Volatility Trading, + CD-ROM读书介绍
| 类别 | 页数 | 译者 | 网友评分 | 年代 | 出版社 |
|---|---|---|---|---|---|
| 书籍 | 224页 | 8.6 | 2020 | Wiley |
| 定价 | 出版日期 | 最近访问 | 访问指数 |
|---|---|---|---|
| USD 70.00 | 2020-02-20 … | 2020-03-15 … | 67 |
In Volatility Trading , Sinclair offers you a quantitative model for measuring volatility in order to gain an edge in your everyday option trading endeavors. With an accessible, straightforward approach. He guides traders through the basics of option pricing, volatility measurement, hedging, money management, and trade evaluation. In addition, Sinclair explains the often-overlooked psychological aspects of trading, revealing both how behavioral psychology can create market conditions traders can take advantage of-and how it can lead them astray. Psychological biases, he asserts, are probably the drivers behind most sources of edge available to a volatility trader.
Your goal, Sinclair explains, must be clearly defined and easily expressed-if you cannot explain it in one sentence, you probably aren't completely clear about what it is. The same applies to your statistical edge. If you do not know exactly what your edge is, you shouldn't trade. He shows how, in addition to the numerical evaluation of a potential trade, you should be able to identify and evaluate the reason why implied volatility is priced where it is, that is, why an edge exists. This means it is also necessary to be on top of recent news stories, sector trends, and behavioral psychology. Finally, Sinclair underscores why trades need to be sized correctly, which means that each trade is evaluated according to its projected return and risk in the overall context of your goals.
As the author concludes, while we also need to pay attention to seemingly mundane things like having good execution software, a comfortable office, and getting enough sleep, it is knowledge that is the ultimate source of edge. So, all else being equal, the trader with the greater knowledge will be the more successful. This book, and its companion CD-ROM, will provide that knowledge. The CD-ROM includes spreadsheets designed to help you forecast volatility and evaluate trades together with simulation engines.
作者简介尤安·辛克莱是一位有着十几年期权交易经验的职业期权交易员。他专门从事设计和执行数量化交易策略的工作。辛克莱目前是Bluefin交易公司的专职期权交易员，主要基于他自己设计出的数量化模型进行期权交易。他拥有布里斯托大学理论物理学的博士学位。
“本书的作者为一位有着数学学术背景的交易员，书中对如何进行波动率交易所给出的简明指南充满了有价值的见解——不仅针对波动率交易员，而且也针对量化交易员。从Zakamouline关于最优delta对冲的近似方法到Browne的最优交易规模策略，书中有很多技术上的资料提供了清晰理解实践中出现问题的框架，比如：我们何时应该对冲？我们应该加仓还是减仓？我们最初应该如何将资金在交易中进行分配？本书将对数量化交易的探讨提高到了一个新的高度，因此我强烈推荐这本书。”
——吉姆·盖思勒尔，The Volatility Surface...
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