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Product Description
From the Inside Flap
By some estimates, quantitative (or algorithmic) trading now accounts for over one–third of trading volume in the United States. While institutional traders continue to implement this highly effective approach, many independent traders—with limited resources and less computing power—have wondered if they can still challenge powerful industry professionals at their own game? The answer is "yes," and in Quantitative Trading, author 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.
Organized around the steps you should take to start trading quantitatively, this book skillfully addresses how to:
Find a viable trading strategy that you′re both comfortable with and confident in
Backtest your strategy—with MATLAB®, Excel, and other platforms—to ensure good historical performance
Build and implement an automated trading system to execute your strategy
Scale up or wind down your strategies depending on their real–world profitability
Manage the money and risks involved in holding positions generated by your strategy
Incorporate advanced concepts that most professionals use into your everyday trading activities
And much more
While Dr. Chan takes the time to outline the essential aspects of turning quantitative trading strategies into profits, he doesn′t get into overly theoretical or sophisticated theories. Instead, he highlights the simple tools and techniques you can use to gain a much–needed edge over today′s institutional traders.
And for those who want to keep up with the latest news, ideas, and trends in quantitative trading, you′re welcome to visit Dr. Chan′s blog, epchan.blogspot.com, as well as his premium content Web site, epchan.com/subscriptions, which you′ll have free access to with purchase of this book.
As an independent trader, you′re free from the con–straints found in today′s institutional environment—and as long as you adhere to the discipline of quantitative trading, you can achieve significant returns. With this reliable resource as your guide, you′ll quickly discover what it takes to make it in such a dynamic and demanding field.
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Customer Reviews
As this mainly focuses on how to setup your automated trading business, it deals more with the practicalities involved in setting up, and less with strategies and risk management, though it does skim the surface of this admittedly large topic.
Well recommended to the curious investor.
He covers many topics necessary to set up your own automated-trading business from home.
Although many skills are necessary for this, he covers the basics of them all without dwelling too much on excessive detail.
Like most trading books, the content is US-centric but not annoyingly so.
A very inspiring read, I now a lot more about how to measure the performance of my existing portfolio and more carefully choose how much to invest in each strategy. I also feel confident to begin my own algorithmic research and hopefully trading (currently I'm not using algorithmic methods).
I can't really past judgement on the strategies recommended as I am relatively new to trading.
It has given me some ideas and knowledge in this otherwise esoteric field of trading.
A good starting point if you are new to algo trading.
Listmania!
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