HFT has been around for years now. There are pros and cons apparently to the practice. I personally think it should be banned like it has been in China. The increased liquidity as a pro is a weak argument when you see on a day in day out how shares are being manipulated aimo. It's a way to leverage the power of technology to spot hundreds of trends on a second/minute/hourly/ long term basis that we mere mortals couldn't possibly compete with.
Imagine if you could read 15000 announcements in the space of 15 seconds, run your eye over each announcement, determine sentiment and likely direction of a shareprice movement, while also using its algorithms that are adaptive, learning and correlating this new information with hundreds of other correlated variables.
It's so tough for day traders now with HFT but I think if you are a swing investor or medium to long term holder general principle of a stock rises on its success you can invest on that and short term movements from day traders and hft becomes white noise.
I think the stats with NYSE are approx 40 percent volume of all trades are HFT
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