Check out this article.
I've told you about the pattern recognition software, a family member of mine that works on a black box system and the millions of dollars a small independent firm spent of reducing latency by microseconds.
This is serious stuff-you can'r compete on the same level, but you can compete as long as you don't let them define your game.
In any case, the interesting stuff is how pervasive it is and how powerful.
In my view, every trade should have a human's finger pushing the order button. If the stock market is ever to return to what it was originally intended as, this will have to happen. Until then, I hope you know how to handle a flash crash.
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