4 ms·

I'm not an expert either. I have know two successful traders. By successful, I mean they made a living, and were employed. Both barely passed the series 7 ex

I'm not an expert either. I have know two successful traders. By successful, I mean they made a living, and were employed. Both barely passed the series 7 exam. They both used inside information when trading. Both were in denial. Both had a lot of money. A lot of it in the Cayman Islands. I still see a lot of inside information being thrown around. Hell, the only real money my deceased father made in the market was off an insider tip from his father in-law. My father asked me, "Should I do it?" Me, "Dad--you literally broke your back with honest construction work, and only certain members of your family appreciate what you put your body through. Yes--do it, and enjoy the money!" That said, I'm a little jaded when it comes to stock trading. I basically believe most are cheating. Since I don't believe there are honest traders(not day traders who did well in bull markets), doesn't mean they don't exist? Why should an honest trader pay more for a stock just because Computer that is physically close to one of the exchanges sees his order? I don't want to argue with anyone. Preventing HFT trading, or at least the guys who are trying to literally sit on the exchanges seems like an easy fix? I don't know why they don't stop it?

kasey_junk 11y ago
> Why should an honest trader pay more for a stock just because Computer that is physically close to one of the exchanges sees his order? It is not possible to see any traders orders before they execute on any exchange that I know of. Regardless of colocation, custom built asics etc. That people believe this is possible is largely down to a lack of understanding of how exchanges work and the fact that many powerful market participants (hedge funds and ibanks) are natural competitors to HFT firms. > I don't want to argue with anyone. I completely understand and commiserate, that said I hope it doesn't count as arguing when you clear up factual incorrectness rather than opinions.

kasey_junk 11y ago

> Why should an honest trader pay more for a stock just because Computer that is physically close to one of the exchanges sees his order? It is not possible to see any traders orders before they execute on any exchange that I know of. Regardless of colocation, custom built asics etc. That people believe this is possible is largely down to a lack of understanding of how exchanges work and the fact that many powerful market participants (hedge funds and ibanks) are natural competitors to HFT firms. > I don't want to argue with anyone. I completely understand and commiserate, that said I hope it doesn't count as arguing when you clear up factual incorrectness rather than opinions.