Other jobs related to freelancer trading bots
AI will be able to take over the human-based teller jobs of opening accounts, and processing loans at a fraction of the cost and time that normally takes a human employee. Financial Analysts were once thought of as an indispensable company, where institutions adjust portfolios and can potentially make billions.
Though the AI software has no competition and the financial analysis software can read and recognize historic trends in historical data to predict the future market moves. Construction Workers are manual jobs that are also under threat by automation. The robotic bricklayers will be soon introduced to construction sites and will enable machines to replace workers each, reports Technology Review by using a SAM Semi-Automated Mason that lays 1, bricks a day, compared to that a human can do.
The use of SAM reduces the need for 3 other bricklayers required for the job. Other jobs, like crane operators and bulldozer drivers, can also expect to see AI-controlled machines fill their positions in the next decade. Inventory Managers and Stockists will be replaced by robots, such as one robot called the Tally, designed to audit shelves for out-of-stock items, misplaced items, and pricing errors, reports Inverse.
Tally roams around the aisles and has multiple sensors to scan shelves, and alerts human staff of its findings. Farmers are being replaced with everything that AI robots can do, from milking cows to pulling lettuce. The family-owned dairy farm in Germany was the first to install Voluntary Milking system robots where it allows cows to walk up to machines at their leisure when they are ready to be milked, reports Modern Farmer.
More than 1 million of U. S farmhands jobs have the possibility of being replaced by intelligent machines, reports Quartz. Manufacturing Workers will be depleted humans in the workforce, as it's already happening with Foxconn, the manufacturer who makes everything from iPhones to Xboxes, has recently replaced 60, workers with robots.
Journalists will start to deplete, as it turns out writing is not a problem for AI. In , the Associated Press started using the intelligent software to write quarterly earnings reports. And up to 3, reports are being written every quarter, the Verge reported. Movie Stars as robots appear as actors in the Star Wars film, it is possible that there will be fewer jobs for movie stars in the future as both sides embrace the CGI resurrection technology.
The NPR gathered data and created a database of what jobs will likely be taken over by robots. As the easiest jobs to replace, would be telemarketers, and the toughest jobs that require cleverness, negotiation, and the constant interaction with humans. Occupational therapists OTs have a 0.
They work for clients that are having conditions mentally, physically, developmentally or emotionally disabling, that require a professional of human interaction. Dentists with a 0. Physicians and Surgeons also at a 0. Elementary School Teacher has a 0. Oral and Maxillofacial Surgeon with a 0.
And guess who owns the faster servers and bots? With cryptocurrencies however, these small time increments are not nearly as important. Although I believe it's the golden age to be in the Bitcoin market because it's imperfect , I quickly abandoned the idea maybe too quickly? Without boring you with technical details any longer, the solid trading APIs were mostly based on REST, which is not fast enough for what I was aiming for.
For proprietary reasons I will abstain from publicly discussing a lot of details about the technical implementation. Although I get many requests to open-source the project, I believe that disclosing deep details of the models or prediction approach would hurt the advantages that this solutions has over the other existing bots. However, for anyone willing to learn more about that, I would be more than happy to discuss in private, to some extent.
Long story short, I ultimately ended up going for the stock market, but not into high frequency trading in its real meaning. My bot holds a single position from seconds to minutes sometimes even hours , which makes it more of an automated trader than a high frequency trader.
The reason behind this is that being an individual trader makes it extremely hard to compete with the big guys, as you're lacking perks such as very powerful hardware, advance trained software, and great locations for your servers.
The closer to the stock exchange you are, the faster you receive the information. Large investment servers are literally paying millions to get their servers a few miles closer to the exchanges. Their limitation is 3 requests per second, and this was more than enough for my new strategy. Getting solid historical financial data isn't cheap, and with so many people hitting the providers to scrape and download data, I don't blame them for limiting the offered information.
Intrinio is a good provider for real-time stock quotes at very inexpensive prices. However, getting access to more in-depth data would always yield better results. I built the first prototype in a little under a month. I was working late hours, trying to find time around my daily job as a freelancer.
At this point the bot wasn't very smart. It took me about 2 more weeks to feed it with data until my error rate was satisfactory, and another 2 weeks to test it before putting it in production. Summed up, the technical implementation of the current version took about 4 months, with some more improvements along the way.
Since I publicly announced it , I've been receiving dozens of offers from trading companies. At the moment the system gives me an edge over other traders. If I sold it, I'd be giving this advantage to other traders and, subsequently, losing my lead. Although I do not exclude a future buyout, I am presently focusing on improving the product and trying to scale it. One of the things that I plan on doing soon is increasing the capital and therefore putting the bot through more trading volume.
There are tons of improvements I have in mind, especially on adjusting the position-holding time span, as well as solutions to make it more lightweight, facilitating larger volumes. I wasted way too much time trying to apply high frequency trading in Bitcoin.
At first the idea sounded great, but I was soon facing a lot of technical issues trying to scale the amount of requests. However, I am not yet convinced that it's impossible to achieve true HFT with cryptocurrencies, so it might be something I come back to in the future.
After drifting away from the idea of HFT due to the technical limitations, I looked into a more analytical approach in automated trading.
Most of those concepts couldn't be applied in the Bitcoin market, as it's highly unpredictable, making it hard to shape the models around it. That's when I decided to stick to the stock market. Another big mistake in the beginning was relying too heavily on models. Instead of trying different approaches in analyzing the data I had, I relied solely on the models for identifying profitable patterns without investing time into other more direct solutions. Models are only simple real world abstractions, and my common sense has saved me more than once.
Now this is not by any means a reliable metric, and there are many factors that affect it. The bot has not been tested enough to guarantee that this isn't just a fluke it might as well be. Large investment management companies would do anything to achieve those statistics, and I'm sure I won't keep up that amount of success in upcoming trades. The success so far was also greatly impacted by the favorable market conditions, chosen stocks, and the fact that the bot was running intermittently.
I learned this the painful way. Not too long ago the market went pretty crazy, and I'd be lying if I said that I wasn't expecting some major crashes of the stocks I was trading. Although my stop-loss saved me from some brutal losses, had I not stepped in at the right time, the bot would've ruined all the profit from the past months. That event really got me thinking, and I decided to stop it running for a few days until I fixed that loophole. This was also a great learning experience for me, and I believe that without going through those ups and downs, I would've never managed to get the algorithm to where it is today.
I have no regrets losing time on Bitcoin, as it gave me a deeper understanding of how cryptocurrency trading works, which might prove useful some day. Probably my biggest single advantage is being a starry-eyed young dreamer. To some extent, this allows me to believe enough to put effort into ideas in that others wouldn't. That's what motivated me to persevere in finding those "backdoors" in the market. While many people believe individual traders don't stand much of a chance against the well-equipped companies, I am here to prove that with the right implementation there still is plenty of space in the market.
Another immensely helpful resource were the public research papers available online. In fact, I got tremendous help from papers published back in I often found that most of them are easily overlooked, although they contain super useful analyses.