The Stock Market had become an Illusion...

Those exchanges should be forced to provide native good after time orders to fix the issue he talks about.

Then all the orders go live at the exact same time and cant be front run.
 
All of this HFT unfair bitchy talk bs...is ...irrelevant to a good trader o_O o_O

That is all peanut crumb scalping only -- completely doesn't affect you,
 
lawrence-lugar said:
All of this HFT unfair bitchy talk bs...is ...irrelevant to a good trader o_O o_O

That is all peanut crumb scalping only -- completely doesn't affect you,
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@dealmaker

You both don't know what you're talking about. Try to buy for 100m$ worth of a mid-cap security, have a look at how much slippage will cost you and then we talk.
 
wintergasp said:
@dealmaker

You both don't know what you're talking about. Try to buy for 100m$ worth of a mid-cap security, have a look at how much slippage will cost you and then we talk.
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1) I have not heard of any retail trader buying $100M of stock 2) institutions do not buy in one day or at one shot 3) even in the days prior to HFT you'd have experienced substantial slippage if you bought $100M worth of stock in one shot/ one day, floor traders and day traders of the time would have had a field day on you.
I am not an advocate for HFT, not that they need me but they are not going away so why fuss about it.
 
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A genuine 100M$ trade would be given to an institutional broker. They would send it to their algo desk and apply some algo to it and it would get done. Depending on the name it could take day(s) and certainly there would a cost, but these trades get done every day. The desk would look at the name - have a sense of it's liquidity - call around to any known existing sources of liquidity and get it done. I suspect the overall trade would start with an exchange/ats sweep. Very likely the broker would have their own ats.
This kind of reinforces Brad's point. However he's wrong when he says the market is an illusion - it's visible size that is an illusion. Back to the concept of a more centralized marketplace, but the genie is not going back into the bottle
 
dealmaker said:
1) I have not heard of any retail trader buying $100M of stock 2) institutions do not buy in one day or at one shot 3) even in the days prior to HFT you'd have experienced substantial slippage if you bought $100M worth of stock in one shot/ one day, floor traders and day traders of the time would have had a field day on you.
I am not an advocate for HFT, not that they need me but they are not going away so why fuss about it.
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Heh, well, there's always BRK.A You'd need only ~400 shares of that to be a $100M trade. How would HFT work on that stock? :-)
 
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