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that right...
all that is theoretical,
in reality we got the reliability dilemma with third
party platforms such as TS. i can only dream about
TS being 99.9% reliable.
ideally you want your own platform in this case...
talking big bucks and time.
as far as execution or what's called "getting to liquidity"
profitability is a function of liquidity big time...
with ideal liquidity you can't really lose money
unless you are stupid...
ideal liquidity ( 100% ) is when you click a button ( execute )
at current market and you are executed under a second...
( if your size is <= average trade size , note that average size
traded is not liquidity itself )
in reality liquidity fluctuates from 100% down to 1-2% in some
cases. low liquidity is when you want but can't get out :-)
in low liquidity situations even the best of signals will not help
you. but decent traders will work magic in high liquidity...
the job of the autoexecution part is to get to liquidity faster than
the rest can...
and you really need two things to make money:
good signals and good liquidity... both are about equally important.
bilo.
ps. that's why people never lose on trading simulators... the
liquidity is assumed to be 100%...
----- Original Message -----
From: <tradejack@xxxxxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Thursday, June 14, 2001 5:59 PM
Subject: Re: TRAD announces autoexecution
> the lawyers are the spoilers....even if you sign your account (and life)
> away :))....but hey, i wasn't making a judgment call, only reporting the
> facts!
>
> i know some guys would like to have a fully automated trading interface
> and play trader games like the big boys on wall st and lasalle, and at
prediction
> co, but apparently it ain't going to happen in the first generation sw.
>
> would i like to see it happen eventually? sure nuff, but let's cure the
> black screen of death in ts pro first before we start throwing 1000's and
> millions of buckos around :))
>
> TJ
>
> "the predictors" by bass changed my way of thinking about execution and
> the eventually death of discretionary and pit trading...execution is the
> traders achilles heel, forcing him him to make emotional choices although
> his trading model/system is 100% mechanical...a fully automated
"cybertrader"
> would change that
>
> "Bilo Selhi" <biloselhi@xxxxxxxxxxx> wrote:
>
> >as a matter of fact *theoretically that's exactly what you want to do...
> >FULL autopilot... again... FULL autopilot
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