Important, all traders read, "issues"

Quote from 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.
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Thank you. EXACTLY my point... I just use the tools that are available to me and get paid to do it. I might pay a little more than others...and they might not like that I make more money than them for trading in and out of the same stock thousands of times per day just to trade to be flat or make less than a penny on that stock. But i'm SURE they would do it if they knew how to. (just like the people did before I knew about it)

If an exchange offers a benefit...and gives traders the ability to be at the front of the line on every trade (in order to increase market share for their business), then i'd be an idiot not to take advantage of it.
 
Quote from Moc Yeah:

Thank you. EXACTLY my point... I just use the tools that are available to me and get paid to do it. I might pay a little more than others...and they might not like that I make more money than them for trading in and out of the same stock thousands of times per day just to trade to be flat or make less than a penny on that stock. But i'm SURE they would do it if they knew how to. (just like the people did before I knew about it)

If an exchange offers a benefit...and gives traders the ability to be at the front of the line on every trade (in order to increase market share for their business), then i'd be an idiot not to take advantage of it.
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Unfair in my mind is when the lawmakers want to impose the transaction tax and at the same to exempt the market makers and the mutual funds. Unfair is when the regulators are giving advantage to some players over others and creating by this the markets that are run and controlled by profs (mafia).
 
Quote from operator:

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.
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don't just read the disclaimer, and why they feel the need to even write that disclaimer is a HUGE RED FLAG. read ALL of their literature. it's OVERWHELMINGLY high frequency trader stole this, high frequency trader robbed me here... bla bla bla. the overall effect, is that one ends up associating negative activites with high frequency traders. why? if the purpose is to defend traders, demonizing traders and trading strategies is going to have THE EXACT OPPOSITE EFFECT.

let me give you an example of NON-BIASED text that is interested in presenting FACTS vs the NEGATIVE BIAS and PROPAGANDA from defendtrading.com:

1)Sub-Pennying Definied: The private quoting and or execution of shares between the spread of the NBBO occuring on dark-books and internally within broker dealers that allows for unfair competition between participants in the public market.

2)Sub-Pennying Defined: When a broker-dealer or high frequency trader steps ahead of a displayed limit order by 1/100ths of a penny. [this is the definition from their website]
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number 1 addresses the problem OBJECTIVELY, number 2 makes NEGATIVELY BIASED ACCUSATIONS against broker dealers and SHORT TERM TRADERS. their entire website is written like that. how the fuck do they know that a 'high frequency trader' stepped ahead or that anyone stepped ahead? why not some manual trader at swift who figured out how to game a darkbook? why not a retailer like IB running an internal customer match?

defendtrading is bullshit, victimized, self-destructive activism and shouldn't be supported by bright or anyone else in the industry. write non-biased, non-derrogatory, OBJECTIVE summaries of the issues and ONLY THEN say you represent us. as it is now, they're an embarrassment to the industry, and an embarrassment to bright trading for attaching their names to it.
 
Quote from gkishot:

Unfair in my mind is when the lawmakers want to impose the transaction tax and at the same to exempt the market makers and the mutual funds. Unfair is when the regulators are giving advantage to some players over others and creating by this the markets that are run and controlled by profs (mafia).
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isn't the pattern daytrading rule unfair already?
 
Quote from operator:

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."
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what is an abusive strategy?
 
Quote from propseeker:


number 1 addresses the problem OBJECTIVELY, number 2 makes NEGATIVELY BIASED ACCUSATIONS against broker dealers and SHORT TERM TRADERS. their entire website is written like that. how the fuck do they know that a 'high frequency trader' stepped ahead or that anyone stepped ahead? why not some manual trader at swift who figured out how to game a darkbook? why not a retailer like IB running an internal customer match?

defendtrading is bullshit, victimized, self-destructive activism and shouldn't be supported by bright or anyone else in the industry. write non-biased, non-derrogatory, OBJECTIVE summaries of the issues and ONLY THEN say you represent us. as it is now, they're an embarrassment to the industry, and an embarrassment to bright trading for attaching their names to it.
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that sub-pennying-talk is non-essential and totally unimportant. it takes away the focus and fighting energy from the transaction tax, which is a really serious issue. and it looks like institutions are going to make a deal with the government at the expense of the private trader - again
 
Quote from muller:

that sub-pennying-talk is non-essential and totally unimportant. it takes away the focus and fighting energy from the transaction tax, which is a really serious issue. and it looks like institutions are going to make a deal with the government at the expense of the private trader - again
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I agree the real issue is the transaction tax.
 
You guys are so, so late. I told you years ago, if you didn't stand up for what 's right, you all will lose everything. We're in for a nasty correction, and who will be blamed. You.

Look at the news flow today. Cookie Lady Roemer lamenting bank bonuses. SAC is in the news daily. Frank Rich is in the NYT today. It's all aimed at Wall St. You and I both know the little guy is the victim like the flyover folks. But it doesn't matter. It's all about perception. And "trading" doesn't produce clean energy. To an outsider, it's nothing but figuring out how not to work. It serves no purpose. I don't think it exists in it's present form for much longer. I would suggest you look here:

http://kaufman.senate.gov/press/in_the_news/news/?id=09ee31e4-5056-9502-5d50-2242f987d875

Then, find the speech Eric Holder gave in West Palm Beach Florida, I believe Thursday.

Don, you're a smart guy. An honest guy I believe. But you sat on your haunches too, too long. This one is going to cost you a lot of money. The populists are coming, and Wall st. has no friends at all. And it just is going to get worse, and worse. Too bad. But it has to happen. When the Street gets fat and happy, they just get arrogant and steal more. You guys know it, and I know it. The Feds know it too. And the politicians. The resignation of that joke Dodd is a big blow to the blow crowd. Just another sign. You dont' have to be Tonto to read the signs. They are everywhere.

To you morons who voted for Obama, you earned this. It was going to be bad no matter what. But a College Professor, Marxist, Chicago Machine Politician? Good Grief.
 
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