December 14, 2015
Once upon a time, there was a small trading firm with about 40 active traders. Working there, was a bright, kind and fair trader named John. In short, John was a wonderful guy. He was elected head trader. John made sure disputes on the floor were handled in a fair manner.
Trading is a "big boys" game. The success rate for traders was around 45%. 45% of traders were still actively trading after 3 years.
It was a happy and healthy trading floor, where traders focussed intensely, employing various trading styles in attempt to make profitable trades. The floor traded 4.5 million shares daily.
Then the SEC let the largest of financial institutions aid in restructuring the Markets. There is no need for the ugly details. It is crystal clear the Markets greatly favor the richest and largest firms.
The small trading firm is now gone. There once was many floors like John's. It's too bad. We helped add real liquidy.
Please, please fix the Market