The original page has been withdrawn due to our concepts (first released 1995) being copied
by commercial organisations without permission, attribution, or acknowledgement.
Consequently, the quantity of "free" information has been reduced.
Segments which disclose details useful to professionals, have been withdrawn.
This website was published for the benefit of lone-private-traders, who are at a disadvantage to the "majors" who are the markets". After 10 years it's still the only site providing such depth of information. This had an influence we did not anticipate. The "majors", aware they can be seen, changed their behaviour. Disadvantaging the lone-retail-trader, the people we were trying to help. The "free demo systems" and "screenshots" pages, showing how it was done, was being used by the majors - all for free. So we removed them. The lone-retail-traders are just now waking up to what is going on. 3 years late.
One US based software system came to prominence in 2003. Following in the footsteps of camron systems, 1996, focusing on volume, tick-size filters, order flow, and hit side analysis. While being marketed to the to the retail-minors, it is also being marketed aggressively to the international-broking-industry, the majors, at the same time. Of all people. Broadcasting to the algorithm developers what to disguise. A reasonable assumption the system has been an influence in the explosion of the quantity, complexity, and use of algorithm systems (since 2003). One certainty. The prime-brokers have not sat idly by.
The prime-market-movers are introducing new methods and machines, so the questions are
(a) what are algorithmic trading systems - see page 24 algorithmic trading
(b) what do they do
(c) how do they do it
You will find a large quantity of material about (a) and (b) and nothing about (c)
Search the web and you will find
(a) millions of small retail bunnies posting their ideas and solutions for the world to see.
(b) zero from the developers and users of robots etc.
All the majors have to do is every now and then search the web. Where all the bunnies tell them what changes need implementing. It doesnt work the other way round. Free Research & Development.
One reason prime-brokers don't publish details of how their algorithms work is the fear of reverse engineering. Approximately 80 percent of algorithms use VWAP. It seems unlikely many developers are devoting much time on reverse engineering other strategies. Algorithms appear to lose their advantage over time due to competition.
one important market change.
CFD backed activity on the ASX-ASE has increased markedly.
The CFD market is unregulated, hidden, un-reported, off-market.
Follow the external links on the algorithmic trading page above.
The external links discuss "dark pools" and "hidden pools" of liquidity.
It's what these "modern" developments are designed to achieve.
screen design
the gorilla puzzle in action. See if you can see the gorilla.
See how long you can look at the following screen, and keep focused on one thing.
From the "chicago board options exchange" at http://www.cboe.com/MktQuote/RTQuoteReg.asp
There are many apects to this image
One is the power to draw your attention to one aspect - momentarily
One is the power to draw your attention away from what's missing.
One key component is missing.
Can you see what's missing ?
