1. alpha strategy
Alpha policies include different categories:
According to the research content, it can be divided into fundamental Alpha (or financial Alpha) and quantity and price Alpha. The industry generally does not completely isolate these two Alpha. However, different teams will have deviations according to their own abilities, good directions, beliefs and doing factors. Some teams like to use data mining to make quantitative and price factors, while others like to carefully screen financial factors from the perspective of fundamental financial logic.
According to whether hedging can be divided into two categories. All hedging strategies are called alpha strategies, and non-hedging strategies are usually called exponential enhancement strategies in the market. These two models are the same, but the latter lacks futures hedging. Lack of hedging has both advantages and disadvantages. The disadvantage is that the yield curve of this strategy will be greatly retraced. But from the perspective of income, this strategy will perform particularly well in the year of skyrocketing; In the long run, the company can get beta dividend income and attract customers who are optimistic about the index. In contrast, hedging alpha strategy will generally underperform the index in the big bull market; In addition, the advantage of not hedging is to save money, and the Alpha strategy of hedging should put at least 20~30% of the funds on the futures side for margin.
2.CTA strategy
Regarding CTA strategy, CTA strategy was started on 20 10. CTA's quantitative improvement of Tian Zi I was my turning point. Multi-variety combination, single purchase control low risk, 1%~3% risk, and I know how to improve the profit-loss ratio in practice. Now I have a firm account with a profit of 5.68 times in 7 years. Suitable for multiple varieties and risks, and daily line, hourly line and 15 minute line can all be supported.
3. High frequency trading strategy
The third strategy is the high-frequency trading strategy. The main applications of high-frequency trading in China are as follows. High-frequency transactions such as futures trend, futures arbitrage and options are basically private placements, but the products of high-frequency transactions are basically not raised or rarely raised. High-frequency trading has the advantages of high income and small cash withdrawal, but the hardware and software investment of high-frequency trading is also very expensive (for example, the cost of a server is about 80-65438+10,000). The higher frequency is more than one thousandth of a second, and a set of machines costs several million yuan. This kind of profit is small at a time, and it is collected as soon as it is seen, and it also has good returns when accumulated. This is suitable for teams with large funds, high academic qualifications and high investment.