bots, page-25

As I have read that 80% of trading on US markets is performed by High Frequency traders, and that the Australian market is really only at the beginning of the experience, I fear that what we would have experienced in the past with market cycles, may prove to be somewhat different to how it will pan out in the future.

The upto 3% swings from day to day on the american market seems, to me, to have less to do with over emotional human investors but more to do with opportunistic computer systems continually on watch for initially small changes in demand or supply, the many systems responding as though in unison, and then as a result we see a large change in the indexes.

Fortunately with PGI our bot does not seem overly aggressive as was said by Donum but I fear that even the greatest fundamentalists will be prepared to act more quickly if bot skimming tactics become the significant trading style of the market.

But having said that, I am confident about the future of PGI. I just hope that the market will be fair to all human investors.