Ought vs Is, my friend. You are making a moral/ethical claim about how the world OUGHT be while he is making the distinction about how the world IS today.
Some patterns are illegal by the way. However proof is still quite difficult to come by.
For instance, it's market manipulation to place large orders continuously and then cancel those orders continuously.
It's also market manipulation to place both LARGE buy and SELL orders at the same time in order to fake volume for a particular stock.
However me as an individual or private entity can at any time go place an a LARGE as fuck order for what ever I want.
In fact if you look back and study old stock floors ect. traders started to learn what the people at the large banks/intuitions looked like. When they saw them walk up with their stack of PHYSICAL orders, they'd try and step in front of them because they knew the market was about to move as a large order was about to be placed.
Some patterns are illegal by the way. However proof is still quite difficult to come by.
For instance, it's market manipulation to place large orders continuously and then cancel those orders continuously.
It's also market manipulation to place both LARGE buy and SELL orders at the same time in order to fake volume for a particular stock.
However me as an individual or private entity can at any time go place an a LARGE as fuck order for what ever I want.
In fact if you look back and study old stock floors ect. traders started to learn what the people at the large banks/intuitions looked like. When they saw them walk up with their stack of PHYSICAL orders, they'd try and step in front of them because they knew the market was about to move as a large order was about to be placed.