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LOL. Yes, thank you!
You're not going to get rid of algos - until you get rid of US Empire.
Algos, as Wall Street, serve the US Oligarch Elite and its minions.
Someone blow it up - please!
I am/was the 0.01%!
Aaaaaaaand, it's gone - it's all gone...
Out of "fairness" they banned short selling too ;-)
That's bullshit closing down their accounts, all they were doing is adding liquidity to the market.
Algo's die if electronic trading goes away and we're back to pits once again. I used to be a pit trader, I miss that life and would gladly move back to NYC if reinstated.
You cannot have this much vol and flash crashes with pits, humans take time to move. Fuck algos!
While I agree with you in principal - two words: "portfolio insurance".
Insurance is an illusion when the too big to fail, fail.
Well, if we could get all the Russian and Asian criminal mathematicians out of the “Empire” then we could put a big bent in Algos. Just saying…
Doesn't take long before the first "It's somebody else's fault" comment is posted. Ura Bonehead.
Obama can fix this problem......apply the buffet tax to the leaders.....give it to those not as fortunate, problem fixed.
When Diamond Jim Brady was asked while playing a game of Bunco at a saloon, "Don't you know this game is rigged? He replied "I know. But it is the only game in town!"
'We apologize for any inconvenience, but fundamental fairness compels us to take this action.'
(only when fake money is at stake)
Otherwise a perfect illustration of just how fucked the real markets are?
i bet it was the waddell & reed mailroom clerks.
That you homebreaker Becky? I heard you were away taking an extended bath with Uncle Warren?
LMFAO. CNBS losers
Bob Pisani would say, "What's important here, is someone was winning."
"The important thing is" - then a bunch of made up bullshit
Brawndo: The Thirst Mutilator
Not sure if the dude in the video is Jack Welsh, or Hank Paulson.
I love how they're obviously giving prizes away to the cheaters anyway. Just like the political system...fucking idiots.
That's the way the American world works now.
calling it the 'american' world is either incredibly arrogant (if you're referring to the entire world) or incredibly short sighted (if you're referring to only the U.S. as trading microcosm in the larger world market). It seems like the rest of the world engages in some really shady/stupid trading practices, including the particular practice mentioned above. The banks that run our economy run the rest of the world's economy too... but it's hardly fair to call them "U.S." banks... Fiat banking has been around since the Roman empire started devaluing its currency near the fall. Some of the same bankers that started controlling banks and money in Europe founded banking in the United States as well ("Give me control of a nation's wealth and I care not for its Laws").
This seems to be a common phenomenon amongst us Americans, we tend to forget that the rest of the world has been around, for the most part, alot longer than we have, in the Nation sense. Even those of us who are incredibly disgusted with the politico-economic processes that happen in our country tend to forget that these practices are in no way new or original around the world. Centralized banking and complete government control of the market is as old as markets, Government lying to its population base and controlling the media is as old as those intstitutions as well. This problem, the problem that occurs when the many put power of any kind in the hands of a few (willingly or otherwise), is not an American problem, it's a human problem. If we 'fix' this problem inside our own borders it doesn't follow that the problem is fixed.
Great!... Now you are going to tell me that Americans didn't invent slavery?
they weren't 'cheaters'. they were just gaming the system according to the environmental cues given them, just like the rest of us.
No 'clawback' recourse even in fantasyland. Dammit it all!
there goes my legit 40% gain buying bullish positions!
Investigation of this CNBC bullshit game is 1,000,000 times more likely than investigation of the real frauds and criminals on Wall Street.
Yeah, I'll bet the SEC "tech pros" swarmed CNBC HQ...not to enforce, but rather how they caught the problem.
I joined the game a week late and the leaderboard was then filled with "players" (machines?) who had already doubled their notional $1 million stake. There was no one on the board who had not added $1 million in seven days.
You figure the average CNBC viewer is a Jim Cramerite who applies his genius to pick stocks (or follow tips) that will give him a stupendous 10% gain in the course of a year and you wonder .. eh ... huh?
If a CNBC game can discover scores of instant millionaire traders, may I suggest CNBC hire these "people" and shift to a whole new new biz model?
Bank of CNBC? CNBC Hedge-arama? Goldman Sachs, CNBC Division?
BTW, here are some more technical glitches in this game:
(1) Restricted roster of available exchange listings
(2) All buys at market, all sells at market.
(3) No stop loss.
(4) No control over lot size fulfillment. 10k share orders fill at 5k.
(5) Buy-sell without CNBC price quote - assume it's realtime, assume it's what you think it is!
Hey! it's just a game. But let's see the winner's trading tickets.
#3 is clearly a bullshit rule.
Oh, and ========== FUCK THE FED =============
I would have liked more trading platform-like capabilities like stop-losses, limit orders, etc. If the rules would be evenly applied to all, then it would be fair, and I could accept the limitations. However, if the system allows unfair advantage by cheaters, then I have a problem.
Really though all that stuff is antiquated shit ... they are in reality bad algos which are preyed upon by the good algos.
We already have Goldman Sachs, CNBC division.
The E*Trade link leads to a removed video. This one works: http://www.youtube.com/watch?v=AYrpROr9Gmk
So easy even a Cave-bot can do it.
And here I was trying to compete with my Tandy 1088 with dial up SVC.
My Tandy TRS-80 Model 102 still works. I no longer use it for trading but it's great for plugging into the data port of an old orphaned CNC machine in case the display is dead. I can crank up the machine and test operate it to see if it's worth upgrading with a new controller. I have no idea what I I'm going to do if it dies. Modern computers simply can not be connected to these old controllers.
Fond memories. Our team has a circa '98 Data General laptop, DOS, for the same purpose.
check the '98. Meant '91. Getting old...
Crap! I used to use those things. Had one up until about 5 years ago and sold it on Ebay. That's probably the only place to find one again these days. You can use searchtempest.com to search Craigslist countrywide too. Now I'm waxing nostalgic for Tandy...
It's actually a good dry run for the people in the lead, for in their real life.
cheaters always win
Simple solution: Shoot Them!
It worked in the west, it'll work in the east.
Nothing Like a Good Hanging to Focus the Mind
Especially now that CNBC is finally 'crackin' down'
and reset to zero and start all over again. It is more profitable that way.
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