America needs a microtransaction tax. Like .0001% per trade. There are parasitic High Frequency Traders that sit on the wire, intercept a trade, and then siphon a bit off the margin. They offer no value and just drain the market. A microtransaction would put the parasites out of business. American treasure Michael Lewis wrote about these parasites in his book Flash Boys.
Read/Listen to Flash Boys by Michael Lewis (the same author of The Big Short, Moneyball, etc.). It's all about this, only in an engaging narrative form vs this report style. Flash Boys: A Wall Street Revolt: Lewis, Michael: 9780393351590: Amazon.com: Books
For anyone wondering what "only non-rigged exchange" means, and why IEX is the only one such exchange, read/listen to Michael Lewis' book Flash Boys: Flash Boys: A Wall Street Revolt: Lewis, Michael: 9780393351590: Amazon.com: Books
HFT for retail investors is ded. Seriously, DeepFuckingValue did master class on value investing (like young Warren Buffet) why not do that?
Most low-liquidity crypto volume is wash trading by a bot or some dude....you are going to be really sorry.
It’s insane how unaware the public was about order flow. Flashboys - this is what Michael Lewis’s wrote about years ago. https://www.amazon.ca/dp/0393351599/ref=cm_sw_r_cp_api_i_JM04HH3QFD2HED4G82SA
If you wanna get slightly less fucked on a disc brokerage trade, put an order in well below the last trade if you don’t have quote depth to see the various orders. Sit and ignore any movement in the bid/ask it’s a bologna nudge a lot of the time by market makers who know what you’re bidding.
It’s only not illegal because regulators are completely inept.
You should read Flash Boys: A Wall Street Revolt and see how it's also done by Wall Street. The big boys essentially cheat through micro front running across millions of transactions coupled with fees and what not. The computer trading too is very highly sophisticated so as to make lots of trades that garner lots of small increases across the day and across international markets and to take advantage of cascade events across international markets.
https://www.amazon.com/Flash-Boys-Wall-Street-Revolt/dp/0393351599
From my understanding a lot of the time they just get in between a legitimate buyer and a legitimate seller and skim from the transaction. They take advantage of the lag between exchanges and buy from one and sell to the other. Smart business but not exactly a service .
Probably talking about Flash Boys by Michael Lewis https://www.amazon.com/Flash-Boys-Wall-Street-Revolt/dp/0393351599 a quick interesting read about HFT.
It's crazy that anyone thinks a stock market floor full of people shouting still exists or that any of it is centralized. I highly recommend reading Flash Boys.
You should read Flash Boys. What's scary is when you realize that book is years old and tech has continued to follow or outpace Moore's Law.
https://www.amazon.com/Flash-Boys-Wall-Street-Revolt/dp/0393351599
Scroll down for a review Flash Boys: A Wall Street Revolt https://www.amazon.com/dp/0393351599/ref=cm_sw_r_apan_glt_i_3NJES915SNMYGNQ67FQ2?_encoding=UTF8&psc=1
All good brother. Unrelated, but if you are interested in the market and you lay fiber cables, you should read Flash Boys. It is a fantastic story that I think you would really enjoy. Flash Boys: A Wall Street Revolt https://www.amazon.com/dp/0393351599/ref=cm_sw_r_cp_api_glt_fabc_66CPMCGE04VKRVX7FKEZ
Read this. The story of how IEX came to be. It will blow your effing mind. https://www.amazon.com/Flash-Boys-Wall-Street-Revolt/dp/0393351599
I assume you mean this? Flash Boys
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Have you read the book Flash Boys? The hero of the story, Brad Katsuyama, found out what exchanges were doing by bringing in job candidates from those other companies. They "interviewed" the candidates to get ideas about the strategies they use.
Robinhood is probably like a dark pool where trades come in from all of us, computers spot a trend, and preempt the order to win a few cents. There's a reason Robinhood is free. Read Flash Boys to learn more about how "the best price" is a crock: https://www.amazon.com/Flash-Boys-Wall-Street-Revolt/dp/0393351599