Wang

交易策略有哪些分类?

Trading Strategy


弱弱问一下, 交易策略一般分哪几类? 
 
Bee Bee
大體分為三大派別:

1. 技術分析 (Technical Analysis)
2. 基本面分析 (Fundamental Analysis)
3. 定量分析法 (Quantitative Analysis)
 
Jeremy
Here are some popular trading strategies used by investment banks/ hedge funds. 

  1. Arbitrage
  2. Market Neutral
  3. Relative Value
  4. Event Driven
  5. Macro Economy
  6. Long/Short Bias
  7. Hedging
  8. Market Making
  9. Execution Algo

 
Jeremy
Original Posted by - b'Jeremy':
Here are some popular trading strategies used by investment banks/ hedge funds. 

  1. Arbitrage
  2. Market Neutral
  3. Relative Value
  4. Event Driven
  5. Macro Economy
  6. Long/Short Bias
  7. Hedging
  8. Market Making
  9. Execution Algo

You can create a trading strategy using infinitely different way. 
There is, in fact, no single way or complete list of classification. 
This list just comes from my experience. 
 
Wang
Original Posted by - b'Jeremy':
Here are some popular trading strategies used by investment banks/ hedge funds. 

  1. Arbitrage
  2. Market Neutral
  3. Relative Value
  4. Event Driven
  5. Macro Economy
  6. Long/Short Bias
  7. Hedging
  8. Market Making
  9. Execution Algo

可以举一些具体的例子吗?
 
Jeremy
Original Posted by - b'Wang': 可以举一些具体的例子吗?
Here are some examples for (1) Arbitrage, Arbitrage is basically due to mis-pricing of the same item. 

Cross Broker Arbitrage
Suppose you have 2 trading accounts from different brokers, say Broker A and Broker B. Due to data latency, it is possible that sometimes for the same financial instrument you could get different price quotes. Suppose at a particular time of a trading day, you observe the following quotes of a stock:
Broker Bid Ask
A 100 102
B 103 104
Then, we can open a buy order at $102 from broker A, and simultaneously open another sell order at $103 from broker B. Here we get the arbitrage profit $1 


Big Mac Arbitrage:
Many Economic class should mention about this example. McDonald is a global fast food restaurant. Suppose its Big Mac are identical all over the world. Let's say you observe the following:
  • Big Mac in Hong Kong is selling at HKD 30
  • Big Mac in China is selling at RMB 25
  • The exchange rate for 1 HKD is 0.8 RMB  
Then, we can buy 1 Big Mac at HKD 30 in Hong Kong, sell it at RMB 25, and convert RMB back to HKD. Thus, we get (25/0.8 - 30) = HKD 1.25 arbitrage profit! 

 
Zhang Jun
Original Posted by - b'Jeremy': Here are some examples for (1) Arbitrage, Arbitrage is basically due to mis-pricing of the same item. 

Cross Broker Arbitrage
Suppose you have 2 trading accounts from different brokers, say Broker A and Broker B. Due to data latency, it is possible that sometimes for the same financial instrument you could get different price quotes. Suppose at a particular time of a trading day, you observe the following quotes of a stock:
Broker Bid Ask
A 100 102
B 103 104
Then, we can open a buy order at $102 from broker A, and simultaneously open another sell order at $103 from broker B. Here we get the arbitrage profit $1 


Big Mac Arbitrage:
Many Economic class should mention about this example. McDonald is a global fast food restaurant. Suppose its Big Mac are identical all over the world. Let's say you observe the following:
  • Big Mac in Hong Kong is selling at HKD 30
  • Big Mac in China is selling at RMB 25
  • The exchange rate for 1 HKD is 0.8 RMB  
Then, we can buy 1 Big Mac at HKD 30 in Hong Kong, sell it at RMB 25, and convert RMB back to HKD. Thus, we get (25/0.8 - 30) = HKD 1.25 arbitrage profit! 

学习了, 谢谢!