Trading jobs in London expected to fall 90% because of algorithmic trading
- Thread starter itmediaco
- Start date
Il Principe
Guest
As an individual trader, I forsee that increased automation will make it easier to "read the tape". Algos can pick up patterns, but not nuances ( think about when central bankers speak). Humans pick up nuances allowing them to possibly fade a move. Algos will keep on going with a trend, as in "if x, then y". A student of the market will be able to see more convincing patterns, even more so then today.
These threads about sophisticated stuff make me laugh...
Completely full of nonsensical opinions by people unqualified to have one.
The algorithmic systems out there out very basic...
And probably only marginally profitable...
Fast yes, but not very "intelligent".
To view them as omnipotent...
As anything more than order fillers or low level profit scalpers is delusional.
As both a pro trader and a pro software engineer...
Can at least one person out there with a brain get this simple point:
For me to eliminate myself as a trader...
I would have to develop a software system that trades ** better than I do **.
REPEAT:
For me to eliminate myself as a trader...
I would have to develop a software system that trades ** better than I do **.
I build and enhance and optimize my ATS systems every day...
But to build an "expert system" that trades as well as I do...
Is ** totally beyond the state ** of Artificial Intelligence technology as it is today.
The only present advantage of ATS is speed and wide market coverage.
I'll bet the next 5 posts are by people who are neither successful pro traders or pro software engineers...
Who will then proceed to completely miss the point.
Why not just give us your opinions on neurosurgery instead?
Completely full of nonsensical opinions by people unqualified to have one.
The algorithmic systems out there out very basic...
And probably only marginally profitable...
Fast yes, but not very "intelligent".
To view them as omnipotent...
As anything more than order fillers or low level profit scalpers is delusional.
As both a pro trader and a pro software engineer...
Can at least one person out there with a brain get this simple point:
For me to eliminate myself as a trader...
I would have to develop a software system that trades ** better than I do **.
REPEAT:
For me to eliminate myself as a trader...
I would have to develop a software system that trades ** better than I do **.
I build and enhance and optimize my ATS systems every day...
But to build an "expert system" that trades as well as I do...
Is ** totally beyond the state ** of Artificial Intelligence technology as it is today.
The only present advantage of ATS is speed and wide market coverage.
I'll bet the next 5 posts are by people who are neither successful pro traders or pro software engineers...
Who will then proceed to completely miss the point.
Why not just give us your opinions on neurosurgery instead?
Sure I could. But you wouldn't know them.
Even more surprising - you think its impossible.
bingo.
I think the reason for the IBM white paper is
that there is huge skepticism of "algorithmics"
(AI) in England going back to the Lighthill
report produced for the British government
in the 1970s. The Lighthill report is available
on my web page (www.tdl.com/~smeyer).
I wouldn't worry to much about losing your
trading job since AI is pure hype. If you don't
believe me, try submitting a paper criticizing
algorithmic trading to a refereed journal. It
will not be accepted.
that there is huge skepticism of "algorithmics"
(AI) in England going back to the Lighthill
report produced for the British government
in the 1970s. The Lighthill report is available
on my web page (www.tdl.com/~smeyer).
I wouldn't worry to much about losing your
trading job since AI is pure hype. If you don't
believe me, try submitting a paper criticizing
algorithmic trading to a refereed journal. It
will not be accepted.
