According to Marcos Lopez de Prado, the former head of
machine learning at AQR Capital Management, algorithms in electronic markets
have already automated the jobs once dominated by thousands of traders. …
Lopez de Prado, who is now a Cornell Universityprofessor,
testified in Washington on the adverse impact of artificial intelligence on
capital markets and jobs. He spoke of the algorithms automating the jobs of
traders and displacing thousands of people. Lopez de Prado told the U.S. House
Committee on Financial Services, “Financial machine learning creates a number
of challenges for the 6.14 million people employed in the finance and insurance
industry, many of whom will lose their jobs—not necessarily because they are
replaced by machines, but because they are not trained to work alongside
Investment banks, such as Goldman Sachs, now seek people who
have the math, technology, software, coding, data analytics and
related skills to work along with electronic trading. The need for real-life
traders are done and over with. It used to be a fantastic and well-paying job
to be a trader—not any longer!
Companies—whether they are McDonald’s, introducing self-serve kiosks and firing hourly workers to cut costs, or top-tier investment banks that rely on software instead of traders to make million-dollar bets on the stock market—will continue to implement technology and downsize people in an effort to enhance profits and cut down on expenses. This trend will be hard to stop and have serious future consequences for the workers at all levels and salaries.
This pair was the only crypto winner from last night. i was also surprised on GBP NZD last night as UK leads into an election. This was a nice forex trade. For now, I talk about the latest calls for today with some hopeful nice wins within 24 hours. LIke this topic, here https://quantlabs.net/book/
Dude with conversation with ex FX trader at Goldman Sachs. In a nutshell, it was said:
very true that would well for swing trading FX. but when running a test 25K scalping account with some sneaky slippage – its tough. He said the way to grow a 5K to 50K account is futures. Then expand to currencies, plus you have the added benefit of watching convergence and divergence in futures into order to catch the momentum larger moves.
. crypto has some nice moves but trying to find the trends. future is good to move into options eventually
Best online courses for futures and options. It seems this UC Davis is the best
It seems we have yet another Youtube video about algo trading
and resources. It seems most don’t last to long in it. Here was the video description:
My story about when I used to day and swing trade on the
stock market leads to today. Now that I have the coding skills alongside my
stock market knowledge, it’s time to implement my strategy as an algorithm.
These are the resources I plan to use to learn more about quantitative finance
and develop my stock trading algorithm.
When I see Robin Hood as a resource, it definitely tells me
this guy does not know what he is doing. It just makes him dangerous!
Anyhow, I did my latest results with both Forex and Crypto.
I must say the lessons are quite significant. As usual with MotiveWave, I already
implemented the changes right away. I
will post a video on this with a new rebalancing towards late afternoon for
Get the video replay here later today once it is posted.
As things go, it seems the calls are getting better and more
accurate. I also want to make them less noisy so I will only send out a batch
for entry/exit only. I will assume most of you will be interested in that only
as well. Please let me know if I am right here.
P.S. This will be part of my Analytics service which you can
sign up here for
I talk about last night lessons which I already implemented the new changes in MotiveWave. In a nutshell, I will rely exclusively on the Ichimoku cloud signals for entry/exit. I just need to figure out the timeframe to use. Also,, pls remember this is only a test.
Intereted in these topic? Get some free PDFs here
Here is a video playback webinar with some smart questions answered