Should I avoid not invented here syndrome, or do it myself?

Discussion in 'Automated Trading' started by nooby_mcnoob, Dec 28, 2017.

  1. sle


    That’s something that comes with experience. I have seen people over-engineer things and subsequently fail.
    #11     Dec 28, 2017
  2. I didn't mention, but the bug is in an external open source API, not my code. I consciously try to avoid overengineering, but I also try to avoid depending on other people's code. It's a tension.

    So my choices are:

    1. Do I spend a week and fix this?
    2. Do I move on and spend a week finding another system?
    #12     Dec 28, 2017
  3. sle


    A. Is it something that otherwise fits your needs?
    B. Do you have the skills and the knowledge of the system to fix it without breaking anything else?
    C. Do you know off hand another system that will do what you need?

    If B is False, you know what to do :)
    If A and B are true and C is False, you know what to do
    If all are true, then it’s a question of how much effort you’ve already invested in the current setup vs replacing a component
    #13     Dec 28, 2017
  4. All are true, but I don't think it's about effort invested (that's a sunk cost fallacy, COME ON MAN, WE'RE TRADERS AMIRITE), it's about what will compound better in the long run.

    I spend a week, fix it, and make billions, or spend a week, use someone else's thing and make billions. Either way I make billions but the first way, I have a lot more fun :)

    So alright, I'll spend a week. If I can't fix it, I'll use someone else's thing.
    #14     Dec 28, 2017
  5. Simples


    As long as you make your billions, you're alright. Don't settle for less though, or you're stuck with no healthcare, no police and no firestation of your own.
    #15     Dec 28, 2017
    nooby_mcnoob likes this.
  6. djames


    Another good library for IB: ib_insync on github
    #16     Dec 28, 2017
  7. algofy


    Haven't even traded live yet and already counting the billions?!?!
    #17     Dec 28, 2017
  8. My god man, take it easy. It's obviously a joke.
    #18     Dec 28, 2017
  9. Why would you use this and not the official API?
    #19     Dec 28, 2017
  10. sle


    It is not really, though. Sunk cost assumes that time or money spent does not change your state as an economic agent and only adds material possessions.

    You don’t know what will work in the long run because you have never done this in the long run. However, there is certain value of expertise - if you spent a month integrating a component into a system, you have intimate knowledge of that component that you will have to re-acquire if you install something brand new.

    #20     Dec 28, 2017