I’m in big trouble. Actually, I’m in big trouble twice. One of my ‘bots, or automated personal agents if you like, hit an auction site and instead of just getting the lowest price on an item I want, it bid on all available items of that type. I now owe $24,572.38 to various vendors. If that weren’t bad enough, my stock ‘bot went and sold all my stock in a great company because the stop loss value was reached. But that limit triggered the ‘bot based on a stock split, not an actual decrease in value. Of course, the stock shot up on the same day before I got a chance to re-purchase. I should have stayed with the toolset provided by my broker and not that build-it-yourself engine. Oh well. My bad.
The truth is, none of this really happened. Not yet anyway. The thing is though, more of these automated tools are leaving the space of early ideas and earlier failed attempts to create such things and are increasingly out there and available. Like so many other technologies, they’re supposedly going to make life easier. I don’t have to watch items for auction because I can set my limit prices and forget it. Same with stocks. In fact, such tools are probably BETTER for me than doing things manually, as they can remove the emotional component of bidding. Of fearing lack of gain or of experiencing loss. After all, if I’ve done my research and have my personal limits, that’s what I should stick with. In the midst of a fight though, I might get out of control and go beyond my rational limits. (This has apparently happened before. At least according to family members, girlfriends and friends.)
The ‘bottom line, (pun intended), is I’m responsible for my agent.