The Wall Street Code | VPRO documentary | 2013

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A thriller about a genius algorithm builder who dared to stand up against Wall Street. Haim Bodek, aka The Algo Arms Dealer. After Quants: the Alchemists of Wall Street and Money & Speed: Inside the Black Box. This is the final episode of a trilogy in search of the winners and losers of the tech revolution on Wall Street. Trading on the financial market is not longer dominated by humans, but by super fast computers and algorithms. The result of this digital revolution on Wall Street is a complex and fragmented financial system that is hard to understand and overseen. A system that we are all connected to. The only people who understand the system a bit, are the people who built it.
Haim Bodek started his own high frequency trading in 2007 and built a from his point of view perfect and fast algorithm. One day it just stopped working. Profits disappeared en he went looking for the cause. He decided to go public with his search to display the rotten system.
Originally broadcasted by VPRO in 2013.
© VPRO Backlight November 2013
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Credits:
Director: Marije Meerman
Research: Gerko Wessel
English, French and Spanish subtitles: Ericsson.
French and Spanish subtitles are co-funded by European Union.

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24 сен 2024

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@vprodocumentary 4 года назад

NEWS NEWS NEWS! We have a vpro documentary, Telegram channel! Check it out for new uploads, spread the word and join! 😉 t.me/vpro_documentary

@patrickmercader238 5 лет назад

"A lot of people copy me, sure, but thats ok, it moves the world forward"

@whotelakecity2001 4 года назад

If you want to be original, be ready to be copied. Coco Chanel.

@ProfesorMamelowsky 4 года назад

I have a PhD and I understand all those PhDs that prefer to trade than to cure cancer. As a scientist you are always at the brink of starvation jumping from contract to contract and from country to country. The trading world seems to offer certain stability or at least lots of money to buy your stability.

@HarryHaller1963 5 лет назад

I spent five years trying to figure out how to trade for a living. Eventually, I honed in on a hedged options-selling strategy that returned 20% every year for three years...then I burned out from the stress of worrying about the volatility that I'm convinced is the result of algorithmic trading--enough of the quants have the same ideas, so that intraday moves are exaggerated by them all piling onto the trend. This documentary, and all of the insiders who participated, really prove what I already knew (to some extent). I can say for certain that this is no conspiracy theory, because I spent enough time trading to know that the markets are, in some ways, rigged.

@GerardVaughan-qe7ml 4 года назад

Did you ever hear of Indira Singh ? - Ptech - "9/11" . She was an analyst programmer for a big bank doing "risk" and "unusual trading" watchdog programs.

@philiplopiano3759 4 года назад

The markets are def rigged,good catch if u wrote this comment yrs ago

@OMGAnotherday 4 года назад

Frank Caruthers - ✌️All we have to do is have a simple understanding of how excel works, then add a little bit of manipulation and there you have it! These people are not clever since they use simple tools, where they are different is their psychopathy!

@perthus7008 4 года назад

Ranjit Tyagi why did you have 70k in anything ? Risk management is a great thing

@garyparizek245 4 года назад

L N jb

@AlexanderRek 10 лет назад

This is an amazing documentary. It is a must watch for all financial professionals and those who are fascinated by financial wizardry.

@sp33dou 10 лет назад

Same old saying goes here: The less transparent the market and the more complicated the securities, the more money the seller is going to make on you.

@HaimBodekChannel 10 лет назад

For those who want to dig further into what is now known as the "order type controversy", I have posted links to the major news articles and associated media on my web page. It has been a long slog since the news first hit in early 2012! Quick Update (4/2016): Bats/ Direct Edge settled the order type allegations with the SEC in Jan 2015. It was the largest fine against an exchange in US history.

@10010x0x0x01101XX0X1 7 лет назад

How in the world did the exchanges introduce order types without the actual traders knowing new order types were introduced?

@salomonprietoprado3589 7 лет назад

Haim Bod

@TheBlanco951 7 лет назад

word of mouth amongst the elite traders?

@171TITO 6 лет назад

Haim Bodek ...controversy," I have...

@thumper1747 6 лет назад

Haim Bodek how are things now 3 years later Haim?

@cspritch76 11 лет назад

At ~34:15, it mentions the sheer amount of money that "evaporated" during the flash crash in 2010. Wealth does not evaporate. That wealth was transferred to the people shearing the sheep.

@joseywales1975 4 года назад

The share went from 10 to 20 because people paid that amount of cash for the share,then for whatever reason the stock started to sell off.those who sell their shares before they get a loss get more than those that that take a loss.basiclly the money that bought the shares was all there,it's just the money got shuffled around😂

@rjbz554 4 года назад

@vernon padilla wrong there is always someone on the other side of a trade - you obviously don't understand

@rjbz554 4 года назад

@richard mccann he doesnt have to - there is a God of justice... for thieves...

@NimblePerspective 4 года назад

@vernon padilla how do you think price falls?

@kfoster3616 4 года назад

@@rjbz554 So true...you are right on the money....or should I say "spot on"?

@alwaysincentivestrumpethic6689 5 лет назад

"90% of finance doesn't know how the stock market works"

@tobymaltby6036 4 года назад

Dated 2013 ... it would be great to have a "Where Are They Now ?" follow-on doc on these guys...

@MeBituman 4 года назад

Should be in jail.

@Acid113377 10 лет назад

I started off with the impression of this being a very shallow and "hyped" sort of production. But then, about 15 minutes into the video, things really shifted. Very informative, concise and valuable material, thank you for making this publicly accessible! - N

@isaiahsspontaneouscontent9111 5 лет назад

This is why I enjoy RU-vid. A video leads to another then another and then I am now watching this great documentary.

@louisboer3021 11 лет назад

Haim’s code failed. The instant before the deal, many clients were suddenly “teleported” in line before him. And were serviced before him. For 12 months, Haim searched for the error in his code. There was none. During a social event, Haim learned the real reason: his order type was "wrong". First time Haim heard about “incorrect order types”. Apparently, the "right" order type buys you precedence in line! Give the "right" person / agency some extra money. It's an old trick. Like bribery.

@OMGAnotherday 4 года назад

Louis Boer - That old trick, the one that goes back to the beginning of times.... Bribery! OMG we deserve to become extinct!

@stevep8363 4 года назад

You just saved me an hour on this annoying tease of a documentary.

@world_peace1 4 года назад

@@stevep8363 This is why I quit being a licensed stock broker after 10 years from 1996 to 2005 in New York. I was a NYC trader. I used to watch 3 different quotrons. People don't know there are three simultaneously markets. First, second and third markets. The one the public sees is delayed by about 2 seconds, the second market for institutional traders, mutual funds, hedge funds aka inside traders used to push the market or help tank it was for profit taking. Then there is the third market for big wires, big bank block traders that manipulate the markets up and down with SOES " Short Order Execution Systems " using intraday borrowing, "Day Traders", then there are margin traders that have 3 days to fill orders they usually short as they wait for the market to tank to buy back stock to fill short orders. Big banks use global arbitrage against time zones from around the world to get first in first out trades before the New York Exchange opens...or other markets around the world. High technology turned the market into a gaming industry.... its a manipulated crap shoot casino based on inside trading. A big skimming machine where the little fish mostly get eaten. I quit because I could not stand the corruption or the CRIMINAL characters I had work next to. The movie "Boiler Room" is a true story. These guys are lying. They kmow whats going on. Good liars but not to me. These stocks are pushed and pulled. They big players know in advance. They are the ones doing it globally everyday in every way.

@raikou25 4 года назад

Proud Patriot damn that’s interesting thanks for sharing the knowledge

@HeavyProfessor 9 лет назад

Extremely well-made documentary film about the ins and outs of a tiny piece of an irreducibly complex puzzle.

@rjbz554 4 года назад

No - it is reducible - there are socipaths who rig and steal.

@ifukill7538 4 года назад

@@rjbz554 cutting a long story short😷😊

@JennetPreston 4 года назад

Makes me long for the good old days when pirates used swords and cannons, rather than algorithms.

@tobymaltby6036 4 года назад

Algorithms do more damage...

@icepod 5 лет назад

Pretty odd that after superstorm Sandy, the Fed Reserve bank of NY moved their trading desk literally right nextdoor to the CME servers in Aurora... Would love to see a full audit at transaction level detail...

@rleung2001 6 лет назад

I am watching this in 2018. The content is eye opening.

@donatasbielskis2083 5 лет назад

I am watching this in 2019

@user-wi3yx3gy2o 5 лет назад

2019

@chazzbrasiel6704 5 лет назад

March 2019... 832,790 views

@karemelia 5 лет назад

I'm reading this in July 2019 - 956,000 views

@lorenbooker9486 5 лет назад

I'm watching from the Second Great Depression in 2020

@Kaybe23 5 лет назад

The most important info is @ 48:30: That most traders live with fears. ... The stress is unbelieveable.

@YourRealDaddy 5 лет назад

That is true. I trade and as soon as I hit "buy" it's like I'm holding my breath until I hit "sell" which could be 2 days later. I love doing it but hate it at the same time. The epitome of a Love/Hate relationship.

@ifukill7538 4 года назад

@@YourRealDaddy bet a lot of heart attacks happen in that job. Watched Nick Leeson film. I felt for him. In way too deep😱

@tooooomboh 4 года назад

If you feel stressed your strategy is not the right one for you... E.g. risking too much size or holding trades overnight

@jay-rus4437 4 года назад

This video is such a basis for personally handling YOUR income and wealth. I invest in ONLY 3 things. Silver/Gold, Real Estate, and my Business. All things that I have direct control of

@SmithFam2323 4 года назад

Jay- Rus I am in the market now. Got some bio stocks and mining stocks. Once those go to my sell level I will walk away for good from the market.

@ivarplavinskis4668 5 лет назад

This documentary validates the consensus that the economic system as we know it must be destroyed. Too much corruption, too much manipulation, too much extraction, without ever producing anything of value. Only raising the price of everything in the name of profit. I am not saying that investing in a project or company or idea that will make everybody's life better is a bad thing, I am saying that the "markets" have been twisted to a point where they no longer represent investment, they only "extract wealth" through manipulation, and therefore no longer are a "benefit to society." Excellent expose, thank you!

@curtcoller3632 4 года назад

The algorithms are not the problem - they are just a tool. The problem are the "liars" about potential and opportunities.

@freeelectron8261 6 лет назад

An amazing documentary - it seems like tech is moving too fast for the rule makers.

@Zerelleon 4 года назад

free electron no they are partnered with the rule makers behind the scene.

@maa1649 4 года назад

Thank you for speaking up about all the secrecy’s, corruption, and computer fast trading happening in the trading world.

@JohnGalt1960 4 года назад

The world as we have known it has come to an end... .it will never be the same again.

@OMGAnotherday 4 года назад

John Smith - Agree!

@tomluce5964 4 года назад

YES YES YES! I FOUND 1 WHO SEES THE TRUTH,THE HEARTBREAKING REALITY,YOU ARE LOOKING AT THE HANDFULL OF MEN WHO THROUGH THIER GREED& POWER THRILL SEEKERS,HAVE UNWITTINGLY,TAKEN AWAY FROM THE WORLD,FROM YOUR CHILDREN,YOUR GRANDCHILDREN,ANY CHANCE OF ,EVER EXPERIENCING THE SIMPLE TRUSTING SOCIETY THAT I,MY FATHER& GRANDFATHER LIVED! THESE SOB'S ARE THE RUNAWAY ENGINES THAT ARE& HAVE DRIVEN FASTER& FASTER THE PACE THAT WE ALL MUST KEEP IF ANY HOPE OF LIVING ABOVE POVERTY IS DESIRED,THAT FUELS THE INDUSTRIES THAT ARE& HAVE DRSTROYED MY,YOURS,OUR CHILDREN'S EARTH!

@fr0stmourn3 5 лет назад

Thomas Peterffy, the owner of Interactive Brokers is now worth $20 Billion instead of the $6 Billion he was in this video. Incredible.

@highheatrichie 5 лет назад

Interestingly he doesn’t sell order flow like the other brokers, he’s a good guy!

@creativebobbo 5 лет назад

@YexaC If that's your perception, then that's your reality. I think I would be a better guy with 20 Billion.

@Adrian-me9dt 4 года назад

I love how these guys think it’s relevant to mention HTML and CSS in their portfolio

@thirtythreeeyes8624 4 года назад

When you make money simply off of having money you will create a very very large wealth gap. I think this corona virus is going to show people this when the billionaires are making the greatest profits they've ever seen while people literally starve.

@rubinturner8233 4 года назад

But the system and wealth gap has always been quite significant. That was before the virus generations back.

@pete3050 5 лет назад

To play the markets you either have to be a genius or a madman

@gullybull5568 5 лет назад

my father is both. im in the middle of the 2.

@koaasst 4 года назад

transfer of wealth: the movie

@Saleh5858 9 лет назад

This is like MATRIX. You'd know what's the next move before it even occurs. Super-fast ! Incredibly amazing. It's like trading in a millisecond with a speed of light !!

@MrSilverfish12 8 лет назад

HFT isnt really about knowing the next move its more about being there first when its time to make a move. Computers do not assess a companies true intrinsic value.

@imaxdigital7052 8 лет назад

+Saleh5858 Actually, today's algorithmic programs are trading by the nanosecond. Not at the speed of light, but the data being transmitted certainly is moving at that [exact] speed. Only because they're using fiber-optic cables though, like you and I are now.

@nicholasprescott1150 4 года назад

Holy shit! I just stumbled on this randomly. I live with Haim's cousin

@kfoster3616 4 года назад

Try to get some "inside" info to share with us....just kidding

@draganstankovic9979 5 лет назад

Those people and their mad trading machines are nothing more than parastes on real life.

@lordhumongus8669 4 года назад

This next Collapse and Depression very soon 2020 these Criminals are gonna be pulled from their Rat Holes and Clubbed like Baby Seals at Harvest. Hope they put that in their Algorithms.

@jameswittman7146 4 года назад

So well said. I'm with you on this. Greed hurts people.

@doubleoddbs4357 4 года назад

E. G. Hmm, interesting

@nicestguyinhouse6112 4 года назад

Good time to buy into things after the market truly implodes, and that hadn't happened yet.... Atleast as much as it will. I'm just waiting. I pulled all my money out of stocks early 2020 and after a month the place crashed, and I'm still waiting cause there is no way its fallen to what its going to

@whotelakecity2001 4 года назад

You think they did not know about this? Or participated in planning? That is foolish thinking. It us that are gonna get clubbed.

@Renould2010 5 лет назад

Thanks Haim for Sharing this very Informative Quartz and, Quantum Computers Work. 🔥🔥🔥💯💯💯.

@rodneygangloff6685 4 года назад

Money for no production of products. Numbers on screens. Just like churchmen, I have a voice in my head, and it says give me your money. No work, no products.

@cryptogod6149 4 года назад

The paper in your wallet is NOT MONEY! It is currency. Money has to be a store of value like precious metals. Anything else is credit. The spot price of these metals is NOT the real price as the spot price is derived by trading futures contracts so it is not real. Try getting physical gold and silver atm. The mints are running dry. The price is going to skyrocket. The only problem is there is no way of protecting your physical gold as all the governments around the world have disarmed their people except for 1. The USA.

@kwapell7856 4 года назад

Excellent - research - explanation - explication & presentation - very informative & educational - entertaining & Enlightening - Thank U - VPro

@beth-bi9yv 4 года назад

This makes my head hurt.....which is probably why I'm still poor :)

@ifukill7538 4 года назад

Don't worry as you have less chance of a heart attack.

@shaeshae5610 4 года назад

You're still poor because you are enslaved by the United States corporation who not only steals your money every two weeks but your labor and then they put law enforcement on the roadways to molest you extort you and entrap you sue makes you contract with them so they steal the rest of your slavery dollars when you have to go to court which is owned by the Queen of England but it's in the United States yes The Fringe that is gold and that hangs around your so-called false idol American flag yeah it's owned by the Queen of England and every single courtroom in the United States corporation belongs to the Queen of England meaning every lawyer and attorney at law is also owned by the Queen of England because they register at something that's called the bar association well the bar association is located in England guess who owns it you guess correctly the Queen of England actually who is illegitimate sitting on her throne because why her father was off fighting either the Irish war or the Italian war her Babylon whore of a mother Queen Elizabeth's mother got pregnant with Queen Elizabeth why her husband was away fighting in a war that means she's illegitimate sitting on her throne

@purebloodirishman9389 4 года назад

@@shaeshae5610 Mmm interesting any links to a video I can watch about this

@DerekFullerWhoIsGovt 5 лет назад

Battling algorythms makes Tron come to mind.

@SupraSoulStar 11 лет назад

True that, they love to say the wealth evaporated, but where there are debts there are also people collecting them.

@Azzataky 8 лет назад

As one of the guys says, if people would know, they would do something about it. Why people don't know? Media do not inform them about it. But lucky we are to know when celebrities fart. :D Love VPRO. Keep the good work going.

@vprodocumentary 6 лет назад

We still get to hear when celebrities fart (Trump :D)

@Vlad-rv8wi 5 лет назад

so true

@HarryHaller1963 5 лет назад

Anytime you hear the word "investors" in a news report of daily market moves, you know that the reporter has no idea what he or she is doing.

@JohnDoe-sp3dc 5 лет назад

Even if 100% percent of the public knew about this, nothing would get done about it.

@Jerrrr 11 лет назад

VPRO, you do great work. I only wish you could do more of it.

@paulmader1052 5 лет назад

At the end of the day they are just scammering thief's they just complicate it so you don't understand it and won't look into it

@questinfinity 4 года назад

WELL SAID MAN. THAT'S ALL THIS IS. A LARGE SCALE SCAM.

@gurgy3 4 года назад

Quest Infinity And it starts with the “federal” reserve bank, a PRIVATE CORPORATION

@arnonabuurs7297 4 года назад

Thats the federal reserve system, the biggest heist in history and no ones asking questions :P

@acajudi100 4 года назад

thieves😊

@shawngreenforussenate6277 4 года назад

The stock market is ponzi scheme propped up by consumer cash. The market will "correct" when the next generation gets ready to retire, about three months ago. The only thing is that the money has already been spent on Manhattan Rent, Booze, cab rides and five star meals.

@erwinschrodinger8098 7 лет назад

There are a lot of private persons who trade through apps where they follow other trader ( they buy what ever the persons they fowllow buys). You should calculate this too, it becomes verry important soon.

@DangerClose13E 4 года назад

It's 2020...That little documentary barely scratched the surface.......

@amazingman9175 8 лет назад

first tablet in 83. crazy

@Remembering-rq6si 8 лет назад

+Amaz Ingman Crazy is naming some unfortunate lad "Amaz."

@elhadjiamadoujohnson4166 6 лет назад

And touch screen.

@yesmode5736 4 года назад

Todd Rundgren developed the first tablet in the late 70s.

@rRobertSmith 5 лет назад

The speech at time 36:36 -- 38:05 is what I came for and what I suspected all along. Mostly everything else was handled in Flash Boys by Michael Lewis.

@michaelgeorge819 4 года назад

It seems like thieves stealing from other thieves.

@karmachick2656 9 лет назад

Special order types are documented, just need to look in the right places. Many ways in which insiders control the market to exclude other smaller players.

@MrSupernova111 7 лет назад

The failure of Bodek here has nothing to do with order types. He is trying to exploit mispricing that last milliseconds and he doesn't know shit about actual finance. If he did he would not be bitching about the most liquid market in the world.

@MrSupernova111 7 лет назад

People like you and me are not affected by these factors. You would need a mainframe to trade at that level like these clowns do.

@carmosamu 4 года назад

I agree with you! I stopped losing money when I stopped doing day trading. Today I just do "buy and hold" and I am very confortable with it.

@tiffsaver 4 года назад

Can you just imagine if these greedy Wall Street computer geeks would actually put their enormous brain power into something that would actually HELP mankind??

@hakeemfaisal7516 4 года назад

No money on that

@nthatomalope 6 лет назад

That Metalica concert analogy was really good.

@world_peace1 4 года назад

All he had to say was its supposed to be "FIRST IN, FIRST OUT" but the market is completely manipulated fraud.

@europa_bambaataa 8 лет назад

any more recent stories on this? sounds like shit was pretty intense in 2013. it doesn't seem like it's ruined the system yet. I need a 2015/ 2016 update on this story.

@BunneRabb 6 лет назад

There's two ways to look at the world. "What can I do to make this better than I found it" and "what can I get away with?"

@thelifescout8335 5 лет назад

Bodek is secretly the lead vocalist of smashing pumpkins

@mites7 11 лет назад

The fundamental flaw of the black box trading companies is they're attempting to scalp for fractions of pennies and are trying to NEVER lose, which is impossible, they also value speed above all else, so the strategies end up all looking the same.

@shaunmichaelchase 10 лет назад

Great opinion about patents....copying moves the world forward-wonderful ethos....

@igorschmidlapp6987 5 лет назад

Obviously an open source software/hardware proponent...

@TheQwuilleran 4 года назад

This only solidifies why the stock market needs to die

@CM_Burns 5 лет назад

@ 41:00 Peter Zhang doesn't run a hedge fund. Sang Lucci is not a hedge fund and none of those traders are FINRA registered.

@theodoreholland7781 5 лет назад

'The Levee' in the soundtrack, appropriate..and cool!

@paultaylor7947 4 года назад

All this one day will just become a thing of the past.

@shawngreenforussenate6277 4 года назад

@surfside75 4 года назад

Well technically...😂🍻

@philippeplouchart8156 5 лет назад

The market is all about PERCEPTION.

@discobook6159 9 лет назад

I no longer get flabbergasted, this astute well presented documentary has less than 230k views, kim kardashian butt gets 10,000,000 views and dancing cat get 25,000,000 views….enough said.

@JacintoReign 9 лет назад

I thing its a good thing, stupid people give us a bigger chance to get to our goal. If the whole world would be like us, it would be way harder for us to accomplish our goals. These people arent a treat for us, matter a fact we control them because their brains cant comperhent the rules of power. Me personally, i love stupid people how they care about Kim Kardashian, Jersy shore etc. At the end of the day these bainless people work for me and make me Rich and most important powerful. All i have to do is just act like they are worth a penny. I respect those who deserve to be respect and i respect you for the comment you made ;). You will make your dreams come true !

@CScottMark 9 лет назад

***** It depends on how good you are at visualizing algorithms.

@ravenbracey3684 9 лет назад

Disco Book I got the information about ANDY LANK METHOD from my friend. Now this gives me a much better profit than this across my desire.

@fakeneim 9 лет назад

+Disco Book that's how you flash trade your position LOL

@josephk7946 8 лет назад

+Disco Book Kim Kadashian's ass gets more high frequency trading than the NYSE. You just need the right order ticket

@ofusowre7620 5 лет назад

Maybe I m wrong, but if I understand it correctly. Basically the trading system is run by artificial intelligence which reacts according to information put into the system. And of course important to note. It's not really reacting to real events. It react only to whatever information is put there...

@kevindiaz-lane4404 4 года назад

The disease of conceit - Lucifer was the first in a long line of intelligent narcissists- what impresses me is people with integrity and a moral foundation! Some day each one of us will be judged for what we did with what we did not earn - gifts and talents.

@kfoster3616 4 года назад

Amen ---I agree....TY for your comment. Jesus saves through His free gift of eternal life.

@nonjabusiness4360 10 лет назад

The little guy who invests his own hard earned money doesn't have a chance. This shit is beyond fucked up...

@nonjabusiness4360 10 лет назад

Mmmm 14% interesting, what exactly did that 14% equate to? If you're not getting a 100% (or higher) return at the end of the year, then that means you're not actually making money on which you can survive on. If that 14% is enough to get you through the year by paying all of your living expenses, gas, food, and recreation, then you're not "the little guy", meaning you've invested a large sum of money that you had in reserve, which means you were living very well off when compared to the rest of the populous of where ever you are from.

@bluo88 10 лет назад

So passively invest over the long-term (buy and hold). It's a solid investment strategy for everyone, rich or poor. Look up Burton G. Malkiel and John C. Bogle. As an example of how simple and elegant this strategy is, Bogle once received a letter from a man who followed his indexing strategy about how wonderfully it paid off. The man never made more than 25k/year, but began investing in 1974 (unclear if he was indexing from the start or after Bogle created the first index fund in 1975). By the beginning of 2004, the man had a nest egg of nearly 1.4 million. The little guy can make money, too.

@nonjabusiness4360 10 лет назад

So what you're saying is, I'm going to be rich when I'm in my 50's... Well that sounds fantastic. The problem is that unless you become one of these assholes, and somehow join their exclusive club, you will never have a chance at fair day-to-day investing, or the lifestyles that they have. I won't want fancy ass cars and stupid ass shit like models in my 50's, 60's, 70's and possibly 80's. I'll want to live out my life in peace and quiet with my wife, and watch my kids begin their lives. And that's my whole point. It isn't fair for the little guy. I know plenty about long term investments, it doesn't take much to figure it out. And I'm already taking precautions to begin securing my retirement in my early 20's (and something for my future children). But like I said before, I'd like to have a chance at fair day-to-day trading now, when I'm young, when I can do things with my life, when I'm selfish and live only for myself: not when I'm 50. And currently that's impossible because of crap like this, and 99% of people don't even know about it. Thanks for looking out though.

@bluo88 10 лет назад

Nonja Buisniss Well, I didn't want to go off on getting rich quick. There's really no such thing as easy money and that goes for algo traders, too. They could go broke with just one mistake. In regard to day trading and speculating in general, the little guy can do just fine. Better than ever, actually. The advent of HFT just means you can't scalp in the tiny timeframes they can. You can't beat them in speed, but it's possible to still catch ticks on a day to day basis to make a good monthly income. Bottom line: if you really want to speculate, you certainly can and I wish you the best. Don't worry about the HFTs. You can still make money.

@nonjabusiness4360 10 лет назад

Yes, that is true, money is never easy to make, doesn't matter what you do. It just seems unfair when you hear things like this, and it makes you think if the system is rigged. Thanks man.

@kennytheclown3859 4 года назад

A bunch of scoundrels! Interesting documentary.

@markovucic 4 года назад

The only difference between USA and my country (Serbia, although it can be applied for many countries around) is that pension fund money is there used for stock exchange manipulations, while here it is used for stealing by politicians.

@captivesojourner 4 года назад

Nerds are going to eventually ruin the world beyond recognition.

@mesouth8038 4 года назад

Permian Based they already have! Ugh

@jamesdot87 5 лет назад

the production on here is sick good job !!

@alexcastro7339 5 лет назад

Everyone is saying "don't talk to the SEC, like they can't just watch these documentaries...Lol

@world_peace1 4 года назад

The SEC is the cover up.

@davewilson339 11 лет назад

Summary of this is, the exchanges (NYSE, NASDAQ etc) allow some high frequency traders to execute trades faster than others.....and one assumes as this is Wall St they dont get that benefit for zero $.

@lamsmi2345 5 лет назад

Here in 2019

@peterpichlermba8098 4 года назад

Just canceled my account with IBKR today after they did not fill a STP LMT order on SUPN when it plummeted earlier this week. At first they said it was my fault as I'd allegedly put in a DAY order and the stock plummeted at approx. 5:25PM. I then could prove that it had it set to outsideRTH so it should have filled. It took them two days to get back to me and tell me pretty much that their STP LMT order is useless as by the time my order was submitted (as it apparently is only simulated by IBKR!!) the stock had lost 25% and there went my money. So basically with the market correction coming soon which is inevitable and will destroy between 30 - 80% of the market - IBKR users forget about your STP LMT orders - you're screwed.

@Tilt11001 11 лет назад

I love the in-depth journalism on the algo finance world but we should avoid making heroes out of people like Bodek, there is little to admire him for.

@1reipro 4 года назад

Regardless of the speed trading, why would the markets respond different over a longer period of time? If an investor buys good companies and holds the position until the price hits the target desired by the investor. I can't see how more trading in the interim is hurting people unless they are trying to compete by trading in seconds. Stock prices might run up or down fast in minutes, but so what? Only the people buying and selling in those couple of minutes are winning or losing? How is that rapid exchange "ripping off" people who have securities-based retirement accounts?

@brandenwright327 5 лет назад

Yo they have a thorough team. Super strategic. Ppl that know stuff like this get downed and called lames and nerds but they make millions because of what they know. Getting paid for knowing stuff? That's pretty cool to me.

@SignedOff402 11 лет назад

Investor protectionism at ~any cost~ is what we have before us. These criminals are living large when they should be SERVING A LIFE SENTENCE for attempting to undermine the stability of a nation's economy. Where is the law? Who bought the judges? Even in Canada we see this. It is a global contagion of thievery which will end in the early death of millions of good people who have worked very hard all their lives.

@jeffgreen3376 7 лет назад

Interesting video, but they never revealed how some large traders were jumping the queue or with what order types.

@thetruthwillsetyoufree9209 5 лет назад

Michael Lewis - 'Flash Boys'

@noelgarland3068 5 лет назад

i feel like i've wasted my life being a math teacher lol

@efreitorhabibulin238 4 года назад

shouldn't you feel fulfilled? that instead of ripping ppl off, that you doing something good and important? yes you are not rich, but you are also not a parasite of society. Btw "the millionaire next door" book can be eye opening on how hard working ppl with low to medium income become relatively wealthy.

@ifukill7538 4 года назад

Oh no .... The people you teach will disagree. Better to feel fullfilled. What we are watching here is what crazy empty people do. A small number of puppeteers and the rest ( there are no words) corona virus will change all that.😷

@betadryl 8 лет назад

This Documentary shows why the @Ethereum project is so important!

@vprodocumentary 6 лет назад

Look at Ethereum now.

@thetruthwillsetyoufree9209 5 лет назад

F*ck Crypto. Another Tulip Bubble. And I have been saying and writing that since Bitcoin hit 18k. Blockchain? Cool technology. Crypto is for crooks.

@gervanks 10 лет назад

I always knew of this algorithm game but never looked deply into it... so great documentary... however... so much information... that left me knowing NOTHING about this obscure world. And seemly... the very players who make part of this world.. dont know it neither. Well, that made me feel better.

@bustatrades 9 лет назад

Haniff Din No its not. This is them just taking a micro view into the market. You don't need to be a genius to trade basic products

@TheLongVol 9 лет назад

Haniff Din Yea you can. Also, define serious money. HFT is much more exaggerated than it really is. Matters more for the day traders scalping for peanuts.

@TheLongVol 9 лет назад

Haniff Din Yea because forums are for trolls and people who don't trade. I had a client with $10,000 make $2,000 last week alone. The guys in this video, Lucci/Peter make money with $100K accounts, less even. You don't know what you're talking about, like 99% of the people commenting. You don't work in this field you just watch these sensationalized documentaries. HFT firms make a ton of money but so can everyone else. Will you make the kind of money they do? No, not at all, but to sit here and say you need $300K shows your lack of knowledge.

@TheLongVol 9 лет назад

True. I mean, you're not going to clear much money even with a $5m fund unless you're extremely good. The issue I have with this video is that it's essentially HFT guys v. HFT guys, they're in their own world hustling eachother. I mean if you and I miss out on $0.02-$0.07 a trade it doesn't matter. So ya, I agree with what you are saying but again this HFT game is just one method of extracting alpha from markets, its not the holy grail nor should it stop retail from getting into the markets.

@JacintoReign 9 лет назад

Haniff Din i disagree Warren buffet said you dont need to be a genius to be a good trader, and i guess we i know hes the King of trading...

@priven80 7 лет назад

Impressed the algorithm developer and another word in this documentary 95% people really don't know what inside WALL STREET and what is going.... ? : )

@heyitskeithgibson 9 лет назад

Incredibly well done.

@zaktripper4908 4 года назад

Power corrupts, and absolute power corrupts absolutely, & Money = Power.

@EastNewYorkKid 8 лет назад

I watched this video and still don't know what they were talking about.

@KevinP32270 6 лет назад

Derrick Parker agreed

@tackylolable 6 лет назад

me neither

@Koushi82 6 лет назад

..... HFT - high frequency trading BADLY explained its computers following computers 90% of the stock market are computers.

@Shinemodel 5 лет назад

@Meme Kingpin that was mean 😄

@Mdebacle 5 лет назад

What I think it means - this is about market orders (not limit orders). You want to buy 100 Intel at market. Some guy who can move faster than you buys Intel. Then the price goes up a notch and he sells it to you.

@Wacoal34d 5 лет назад

This is predicated on a trading mentality. It is not of that much concern to long term investors I think, or am I wrong?

@ndklskgisiiiyyy5449 8 лет назад

it's about knowing the market and knowing market Is about knowing the human being's behaviors, and human being's behaviors cannot be fully explained or calculated by coding...only man can do this job.

@FluxProGaming 7 лет назад

I think you have a different idea of what these algorithms are designed for. They dont trade the market to be right about the direction of some certain security. Humans behaviour is not seen in pico seconds, it is seen over hours, days, months.

@MrSupernova111 7 лет назад

Moon, these guys are getting in and out of the market in milliseconds (HFT). Not the same thing as a long term investor or even a day trader.

@michaellohman2820 6 лет назад

just felt the need to correct a statement in the documentary. the speed of light is finite... it does NOT travel faster in the air than in a fiber cable. it's just faster, in terms of latency, through a microwave because the path is point to point and more direct whereas the fiber cable has to pass through several hundred miles of cable/repeaters/telecomm stations/etc.

@niilespunkari8832 5 лет назад

1% Wall Street sales tax would end all this.

@Dana-qi3ys 5 лет назад

You must be in the accounting business

@GAMakin 5 лет назад

It's not about the money its about the equity. Equity is value. Money can change with the shift of a decimal point or the tick of a nanosecond. A cash vacuum is one thing, and equity vacuum is quite another. The inverse rule applies.

@charlessaini9442 10 лет назад

Gr8 doc!!!! thanx for the upload.

@pravgill1619 4 года назад

You can rob a bank with a gun but you can rob the world with a bank.

@infiltr80r 10 лет назад

Absolutely amazing documentary. There are a few ways to avoid HFT but with limited liquidity. Pension funds simply don't care if they lose 0.x% on entries/exits as they're chasing double digit returns and not investing their own money.

@bobwit4405 5 лет назад

Love what you do in the space. thanks!

@joebazooks 8 лет назад

fascinating documentary. i wonder what's going on with all of this nowadays?

@bertyboy12345 6 лет назад

More competition drove down returns. Exchange wanted more volume so when the algos sold down the line the margins dropped substantially.

@EvanHowell101 9 лет назад

Did anyone else find humor that most of them listed PHP as a language they knew.

@vonGleichenT 11 лет назад

I guess at the end of the day it's all about making a profit.

@sergeantcrow 4 года назад

'C' is a beautiful language to work with...

@HPhenomenal 11 лет назад

mark cuban sent me here

@PedalToTheMetal61888 5 лет назад

...and that travajevoc...Guy...still don''t Know HOW HE GOT on ...sharkTANK''...marK-Cuban...Brought ...His ...way...in...so did ...''D-J-''...UGLY Ass...Barbara-'''...WHO DID SHE ...pay...off...Girl with the pretty ...LEGS''...Where did ...She come from...and Who''s BANGING''...Her..!!