• Wall Street traders becoming obsolete as computers become more ruthless than traders.
    40 replies, posted
[QUOTE=MasterFen006;41563675]Solution: Have a human moderate all outgoing decisions made by the computer, as a second opinion. I doubt they'd let computers COMPLETELY take control of the situation.[/QUOTE] So you're throwing out the biggest advantage the automated system has?
[QUOTE=urbanmonkey;41562125]I would imagine a company would want to program a computer broker to be as greedy as possible.[/QUOTE] Maybe I'm just the optimist for thinking that the company that uses the computer that brokers stock based on long-term predictions will eventually triumph over the companies that use the 'GET THE MOST MONEY POSSIBLE NOW' computers.
[media]http://youtube.com/watch?v=g7W9J5cUF5s[/media] Whenever I think of economics this comes to mind
[QUOTE=Killer900;41562076]Best part about using computers instead of humans for trading? They aren't fucking greedy.[/QUOTE] They are commanded by humans still....
This is obviously excellent for the long-term health of the economy and we should do absolutely nothing to restrict it or address the flash crash risks or potential for unfair exploitation. Wall Street can be completely trusted to use technology in a way that benefits all of society and not just themselves.
I think that eventually they could possibly stop trading. They would come to the conclusion that they can/would inflate or deflate the market.
I would like to be a Wall Street trader. It would be nice to be rich. I wouldn't need to be [I]stupendously rich[/I] to be happy, either. I'd be perfectly fine with [I]moderately rich[/I], or even just [I]rather wealthy.[/I] I don't necessarily want to step on the little guy, you know? Maybe just kick some dust at him, or something like that.
[QUOTE=Big Dumb American;41565912]I would like to be a Wall Street trader. It would be nice to be rich. I wouldn't need to be [I]stupendously rich[/I] to be happy, either. I'd be perfectly fine with [I]moderately rich[/I], or even just [I]rather wealthy.[/I] I don't necessarily want to step on the little guy, you know? Maybe just kick some dust at him, or something like that.[/QUOTE] Aren't wall street traders one of the professions most susceptible to depression, suicide and similar pressure sickneses?
It depends on the type of trading. You can easily set up programs for FOREX that will earn you money but for actual stocks there's a bit more involved.
[QUOTE=Killer900;41562076]Best part about using computers instead of humans for trading? They aren't fucking greedy.[/QUOTE] On the contrary, if you were to make an amazing auto-trader, it would go for every opportunity it could get. As humans, a lot of things cloud our judgement such as "what-if's" and "I don't really think this is gonna be a big thing" the auto-trader would just see patterns in trends and grab every bit of money it could
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