Flash Crash trader who allegedly helped trigger the £500 billion Wall Street
Apr 22, 2015 at 19:27
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6 Replies
Участник с Dec 16, 2011
297 комментариев
Apr 22, 2015 at 19:27
(отредактировано Apr 22, 2015 at 19:40)
Brunel University graduate Navinder Singh Sarao, who allegedly helped trigger the £500 billion Wall Street 'flash crash' in 2010, is granted £5m bail as he fights extradition
https://www.telegraph.co.uk/news/uknews/crime/11556372/Flash-Crash-trader-Navinder-Singh-Sarao-a-prankster-who-always-got-away-with-it-friends-say.html
very interesting story . start reading from page 7-9 as it explained how did he do it .
i think you can still do is now but u need to be somewhere safe and well away from US , UK and EU borders ( only joking )
https://www.telegraph.co.uk/news/uknews/crime/11556372/Flash-Crash-trader-Navinder-Singh-Sarao-a-prankster-who-always-got-away-with-it-friends-say.html
very interesting story . start reading from page 7-9 as it explained how did he do it .
i think you can still do is now but u need to be somewhere safe and well away from US , UK and EU borders ( only joking )
Участник с Jan 09, 2013
40 комментариев
Apr 23, 2015 at 13:04
I doubt you can get away no matter where you live.. maybe from Iran or Russia ;)
Участник с Dec 16, 2011
297 комментариев
Apr 23, 2015 at 14:52
well , he was doing that from 2009 until 2014 and he was PAYED ( without a problem ) every single time... greed thats what got him at the end . what i dont understand is why is his broker never stopped him from doing what he was doing .they could just told him not to do it again and refuse a withdraw ( on grounds it was illegal move or what ever .... ) but they never stopped him ..
Участник с Jan 09, 2013
40 комментариев
Apr 23, 2015 at 15:33
DrVodka posted:
well , he was doing that from 2009 until 2014 and he was PAYED ( without a problem ) every single time... greed thats what got him at the end . what i dont understand is why is his broker never stopped him from doing what he was doing .they could just told him not to do it again and refuse a withdraw ( on grounds it was illegal move or what ever .... ) but they never stopped him ..
More volumes = more commissions, I guess.
But yes, greed does catch up at some point. That 'one last time' and boom!!
Участник с May 28, 2013
2 комментариев
Apr 23, 2015 at 17:44
I don't get why is this illegal. Perhaps because I'm a newbie, but from what I understand, he placed huge orders to trick algos and traders into buying or selling (moving the price to where he wanted) and then withdraw those orders and bought cheap.
Участник с Dec 16, 2011
297 комментариев
Apr 23, 2015 at 18:44
well he was 'spoofing ' the market with massive false orders - it is illegal i think . But Then again what is spoofing ??? what if i changed my mind and cancel the order or something is that a spoofing as well .
Участник с Mar 20, 2011
44 комментариев
Apr 23, 2015 at 21:16
DrVodka posted:
well he was 'spoofing ' the market with massive false orders - it is illegal i think . But Then again what is spoofing ??? what if i changed my mind and cancel the order or something is that a spoofing as well .
If convicted this could open a whole new can of worms for large traders.
I'm not sure as traders we should use the word 'Greed' we play a zero sum game. There's Wealth Accumulation and Excessive Wealth Accumulation, neither of which IMO is Greed.
*Коммерческое использование и спам не допускаются и могут привести к аннулированию аккаунта.
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