Yeah, really, I have a lot of thoughts about that too nitro. All of my modelling efforts are not specific to automation but could make for some very intriguing inputs to humans. Had some ideas about sonification to let me 'hear' the markets. Maybe some interesting things and a more efficient way to use all your senses during the day.. maybe some interesting representations of forecasts.. prediction/density clouds updated realtime with nice smooth opengl graphics. Maybe some of those 3d shutter glasses to let you see play with projection methods.
FYI, Merrill is looking for a head trader in automated market making, basically setting up a new desk. I got contacted, and said no, Merrill frankly is about 3-5 years late to the game. I heard similar rumbles from DB. https://recruitment.ml.com/OA_HTML/...T3L3.bI5yPmRUIech2XVfhSfgKmLmkjQsWBFFd0PWqjQy
That's why I have a job now. It is happening and firms are realizing it. Big guys want both good discretionary trader and good quant. The problem is they cant communicate with each other. Also, both schools of trading has its flaw. So they look for a person who can do both. And it's hard to find... a failed discretionary trader turns to systems. A failed quant trader turns to human value added systems. Both their conclusion comes from ignorance, just like a dog losing its bone to its own reflection in the pond. There's not a lot of traders who's done both. Who's actually got proven success in both at prop. firm as a discretionary trader and a large institution as a quant.? Just a few in this world. You see it all the time in ET... People critisize the other schools of trading which they have no idea about... Discretionary traders : Mechanical traders Automated execution : Human execution Technical Analyst : Fundamental Analyst Gann Analysis : Technical Analyst etc. etc. .... the list never ends
Great Post. There is one trader who has done both....Rickey Cheung. He lost a ton of money trading commodities discretionarily. Then he created a few mechanical approachs that have done quite well. Now he's a "blended trader" and he tells me his days of constantly losing are over.