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February 2011 Editorial: Are you a Spacebar Trader?

There is a funny anecdote coming from the early ages of high frequency automated trading. After opening themselves to computer originated trades, some exchanges flip-flopped and banned the electronic automated order generation.

Our HFT traders who always have a trick or two up their sleeves, hired some secretaries with the only task to press as fast as possible on the Spacebar keyboard of their compute, reading magazines or chatting around. in fact, a bot were scanning in real time market opportunities and was ready to fire orders as soon as our secretary, propulsed as a "Spacebar Trader", was pressing on the keyboard space bar.

I let you imagine funny situations which probably happened...

Fortunately, since then, most of the exchanges welcome generously algo traders and such flights of fancy have no reason to be. Automated trading has been so generalized that it is now possible to open a forex account with a few dollars and begin an automated trading activity with a free platform such as Metatrader. Be aware that the question here is not to debate the usefulness to open trading account with 50 dollars...

However a new kind of Spacebar traders seemed to appear on the new flow of day traders, bring by the electronisation of the market and the lowering as a consequence of the entry barriers. A lot of these traders have a systematic trading strategy. I mean they have a well defined trading plan : entry signals, exit, money management, risk management, etc.

These traders spend their day or nights monitoring several markets waiting for entry signals, in order to open a trade... clicking on a mouse... Does it remind you something?

What a loss of time! Time that could be so much more intelligently used to improve strategies or searching for new ones. And without mentionning that computer will probably do a far better job.

Remind you, time of Spacebar Traders is gone! And if you do not have neither time nor the motivation to learn by yourself competencies necessary for automated trading, we are here to help you! We already allowed a lot of manual traders and trading shops to go into the automated trading arena, or at least the trading assited by computers.

Trading evolves and so it is too for Automated Trading and Alpha Novae. We are currently intensly developping in the background our new infrastructures that will allow us to follow our growth and consequenlty proposing you new innovative services. But you will know more about it soon...

Good trading to everyone!

Nicolas Vitale
Owner of Trading Automatique and Automated Trading
Director of Alpha Novae Limited

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