the natives are restless. HFT SCUM on the run?

rew..would it be better, if everyone can see same quotes at same time? would it be better if there is no 2 tier market with 80+ trading venues, but just 1-2 exchanges? would it be better,if everyone can place orders with only 2 digits after decimal points,not 10 or 20?
would it be better, if bots are not allowed to place meaningless 10000 orders to buy\sell\cancel per second?
i know, i know..the world is not fair,trading is very competitive business,i should adapt and not everyone created equal..but i personally think that all above are very simple steps, that will make trading more transparent,fair and easier to regulate. are you disagree?
 
Quote from Bob111:

rew..would it be better, if everyone can see same quotes at same time? would it be better if there is no 2 tier market with 80+ trading venues, but just 1-2 exchanges? would it be better,if everyone can place orders with only 2 digits after decimal points,not 10 or 20?
would it be better, if bots are not allowed to place meaningless 10000 orders to buy\sell\cancel per second?
i know, i know..the world is not fair,trading is very competitive business,i should adapt and not everyone created equal..but i personally think that all above are very simple steps, that will make trading more transparent,fair and easier to regulate. are you disagree?
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I am not here to defend every practice of the HF traders. In an ideal world we would all see the same prices at the same time. In the real world, where it takes milliseconds for light to get from New York to California, there will be moments where a price is a penny higher in one place than in another. I don't know about you but for my type of trading (and investing) that penny doesn't make a heck of a lot of difference.

I agree that it would be best if everybody in the market gets the same number of digits of precision in the prices. I can't think of any good rationale for not doing things that way.

And no, I don't think so-called quote stuffing does anybody any good -- it appears to be an attempt by some players to mess with the level II book so as to make it useless to other traders. I'm all in favor of rules to prevent the abuses.

But the main thing HF traders do -- identify very short term trends and front run them for a tiny profit -- does not seem to me to be so very different from what swing traders do, except on a much smaller time scale and for much smaller price differences. If what they do is evil then what day traders do is evil too. I think we got ripped off more badly by the old fashioned specialists.
 
I posted this on the forum on an ftt thread- http://www.elitetrader.com/vb/showthread.php?s=&postid=3249120#post3249120
zdreg

Registered: Oct 2003
Posts: 6186



07-27-11 12:13 PM
here is a possible Trojan horse for a FTT.
http://advancedtrading.com/articles/231002631
link was provided by tradator on another forum concerning HFT traders.
http://www.elitetrader.com/vb/showt...917#post3248917

if anybody on this thread ever called HFT traders scum etc. remember if they get a fee added to their trades you are next.

_________

this current thread is dominated by a bunch of whiners. if your wishes come true u will eventually be paying an FTT and will deservedly so be flipping hamburgers soon thereafter.

remember what goes around come around.

ps the specialists use to feed his family from people like the OP.
 
shills, no one gives a shit about a penny or two. hft scammers are moving the price 10-20 cents when they get a free, first look at an order.

sure, if you're trading on a long timeframe, it wont matter much, we know all about it.
 
Quote from stock777:

No need to take it so personally. When they shut down your scam, whatever it is, you can always go back to your previous employ

walmart.jpg
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Is that a self-portrait? After all, if you were succesful at trading, then why would you waste 1000's of posts whining about something you obviously know nothing about?

Actually, my guess is that the greeter's job is much preferable to those of most of the whiners on these forums -- in terms of both 2011 hourly pay and personal satisfaction. If so, maybe it's time for a new career path. The tradable markets are only getting tighter and more competitive. Seriously.
 
Quote from rew:

Most of the comments there would apply to any sort of trader, e.g.:
<i>
- There is no good reason these high volume, high speed traders should be allowed to continue to operate the way they do. They manipulate and distort the markets, taking profits away from regular investors while adding nothing of value. This is just another way to rig the game for the benefit of the few. Time to end it. Put a limit on the number of trades per day, and slow down the speed at which trades can be entered.</i>

<i>- No matter what they ‘want’ to be called, they are part and parcel of what a sick place America has become. They buy influence, and seek to buy even more. They contribute nothing to society of real value. They make a mockery of an honest day’s work, where men actually EARN what they get paid. And they fit right in with what is fast becoming one of the most easy-to-buy-off and hypocritical governments in the world.</i>

<i>- “As a group, they earned $12.9 billion in profit in the last two years”. I translate that as: – They skimmed of $12.9 billion of the possible gains of proper investors who invest in industry and commerce to allow them to create value for the world.</i>

When I recently made $1700 in a futures spread trade no doubt those same people would say that I was skimming money from investors without providing any value, that I didn't really EARN the money, that I was manipulating the markets, etc. Certainly the complaints would be even louder about the people here who trade in much larger size than I do (and no doubt, more successfully). So all this whining about high frequency trades from supposed "elite traders" sounds terribly hypocritical. You're just jealous that you didn't think of the HFT thing first.
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daytraders only steal from themselves in a zero-sum game. alot of daytraders are unprofitable. HFT are very profitable. because they are frontrunning. because they steal from investors.
 
Quote from Occam:

Is that a self-portrait? After all, if you were succesful at trading, then why would you waste 1000's of posts whining about something you obviously know nothing about?

Actually, my guess is that the greeter's job is much preferable to those of most of the whiners on these forums -- in terms of both 2011 hourly pay and personal satisfaction. If so, maybe it's time for a new career path. The tradable markets are only getting tighter and more competitive. Seriously.
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I love how these guys tell others how tough it is, implying they are successful and no one else is.
 
Quote from stock777:

I love how these guys tell others how tough it is, implying they are successful and no one else is.
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They are part of the more than 90% losers.
 
The tradable markets are only getting tighter and more competitive. Seriously.
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tell me about it..have you noticed spreads today on stocks? i track spreads on stocks i trade..guess what? they almost doubled today.
yeah...liquidity providers....tight spreads..they all fucking gone,right after i pressed my close all positions button..
 
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