New book on how traders are beating the HFT guys

[ashantt]

Just got done reading Traders Of The New Era. It is an excellent read! Being a full time trader I read a lot of trading books. At first mostly technical analysis books and then most recently trading psychology books. This book is a lot closer to psychology because you really get into the heads of real traders like ourselves. I felt like the traders being interviewed were everyday traders that I could totally relate to. When they talked about issues/concerns and what they do to avoid them I found myself saying to myself "yes! I have that issue too". The difference is they have been around long time and are highly successful so they give good advice on what to do.

Unlike other books Traders Of The New Era doesn't try to teach you specific setups or trade management. However, I felt like I gained more knowledge from it than any book I can remember. If you are a trader that is active in the equity markets I highly recommend it.

textrader, the chapter on options with Atticus is Drownpruf who's posted above, man kills the options for a living.

 

[CoolHandLuke]

you can't "beat" HFT's, they impose their tax regardless. you may still be able to make a profit DESPITE them. that';s not same thing as beating them.

 

[xandman]

Lots of it here from citable research. You have to simplify things though.
http://www.nanex.net/FlashCrash/OngoingResearch.html

You will have a big market for hyper active traders who won't have the patience to get into too fine a detail. That's what made Stock Market Wizards a hit. It swung between inspirational and concrete.

Besides, you want to hold something back for the potential consulting gigs when you become famous.

 

[Grandluxe]

Lots of it here from citable research. You have to simplify things though.
http://www.nanex.net/FlashCrash/OngoingResearch.html

You will have a big market for hyper active traders who won't have the patience to get into too fine a detail. That's what made Stock Market Wizards a hit. It swung between inspirational and concrete.

Besides, you want to hold something back for the potential consulting gigs when you become famous.

Are you kidding? 1st book was the best, it went downhill from there.

 

[elitetrader15]

HFT are doing what human traders used to do in trading arcades manually. than some computer programmers automated the process.

There is a new book out about how current day traders are beating HFT. It is titled “Traders of the New Era: Interviews with a Select Group of Day and Swing Traders Who are Still Beating the Markets in the Era of High Frequency Trading and Flash Crashes”

http://www.amazon.com/Traders-New-Era-Interviews-Frequency/dp/8591671309/ref=tmm_pap_title_0

It is very appropriate with all the talk about how HFT is ruining trading. I just got done reading it and found it very informative. All the traders interviewed are long time traders that have adapted to the new world of HFT. For me, the highlight is Eric Scott Hunsader who discusses how the new HFT structure affects everyday traders. I have already made a few changes in my trading based on it.

It is a quick read and similar to Market Wizards, except the author interviews veteran day traders, not hedge fund manager.

My only complaint is that it could have been edited a little better.

 

[wrbtrader]

Right. But that's what I really liked about this book. It supplied practical advice to the typical day trader that you won't find anywhere else. Other trading books talk about TA and set ups, but his book gives info that you can really use to improve your day trading.

The same practical advice for the typical day trader has been discussed dozens of times here at Elitetrader.com the past year or so. The problem is that its just message posts within threads fulls of arguments, debates or different topics involving other aspects of trading.

Simply, very easy to miss the "practical advice" because its like searching for a needle in the haystack from amongst all of the junk message posts.

The book puts it all together so that you didn't have to go looking for the same information from all over the internet unless someone has something against authors (vendors) that just want to help by putting all the info into one source.

 

[xandman]

HFT are doing what human traders used to do in trading arcades manually. than some computer programmers automated the process.

Slightly worse. The exchanges facilitated HFT with HFT friendly order types. They turned their backs to the public when they found a better revenue stream.

 

[stock777]

you can't "beat" HFT's, they impose their tax regardless. you may still be able to make a profit DESPITE them. that';s not same thing as beating them.

I've been saying this for years. Took 99% of the turkeys here a very long time to figure out that , once again, I was right.

 

[drownpruf]

I've been saying this for years. Took 99% of the turkeys here a very long time to figure out that , once again, I was right.

Wow, yeah. Thanks for telling us cigs are bad for our health. How fcuking insightful and prescient!

 

[stock777]

Wow, yeah. Thanks for telling us cigs are bad for our health. How fcuking insightful and prescient!

I see you're here since 2013. So you were what, in 4th grade when I started wising them up? And you misspelled that obscenity , so you must not have gotten very good grades.