Quote taken from Zero hedge below, Please click through to get the full article and listen to the interview. It is refreshing to see the internet get out insider view of what is a complex and high stakes game being played.
Joe Saluzzi, co-founder of Themis Trading LLC and outspoken exchange expert, is concerned with how high-frequency trading has brought the capital markets into uncharted - and dangerous - territory.
"Things have changed," he cautions. With 50-70% of all trades being conducted by algorithms at micro-second time intervals, real human traders are increasingly challenged to understand how our markets actually work. "No longer do the technical patterns - that have lasted for years and years, and are written about all over - work anymore."
How the average trader is destined to lose in today's market, while the big banks & HFT firms who can afford to win the arms race are making essentially-guaranteed profits.
Folks we are not victims to the system, unless we allow it. Only if we demand to change processes will this be stopped. And since people are reactionary I don't see that occurring. So I see a crisis far worse than 2008 in our future, as the arms race escalates until the system breaks.