In 2000, Goldman Sachs, one of the US’s most significant cash equities trading desk, had 600 traders. In 2017, only two equity traders were operating the floor, supporting automated trading programs. Two hundred computer engineers, in return, found new positions at Goldman Sach’s New York headquarters.
Unlike traditional markets, crypto trading market has not had to go through the whole evolutionary process. Invented at the peak of the computer age, crypto trading bots have integrated with it, without much disruption.
Trading bots generally use computer algorithms to search out and recognize trading trends. At first, these tools of the trade were the preserve of well-endowed hedge funds. Their use has, however, ballooned with time.
As an illustration, JP Morgan estimates that it is a paltry 10 percent of all trades today that are executed by humans. Bots execute these trades at an inhuman speed for profit. They not hindered by intuition, past experiences or emotion but rather by data. This means that they will hardly veer off course when trading pressure mounts. Read More at EWN...