The topic I intend of pursuing for my Rhetorical Analysis is High Frequency Trading, or HFT for short. Here is how HFT works: A trader, typically with a strong math or programming, who are known as “quants”, develop algorithms based on price and/or chart patterns. They then plug these algorithms into a computer which executes thousands and millions of trades in seconds, hence the nickname “flash trading”. They try to capture a one cent profit which, on thousand and millions of trades a second, becomes highly profitable. It sounds like a genius way to make money in the markets for those able to create such algorithms. So, why all of the controversy? Many believe that these traders have a millisecond advantage over the others. This may sound like nothing, but with an enormous amount of volume per second, a millisecond could very well be a ten minute advantage. Also, with the incredible speeds of their computers, many feel that these “quants” can see trades even before the exchanges receive them.

I chose this topic because it is something that affects me directly. I am an active trader in the markets, and I would like to see if these quants are running ahead of my trades. Also, it intrigues me how they are able to execute such trades in vast amount of volume without having a highly noticeable effect on the market. I have heard arguments that say HFT has helped the markets tremendously, and their evidence is solid.

I do have a question regarding the paper. Since my topic is highly technical, may I start the paper by giving some information about the terminology I will be using and how the market operates? That way, the unaware reader can follow along with, hopefully, little to no confusion.

In Lloyd F. Bitzer’s The Rhetorical Situation, he talks about the specifics of rhetoric. He mentions the importance of identifying your discourse. But, he also states that “it is clear that situations are not always accompanied by discourse”. (pg. 2) According to Bitzer, the most important aspect to consider in rhetoric is the situation. He says, “So controlling is situation that we should consider it very ground the very ground of rhetorical activity.” (pg. 5) There are three constituents of any rhetorical situation: exigence, audience, and constraints. Bitzer defines rhetorical situation as ” a complex of persons, events, objects, and relations presenting an actual or potential exigence which can be removed”. (pg. 6) Lastly, according to Bitzer, rhetorical exigence is all around us because the world invites change. This change alters any given situation.

Bitzer stresses the importance of situation in rhetoric. He provides numerous examples where he proves that without knowledge of the situation, the rhetoric is completely thrown off. Specifically, on page 5, Bitzer mentions the importance of the speeches following the assassination of President Kennedy. If not for that situation, the speeches would have been seen as pointless and random. It is important to understand the situation around you to properly gauge your exigence, audience, and constraints. More importantly, you should understand that any given situation has the ability to change. Thus, you must adapt to the altering situation to adequately satisfy the changing rhetorical needs.

Question: How does one satisfactorily prepare a rhetorical situation, when he/she is unable to gauge the audience?

Emma Watson’s Speech:

Exigence- Gender equality. More specifically, women not being paid the same as men for equal amounts of work.

Audience- The UN general counsel, feminists, and anyone with the ability to make a difference.

Constraints- Appealing the topic of feminism to men; trying not to make feminism sound like a hatred of men.

Topic: High Frequency Trading (HFT)

Sources:

“No Need to Demonize High Frequency Trading” http://dealbook.nytimes.com/2014/07/07/no-need-to-demonize-high-frequency-trading/?_php=true&_type=blogs&_r=0

“The Wolf Hunters of Wall Street”              http://www.nytimes.com/2014/04/06/magazine/flash-boys-michael-lewis.html

In order to be proficient in the subject of rhetoric, we must be familiar with the  elements that correspond: ethos, logos, pathos, and style. To be persuasive, you must have the ability to trigger one’s emotion. You should be able to connect with the person emotionally. When presenting an idea, there are surely going to be arguments made against it. It is important to keep these in consideration in order to properly respond to such arguments. It is not enough to just have information. You must provide a credible source to increase the efficacy of your persuasiveness. Lastly, you need to consider your audience. This will effect your style and how you present the topic.

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