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by CRUDite
2337 days ago
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If you read his reply / notes to the sec, he states how he was able to place orders without being front run. He asked developers to amend sierra chart. As a result, if placing a large contract order, rather than see price tick away from it he got instant fills.
Ive zero doubt this is why he was fingered. Taking from the hf funds.. who think they have some right to impose a defacto tobin tax on transactions and justify it by calling themselves "liquidity providers!" He is guilty of spoofing, but the flood is caused by bots, or when they stop playing. He mentions his networth was constructed mostly over 50 days. On ' normal days ' you have to contend with smaller ranges where entries are key and those sort of intant fills are a massive advantage. Of course since he documented it the cat got out of the bag, many that had used this method were super annoyed!
Bitmex seems to be the new wild west these days, all those techniques are used and more with 0 accountability |
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