I intend no value judgement by the use of the word "predator", it's simply a technical term. I'm strongly in favor of predatory trading - it prevents institutional investors from screwing over the little guy by hiding big trades and forcing their counterparties to suffer the price impact.
I'm not implying that there is 0 market impact from trading odd lots. The market will adjust to the new information. It's just that the guy looking at the consolidated feed will not be making a profit by helping it adjust.
I'm not implying that there is 0 market impact from trading odd lots. The market will adjust to the new information. It's just that the guy looking at the consolidated feed will not be making a profit by helping it adjust.