
Eric Hunsader wants to upend the world of high-frequency trading - walterbell
http://www.marketwatch.com/story/this-man-wants-to-upend-the-world-of-high-frequency-trading-2016-02-02
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tptacek
This is one of those articles that sounds carefully sourced, but really isn't.
To say that Hunsader is a controversial figure would be deceptively
understating it: "a conspiracy theorist without the theories" is one
description I've received. I've heard good things about Nanex data, but also
lots of warnings about taking their analyses too seriously.

Meanwhile, the article sources nothing but pundits and advocacy groups that
were predisposed to promote Hunsader's theories, regardless of how accurate
they've turned out to be --- for instance, it includes a warm quote from Brad
Katsuyama, who left a job at a giant investment bank to start a new exchange
ostensibly designed to retard HFT.

It is far from clear that Hunsader was right about the Flash Crash, and
Navinder Singh Sarao's spoofing operation is to HFT what... well, actually,
let's just let Matt Levine's headline about Sarao do the rest of the work:

[http://www.bloombergview.com/articles/2015-04-21/guy-
trading...](http://www.bloombergview.com/articles/2015-04-21/guy-trading-at-
home-caused-the-flash-crash)

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chollida1
For the record I really enjoy following Eric's twitter stream but be
forewarned that he isn't the end all be all expert on market micro-structure.

Infact I find he is alot like the book flash boys. Entertaining and capable of
finding interesting data and putting his own spin on it but he is often just
flat out wrong.

At one point he and I were talking when he claimed that Canada doesn't have a
MOC auction, which 1) is just false, and 2) very easily verified by a 10
second google search.

Having said that, his graphs of market micro-structure are among the best I've
found from anyone on twitter. Just don't blindly believe that when he shows a
chart and claims shenanigans that there is actually something nefarious going
on, which to be fair makes him no different than anyone else on twitter:)

I now view him as soneone who has earned his spot at the table as a market
micro-structure "expert" but is very biased in his views.

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hellofunk
>His first trading program, which reversed long and short positions on futures
when their moving averages crossed, turned $6,000 into $36,000 in a year.

Ah, for the good old days when simple techniques like that actually worked.

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CoolGuySteve
This article's incredibly positive tone reads like a submarine advertisement
for Nanex's services.

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randomname2
> Hunsader mainly uses social media to spread his viewpoints, at times
> tweeting dozens of messages a day to nearly 72,000 followers who include
> major exchanges, banks, regulators, traders, portfolio managers and
> journalists. He frequently illustrates his posts with charts, clips from
> news articles and screenshots of other peoples’ tweets. Hunsader calls his
> tweets “pure, unfiltered news.”

Definitely worth following, if only for the great charts:
[https://twitter.com/nanexllc](https://twitter.com/nanexllc)

