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At 11:29 AM 4/4/99 -0700, Owen Davies wrote:
>>This is something that has puzzled me for some time. There are many tools
>>out there for performing complex math on time series, that have
>>exceptional graphics capabilities and are far more powerful than the likes
>>of TS or other programs oriented towards the trading marketplace. I can
>>think of a few reasons why they might not be used: 1) most traders are a
>>lazy bunch and don't have the discipline to learn to use powerful tools 2)
>>traders don't know about these tools 3) traders think something written
>>specifically for trading must be superior 4) too much trouble coding
>>indicators in something other than a trading app. Maybe it's a little of
>>each.
>
>
>I'd offer two more: 5) Most of us don't have much of a background in
>the kind of math it takes to benefit significantly from these programs.
>(I've barely made it to the stage of not taking my shoes off to count,
>myself), and 6) For the most part, concern with advanced math seems
>like any other aspect of the search for the Holy Grail. I'm willing to
>withhold judgment on things like neurofuzzy algorithms, but if the math
>gets too complicated for TS/SC/etc., you've probably lost contact with
>the real world of trading. Or so it seems to this exceedingly humble
>trader.
>
>Owen Davies
Well, you can get from LA to NY by horseback. Or you can get in a car, turn
the key, and drive there. Using the "high-tech" auto doesn't require that
you know the principles of internal combustion engines, electrical systems,
etc.
Most of the people using computers to trade with are not particularly
knowledgeable about digital systems, the inner details of operating
systems, etc.
While I have no doubt there are proprietary traders who fly by the seat of
their pants and do extremely well, I'm not one of them. So, I'll be using
the best tools I can find.
The whole idea of the technical revolution is to bring the advantages of
high tech to the lay populace so they can realize the benefits thereof.
I'm not particularly impressed by buzzwords. But if there are techniques
that can lengthen and improve the quality of life, I'm interested. If there
are devices that can improve the details of everyday life, I'm interested.
Here's an interesting statistic. Someone (probably some ivory-tower egghead
sociologist) did a study and found that married couples that both have cell
phones have a lower divorce rate. And if you want to talk about rocket
science, study the technical theory behind cell phones. Talk about how it's
aerodynamically impossible for bumble-bees to fly, how in the world can
there be a zillion cell phones around -- and they work!
Allan
"Most people are in favor of progress, it's the changes they don't like." -
Anonymous
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