If one outlawed / disincentivized hostile the bot behavior you described, there would still be the opportunity to do the good and profitable things I described.
These commenters have no clue what they are talking about. You don’t need to worry about hostile behaviors in the way they claim. These HN individuals are not domain educated and are spouting highly uninformed nonsense. Silly ideas like market orders take liquidity and limit orders provide it show an extremely rudimentary familiarity with only basic terminology of the field and with no understanding of the extremely dynamic and complex nature of modern capital markets. For instance they don’t realize that most longer term managers execute as much as 80% of their orders as passive limit orders, yet they are the ones that are actually liquidity demanders not suppliers.
> These HN individuals are not domain educated and are spouting highly uninformed nonsense.
Yeah, this is highly frustrating particularly for people like me who don't know anything about the domain i.e. HFT/Trading and would like to know more.
Can you recommend some good introductory books/resources ?
I might be biased for some almost personal reasons, however I think there is one book that anyone serious about the field should just read, period.
“Trades, Quotes and Prices”
Authors:
Jean-Philippe Bouchaud, Capital Fund Management, Paris, Julius Bonart, University College London, Jonathan Donier, Capital Fund Management, Martin Gould, CFM - Imperial Institute of Quantitative Finance.
Just FYI for others; the full name of the book is "Trades, Quotes and Prices : Financial Markets Under the Microscope".
Looks like a very comprehensive book though somewhat advanced for me at my current level. Do you have a more beginner level book/resource recommendation to go with this where from i can get an overview and familiarize myself with the jargon?
