TEDxNewWallStreet - Sean Gourley - High frequency trading and the new algorithmic ecosystem | Forex
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Speaker Bio: Dr. Sean Gourley is the founder and CTO of Quid. He is a Physicist by training and has studied the mathematical patterns of war and terrorism. He is building tools to augment human intelligence. Description of Talk: The speed of human strategic thinking is fundamentally limited by the biological hardware that makes up the brain. As humans we simply cannot operate on the millisecond time scale -- but algorithms can, and it is these algorithms that are now dominating the financial landscape. In this talk Sean Gourley examines this high frequency algorithmic ecosystem. An ecosystem, Gourley argues, that has evolved to the point where we as humans are no longer fully in control. About TEDx: In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized.* (*Subject to certain rules and regulations)
Comments
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This was one of my most liked Ted Talks. Great, illuminating storytelling.
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This presentation is shit, visually
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Great Video. Very Informative!
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Great talk.
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He was saying that algos are taking over markets and we are no longer living in the same world (the nanoseconds world). Then to take on that world we need some super human type of exoskeleton.... in the form of artificial intelligence (which is another form of algorithm) and still humans are limited to 650-900 milliseconds. Does he really think any human can follow what that artificial intelligence is doing at nanoseconds?In his Augmented Intelligence explanation on how to do this, one can only analyze the data AFTER THE FACT through visualizations or math. Which basically what he has done when he is showing charts from NANEX data visualizations. He is not solving anything. I am not defending any of the trading algorithms but I can tell you this, with a rule based trading algorithm, you can more readily understand the rules and ascertain if the rules of those algorithms caused the crash ( which some had proven it was, such as BATS crash). You can then formulate mitigating rules to prevent it. With AI based algorithm it is a black box unless you build into that AI that it can explain its actions. Let's say if it was built upon neural network, you cannot really understand what its rules are and what it is doing, it is even worse. Just because AI is improving a lot does not mean it is the solution for everything. He had said it himself, why should an algorithm which lived in nanosecond world decides our world, yet his solution is to put more algorithm in. The solution is simple, put a speed limit, something that IEX is doing though I think IEX can and should slow down the speed further.
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3:15 ..... spot on. The algos caused flash crash, and one poor human sucker got the blame
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Ok, trading with the coming of HFT has changed, but it does not mean that it is impossible for the human race through a discretionary trading ...
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More nonsense on Algo's from people trying to scare you. If you want to see that algo's don't matter click on my channel and watch how I beat them day after day after day,
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the answer for chess is NO. why? because both pieces are white.
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Wow, this guy is a cunt. Navigated away from the page @ 11:12.
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This video highlights my business world:A domain traversing philosophy and psychology as much as technology and markets.The challenge of technical fields such as applied genetics, neural networks, and other sophisticated mathematical algorithms is bringing life to artificial "intelligence" ... and so on and so on.It is complex, and it is fun, deliciously so, yet we do have a responsibility to maintain awareness of our actions at all times so as to realise benefit for sentient beings.
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A human still has to write the algorithm. Doesnt mean the algorithm is always successful. Its only as good as the human is as a trader.
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When machines generate money from nothing, the average person is in trouble...
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High frequency trading is high speed front running. A computer housed in the exchange detects a order on its way to the market, lets say to buy 1000 shares of ABC. The computer then places an order in front of that order and buys the shares and then sells to the real buyer of the 1000 shares. If you did the manual equivalent this you could go to jail. But because the high frequency traders pay the exchange a lot of money its ok. This is just corrupt bullshit.
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So, do stock prices ever depend on profit, growth, efficiency?
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there's a reason why five former top playing chess Grandmasters are now hedge fund managers