

[Moc Yeah]

Quote from operator:

Don is just asking for a level playing field for all market participants...Is this not a fair request?

The market will never be fair for all market participants. Never has...Never will be. First it was people complaining about specialist and frontrunning...then they got rid of married puts and shorting on uptick... So they did reg nms and other tools to make the NYSE look like Nasdaq...Then they blamed naked shorts for the market crash. Now its dark pools, flash orders, and High Frequency Trading. Do i agree that somethings are outright unfair? absolutely...But those things will eventually get flushed out of the system. Kind of like the theory of Natural Selection, but for profit... not survival (well, kind of).

I believe that dark pools and flash orders will be gone sooner that you think... and that High Frequency, a necessary component for a less volatile market and smaller spreads will continue to grow.

Its too bad that most people don't have the facts about what is right and what is wrong with the markets (but then again most people don't even know the difference between dark pools, flash orders and hi freq)

Until there is a day with one centralized market without 10 different venues that pay different rebates to get orders out on the same stock...then the market will never be fair to ALL participants.

 

[gkishot]

Yes, markets should be fair for all participants. No more mafia style markets. That's the task the regulators should focus their efforts on. But if somebody makes money because he has faster computers or better algorithms so let it be. That's fair in my mind.

 

[operator]

Quote from propseeker:

is it fair to blame the whole universe of high frequency traders? is it fair to even make 'high frequency trading' an issue in this when it could have negative effects for all short term traders? no, it's not, and it's extremely negatively biased towards short term trading to do so.

Quote from Trading Defenders:

"Trading Defenders is NOT opposed to high frequency or algorithmic trading. We are opposed to abusive strategies that some High Frequency Trading firms employ."

Who's blaming the whole universe of HFT. Not sure why you keep on hammering that point.

I personally could care less about all of this sub-pennying stuff, but It is NOT a level playing field for some parties to be able to trade ahead of other traders. Why is that so difficult to understand....

 

[operator]

Quote from Moc Yeah:

The market will never be fair for all market participants. Never has...Never will be.

But does that make it right?

 

[gkishot]

Quote from operator:

Quote from Trading Defenders:

"We are opposed to abusive strategies that some High Frequency Trading firms employ."

Are they actually obligated to disclose their trading strategies?

 

[operator]

Quote from gkishot:

Are they actually obligated to disclose their trading strategies?

I think that sentence could probably be written better with more clarity. Something like I'm sick and tired of these pricks sub-pennying me.