This is 10 seconds worth of computerized trading done on BlackBerry spread over 3 and a half minutes. Makes the old buy and hold adage seem so quaint when the computerized hold period is a few milliseconds.
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Boo! No sound! No matter, they can fix it in post —
http://youtube.com/watch?v=SbYvxodgWb4
I know nothing about trading but I’d think that some sort of transaction fee is still going on in all that Drox Operative glitterati?? Is that in the display?
Just Look. There it is. No financial benefit at all===JUST PURE SKIMMING!!
I think I read you have to “buy” a “seat” in the trading house or something like that to have the right or ability to connect to the trading computers. Like I said===PURE SKIMMING.
The money they take is……… ours.
Easy rule to fix===just outlaw it. Easy to do. Easy to enforce.
or change the tax incentives to do so.
or tax it directly.
Or……. say that AGW doesn’t exist either and let the FLERP’s shut down our country next week for the Freedom of it All.
Stupid Hoomans.
The money they take is ….yours. I had a client a few years ago, a day trader, Wall Street genius type, who sat in his 26 Million dollar beachfront home in the Caribbean, did nothing but smoke dope and make money. He averaged $35K per day. He held zero stock at the end of the trading day.
It’s exactly why I don’t invest one nickel in Wall Street…there it is. I only invest in tangibles.
Level the playing filed and I may return one day.
What was his formula for success?
I wish I knew the answer to that. The guy was intense, 5 computer screens, on the phone talking incessantly making deals, smoking pot, offering me stock advice. I was somewhat awed by his bizzaro lifestyle, yet I pitied him in a way, I think he was enslaved by his love of money. He had one of the most beautiful beachfront properties on St. John…and I don’t think he even knew it.
And, I think he was an alien.
Financial services is one of the top markets of high end CPU’s at Intel. Competition is measured in milliseconds. Yep, the whole notion of Wall Street is skimming. Nothing is produced or consumed.
A current suggestion is to add a transaction fee that is weighted enough to make it unsound economically. But then the gamers will just figure out how to game THAT system. It seems to be in our nature to game any system we create or come into contact with.
Easily and naturally done in a system that is essentially a game to begin with. They call it ‘playing the market’ for a reason. But games have rules and when the players get so adept at bending these rules that they profit from this..loophole, then it’s time to reexamine the rules…as well as the players bending them.
I’m not sure but I think I totally agree with bobbo
High speed arbitrage. It doesn’t add any liquidity into the markets which is what speculators should be doing. It’s the death of free enterprise.
How come it slowed down? I guess high speed stock trading is still keeping its pace until now.