I have been waiting for the arrival of my copies of "Broken Markets: How High Frequency Trading and Predatory Practices on Wall Street are Destroying Investor Confidence and Your Portfolio" and I can say the wait was well worth it:
I was fortunate to have been at the Big Picture Conference last October when co-author Sal Arnuk gave a presentation. I was blown away then and the book more deeply covers the ins and outs of high frequency trading and the lengths to which the practitioners go to to fleece money out of the market.
Any book I recommend here not only gets my absolute approval, but I also give some away. If you would like a free copy of "Broken Markets" here is how it works:
-Email me your own personal story about the May 2010 'Flash Crash'. Be as specific as possible as far as prices and market operations (no need to discuss position size, dollar amounts, etc)
-Email me any observations you have seen looking at orders and fills that can be attributed to HFT quote games.
The best two submissions will be reposted in a blog and I will get back to you for a mailing address.
That's all, free books!
Congratulations to both Sal Arnuk and Joe Saluzzi of Themis Trading.
Have a good night.