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The going out of business part wil be quiet interesting, from the first post it does sound like the business conditions have changed. Would it still be possible to get something like this off the ground today or was he fortunate enough to get in before HFT got such players employing the best of the best?

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I would say it would be extremely difficult to start a HFT program nowadays. I actually created a profitable system in 2009.. I ended up making around $500k but by 2010, I was making less and less money each month no matter what I did to try and improve the system. I finally turned it off completely about 3 months ago. I think the problem is there is simply no "dumb" volume in the market and everyone is just competing against other HFT arbitrage programs.

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