Sure Jim, traders will whine: <“As a trader, there’s a frustration around feeling like you’re being gamed”... > If they don't know who the sucker in the room is, then it's them. Said trader should get a job more suited to their talents. My car needs cleaning, house painting and trees pruning. They could try that.
Yes, the trader is being gamed, by people with PhDs in mathematics with huge budgets available to buy computers, software and access. If said trader wants to take them on, said trader had better be a remarkable trader.
Yes, technology can fail and will when Net Neutrality makes it illegal to stop the internet going into Netilepsy, which would be an excellent gaming strategy for those supersonic million mile a minute computers to try - that would panic the rubes then the supersonic computers could open the valves and nab the trades as the panicked dump their stocks. They could model the regulators' trade-canceling behaviour too, to maximize returns when trades are canceled. It's very nice of the regulators to boost the supersonic million mile a minute traders' profits even more.
Here is a hint for Ms Reynolds; if she wants to buy or sell something, she will have to say what she wants to buy or sell <She also knows that the HFTs are bluffing: their orders are an attempt to get her to reveal what she wants to buy and sell. > Here's another hint, nobody will buy it if they don't know whether it's a house, some shares, a dog or a pound of bananas. Here, free for the taking, is yet another hint - she will have to give a price at which she will buy them or sell them, or accept an offer which is being made at a particular price. If a fast computer beats her to the offer, she does not have to accept a higher offer. She can just wait, for more to be offered at that price. Or, she could put an offer to buy at that price and leave it sitting there for a seller to notice.
Maybe she is just whining that her computers and brains are too slow to figure out what prices to offer and accept.
I have some QCOM shares for sale, $82.82. Send money, they are yours. See - simple. Just tell people what's for sale and they can agree to buy them or not. I will also buy a Tonka Truckload of them for $32 a share - ship them over and I'll deliver cash on the barrel-head.
You are welcome to use a supersonic million mile a minute computer to do the trades for you if you like. No worries. Or carrier pigeon if you prefer. Snail mail okay too.
What? Me worry?
Mqurice |
