Sometimes, when people need to make a clean break, they need to make a clean break.
Friend of mine used to be a manager at Blockbuster video. Every month or so someone would get enraged by late fees or some other thing and would get to my friend and ask to close their account. My friend would explain it can't be done, and the person would stomp out, even more enraged.
Funny part is, usually those people came back and rented movies again after a while.
Maybe there's a piece of information in this quote from the article that could help to better understand things:
The charges filed against two members of the group, Pranav Patel and Vikas Patel, include first-degree felony counts of computer crime and larceny as well as felony rigging charges.
Such as that Guy who keeps on posting Left/Right leaning political posts at the point of nausea.
I quickly learned to use the "mute" feature in Facebook because of those idiots who post zero impact political comments. You know, those comments that won't convince the other side and that people who already agree with the position don't need to read, yet idiots keep posting that and no doubt high-five themselves as they re-read their masterpiece.
No trading platform can tell the difference between a HFT system and a bunch of individual day traders, each with a slightly different estimate of equity valuation.
Yeah, and also Gmail can't tell the difference between a spammer who sends one million emails from his Gmail account and one million Gmail users who each send a slightly different message. Technology is so mysterious.
'Power trader' accounts are easy to get. Every trading system and brokerage is falling over themselves to get a piece of the high volume, low margin business. Just start a rumor that your platform is throttling trades and business will go elsewhere.
Okay this kind of bullshit may work when you want to impress your teenage cousins at Thanksgiving dinner but my advice is, get some basic understanding of how retail trading works before you try to talk at the grown-up tables.
No. What I suggest is that the press should report the arrest. "Mr X has been arrested for a Y charge".
Unlike the "Mr X may or may not have been alleged to possibly have been said to have been involved in what some people might consider to be identified by the police as Y" approach which amounts to cowardly gossip.
Front-running and cancelling huge orders to artificially move prices are two different things. That's why this guy will go to jail and investment bankers who do HFT won't.
I hope he posted his software to github.. if Anonymous got ahold of it, there would be too many cases to prosecute and the financial industry would just have to fix things properly.
Good idea. That way it will be just like with the Paypal thing where a bunch of noobs who didn't know better got caught for using a freeware DOS tool that doesn't hide their IP address.
In this case who cares if a few people get 387 years of jail time; as a great man once said, "blood alone moves the wheels of history".
Why are you delighted? It's like having a "may contain nuts" sticker on pretty much anything you buy at the grocery store just to cover the ass of the manufacturer. You may find it cute the first time but when you see it on tuna cans and such, it gets old real quick.
If your 401-k participates in an exchange that allows HFT, then you are part of the problem. Don't talk trash here unless you are willing to put your own money where your mouth is.
Exactly. People bitch and moan about this kind of stuff, or about those greedy corporations who only think about short-term profits, forgetting that the loudest voices that demand immediate profit are institutional investors, such as pension funds.
There's little doubt that many people who lost their job to offshore workers or visa workers ultimately got fucked by the people managing their retirement money. People who are unhappy with the lack of innovation and quality in recent years at Apple or Microsoft are also in the same boat.
It is very difficult to be part of the system without getting fucked by the system one way or the other. Unfortunately so far nothing else has proven to be a viable alternative. The best solution is to become wealthy enough for it not to matter.
Exchange rules won't let your lower bids fill before your highest bid.
I don't even think there's a trading platform available to the public that would let this kind of thing reach the exchange. That's like trying to wire negative amounts with e-Banking to steal money from someone; it would be surprising to see that kind of operation even reaching the clearing house.
You place a bunch of orders, spread across a price range. When you see which prices attract bids/offers, you quickly cancel the less lucrative offers. That's the simple explanation for what is a very complex game.
No trading platform will let you do that. If you want to do something legitimate in that spirit you could consider bracket trading with a very low span, but unless you work for an investment bank your orders will be batch processed via one of the big brokers like KCG and that means at the very leasts a few seconds between submitting and processing (unless they have more errors in their batch files). You'll also need to put pretty big orders to make a profit after the double fee.
Moreover if you trade a lot real quick without a power trader account you'll get red-flagged and your orders will probably end up in the manual approval queue which means you'll miss the boat.
Based on past experience this kind of situation can lead to holes being punched in the wall of your home office so the conclusion here is that unless you can afford a high-frequency link (which you can't) don't try to play with the big boys, that's like trying to beat slot machines.
Like anything that happens in the corrupt UK or US, the only thing Sarao is guilty of is not already being a wealthy insider. Algorithmic traders do this exact thing a trillion times every trading day. Banks did soo much worse.. and yet none of the banking executives are sitting in jail.
That's not what the guy did. What he did was place huge orders then cancel them to cheat on quick pricing fluctuations caused by his own fake transactions. This is not only dishonest, this is outright illegal, and it's not something legitimate investment banks do.
Let's not make every story about thieves and scammers a general complaint about the financial services industry otherwise actual issues will get lost in the noise.
Roosevelt committed crimes against the economy and against the American people, and got away with it. There's quite a backlog when it comes to politics, Bush is minor leagues at best in that list.
Works on my fedora machine. Was a bitch to get it to work properly (pipelight etc), only manage to do it on FF and the behavior isn't as smooth as on Windows when I resize or fast-forward but it works.
If you're a moron with no legal background why post like you're a lawyer?
Why don't you explain in what way my statement is incorrect? Of course you can't. You just want to hitch your wagon to the general ignorance, it's a lot easier.
There are a number of Christian terrorists like those who bomb abortion clinics in the US
Worldwide there's been TWO HUNDRED terrorist attacks by islamists with a combined death toll of 1000+ this year alone (and we're barely in March) but there's been ZERO abortion clinics bombing. Actually, in the US there's been no abortion clinic bombing in like 10 years, and most of those who happened in the past had none or very few victims. It's not a fucking secret it's all there on Wikipedia.
So before you tell people that their examples are poor and illogic, check your facts.
Tell me - why is it ok, for example, to say that domestic violence is bad and that it's mostly men who beat up women, but it's "hatred" to say that terrorism is bad and that it's mostly Muslims who commit such acts of violence? In both case EVERYONE knows that it's not the majority of the specified demographic segment that is guilty. Going on Bill Maher's show and warning people against "putting all Muslims in the same basket" is not commendable, it's politically correct bullshit.
There's a serious issue with islamic terrorism right now, there's people beheaded, journalists killed, people tortured, women sold in sex slavery and entire towns decimated, not mentioning the slow but constant destruction of the entire arab and persian civilizations, and it's far worse than what is reported in the liberal media because it's "hatred" to talk about it.
Fuck that hypocrisy. It's like that situation in Rotherham UK where 1,400 children were subjected to a pakistani pedophile ring for a period of TEN YEARS because the authorities were afraid to be called racists if they were to intervene. Look it up and see what the lunacy of politically correct bullshit can lead to.
Yes pick a country under the midst of civil war that has among its participants those who were not from Syria at all.
What's going on in Syria is not a mere civil war, it's the culmination of a 2000 years old fight between two Muslim factions: the Shia (Iran, Hezbollah, Syria's government, Iraq's majority, etc.) and the Sunni (ISIS, Al Qaeda, the Chechens, etc). The extreme violence of the last decades has been precipitated by the overall geopolitical situation and by blunders in the US foreign policy (such as pushing out the pro-Saddam Sunni minority from the Iraq government after the invasion, which radicalized a lot of people). But make no mistake: this war was raging for centuries before America started showing up on world maps. This is a Muslim problem and we're all collateral damage. So save me the politically correct bullshit with the "hatred" and "singling out one religion".
Slashdot Mirror
Sometimes, when people need to make a clean break, they need to make a clean break.
Friend of mine used to be a manager at Blockbuster video. Every month or so someone would get enraged by late fees or some other thing and would get to my friend and ask to close their account. My friend would explain it can't be done, and the person would stomp out, even more enraged.
Funny part is, usually those people came back and rented movies again after a while.
People, pfft.
Maybe there's a piece of information in this quote from the article that could help to better understand things:
The charges filed against two members of the group, Pranav Patel and Vikas Patel, include first-degree felony counts of computer crime and larceny as well as felony rigging charges.
Slashdot, like Twitter, is a write-only media.
Such as that Guy who keeps on posting Left/Right leaning political posts at the point of nausea.
I quickly learned to use the "mute" feature in Facebook because of those idiots who post zero impact political comments. You know, those comments that won't convince the other side and that people who already agree with the position don't need to read, yet idiots keep posting that and no doubt high-five themselves as they re-read their masterpiece.
Deleting my Facebook profile years ago was the best thing I did that year.
What a waste of time/energy.
Yeah it was a waste of time, you could just have stopped using it.
No trading platform can tell the difference between a HFT system and a bunch of individual day traders, each with a slightly different estimate of equity valuation.
Yeah, and also Gmail can't tell the difference between a spammer who sends one million emails from his Gmail account and one million Gmail users who each send a slightly different message. Technology is so mysterious.
'Power trader' accounts are easy to get. Every trading system and brokerage is falling over themselves to get a piece of the high volume, low margin business. Just start a rumor that your platform is throttling trades and business will go elsewhere.
Okay this kind of bullshit may work when you want to impress your teenage cousins at Thanksgiving dinner but my advice is, get some basic understanding of how retail trading works before you try to talk at the grown-up tables.
No. What I suggest is that the press should report the arrest. "Mr X has been arrested for a Y charge".
Unlike the "Mr X may or may not have been alleged to possibly have been said to have been involved in what some people might consider to be identified by the police as Y" approach which amounts to cowardly gossip.
Front-running and cancelling huge orders to artificially move prices are two different things. That's why this guy will go to jail and investment bankers who do HFT won't.
Wrong. He *cancelled* his orders to manipulate price, that takes out the "trading" part of "high frequency trading".
I hope he posted his software to github.. if Anonymous got ahold of it, there would be too many cases to prosecute and the financial industry would just have to fix things properly.
Good idea. That way it will be just like with the Paypal thing where a bunch of noobs who didn't know better got caught for using a freeware DOS tool that doesn't hide their IP address.
In this case who cares if a few people get 387 years of jail time; as a great man once said, "blood alone moves the wheels of history".
Why are you delighted? It's like having a "may contain nuts" sticker on pretty much anything you buy at the grocery store just to cover the ass of the manufacturer. You may find it cute the first time but when you see it on tuna cans and such, it gets old real quick.
If your 401-k participates in an exchange that allows HFT, then you are part of the problem. Don't talk trash here unless you are willing to put your own money where your mouth is.
Exactly. People bitch and moan about this kind of stuff, or about those greedy corporations who only think about short-term profits, forgetting that the loudest voices that demand immediate profit are institutional investors, such as pension funds.
There's little doubt that many people who lost their job to offshore workers or visa workers ultimately got fucked by the people managing their retirement money. People who are unhappy with the lack of innovation and quality in recent years at Apple or Microsoft are also in the same boat.
It is very difficult to be part of the system without getting fucked by the system one way or the other. Unfortunately so far nothing else has proven to be a viable alternative. The best solution is to become wealthy enough for it not to matter.
Exchange rules won't let your lower bids fill before your highest bid.
I don't even think there's a trading platform available to the public that would let this kind of thing reach the exchange. That's like trying to wire negative amounts with e-Banking to steal money from someone; it would be surprising to see that kind of operation even reaching the clearing house.
You place a bunch of orders, spread across a price range. When you see which prices attract bids/offers, you quickly cancel the less lucrative offers. That's the simple explanation for what is a very complex game.
No trading platform will let you do that. If you want to do something legitimate in that spirit you could consider bracket trading with a very low span, but unless you work for an investment bank your orders will be batch processed via one of the big brokers like KCG and that means at the very leasts a few seconds between submitting and processing (unless they have more errors in their batch files). You'll also need to put pretty big orders to make a profit after the double fee.
Moreover if you trade a lot real quick without a power trader account you'll get red-flagged and your orders will probably end up in the manual approval queue which means you'll miss the boat.
Based on past experience this kind of situation can lead to holes being punched in the wall of your home office so the conclusion here is that unless you can afford a high-frequency link (which you can't) don't try to play with the big boys, that's like trying to beat slot machines.
Like anything that happens in the corrupt UK or US, the only thing Sarao is guilty of is not already being a wealthy insider. Algorithmic traders do this exact thing a trillion times every trading day. Banks did soo much worse.. and yet none of the banking executives are sitting in jail.
That's not what the guy did. What he did was place huge orders then cancel them to cheat on quick pricing fluctuations caused by his own fake transactions. This is not only dishonest, this is outright illegal, and it's not something legitimate investment banks do.
Let's not make every story about thieves and scammers a general complaint about the financial services industry otherwise actual issues will get lost in the noise.
Roosevelt committed crimes against the economy and against the American people, and got away with it. There's quite a backlog when it comes to politics, Bush is minor leagues at best in that list.
At least they didn't give that one his own tv show
I think they don't allow it on purpose. They won't even say how many movies they got.
Works on my fedora machine. Was a bitch to get it to work properly (pipelight etc), only manage to do it on FF and the behavior isn't as smooth as on Windows when I resize or fast-forward but it works.
BTW season 4 of House of cards is awesome.
It's great. Congratulations on being one step closer to English proficiency.
Now, back to the original subject, where you're holding up bias as an indication of correctness. Can you explain your reasoning there?
You're not clever, you're tedious.
Your explanation is idiotic. How's that for not ad hominem?
Name one president in the last 100 years that was elected by the Christian right (before Bush Jr).
If you say Reagan you're rewriting history.
If you're a moron with no legal background why post like you're a lawyer?
Why don't you explain in what way my statement is incorrect? Of course you can't. You just want to hitch your wagon to the general ignorance, it's a lot easier.
There are a number of Christian terrorists like those who bomb abortion clinics in the US
Worldwide there's been TWO HUNDRED terrorist attacks by islamists with a combined death toll of 1000+ this year alone (and we're barely in March) but there's been ZERO abortion clinics bombing. Actually, in the US there's been no abortion clinic bombing in like 10 years, and most of those who happened in the past had none or very few victims. It's not a fucking secret it's all there on Wikipedia.
So before you tell people that their examples are poor and illogic, check your facts.
Tell me - why is it ok, for example, to say that domestic violence is bad and that it's mostly men who beat up women, but it's "hatred" to say that terrorism is bad and that it's mostly Muslims who commit such acts of violence? In both case EVERYONE knows that it's not the majority of the specified demographic segment that is guilty. Going on Bill Maher's show and warning people against "putting all Muslims in the same basket" is not commendable, it's politically correct bullshit.
There's a serious issue with islamic terrorism right now, there's people beheaded, journalists killed, people tortured, women sold in sex slavery and entire towns decimated, not mentioning the slow but constant destruction of the entire arab and persian civilizations, and it's far worse than what is reported in the liberal media because it's "hatred" to talk about it.
Fuck that hypocrisy. It's like that situation in Rotherham UK where 1,400 children were subjected to a pakistani pedophile ring for a period of TEN YEARS because the authorities were afraid to be called racists if they were to intervene. Look it up and see what the lunacy of politically correct bullshit can lead to.
Yes pick a country under the midst of civil war that has among its participants those who were not from Syria at all.
What's going on in Syria is not a mere civil war, it's the culmination of a 2000 years old fight between two Muslim factions: the Shia (Iran, Hezbollah, Syria's government, Iraq's majority, etc.) and the Sunni (ISIS, Al Qaeda, the Chechens, etc). The extreme violence of the last decades has been precipitated by the overall geopolitical situation and by blunders in the US foreign policy (such as pushing out the pro-Saddam Sunni minority from the Iraq government after the invasion, which radicalized a lot of people). But make no mistake: this war was raging for centuries before America started showing up on world maps. This is a Muslim problem and we're all collateral damage. So save me the politically correct bullshit with the "hatred" and "singling out one religion".
You manage to put "ad hominem attack" and "stupid" in the same message. I could make a clever reply but the facts speak for themselves.