You are 100% correct !!
HFT business would require speed and enormous computing power to take advantage of market opportunities in high frequency. Broadband Internet connections cannot be used to achieve that high speed.
One article by Morgan Stanley recently:
Morgan Stanley Analyst Says Robo Advisers Are One of the Major Threats to the Industry
http://www.bloomberg.com/news/artic...-are-one-of-the-major-threats-to-the-industry
Basically what retail traders can do is scalp on different time frames, opportunities arise on 1 min, 5 min, 15 min hourly, daily charts using standard indicators, however the same indicator cannot be used for all time frames and all markets ... which is the usual cause of failure of algo trading.
Looks like Murugan Stanley needs manual traders who trade based on gut feel and emotions ...
Robo is surely eating into their profits !!!
.. my 2 cents.