1e-9

21 ms·

151.
by 1e-9 7y ago
Yes, adding delay generally lowers the economic value of markets. In addition to improving liquidity, as mentioned by others here, HFT also improves the relative pricing of related instruments. There is an enormous number of financial ins
152.
by 1e-9 7y ago
The first hit was tentative. I imagine the guy was nervous about whether he might dent it. The second hit was a hard smack with full body weight behind it. I suspose he felt more confident after Elon asked him to hit it harder. See htt
153.
by 1e-9 7y ago
My progression: 1) Looks ridiculous. 2) Impressive hammer demo. 3) Embarrassing glass demo, but impressive nonetheless. 4) 500+ mile range, tows 14,000 lbs, adjustable ground clearance to 16", yanks an F-150 uphill in a tug-of-war... W
154.
by 1e-9 7y ago
They undoubtedly do to an extent, but the exchanges use price limits, trading halts, and mandatory nonstop human supervision to keep things under control and allow human operators time to kill errant systems that are losing money. Trading
155.
by 1e-9 7y ago
> I didn't get the sense that it is illegal from the book. Could you please elaborate what you understand by front running and why/how is it illegal. Front running involves placing a trade based on nonpublic information. It&#x
156.
by 1e-9 7y ago
Front-running is illegal and no more integral to automated trading than fraud is to accounting. HFT is just rapid trading. Think of trading as communication. Just as better communication allows a group of people to arrive at a more accura
157.
by 1e-9 7y ago
For every automated trading system that is operating on major exchanges today, there are people responsible for its actions. If a system disrupts a market significantly, regulatory agencies work to be sure the responsible people are fine
158.
by 1e-9 7y ago
Actually, I think increased lifespan is likely to reduce overpopulation. Worldwide, over many years, we have consistently seen fertility rates decreasing where life expectancy is increasing. There is debate as to cause and effect[1,2], but
159.
by 1e-9 7y ago
I haven't read the book, but the viewpoints he expresses in the interview are spot-on. DL can a great alert/suggestion mechanism in narrow domains, but it should never be trusted to make critical decisions. I believe that genera
160.
by 1e-9 7y ago
The odds become uncomfortably high for the elderly. In the U.S., falls are the leading cause of both injuries (at 7 million/yr) and death from injuries (at 27 thousand/yr) for the elderly[1]. It is a significant risk even if you
161.
by 1e-9 7y ago
"As a result of our review, we realize we haven’t been fully living up to our high ideals, and for that we apologize. " This is a good response by Apple. I hope the incident will motivate a higher level of proactive privacy protec
162.
by 1e-9 7y ago
In retrospect, I think my comment was rather dismissive. Sorry about that. Please ignore and consider my more recent response.
163.
by 1e-9 7y ago
> The "true" price that others want right now is the last quoted bid/ask that can be immediately sold/bought into. A market maker does not want to buy at the last quoted price, as he makes profit by buying at the bid
164.
by 1e-9 7y ago
I have a mental model of the world that allows me to function. It is largely incorrect, but highly useful. A discussion is an opportunity to find modeling errors, which I use to make corrections. There is no drive to be quarrelsome when
165.
by 1e-9 7y ago
In my world, every statement you made is incorrect. I get the impression that there is little I can say to change these strongly-held views. Perhaps you will at least reconsider your assumption that uncertainty implies complete unpredicta
166.
by 1e-9 7y ago
A few points: 1) I wasn't narrowing the discussion to speculators. Spoofing hurts all valid market participants. 2) Speculation does not imply gambling, although that is a common misperception. Speculation is merely placing an order
167.
by 1e-9 7y ago
The newsworthy aspect of this article is the trader's claim that his illegal activity was sanctioned by his supervisors at a large financial institution. The fact that a spoofer was caught and punished isn't news as that happens
168.
by 1e-9 7y ago
The spoofer tricks you into doing something you would otherwise not do. See my example below in my reply to baybal2.
169.
by 1e-9 7y ago
Example: 1) Spoofer places an offer to sell a small amount at a high price. 2) Spoofer places a bid to buy a huge amount at a lower price. 3) The huge order to buy makes other buyers think the price is about to increase significantly, so th
170.
by 1e-9 7y ago
It's fundamentally wrong because markets exist to facilitate the efficient exchange of assets and spoofing lowers this efficiency. More specifically, spoofing tricks others into thinking that their transaction costs will be higher or
171.
by 1e-9 7y ago
Spoofing is the act of placing an order with the intent to cancel it before execution.
172.
by 1e-9 7y ago
When I was a kid, a typical day in the country for a dog could look something like this: 1) Go find something horrendous (e.g. dead animal, cow manure, or compost) and roll around on it awhile and then show off the new perfume to local dog
173.
by 1e-9 7y ago
Java is most certainly unsuitable for production in many domains. That doesn't mean it's unsuitable for all, nor does it mean it isn't "production ready" in general. The GP context was about Julia not being well-s
174.
by 1e-9 7y ago
It's very common for larger projects requiring sophisticated algorithm development coupled with demanding runtime requirements such as high throughput, low latency, or high reliability. In such cases, the separate toolchain inefficien
175.
by 1e-9 7y ago
It depends on the application. Sometimes you need the finer level of control over resources provided by a statically-complied language like C++. An example would be latency-sensitive applications that cannot tolerate the unpredictable del
176.
by 1e-9 7y ago
I think it wise to be skeptical of any new result coming from a complicated proof until it has been proven multiple ways by multiple people. If multiple approaches are not easily attained, then passing the test of multiple counterexample a
177.
by 1e-9 7y ago
I don't think you're going to find much execution detail that is credible in that context. There is plenty of higher-level analysis of such things. You might start with Andrew Lo's papers and work your way out from there.
178.
by 1e-9 7y ago
By "harming a market", I mean "causing a market to be less efficient". It is typically easier to identify harmful behavior than it is to quantify the amount of harm caused. Sometimes you can easily estimate a rough low
179.
by 1e-9 7y ago
> What percentage of traders do you think will approach the market with such altruism? Approximately 0%. I don't know of any entities that trade as a nonprofit. The point is that if you find something the market needs, you will have
180.
by 1e-9 7y ago
Actually, I think the author is in agreement with you that there is alpha. He apparently wrote this article to attract attention to his scheme for selling access to his cryptocurrency trading "bots", which he claims are guarantee

More ›