We propose a mathematical model of momentum risk-taking, which is real-time risk management, and discuss its implementation: an automated momentum equity trading system. Risk-taking is one of the key components of general decision-making, a challenge for artificial intelligence and machine learning. We begin with a simple continuous model of news impact and then perform its discretization, adjusting it to dealing with discontinuous functions. Stock charts are the main examples for us; stock markets are quite a test for any risk management theories. An entirely automated trading system based on our approach proved to be successful in extensive historical and real-time experiments. Its preimage is a new contract card game presented at the end of the paper.
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