Today most of the trades on Wall Street are being placed by algorithmic trading systems.
As a retail trader, we should understand how the markets are being changed by these algorithmic trading systems.
High frequency trading also known as HFT has been blamed on flash crashes that have become more frequent.
The recent example is that of British Pound Flash Crash.
This is one view point.
The other view point says high frequency trading is good for the market as it makes more efficient.
High frequency trading has been credited with reducing the spreads in the market.