Finance sites erroneously show Amazon, Apple, other stocks crashing

Post by stale2002 » Tue, Jul 04, 2017, 3:44 AM UTC

ams6110 wrote: post #26

Flammy wrote: post #6

Earlier quoted context omitted.

Stock tracking websites don't need to be perfect, just need to be better than the humans they replaced. Faster, free, and less errors doesn't mean they must be error free. Self driving cars just need to be better than humans, and given the number of teens and senior citizens on the road...

As someone contemplating the purchase of one, a self-driving car needs to be better than me . That's a higher bar than better than average even if it's not objectively correct.

Post by goodplay » Tue, Jul 04, 2017, 4:12 AM UTC

stale2002 wrote: post #51

ams6110 wrote: post #26

Earlier quoted context omitted.

As someone contemplating the purchase of one, a self-driving car needs to be better than me . That's a higher bar than better than average even if it's not objectively correct.

Do you ever use a taxi? Because if you do, you are putting your life into the hands of someone who could be a much worse driver than you. Instead of putting your life in the hands of a terrible taxi driver, would you put it in the hands of software that is on average better than a taxi driver? You are in a taxi, so you don't get to choose to drive it yourself.

Post by red_phone » Tue, Jul 04, 2017, 4:25 AM UTC

bendbro wrote: post #52

trothamel wrote: post #38

One nice thing about SEC-regulated markets - unlike the various cryptocurrency markets - is that it's possible for trades to be rolled back if they are "clearly erroneous". That isn't perfect - if the data is only a little off, it might not be possible to get a trade rolled back - but it tends to limit how much havoc is called. https://www.sec.gov/news/press/2009/2009-215.htm (My understanding is that trades can also…

Why can't majority participants in a crypto currency agree to roll back?

Post by triangleman » Tue, Jul 04, 2017, 4:57 AM UTC

stale2002 wrote: post #48

MichaelGG wrote: post #46

Earlier quoted context omitted.

Isn't that sort of what happened in the "flash crash"? Or was it purely market-makers and algorithms working their way down to 0? Big regulated markets now have circuit breakers to prevent this, unfortunately.

But the idea is that you put a buy option at the low price. Ie, you say "I would like to buy 1 million microsoft stock, at the price of 1 cent". The flash crash was cause by stop-loss orders. IE, if the price gets low, then sell. Instead of price gets low, then buy.

Post by MichaelDickens » Tue, Jul 04, 2017, 5:13 AM UTC

comboy wrote: post #8

grondilu wrote: post #5

Sometimes I wonder if it would make sense to place long-term buy orders at a ridiculously low bids. Just in case.

On Bitcoin exchanges, sure. But here I think there's too much liquidity and automated trading.