> Why do people doing normal trading want to avoid the exchanges that have HFT computers skimming money off their trades?

What's "normal trading"? A prop desk at an investment bank? A hedge fund? A pension fund? Someone who's just installed Robin Hood on their phone?

Most rational participants want lower trading costs and overheads, smaller spreads etc. HFT provides that - the evidence being "look at what the spreads are today, compared with what they were pre computerised trading".

And you don't have to take my word for it, Vanguard thinks this too. https://www.cnbc.com/2014/04/25/vanguard-chief-defends-high-...

> The price is going to get discovered either way just as it has for hundreds of years, it happening a billion times per second does normal traders no good.

Could you explain how a market participant who makes one trade a day is negatively impacted by high resolution price discovery?