Not for me. I see high frequency trading as a kind of spam. It's annoying and creates a lot of chaos. High frequency trading is responsible for much of the volatility we see in the markets these days. I think we should have a rule limiting high frequency trading. There was or is a bill floating around proposing such a rule, a rule that would make it very expensive to trade in this manner. It's only large institutions that have the infrastructure to execute those trades anyway. Such rules already exist (uptick rule no longer exists, but is one obvious example). Retailer traders would not stand a chance. Traders play an essential role in the markets by creating liquidity. This allows commercial to go about the business of hedging on reasonable terms. The high frequency traders are not adding value. If we allow large institutions to participate in the markets why is it so wrong to allow retail traders to participate?
Just because spam exists that does not mean we cannot use email to make money responsibly. It's not easy making money in the markets, but people are going to participate no matter what. It's a part of the American dream, it's a part of my dream. I want to give people tools to enable them to make better decisions.
Pretty much the same math that goes into high frequency trading can be applied to low frequency trading. One example is pairs trading. It's is pseudo statistical arbitrage. You look for and try to exploit statistical relationships, but it is not really arbitrage. You can see a form of arbitrage if you look at the fair value futures quote on CNBC before the open. If the FV is below the opening value of the index, the market should rise because the arbs will buy futures until the different disappears.