Confessions from a Discretionary Trader

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Okay, I have a confession. I am spending more and more time each trading day learning more about quantitative trading. And by that I do not mean learning to code. What do I mean?

1) Learning to use data to improve my discretionary decision-making

2) Working with our quants to build and tweak filters for my favorite setups, which perpetually change

3) Testing auto trading strategies: back-testing and then forward-testing

4) Pounding the table for our traders to be more bionic (to have custom filters) and test automated strategies

5) Reviewing automated strategies for firm backing

6) Building an infrastructure that supports traders who need custom filtering, data to help improve their discretionary trading, and assisting discretionary traders build automated strategies.

You are sitting at your trading desk considering a position trade of Risk On. Why not quickly have data crunched testing your discretionary idea?

You have been a consistently profitable trader historically. Why not allocate time each day testing auto-strategies?

You know what you trade well. The modern pro trader has little excuse not to have custom filters built that identify every single one of your best setups so you never miss an opportunity. In this market, you cannot miss your favorite setups.

But all of this is a really question of whether you are willing to push yourself to become a better trader. That better trader is as a Bionic Discretionary Quant Trader. Are you?

Mike Bellafiore

Related blog posts:
Forex Trading: The Bionic Forex Trader
The Technology Edge of a Proprietary Trader

One Good Trade
The PlayBook

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