How to be a profitable trader according to Ernest’s Chan Quantitative Trading (build an algo trading business)

(Last Updated On: May 10, 2010)

How to be a profitable trader according to Ernest’s Chan Quantitative Trading (build an algo trading business)

I finished this book by Ernest P Chan who wrote Quantitative Trading: How to Build Your Own Algorithmic Trading Business
This will hopefully be the last of the books I look at for a while. I have looked at so many books about .NET, C++, Java, etc I feel like I am becoming a library.
Anyhow, the author Ernest Chan is a local boy from Toronto who seems to make a name for himself in Quant scene. He also has a PHD from Cornell University. You cannot knock him on that but his view point’s seems to make it sound like a PHD won’t make you any better of an indie trader. I don’t think swing traders and day traders need to apply at this since quant trading is totally different from fundamentals. We are not talking about pushing buttons on red down and green up arrows.
Ernest has brought about some interesting topics I am a little unknown which of course. This includes the Sharpe Ratio, Kelly Formula, and others. He also focuses on Matlab quite a bit for developing backtests and models and strategies. He offers some in his book as examples
This is the closest book I have come across for launching an indie business for a trader who wants to focus on quant. The only dilemma I have with this book it is very high level and does not go into much detail in certain sections. Of course, you can always use Google to expand your research on the topic you need to know about. As said, his book is really good at describing how the real world works within Quant and how strategies and models are ever so important to build profitable trades and orders.

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About caustic

Hi i there My name is Bryan Downing. I am part of a company called QuantLabs.Net This is specifically a company with a high profile blog about technology, trading, financial, investment, quant, etc. It posts things on how to do job interviews with large companies like Morgan Stanley, Bloomberg, Citibank, and IBM. It also posts different unique tips and tricks on Java, C++, or C programming. It posts about different techniques in learning about Matlab and building models or strategies. There is a lot here if you are into venturing into the financial world like quant or technical analysis. It also discusses the future generation of trading and programming Specialties: C++, Java, C#, Matlab, quant, models, strategies, technical analysis, linux, windows P.S. I have been known to be the worst typist. Do not be offended by it as I like to bang stuff out and put priorty of what I do over typing. Maybe one day I can get a full time copy editor to help out. Do note I prefer videos as they are much easier to produce so check out my many video at youtube.com/quantlabs