Ernest Chan's guide is inspirational and full of lesson's he's had to learn the hard way.
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).
Great introductory book to Algo trading. A quick a light read covering the basics and the major aspects of algo trading geared for the retail trader. 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.
This is a disappointing book. Partly because it could have been so much better.
First the positives. The author is clearly intelligent, and honest. He describes his background in academic physics, then failing to make money as a quant trader. He sets up on his own, using simpler strategies and makes money. And writes a book.
But, this book is heavily based on a US tax regime. Anyone doing high frequency trading in the UK needs to think about stamp duty. Ok, so you could do CFD trading, but you still pay CGT.
My more fundamental criticism is that this book is mainly about back testing historic price movements with eigenvectors, covariance matrices, using matlab to analyse daily price movements. I was intrigued by the book, because I think there is a genuine opportunity for retail investors to improve performance using more quant-type approaches. For instance, using some simple screens to identify "Growth At a Reasonable Price" (GARP) or yield stocks that have well covered dividends. But this book is not it.
Honestly, retail investors would be better off reading (and then re-reading) The Intelligent Investor and Warren Buffett's letters.
Great, and quickly read, introduction to quantitative trading.
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.
Although the book had immense potential given the authors lustrous background, it failed to live up to expectations. As opposed to delving into actual methods (or exanples) of algorithmic trading, we received advice on skill sets needed and other things which, while relevant, was not the reason i purchased the book. On the upside the book was layed out in an easy, understandable manner and even a novice would be able to follow through without losing interest.
Well written, easy to read. More biased towards stocks and shares (and their derivatives). Well worth a read. Written by somebody with previous commercial experience (Banks, Hedge Funds) who then set up on his own.