The original source is:The Financials
In general, the daily work of all quant traders is divided into two parts, one is the management and maintenance of existing strategies, and two is the development of new strategies.
The following answer comes from: An anonymous CTA fund manager managing over $500 million
In the first half hour of the morning, Little A is busy opening up various trading software, including Shenhua Finance, Big Wise, Sunflower, Fast, Wander, TB, MC, etc., and then manually adjusting the accounts, the ratio of funds in each variety, the contracts of the token, the overnight shibor interest, etc.
2, after opening the market, small A artificial tray N varieties, open 8, 16, 32 market windows, ensure the program normal trading, no obvious bug, no messy issuance phenomenon, in the middle of the market to be mindful of the market, then when the sluggish market beyond small A psychological endure bottom line, tear small A self-esteem after small A decided to stop the strategy, modify the parameters, can no longer wait to throw the new strategy into reality, the result of the market, the new strategy is not issued, looking back to find the old strategy is already full of warehouse and profitable, small A thought, grass, the original was full of old version is better than the new version;
3, After the close, Little A began to use Excel statistics for today's profit, loss, order, slippage, etc., and then to make the transaction record and net worth chart, surprised to find that after a consecutive week of retracement after last week's net innovation high, the withdrawal finally started to be slightly profitable, a little relaxed, and then sent to the client's transaction record. During the period, the largest Household customer B suddenly called and asked why the recent withdrawal was too large, did the model fail, did the stock need to be reduced.
1, various look at the K line, hoping his own fire gold eyes can catch some information from the chaotic movement, exhausted the brain after the sudden inspiration, so he wrote the code for 2 hours, after writing the little A's heart began to dream infinitely of the performance curve of the new bullish strategy, hated to immediately throw back into performance. The result was that the new strategy's profit factor averaged only 1.1, sharp 0.8, annualized profit risk of 1.2; small A's eyes, instantly caught up, began to suspect that the data is not correct, or the data cycle is too short, in his mind could not accept such a bullish new strategy could be so effective.
After eating lunch, Little A stretched out a waist, twisted his stiff neck, and again threw himself into the unfinished code journey of the morning. After four hours of painstaking thought, there was still no harvest. Little A, 20, expressed a pressure mountain, decided to breathe down and go for a walk, to relax his chaotic thoughts. In April, Shanghai, although a little bit of sunlight, but still warm and cold. After feeling a bit of coolness, Little A pulled on his yellow adidas jacket, and then pulled a link, and then walked aimlessly across a street, to an intersection.
The following is the story of Little A's reversal of growth, so please don't think that growth is necessarily a high probability event for the second generation or the second generation of wealth. In the field of quantitative investing, everyone can reverse as long as you can sit quietly for two to five years of research like a day. Your heart must be able to do it even if you can't be sold in a noisy market with a seven-inch tongue, even if you have to think of a new idea in front of the three people who have turned on the computer, and your nose is bloody and typing code.
You have to believe in 70 points of IQ + 100 points of effort + 70 points of background + 100 points of absolutely in-depth and focused detailed research can beat 100 points of IQ + 100 points of background + 80 points of effort + BS / GARCH / DL / SVM / HMM / machine learning (this will make people confused, not so good) as a skilled learner).
This sector, which individuals see as a hot topic in the future even more than internet finance, and most importantly, the industry, which has yet to have three giants.
If you're lucky enough to be in this field, congratulations, if you're hard enough, if you're diligent enough, you'll probably still be crushed to death by the wheels of history, but looking back, you can still tell your grandchildren that one or the other great or sad story and walk along the heart-shaped process that accompanied the growth of this industry. Believe me, the industry in China today is definitely a bunch of brilliant geeks seizing the heights of technology. Most of the practitioners will eventually become the dust of history, like a bunch of Internet entrepreneurs of that year.
If you are over 30 years old, have a mortgage and a car loan and are not in the industry, I would advise you not to try to switch easily, knowing that the risks and rewards are the same thing.
If you are a child of a mother who is only calm and obeys only her parents, please do not choose this profession. Know that if your character lacks blood, without the courage to defeat and defeat the battle, your chances of elimination will be 100%. This industry is not for the weak, does not believe in relationships, and even less does not believe in tears.
If you're a new enthusiast, have a little interest in this industry, and are willing to give your credit to a role, then please, please, please, please, please, please. If your background and experience are good, I say it's good, at least above the foreign major university undergraduate or above the top 10 undergraduate courses in the country, please choose a relatively high starting point, go to the currently somewhat famous shanty, move around, move around, play with your hands, be humble, be good at your studies, a willing teacher, and don't feel like you're being bullied.
The following answers come from: a hedge fund practitioner with over $3 billion under management (kuhasu)
In the morning before the opening, the computer system automatically starts up, then checks itself and enters the trading state, while Little A is browsing Weibo and WeChat.
2, After opening, the computer automatically trades. Little A is reading books, swimming, running, parks, squares, reading books is the state of the previous years, save for the state of the next years, Little A is bored when he goes to work, make a level market, so sometimes he is doing buy-and-hold negotiations. If there are extremely special situations, such as cable, cutting the power to the exchange, earthquake and volcano eruption, the first time A's mobile phone received the message to switch to manual operation, and later did not need to switch to manual operation at all, so Little A sometimes also fainted for himself.
3, after closing, the computer is automatically maintained, for computers that do not trade 24 hours a day, the computer itself is turned off, the 24-hour trading machine will check itself regularly according to the situation.
Since the launch of the event-driven system, news events, community moods, emergencies, etc. have been replaced by reptile and natural language analysis, with the ability to process big data even faster than the human brain. Small A was supposed to be able to rate the location of the five-horsepower long gun, ZF stabilization, Huawei pricing, Ukrainian unrest, but the end result is often quite low, even negligible, based on the computer-based reference weight.
It is important to believe that it does not matter where you come from in this field, schooling, academic performance, IQ, age, work experience, inherited wealth, etc.
This is an area that individuals see as having a hotter future than internet finance, and most importantly, this is an industry where the giants have absolutely no interest in coming up, because the giants don't need financing, and without financing, there is no need to advertise.
If you are lucky enough to be in this field, congratulations, if you are hard enough, if you are thorough enough, you will probably still be crushed by the wheels of history rolling over your body, but looking back, you can still tell your grandchildren that one or grand or tragic story and walk along with yourself in the process of growing this industry. Believe me, the current state of the industry in China is definitely a group of brilliant geeks who take over the heights of technology. Most of the practitioners will eventually become the dust of history, like a bunch of Internet entrepreneurs of that year.
If you're over 30, have a mortgage, a car loan, and you're not in the industry, congratulations, Simmons started the Grand Prize Fund when he was 40 and Soros started the Soros Fund when he was 43. The information from the outside is always wrong, even if you're in early contact, even if you're a securities fund practitioner, it's not necessarily the right way. And for those of you who have a stable financial cash flow, even if you don't quit your job, trading in your spare time can achieve financial freedom, and the conditions are ripe for you to quit and set up a fund on your own. This is the advantage of the secondary market as a fair market.
This industry is not for the weak, does not believe in relationships, and even less in tears. Some are just superior and inferior, the winner is the king. The current institutions in the country are basically seriously flawed, the risk of an outbreak is premature, and it will be more and more, this is related to previous experience, the management framework system, the electorate.
If you're a newbie and have a bit of interest in the industry, and you're willing to give your all for a role, then please go ahead, go ahead, go ahead. Even if your background and experience are good, even if you have at least a bachelor's degree from a major university abroad or a bachelor's degree from one of the top 10 universities in the country, even if you first try hard to learn programming, calculus and financial engineering, take the CFA equivalency exam (CFA is not required), even if....
The above answers are purely for fun, without any direction, such as a false pure coincidence, and Chemo is in the odd position.