{"id":15906,"date":"2011-12-10T12:31:50","date_gmt":"2011-12-10T17:31:50","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=15906"},"modified":"2011-12-10T12:34:47","modified_gmt":"2011-12-10T17:34:47","slug":"lessons-from-an-hft-conference","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference","title":{"rendered":"Lessons from an HFT conference"},"content":{"rendered":"<p>This week I presented for 90 minutes and sat on a panel discussion for an HFT conference.  I thought I would report back with some running themes.<\/p>\n<p>1) What is the next Brazil?<br \/>\n2) What markets are most inefficient and offer trading opportunity?<br \/>\n3) Will most traders have access to most markets from their trading home?<br \/>\n4) Teaming with discretionary traders significantly improves the performance of algos<\/p>\n<p>I asked a roomful of systems traders if they thought teaming with a discretionary trader would hurt their results.  Not one person raised their hand.  I prodded the room further, &#8220;No one thinks that involving a discretionary trader with a system created by mining data would be harmful?&#8221;  Again no one would support this argument.  I found that surprising.  <\/p>\n<p>My favorite anecdote from the conference was being handed the Russian translation for <em>One Good Trade <\/em> by an ING Russian trader.  Apparently the first print sold out in a few weeks and a second print is on the way.  The world is becoming smaller and filled with more opportunity.  Opportunity you could never model.  <\/p>\n<p>Bella<br \/>\n<a href=\"http:\/\/www.amazon.com\/One-Good-Trade-Competitive-Proprietary\/dp\/0470529407\/ref=cm_cr_pr_product_top\">One Good Trade<\/a><br \/>\n<a href=\"http:\/\/twitter.com\/smbcapital\"><img decoding=\"async\" src=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" alt=\"\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week I presented for 90 minutes and sat on a panel discussion for an HFT conference. I thought I would report back with some running themes. 1) What is the next Brazil? 2) What markets are most inefficient and offer trading opportunity? 3) Will most traders have access to most markets from their trading home? 4) Teaming with discretionary &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[30,1971,1193,653,1354,1349],"class_list":["post-15906","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-prop-trading","tag-smbu-smb-training","tag-trader-education","tag-trader-training","tag-trading-coach","tag-trading-mentor","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lessons from an HFT conference | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lessons from an HFT conference | SMB Training\" \/>\n<meta property=\"og:description\" content=\"This week I presented for 90 minutes and sat on a panel discussion for an HFT conference. I thought I would report back with some running themes. 1) What is the next Brazil? 2) What markets are most inefficient and offer trading opportunity? 3) Will most traders have access to most markets from their trading home? 4) Teaming with discretionary ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2011-12-10T17:31:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2011-12-10T17:34:47+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" \/>\n<meta name=\"author\" content=\"Bella\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bella\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference\"},\"author\":{\"name\":\"Bella\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161\"},\"headline\":\"Lessons from an HFT conference\",\"datePublished\":\"2011-12-10T17:31:50+00:00\",\"dateModified\":\"2011-12-10T17:34:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference\"},\"wordCount\":184,\"commentCount\":2,\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference#primaryimage\"},\"thumbnailUrl\":\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\",\"keywords\":[\"prop trading\",\"smbu. smb training\",\"trader education\",\"trader training\",\"trading coach\",\"trading mentor\"],\"articleSection\":[\"Mike Bellafiore's (Bella's) Blogs\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference\",\"name\":\"Lessons from an HFT conference | SMB Training\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference#primaryimage\"},\"thumbnailUrl\":\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\",\"datePublished\":\"2011-12-10T17:31:50+00:00\",\"dateModified\":\"2011-12-10T17:34:47+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference#primaryimage\",\"url\":\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\",\"contentUrl\":\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.smbtraining.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Lessons from an HFT conference\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#website\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/\",\"name\":\"SMB Training Blog\",\"description\":\"Lessons from the trading desk\",\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.smbtraining.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\",\"name\":\"SMB Training\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png\",\"contentUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png\",\"width\":230,\"height\":81,\"caption\":\"SMB Training\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/smbcap\/\",\"https:\/\/x.com\/smbcapital\",\"https:\/\/www.youtube.com\/user\/smbcapital\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161\",\"name\":\"Bella\",\"description\":\"Mike Bellafiore is a co-founder of SMB Capital, a day trading firm which takes great pride in its exceptional training program. SMB Capital is an equity prop trading desk that trades on 5th Avenue in New York City. Mr. Bellafiore is a graduate of the University of Connecticut School of Law. He has traded professionally for more than a decade.\",\"sameAs\":[\"https:\/\/www.smbtraining.com\/blog\/bellas-blog\"],\"url\":\"https:\/\/www.smbtraining.com\/blog\/author\/bella\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Lessons from an HFT conference | SMB Training","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference","og_locale":"en_US","og_type":"article","og_title":"Lessons from an HFT conference | SMB Training","og_description":"This week I presented for 90 minutes and sat on a panel discussion for an HFT conference. I thought I would report back with some running themes. 1) What is the next Brazil? 2) What markets are most inefficient and offer trading opportunity? 3) Will most traders have access to most markets from their trading home? 4) Teaming with discretionary ... Read More","og_url":"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference","og_site_name":"SMB Training Blog","article_publisher":"https:\/\/www.facebook.com\/smbcap\/","article_published_time":"2011-12-10T17:31:50+00:00","article_modified_time":"2011-12-10T17:34:47+00:00","og_image":[{"url":"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png","type":"","width":"","height":""}],"author":"Bella","twitter_card":"summary_large_image","twitter_creator":"@smbcapital","twitter_site":"@smbcapital","twitter_misc":{"Written by":"Bella","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference#article","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference"},"author":{"name":"Bella","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161"},"headline":"Lessons from an HFT conference","datePublished":"2011-12-10T17:31:50+00:00","dateModified":"2011-12-10T17:34:47+00:00","mainEntityOfPage":{"@id":"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference"},"wordCount":184,"commentCount":2,"publisher":{"@id":"https:\/\/www.smbtraining.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference#primaryimage"},"thumbnailUrl":"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png","keywords":["prop trading","smbu. smb training","trader education","trader training","trading coach","trading mentor"],"articleSection":["Mike Bellafiore's (Bella's) Blogs"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference","url":"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference","name":"Lessons from an HFT conference | SMB Training","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference#primaryimage"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference#primaryimage"},"thumbnailUrl":"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png","datePublished":"2011-12-10T17:31:50+00:00","dateModified":"2011-12-10T17:34:47+00:00","breadcrumb":{"@id":"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference#primaryimage","url":"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png","contentUrl":"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png"},{"@type":"BreadcrumbList","@id":"https:\/\/www.smbtraining.com\/blog\/lessons-from-an-hft-conference#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.smbtraining.com\/blog"},{"@type":"ListItem","position":2,"name":"Lessons from an HFT conference"}]},{"@type":"WebSite","@id":"https:\/\/www.smbtraining.com\/blog\/#website","url":"https:\/\/www.smbtraining.com\/blog\/","name":"SMB Training Blog","description":"Lessons from the trading desk","publisher":{"@id":"https:\/\/www.smbtraining.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.smbtraining.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.smbtraining.com\/blog\/#organization","name":"SMB Training","url":"https:\/\/www.smbtraining.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png","contentUrl":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png","width":230,"height":81,"caption":"SMB Training"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/smbcap\/","https:\/\/x.com\/smbcapital","https:\/\/www.youtube.com\/user\/smbcapital"]},{"@type":"Person","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161","name":"Bella","description":"Mike Bellafiore is a co-founder of SMB Capital, a day trading firm which takes great pride in its exceptional training program. SMB Capital is an equity prop trading desk that trades on 5th Avenue in New York City. Mr. Bellafiore is a graduate of the University of Connecticut School of Law. He has traded professionally for more than a decade.","sameAs":["https:\/\/www.smbtraining.com\/blog\/bellas-blog"],"url":"https:\/\/www.smbtraining.com\/blog\/author\/bella"}]}},"_links":{"self":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/15906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/users\/144"}],"replies":[{"embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/comments?post=15906"}],"version-history":[{"count":0,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/15906\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/media?parent=15906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/categories?post=15906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/tags?post=15906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}