Voice-assisted trading

[SandySouth]

Hi Community, 

Are there any traders that use voice-assisted trading tools for their trading? How have you find the quality of the commands/tools itself? 

I'm interested to hear your experiences. 

Thank you for your help! 

[SandySouth]

Hi,

Following-up, does anyone have any thoughts on this?

Thank you

[JohnnyRy]

Although I don't use voice assistants, here are my thoughts:

1. How accurate is your voice assistant? For example if you say, "Sell 1 share of Apple," and it replies, "Sure, I can help you sell apples," that could be a problem.
2. How fast is your hardware that supports your voice assistant? For example if you have a Bluetooth wireless earpiece connected to a device that, in turn, connects wirelessly to your broker-dealer's trade server, you have 2 layers of connectivity that are vulnerable to interference and likely slower than a straight high speed hardwired connection.
3. I suspect that a one-click trading button, an assigned hot key, or an auto-trading algorithm running on a hardwired desktop are tough to beat.

Edited August 27, 2023 by JohnnyRy

[SandySouth]

Hi @JohnnyRy,

These are super interesting points you raise. Do you think it would improve trading efficiency of placing/executing a trade if a voice-assisted trading assistant was used in such a way?

Alternatively, do you think it would help with your chart set up on mobile devices?

I'm really curious to know the opinion of others on this topic... 

Thank you

[JohnnyRy]

Thank you for acknowledging interest in my reply.

1 hour ago, SandySouth said:

Do you think it would improve trading efficiency of placing/executing a trade if a voice-assisted trading assistant was used in such a way?

I believe it depends upon a given trader's strategy and preexisting method of placing orders. For example, simultaneously manually trading a basket of instruments could be daunting... especially if those instruments were in different markets and/or different trading platforms. It would certainly be easier to simply bark out, "Buy 1 standard lot of spot EURUSD at market price and sell 5 contracts of EURUSD futures at market price!" Having said that, I would want a voice assistant to operate at least with the speed of ChatGPT.

On the other hand, an auto-trading algorithm (bot) can send an order before a trader can say, "bot." Truth be told, this is how I actually trade. Also, manually trading a single instrument in a single market and in a single platform by way of one click or hot key is likely tough to beat. Everything has its costs and benefits, of course. In 2012, a professional quant (or quants) 440 million USD due to an algo error: https://www.bbc.com/news/magazine-19214294. Professional hot key traders have fallen asleep at the wheel and lost tens of millions as well. I haven't heard of any voice assistant errors... yet.

1 hour ago, SandySouth said:

do you think it would help with your chart set up on mobile devices?

I've actually completely avoided trading on mobile devices. What I do use a mobile device for, and why I don't trade with it is posted at:

I don't believe that implementing voice assisted trading will solve the wireless connection integrity issues posted in that thread.

I hope some more traders will reply to this thread if they have a real solution.

Edited August 30, 2023 by JohnnyRy

[Trading_psychology]

On 19/08/2023 at 19:41, SandySouth said:

Hi Community, 

Are there any traders that use voice-assisted trading tools for their trading? How have you find the quality of the commands/tools itself? 

I'm interested to hear your experiences. 

Thank you for your help! 

I think this is possible from technology perspective.

but I'm concern on its reliability. so i will skip it in live trading.