The Laws of Trading: A Trader's Guide to Better Decision-Making for Everyone

ISBN-13: 9781119574217 / Angielski / Twarda / 2019 / 304 str.

Agustin Lebron

Spis treści

Acknowledgments viiForeword ixAaron BrownIntroduction xiiiChapter 1 Motivation 1Know why you are doing a trade before you trade 1Chapter 2 Adverse Selection 21You're never happy with the amount you traded 22Chapter 3 Risk 41Take only the risks you're being paid to take Hedge the others 41Chapter 4 Liquidity 71Put on a risk using the most liquid instrument for that risk 72Chapter 5 Edge 93If you can't explain your edge in five minutes, you don't have a very good one 95Chapter 6 Models 115The model expresses the edge 115Chapter 7 Costs and Capacity 141If you think your costs are negligible relative to your edge, you're wrong about at least one of them 142Chapter 8 Possibility 167Just because something has never happened doesn't mean it can't 171Chapter 9 Alignment 197Working to align everyone's interests is time well spent 198Chapter 10 Technology 217If you don't master technology and data, you're losing to someone who does 220Chapter 11 Adaptation 239If you're not getting better, you're getting worse 240Notes 261Index 271

O autorze

AGUSTIN LEBRON began his career as a trader and researcher at Jane Street Capital, one of the largest market-making firms in the world. Over the years he traded many kinds of securities: equities, futures, commodities, options, and an assortment of other derivatives, and has created, developed and implemented several successful trading strategies. He currently runs the consulting firm Essilen Research, where he is dedicated to helping clients integrate modern decision-making approaches in their business.