JWBK169-Lien July 3, 2007 13:56
Chapter 13
Man Versus
Machine
Steven Ickow
As computerized “black box” trading has proliferated across eq-
uity markets, sometimes accounting for as much 70 percent of the
daily volume on NYSE and Nasdaq, traders have bemoaned the
fact that machines have made trading impossible. Yet Steven Ickow
is one guy who is testament to human ingenuity and resourceful-
ness. Not only has he been able to adapt to the new “black box”
regime of the machines, but he has prospered by taking advantage
of the software robots. A highly disciplined trader, Ickow lives an
almost ascetic existence, locked in his home office for six and half
hours each day without any interruptions from the outside world.
This sense of focus and discipline has made him one of the most
consistent traders in the game, registering only 4 losing days out of
the last 180. From his home in suburban Chicago, Steve sat with us
one day after the close, to chat about his approach to the markets
and to share some of the tricks of the trade.