kode adsense disini
Hot Best Seller

Quantitative Trading: How to Build Your Own Algorithmic Trading Business

Availability: Ready to download

While institutional traders continue to implement quantitative (or algorithmic) trading, many independent traders have wondered if they can still challenge powerful industry professionals at their own game? The answer is "yes," and in Quantitative Trading, Dr. Ernest Chan, a respected independent trader and consultant, will show you how. Whether you're an independent "reta While institutional traders continue to implement quantitative (or algorithmic) trading, many independent traders have wondered if they can still challenge powerful industry professionals at their own game? The answer is "yes," and in Quantitative Trading, Dr. Ernest Chan, a respected independent trader and consultant, will show you how. Whether you're an independent "retail" trader looking to start your own quantitative trading business or an individual who aspires to work as a quantitative trader at a major financial institution, this practical guide contains the information you need to succeed.


Compare
kode adsense disini

While institutional traders continue to implement quantitative (or algorithmic) trading, many independent traders have wondered if they can still challenge powerful industry professionals at their own game? The answer is "yes," and in Quantitative Trading, Dr. Ernest Chan, a respected independent trader and consultant, will show you how. Whether you're an independent "reta While institutional traders continue to implement quantitative (or algorithmic) trading, many independent traders have wondered if they can still challenge powerful industry professionals at their own game? The answer is "yes," and in Quantitative Trading, Dr. Ernest Chan, a respected independent trader and consultant, will show you how. Whether you're an independent "retail" trader looking to start your own quantitative trading business or an individual who aspires to work as a quantitative trader at a major financial institution, this practical guide contains the information you need to succeed.

30 review for Quantitative Trading: How to Build Your Own Algorithmic Trading Business

  1. 4 out of 5

    Ying Ying

    This a very readable introduction to quantitative trading and is quite motivational at the same time. Ernest tells us that individual traders could set up profitable businesses thanks to the lack of restrictions that big hedge funds face. The content of the book can be classified into three sections: I. Introduction: Quantitative trading is defined and the status is described (1/3 of US trading volume as of his writing) II. Algorithmic Trading Business: the necessary steps in setting up a trading This a very readable introduction to quantitative trading and is quite motivational at the same time. Ernest tells us that individual traders could set up profitable businesses thanks to the lack of restrictions that big hedge funds face. The content of the book can be classified into three sections: I. Introduction: Quantitative trading is defined and the status is described (1/3 of US trading volume as of his writing) II. Algorithmic Trading Business: the necessary steps in setting up a trading business are: a) Seeking a trading idea: sources for ideas include academic research, blogs and forums. b) Backtesting and evaluating against a benchmark and assessing consistency. c) Setting up the business, either with a retail broker or proprietary trading firm and ensuring the necessary physical infrastructure, which initially can be limited to a laptop, Internet access and uninterruptible power supply. d) Performing paper trading to check the performance of the strategy and make adjustments as necessary. e) Building the algorithmic trading system, either semi-automated or fully automated. f) Managing risk: taking into account the amount of leverage and stop loss transactions. Other risks to be considered include: model risk, software risk and disaster risk. III. Advanced subjects and round-up: Topics such as factor model, mean-reversion, momentum, stationarity, co-integration, seasonal trading are explored. Next steps such as testing for new strategies, looking for investors and sharing profitability with big hedge funds are discussed. Some biases that appear in the book include: survivorship bias, data snooping bias, look-ahead bias, and behavioral biases such as status quo bias and loss aversion, as well as emotions of fear and greed. Overall, this is a great handbook to start out; however, in order to fully profit from this book, one should be familiar with some kind of programming language, in this case with MATLAB.

  2. 5 out of 5

    Clare

    I attended a two day seminar by Ernie Chan at which this book was handed out. I hoped it would be more technical, getting into the mathematics of stat arb, but it is in fact a more general introduction to running your own business that happens to be trading... He does briefly mention the Kelly criterion, which I found useful.

  3. 5 out of 5

    Rabib

    Quick and to the point. Excellent information to boot!

  4. 4 out of 5

    Jacob

    I found the book quite helpful in terms of how to set up the infrastructure (which programs, which brokers, how to get data, ...) for a quant trading operation. Prior to reading this, it was my impression that individuals were shut out quant trading due to data being too expensive, connections being too slow, etc. However, the financial industry turns out to meet all needs on a continuous spectrum from single entry retail to excel driven order to colocated servers running software written by out I found the book quite helpful in terms of how to set up the infrastructure (which programs, which brokers, how to get data, ...) for a quant trading operation. Prior to reading this, it was my impression that individuals were shut out quant trading due to data being too expensive, connections being too slow, etc. However, the financial industry turns out to meet all needs on a continuous spectrum from single entry retail to excel driven order to colocated servers running software written by outsourced programmers.

  5. 5 out of 5

    Aashish Rathi

    A very good book for an intro to quantitative trading. Lots of exercises in matlab. Code and data is available on the author's website. This is not a primer on investing in the stock market, so you'll see some jargon here and there, but nothing you can't understand/look up.

  6. 4 out of 5

    Gaurav Chhaparwal

    Great book for an introduction to quantitative trading. Starting from the very basics, the author constantly keeps it real while increasing the complexity. The focus is not as much on the strategy for trading as all other aspects related to setup, back testing and pit falls to watch out for. It might be slightly dated though from the perspective of 2018 where python and R libraries have developed far beyond the matlab based preliminary algorithms.

  7. 4 out of 5

    BG

    Good introductory read into the world of quantitative trading, some existing methods and everything surrounding setting up an own trading business. Currently the book is a bit over 10 years old, which is quite a lot in this business. The examples are nice to see, but one should double check how relevant and useful they are in the current days. All by all it was a bit too shallow for me personally.

  8. 4 out of 5

    Sumit Ghosh

    Very comprehensive yet approachable. The book contains information on the practical and business part of trading as an individual, as well as the theoretical technical analysis required to do so. The author does not go into details explaining each finance terms though, so in a way it's not a friendly to a complete beginner, but the terms are nothing a quick google search won't explain.

  9. 5 out of 5

    Xinhui Huang

    For beginners Well organized book on retail quantitative trading business. This book covers all aspects of starting your own quant shop (though only touching the basics). Focus is more on operational side than actual strategy research.

  10. 4 out of 5

    Tejas

    This book gives basic information about quantitative trading. Some of the points are well explained like sharp ratio, Kelly ratio for leverage and some strategies in chapter 7. But haven't learned new from this, as I am already an algo trader. But for the beginner this is very informative book.

  11. 4 out of 5

    Peter

    Intro book to quant trading. Only a few references to potential math applications; a good place to start if you know nothing about the business.

  12. 5 out of 5

    Miguel Paysan

    This review has been hidden because it contains spoilers. To view it, click here. good reference, for when I go back to this book after learning more of the basic financial terms&strategies good reference, for when I go back to this book after learning more of the basic financial terms&strategies

  13. 5 out of 5

    Christian Jensen

    Great introduction for anyone interested in quantitative trading.

  14. 4 out of 5

    Tomas Andrade

    Great book for very beginners in both quantitative trading and trading in general. It doesn't delve deeply into specific techniques and mathematical theory of quantitative theory, but it lays a good foundation regarding how to judge trading strategies and common pitfalls of algorithmic knowledge in general (like data snooping). For readers new to trading, the book also covers important general trading topics like risk management and psychology.

  15. 5 out of 5

    Jacob

    This was a fairly readable book based on a guy who trades (mostly) automatically and makes money at it. I found his ideas interesting, although his assertions up front that you don't need to know much in terms of math or statistics are undermined by the later examples, e.g. involving some matrix operations and calculations based on Gaussian distributions. This book seems like more of an add-on to getting a more foundational knowledge of quantitative trading from other sources. He does a good job This was a fairly readable book based on a guy who trades (mostly) automatically and makes money at it. I found his ideas interesting, although his assertions up front that you don't need to know much in terms of math or statistics are undermined by the later examples, e.g. involving some matrix operations and calculations based on Gaussian distributions. This book seems like more of an add-on to getting a more foundational knowledge of quantitative trading from other sources. He does a good job of covering the most common errors and biases in developing a quantitative trading system, including why those errors hurt and how to figure out when a strategy incorporates them.

  16. 4 out of 5

    Jeff

    This is a relatively good introduction to quantitative/algorithmic trading, but is marred by a few (substantial) flaws. While the author gives lip-service to risk management and even discusses the idea of "black swan" events, his advice isn't sufficiently different enough from the CW of finance in general to convince me that his risk management advice is worth much. There are some good sections on avoiding various biases in data collection and there is ample discussion on avoiding overfitting. Un This is a relatively good introduction to quantitative/algorithmic trading, but is marred by a few (substantial) flaws. While the author gives lip-service to risk management and even discusses the idea of "black swan" events, his advice isn't sufficiently different enough from the CW of finance in general to convince me that his risk management advice is worth much. There are some good sections on avoiding various biases in data collection and there is ample discussion on avoiding overfitting. Unfortunately, the cavalier approach to risk management is a series flaw.

  17. 5 out of 5

    Hui Fang

    Some good insights from an experienced quantitative trader. Highlighted several pitfalls especially in backtesting, and how to be skeptical before deciding whether to spend efforts on a certain strategy or not. He stressed several times that simple strategies are usually the best (which I agree), because fancy stuff are seldom robust. There are codes but it would be better if they can be downloaded in a single click instead of downloading several files one by one.

  18. 4 out of 5

    Ben Pu

    Easy to read, not overly pedantic, contains some useful insights. Not too useful for those already in the industry, but good as an introduction for those who would like to enter or start a small business of their own.

  19. 5 out of 5

    V

    Almost done. Great insight and gave me some powerful ideas for algorithm development. Has become slightly dated as it pushes MATLAB heavily whereas R and Python seem to have supplanted it regarding reliance on backtesting and execution.

  20. 4 out of 5

    Nuno Gaspar

    Enjoyable, but was expecting a lot more...

  21. 5 out of 5

    Saad

    An easy intro if you are looking to read into some Quant methods. Very basic

  22. 5 out of 5

    Rodrigo Pérez

    It´s a good introduction to quantitative trading. Ernest explains almost all in general terms.

  23. 5 out of 5

    Prati

    An excellent read for new traders or anyone interested in learning more about black-box.

  24. 5 out of 5

    Jacob

    A comprehensive introduction to quant trading, especially attending to details.

  25. 4 out of 5

    Christopher Stroh

  26. 4 out of 5

    Piotr

  27. 5 out of 5

    Sanchit Mall

  28. 5 out of 5

    Sohail Somani

  29. 5 out of 5

    Mark

  30. 4 out of 5

    Zian Wei

Add a review

Your email address will not be published. Required fields are marked *

Loading...
We use cookies to give you the best online experience. By using our website you agree to our use of cookies in accordance with our cookie policy.