Let me share with you two different perpectives of the QT system of algo trading.
In 1978, I joined a large Wall Street firm as a retail broker. In the following 13 years as a broker and as a Principal, I saw several things that kept most brokerage clients from making money. In no particular order they were: Fear, Greed, Ignorance, and the willingness to believe a bad story (which I abbreviate to BS).
I also saw brokers, traders, and other employee types make different mistakes such as Lack of Fear, Total Greed, Ignorance, and the ability to make up a bad story that others will believe.
What does QT do to resolve these issues? QT makes all of the above irrelevant by removing all emotion. And by doing so, all of the mistakes we have made in the past (and I’m raising my hand first!) no longer apply. Its simplicity is what will make you a consistent trader.
The MOST important aspect of QT is back testing. If someone cannot show back testing for their ideas, don”t walk, RUN away. Notice that BS (bad stories) cannot meet this test.
Wow…..would I ever like a life do-over.