Goldman Sachs is replacing old school traders with junior finance grads who know how to code

[Sig]

I think its a sign of a dinosaur if you're a trader who refuses to add to their toolbox by learning how to code. That doesn't mean that you're going to write an HFT algo to do all your trading for you, but why would you willingly give up the advantage of being able to code strategies that you could marry to your years of trading experience? Sure, you can bumble along till the end of your career, but you're signaling to your employer loud and clear that you've stopped caring about learning and improving yourself professionally, and you probably think you now know everything there is to know and are rapidly moving to grumpy old man territory. Most employers don't appreciate that signal.

 

[2rosy]

A discretionary method based on certain price actions will last, because that is how the market or traders' psychology works.

Why does it have to be discretionary? If you have a strategy it can be automated otherwise you're just winging it