[Archive c 17.03.2008] Humour [Archive to 28.04.2012] - page 159
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A quote from a famous trader's book:
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Imagine a stranger comes to your garage and tries to sell an automatic system to control your car. Pay just a few hundred dollars for a computer chip, install it in your car and stop wasting your energy steering, he says. You'll be able to take a nap in the driver's seat while the Nimble Steer takes you to work. Chances are, you'll laugh in such a salesman's face. But would you laugh if he offered you an automated system for a stock market game?
Gamblers who believe in the myth of autopilot believe that the pursuit of wealth can be automated. Some try to develop an automated gambling system themselves, while others buy it from specialists. People who have spent years honing their skills as lawyers, doctors or businessmen are shelling out thousands of dollars for canned competence. They are driven by greed, laziness and mathematical illiteracy.
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Complex human activities do not allow themselves to be automated.
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The market is changing and outplaying the automated system every time. The hardest rules of yesterday don't work well today and probably won't work at all tomorrow. A competent player can adjust his methods if he detects alarms. An automatic system does not adapt so easily and self-destructs.
By having autopilots, airlines pay high salaries to pilots. They do so because people are able to cope with the unexpected. ............... Trusting your money to an automated system is the same as trusting your life to autopilot. The first unforeseen event will destroy your account.
There are good gaming systems out there, but you have to keep an eye on them and adjust their every decision. You have to follow the process yourself, without shifting your responsibility to the system.
That's just his opinion.
Quants trades with the help of bots.
Why just him? I'm better at it by hand, too. There are just two types of people. Some find it easier to do by hand, others find it easier to write a program.
Simple things like martin lend themselves well to programming. But it's hard to program the human brain.
Rare footage - cat and snake. http://byaki.net/video/25354-kot-vs-zmeya.html