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What amazing problems are you solving? Most of what is coming out of these companies is toxic and barely moving the needle — many times actually making software

by cudgy 5y ago

What amazing problems are you solving? Most of what is coming out of these companies is toxic and barely moving the needle — many times actually making software development worse with ever more bloated “pet project” platforms that get released to the dev world allowing for lesser skilled devs to churn out copycat glitchy web-based products.

renewiltord 5y ago
HFT. Pet projects don’t happen here because we’re a prop trading shop. We can backtest, we can trial, we have immediate financial feedback. If your change doesn’t lead to improved PNL it’s not going to hold. And, in any case, you’re not going to want it to hold. We all have failing hypotheses. The trick is to have lots of succeeding ones and for the failing ones to fail early. Whether amazing or not isn’t the deal. The only question is whether it yields more money tomorrow. If it doesn’t, it’s not good.
- forum_ghost 5y ago
  isn't HFT very math heavy and the actual solutions are done by essentially galaxy brain physicists/mathematicians? seems like a very different skill than big tech coders.
  - MattPalmer1086 5y ago
    In my limited experience of HFT, the galaxy brain mathematicians write terrible code. And there isn't much time for heavy anything at HFT speeds. So there's a lot of clever software and hardware engineering that is implementing what are often quite simple strategies. Those simple strategies are backed up by lots of clever analysis of course.
    - forum_ghost 5y ago
      Right, the analysis is the heavy part. and yes the math guys themselves don't write the code, the coders do that part. even if the impl can be quite involved, it seems rather strange that someone could make money from very simple strategies? seems to contradict common sense.
      - MattPalmer1086 5y ago
        You can make money on average with simple strategies because you react faster to signals than the competition. Your order goes in first. You just have to be very fast. I worked at a hedge fund that did a bit of HFT. They mostly took pride though in the fact that they made money using intelligence rather than just being really fast.
      - infinite8s 5y ago
        HFT is all about speed, and at the minimal amounts of time to react all you can do is simple strategies.

by cudgy 5y ago

renewiltord 5y ago

HFT. Pet projects don’t happen here because we’re a prop trading shop. We can backtest, we can trial, we have immediate financial feedback. If your change doesn’t lead to improved PNL it’s not going to hold. And, in any case, you’re not going to want it to hold. We all have failing hypotheses. The trick is to have lots of succeeding ones and for the failing ones to fail early. Whether amazing or not isn’t the deal. The only question is whether it yields more money tomorrow. If it doesn’t, it’s not good.

forum_ghost 5y ago
isn't HFT very math heavy and the actual solutions are done by essentially galaxy brain physicists/mathematicians? seems like a very different skill than big tech coders.
- MattPalmer1086 5y ago
  In my limited experience of HFT, the galaxy brain mathematicians write terrible code. And there isn't much time for heavy anything at HFT speeds. So there's a lot of clever software and hardware engineering that is implementing what are often quite simple strategies. Those simple strategies are backed up by lots of clever analysis of course.
  - forum_ghost 5y ago
    Right, the analysis is the heavy part. and yes the math guys themselves don't write the code, the coders do that part. even if the impl can be quite involved, it seems rather strange that someone could make money from very simple strategies? seems to contradict common sense.
    - MattPalmer1086 5y ago
      You can make money on average with simple strategies because you react faster to signals than the competition. Your order goes in first. You just have to be very fast. I worked at a hedge fund that did a bit of HFT. They mostly took pride though in the fact that they made money using intelligence rather than just being really fast.
    - infinite8s 5y ago
      HFT is all about speed, and at the minimal amounts of time to react all you can do is simple strategies.