Usually it's best if the programmer is separate from the ops guy, but in this case it sounds like you got stuck doing both. That sucks. I've done a bit of trading myself and it's both boring and terrifying. The two worst emotions.
HFT doesn't really add value to anything in my opinion (cue the arguments that HFT somehow adds real value to our society). Yet HFT creams a profit by shuffling money around very quickly. So if there are sometimes big losses like this from a bug, then it seems to even things out somewhat.
Momentum prop trading doesn't really add value to anything in my opinion (cue the arguments that momentum prop trading somehow adds real value to our society). Yet some momentum prop trading creams a profit by shuffling money around very quickly. So if there are sometimes big losses like this from a bug, then it seems to even things out somewhat.
So instead of doing that, read the companies fundamentals. Learn about their debt levels. Earnings. Read their books. And only then invest with 1-2 year time horizon minimum.
HFT is valuable to the society as it makes the society understand that treating Markets like casino gambling isn't working.
Trend following, and mean-reversion following (what this article describes) are techniques that counteract the basic human irrational/emotional biases. Ideally, they should prevent bubbles and stop crashes. They make markets more rational.
Said during the greatest economic downturn since the great depression.
EDIT: I should point out: _all_ market-makers provide this benefit to the market. The difference now is that HFT is automated, and like most forms of automation it has out-competed most manual market makers, for better or for worse. AFAIK, the last bastion of manual market-making is NYSE, where the humans have information and discretionary powers that are not granted to any of the robots.
Even those are pretty easy to make an argument for. Very specialized firms spend vast sums of money, to make very thin margins, to provide me with a very valuable service. That is, I don't have to venue shop based on pricing oddities, they will arbitrage those away. I can shop purely on fees and features, the things that actually will impact me in the long term.
As it turns out, the "HFT" version of any trading strategy is _just like_ the "ordinary" version, but faster. You could say that they "disrupted" the older arbitrageurs due to their collective technology R&D.