A couple years ago I can across this website and was completely lost. But now I'm 17 and want to my summer making the most of this website. So what tips and advice would you guys have for someone that's new and has very limited knowledge of the world of algorithms? What things should I learn to be successful or at least get foundational knowledge? Are there any resources out there that you would recommend? Finally, how long was it before you made a successful algorithm? I understand this isn't something I can pick up overnight(or ever over the summer), but I would still like to start learning.
I've been here since Jan 2014 and have one algorithm doing well (started late last year). If I were to advise myself for a running start at the beginning, I would say ...
- For looking up info, use searches that specify quantopian.com like
https://www.google.com/search?q=advice+site%3Aquantopian.com - Greatest thing for answers to code questions: stackoverflow.com
- An external editor is more efficient once you're accustomed to it. I use Notepad++
- CompareIt or other diff tool is a life-saver.
- A local search tool is essential for looking things up in saved code.
- Click a line number in the backtester and run, then type variables etc at the console prompt to examine what's happening, you can even run your own functions from it with different inputs and lots more, very educational. That's how I learned the ins and outs of pandas.
- When you find something intimidating, don't worry, you'll get it.
- By far the most important thing of all to understand is something that took me a year to realize: The returns curve is what returns would be only if you utilize exactly 100% of the initial capital, or to the degree that you do. Read about that. If you don't realize this, it can really throw you off, as margin is invisible by default and small changes can result in big differences in margin (often from partial fills, also flying under radar) so a change that seems terrible might actually be great and visa-versa. I use the % / day number from that tool as the first thing in file names to save good looking algos locally for sorting, it neutralizes both risk and length of various algorithms to the best degree we are able, currently, for comparison. Here's a backtest to illustrate the point, 20% profit in as many days. Or is it? Take a look at the Source Code tab. It is mostly margin, appearing to be profit. On the other hand, once you have margin under management, then you're good to go for making changes and knowing what works and what doesn't for real with certainty. That will give you an advantage over those who brush this aside.
There are a few. Good luck.
I'll just point to our educational resources. We put a lot of time into them and hope you like them.
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My advise would be a very simple one: do it. Setup a schedule, go little by little, and you'll be amazed by what you can accomplish in a summer. But do it ;)
In general maths, coding and computers are the way to go. In so many fields.
But you need to step right back and consider finance and investment in general and not get too swept along with the current vogue for AI, ML, algos at the expense of seeing the bigger picture.
Ask yourself a few more big picture questions first about where best to apply maths and coding skills. It may not, after all be the financial markets. If it is to be the financial markets then learn about markets and investments and much as maths and coding. What is it all about? What is the histiry? Where is it going. Broaden your vision. Don't get stuck thinking back testing is all there is to commercial investment and trading success.
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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by Quantopian.
In addition, the material offers no opinion with respect to the suitability of any security or specific investment. No information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action as none of Quantopian nor any of its affiliates is undertaking to provide investment advice, act as an adviser to any plan or entity subject to the Employee Retirement Income Security Act of 1974, as amended, individual retirement account or individual retirement annuity, or give advice in a fiduciary capacity with respect to the materials presented herein. If you are an individual retirement or other investor, contact your financial advisor or other fiduciary unrelated to Quantopian about whether any given investment idea, strategy, product or service described herein may be appropriate for your circumstances. All investments involve risk, including loss of principal. Quantopian makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances.