Podcast
Questions and Answers
What is the primary difference between a static and a dynamic character?
What is the primary difference between a static and a dynamic character?
- A static character learns from conflict, while a dynamic character remains unchanged.
- A static character is always a protagonist, while a dynamic character is always an antagonist.
- A static character is well-developed, while a dynamic character is not fully fleshed out.
- A static character undergoes no change, while a dynamic character changes due to conflict. (correct)
Which character type typically experiences a revelation that alters their perspective?
Which character type typically experiences a revelation that alters their perspective?
- Foil
- Stock
- Dynamic (correct)
- Static
Which of the following best describes a static character's reaction to conflict?
Which of the following best describes a static character's reaction to conflict?
- The character remains unchanged in thought or personality. (correct)
- The character initially resists change but eventually adapts.
- The character's core beliefs are challenged and changed.
- The character radically alters their approach to life.
In what way does a dynamic character typically evolve during a narrative?
In what way does a dynamic character typically evolve during a narrative?
Consider a protagonist who begins a story with strong prejudices but, through experiencing various events, learns tolerance and acceptance. What type of character is this?
Consider a protagonist who begins a story with strong prejudices but, through experiencing various events, learns tolerance and acceptance. What type of character is this?
A character who staunchly maintains their values and beliefs from the beginning to the end of a story, despite facing numerous challenges, exemplifies what type of character?
A character who staunchly maintains their values and beliefs from the beginning to the end of a story, despite facing numerous challenges, exemplifies what type of character?
A character's revelation in a story often leads to what kind of change?
A character's revelation in a story often leads to what kind of change?
What is a key characteristic of a static character that distinguishes them from other character types?
What is a key characteristic of a static character that distinguishes them from other character types?
How does conflict commonly influence a dynamic character's development?
How does conflict commonly influence a dynamic character's development?
Which of the following correctly matches the character type with its typical behavior?
Which of the following correctly matches the character type with its typical behavior?
How would a static character most likely respond to a life-altering event?
How would a static character most likely respond to a life-altering event?
Which of these statements accurately portrays the relationship between dynamic characters and narrative conflict?
Which of these statements accurately portrays the relationship between dynamic characters and narrative conflict?
What is the main effect of a revelation on a dynamic character?
What is the main effect of a revelation on a dynamic character?
Which of the following scenarios would be most likely to feature a dynamic character arc?
Which of the following scenarios would be most likely to feature a dynamic character arc?
Which element is LEAST likely to be associated with a static character??
Which element is LEAST likely to be associated with a static character??
How does a dynamic character's behavior at the end of a story compare to their initial behavior?
How does a dynamic character's behavior at the end of a story compare to their initial behavior?
In a tale of self-discovery, a character’s journey leads them to abandon long-held prejudices and embrace new perspectives. Which character type aligns most closely with this transformation?
In a tale of self-discovery, a character’s journey leads them to abandon long-held prejudices and embrace new perspectives. Which character type aligns most closely with this transformation?
An experienced detective, known for never deviating from tried-and-true methods, encounters a case that challenges everything he knows. If he remains steadfast in his approach, which character type does he best represent?
An experienced detective, known for never deviating from tried-and-true methods, encounters a case that challenges everything he knows. If he remains steadfast in his approach, which character type does he best represent?
A novel begins with a cynical business executive focused solely on profit. Through a series of encounters, they learn the importance of empathy and social responsibility, eventually restructuring their company to prioritize these values. Which type of character best fits this description?
A novel begins with a cynical business executive focused solely on profit. Through a series of encounters, they learn the importance of empathy and social responsibility, eventually restructuring their company to prioritize these values. Which type of character best fits this description?
Which concept is most closely related to the development of a dynamic character?
Which concept is most closely related to the development of a dynamic character?
Flashcards
Static Character
Static Character
A character that remains the same throughout the story, undergoing no change in thought or personality, even when involved in conflict.
Dynamic Character
Dynamic Character
A character who undergoes a change as a result of learning from conflict, experiencing a revelation that changes his or her views.
Study Notes
Algorithmic Trading
- Requires the execution of orders based on preprogrammed instructions.
Algorithmic Trading Objectives
- Aims to lower transaction costs through VWAP, TWAP, percentage of volume, and implementation shortfall strategies.
- Seeks to improve execution speed in liquid markets, capitalizing on fleeting opportunities.
- Strives to obtain anonymity to conceal trading intentions.
- Automates routine trading tasks.
Order Types
Market Order
- Gets executed immediately at the best available price.
- Bears the risk of price impact.
- Has a high fill probability.
- Has the highest market impact.
- Best utilized when certainty of execution is a priority.
Limit Order
- Gets executed only at the specified limit price or better.
- Risks non-execution.
- Fill probability depends on the limit price.
- Causes less market impact than market orders.
- Best utilized when price is more important than certainty of execution.
Marketable Limit Order
- Involves a limit price at or better than the best available price.
- Functions similarly to a market order but includes a price cap.
Other Order Types
- Stop Order gets activated when a specified stop price is reached.
- Stop-Limit Order starts as a stop order, becoming a limit order upon activation.
- Hidden Order (Iceberg Order) shows only a portion of the order.
- Immediate-or-Cancel (IOC) Order cancels any portion of the order that is not immediately executed.
- All-or-None (AON) Order gets executed only if the entire quantity can be filled.
Electronic Communication Networks (ECNs)
- These are automated systems that match buy and sell orders.
- Enhance transparency and lower transaction costs.
- Nasdaq and NYSE Arca are prime examples of ECNs.
Dark Pools
- These are private exchanges or forums for trading securities.
- Provide anonymity but less transparency.
- Particularly useful for large block orders.
- They raise concerns about potential market manipulation.
Order Placement
Routing
- Involves directing an order to a specific exchange or market center.
- Smart Order Routers (SORs) automatically route orders to the best available market.
Order Book
- Is an electronic list of buy and sell orders for a specific security.
- Displays order size and price at different levels.
Execution
Fill Rate
- Represents the percentage of an order that is successfully executed.
- Gets affected by order size, market liquidity, and order type.
Slippage
- Is the difference between the expected trade price and the actual execution price.
- Results from market impact and price volatility.
Performance Evaluation
Benchmarks
- Volume-Weighted Average Price (VWAP) is the average security price weighted by trading volume. $$ \operatorname{V} W A P=\frac{\sum_{i=1}^{n} P_{i} \times Q_{i}}{\sum_{i=1}^{n} Q_{i}} $$ where $P_i$ is the price of the $i$th trade and $Q_i$ is the quantity of shares traded in the $i$th trade.
- Time-Weighted Average Price (TWAP) is the average security price over a specified period. $$ T W A P=\frac{\sum_{i=1}^{n} P_{i}}{n} $$ where $P_i$ is the price at time $i$, and $n$ is the number of prices observed.
- Implementation Shortfall is the difference between the actual portfolio return and the return of a paper portfolio without market impact. $$ \text { Implementation Shortfall }=\left(P_{t}-P_{0}\right) Q-C+O C $$ where $P_t$ is the final portfolio value, $P_0$ is the initiatl portfolio value, $Q$ is the number of shares, $C$ is the commission paid, and $OC$ is the opportunity cost due to unfilled orders.
Example
High-Frequency Trading (HFT)
- Is a type of algorithmic trading with high speeds, turnover rates, and short-term investment horizons.
- Used for market making and arbitrage.
- Creates controversies regarding fairness and market manipulation potential.
Statistical Arbitrage
- Is a type of algorithmic trading that exploits statistical relationships between securities.
- Employs complex models and large datasets.
- Includes pairs trading and index arbitrage.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
