salezyakuku wrote:Mr. Hyde wrote:"A Financial Times report this morning is stating that a trader from Citi might have been implicated in the British pound’s October ‘flash crash’. Sterling’s value collapsed against the U.S. dollar from 1.26 to circa 1.14 in about 40 seconds"
"FT’s report highlights that sources with knowledge of the matter said that a particular trader placed multiple sell orders on the GBP/USD market. Throughout a very intensive time on the market, the trader was described as “panicked” by one of the London-based newspaper’s sources." Wonder how big those orders were.
"The Bank of England on its part has outlined “human error” and/or a “poorly calibrated execution algorithm." Exactly why I would never use anythibg to automate my trading. Remember the crash in 2010 thanks in part to HFT. Machines can and will always break. If Im gonna lose my account Im doing it myself, haha.
I would rather distinguish robot trading from automate trading. Part of my trades have automation like partial tp, move sl if next order fill, basket tp and sl and more... automation can also secure our manual trading.
My apologizies. That I can understand. But just in general the world is way to dependent and machine ran. Just look at the hacking news stories or yahoo breach. Nothing is safe that is online. But that's just my opinion.