This is great, but remember that if you're interested in investing, and not the markets themselves and trading, then this whole landscape is already so over-optimized to the point of being irrelevant. You could've achieved everything you wanted in investing even in the pre-computer era, like for example Buffett did. In fact you could've done everything you wanted already in the 1600s Amsterdam - see the book "Confusion of Confusions", a pretty great read.<p>Read the 10-Ks, think about what people (will) need, what kind of margin pressures and competition dynamics will play out across the economy, read finance history books, play with pricing models. Focusing on market structure is kind of like focusing on network adapters and packet switching details, focusing on valuations/pricing/finance is like building deep ML models. Of course you need the damn networks to work, but guess what - some pretty clever people have already solved that for you.
Does anyone remember starfighter.io/stockfighter.io that Kalzumeus put up years ago? It was based around coding market making strategies based on the structures presented in this article.<p>I still kick myself for not completing that when it was up. I'm always hoping that that will make it's way back up one day
This looks really interesting! I am relatively new to a tech role in finance and am still learning all the terminology. Does anyone know of a book that teaches markets from a historical, narrative perspective? I have found textbooks explaining the main asset classes and so on, but I think it would be really interesting to see an explanation of eg the repo market, invoice swaps etc as the evolution of solutions to problems.
Not sure if this will help you but…<p><a href="https://web.archive.org/web/20210301042419/http://www.stockfighter.io/" rel="nofollow">https://web.archive.org/web/20210301042419/http://www.stockf...</a>
This is nice but trading crypto is the only way I’d ever been able to retain any of this stuff. You sit on an exchange without need for a broker and see your order go on the books or if its a market order how much liquidity it absorbs and how much price moves… its a 100x learning. I used to read books about market structure but all this stuff only helps after doing it.
>Access Denied<p>>You don't have permission to access "<a href="http://www.nasdaq.com/articles/an-interns-guide-to-trading-2021-07-01" rel="nofollow">http://www.nasdaq.com/articles/an-interns-guide-to-trading-2...</a>" on this server.<p>>Reference #18.e0745968.1625685764.2ef97a3a<p>Why do sites do this? Yes, I'm using Tor Browser to protect my privacy and stop big companies from tracking me. But I can just plug the URL into an archive service and read it from there.