The full text is just Brother Hammer's personal opinion. If you don't like it, you can discuss it in the background or add me on WeChat. Don't spray it.
Many friends didn't know what market, what type, or strategy to do at the beginning. After reading the dazzling articles, they did this for a while and did that for a while, and learned a lot, except for the strategy that can be firm. This article talks about my views on this issue.
1. Programming
Beginners or quants who are still struggling must use python, must use python. Because python has the most and most complete learning materials, basically out of the box, and the language itself is simple and easy to use.
Some friends used to have other language foundations and were reluctant to let go, or thought that cpp rust was more advanced. It is true that cpp is difficult and can be mastered very well, but remember that your purpose is not to show off skills, but to make a solid offer. For the same moving average strategy, cpp deployment takes 10 times as long as pyrhon, which is completely unnecessary. The longer you spend on programming, the more likely you will give up halfway.
Some people also say that python is slow, indeed. But cpp is prepared for the one-in-a-million people. There are a lot of high-frequency ones, and the ones that are made are insignificant. In fact, 99% of the strategies are not needed, and python is completely sufficient. Most of the people who struggle with this are the stereotypes that they have little knowledge of the strategy and do not know where to learn from the article.
2. Rivers and lakes Or temples
Do you want to work in an institution, or do you play on your own? this is a problem. Some friends have a programming background and want to switch careers to work in institutions, hoping to learn some dry goods. Regarding this question, Brother Hammer thinks that we should look at it dialectically:
(1) It is indeed more likely to get systematic training in an institution. The premise is that the person who guides you is reliable. If you encounter unreliable people, it is really a disaster for a lifetime. In addition, the company must have this kind of training mechanism. Of course, it is more likely that you will concentrate on one part of the assembly line and work as a screw.
(2) The trading environment of institutions is not better than that of retail investors (except for high-frequency fields that require large investment). Retail investors can trade very flexibly and can do a lot of things. Compared with public offerings, retail investors have great advantages, with low fees and fewer transaction restrictions. If you know a little bit of skill, you can even cut the leeks of the organization. It is inconvenient to talk about it publicly, and you have the opportunity to say it on the planet. Of course, some strategies are actually harvesting loopholes in other people’s transactions, such as the arbitrage of internal and external futures that has been blocked. Can you? Earning is really a matter of understanding, and it can be explained in one sentence.
(3) If you are just playing as an amateur and you have a decent job, then there is really no need to change jobs. It is not bad to have a barbell strategy (stable cash flow + aggressive self-employment) for your life, just like a hammer Same as brother. If you are like this, why not buy a planet from Brother Hammer and let us fly together.
(4) Although there are many myths about private equity making wealth in the past two years, the bonus period has passed, and the latecomers will suffer in the market of involution, and private equity is too much based on the character of the boss.
3. Market and strategy
Choosing the right market is more important than choosing the right strategy. There are only a few mainstream markets, such as stocks, commodity futures, options, and others.
The first choice is stocks. Some people will say that stocks are too cumbersome, and now there are so many quantitative private placements. But in fact, there should not be too much private placement of futures and options. How much hot money has poured into it in the past two years, compared with the market capacity of futures and options itself, it is already very saturated, and it is more voluptuous than stocks. There are certain requirements for funds, so naturally hundreds of thousands of small powder are kept out, and the leek content is very low.
Another point is that quantification requires breadth. Whether it is choosing to hold or timing, broadening the breadth can increase the probability of quantitative profitability. There are more than 4,000 stocks, and there is a daily limit. Looking at the breadth of futures and options, it is not an order of magnitude at all.
As for the strategy, I won't say too much here, just 2 points:
(1) Regardless of cross-section, timing, or alternative, do what you are familiar with, and give priority to realizing your own ideas. For example, if you have stayed in a certain type of industry for a long time, then do this type of strategy and quantify your own ideas. A good strategy is not in the model, but in the idea.
(2) Don't follow the organization roll, you have your own way of playing.
4. About the real offer
1. Make a firm offer as soon as possible, simple ones are fine, don’t have cleanliness and obsessive-compulsive disorder, and improve in actual combat.
2. Carefully backtest, be aware of the retracement (it is a retracement), know your own level, be able to withstand the retracement, and then slowly find a better strategy.
3. Deepen the understanding of the strategy, know what the strategy makes money, and know when the strategy may not perform well.
4. Don't change blindly after the firm offer.