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Titans Of Tomorrow
#1 Ranked FXCM Algo Trader & Private Fund Manager - César Barriga
Nov 30, 2024
César Barriga, a renowned Spanish trader and educator with nearly two decades in the market, shares his insights on algorithmic trading. He discusses the evolution of trading strategies, emphasizing the importance of back-testing and timing in optimizing performance. Barriga explores the challenges of navigating trust in prop trading firms and shares personal stories from his journey, highlighting the shift from high-stress to more sustainable trading methods. He also delves into the psychological aspects of trading and the crucial role of data in enhancing decision-making.
54:31
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Quick takeaways
- The importance of human oversight in algorithmic trading is critical, as reliance solely on AI can lead to significant financial errors.
- A deeper understanding of brokerage models, especially the prevalence of B-booking, is essential for traders to effectively navigate the financial landscape.
Deep dives
The Importance of AI Control in Trading
AI is seen as a revolutionary tool in trading, but it is crucial to implement measures of control over its actions. Despite advancements, relying solely on AI can lead to significant errors, as illustrated by a past incident where an algorithm unexpectedly executed 200 lots instead of the intended 2. This resulted in substantial losses, demonstrating the need for constant oversight and human intervention in automated trading processes. A balanced approach that integrates AI capabilities with manual checks is essential for successful trading in volatile markets.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode