A long read, but worth it…
Time is money
wow, great read. well worth the time.
We don't know what our limits are, so to start something with the idea of being limited actually ends up limiting us.
Ellen Langer
I've heard a lot about this before. It pretty much would stack the odds too heavily against a human day trader for their to be a point in doing anything other than sticking in for long term trades. Correct?
Wired had a good (also long) article about this and the tech being used to cut down the transmission times a couple of years ago.
Raging Bulls: How Wall Street Got Addicted to Light-Speed Trading
I've heard a lot about this before. It pretty much would stack the odds too heavily against a human day trader for their to be a point in doing anything other than sticking in for long term trades. Correct?
From the Wired article:
Its not just that humans are less and less involved in trading; its that they cant be involved. By the time the ordinary investor sees a quote, its like looking at a star that burned out 50,000 years ago,
This is still one of my favorite TED talks. Its a couple of years old but it was the first time I'd heard about algo trading and how connection speed matters so much.
http://www.ted.com/talks/kevin_slavin_how_algorithms_shape_our_world
60 Minutes story about HFT
go canada!
We don't know what our limits are, so to start something with the idea of being limited actually ends up limiting us.
Ellen Langer
seems like they were late to the party for one unfair setup so they made their own and were first at it
seems like they were late to the party for one unfair setup so they made their own and were first at it
their "system" makes it fair for their clients, aka you and me. the HFT people were in it to make money for themselves, that's a big difference.
We don't know what our limits are, so to start something with the idea of being limited actually ends up limiting us.
Ellen Langer
Funny that this is all making the news now. I saw that TED talk quite a while ago, and back then you couldn't find much other reliable info, but the bits and pieces that were out there were talking about the damage this would do to the market.
If you want to put on your tinfoil hat, ask yourself this: How much money has the federal govt in the US been pumping into the so called recovery. Your regular Joe hasn't seen much, if any improvement, yet the stick markets are at all time highs. At the same time, HFT has expanded to take over most of the trading. Did we, as taxpayers, directly fund these crooks?
Charles Schwab issued an open letter on the damage this is doing to everyone else.
That's the problem with cities, they're refuges for the weak, the fish that didn't evolve.
I don't want to google this - sounds like a thing that NSMB will be better at.
I read a paper today that gave examples of the "take" from this level of HFT front running, on just the NASDAQ. Try $160 million, per day.
Per day.
Yeah, that number was mentioned in the OPs article
Why slag free swag?:rolleyes:
ummm, as your doctor i recommend against riding with a scaphoid fracture.
Funny that this is all making the news now.
It is hitting the news because Michael Lewis is pumping his book. Ironically, it is the free market that is shining a light on the subject.
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