Im just reading through some papers about ANN's http://works.bepress.com/bruce_vanstone/8/ In this paper there is a statement that got me thinking However, it is commonly accepted that discretionary traders produce better financial results . . Elder, A., Entries & Exits : visits to sixteen trading rooms. 2006, Hoboken: NJ: John Wiley and Sons. I personally have been a discretionary trader for my whole career and all the traders I have known to have made some big money are also discretionary. Not saying automated trading doesnt work - just havent met any. Also, if you look at all the trading jobs being advertised they are all looking for quants with programming skills. So which style of trader is better or more profitable?