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Systematic trading (also known as mechanical trading) is a way of defining trade goals, risk controls and rules that can execute trade orders in a methodical way.〔(Managed Futures Today, Systematic Trading, Systematic Risk Control ) 〕 Other authors characterizes Systematic Trading with the usage of computer models, mainly based on technical analysis of market data or fundamental economic data, to identify and make trades, with limited manager intervention〔(Definition of Systematic Trading )〕 Although it needn't include the use of computers, it is almost impossible to achieve trading goals without using a computer and a systematic trading system in which rules are programmed. The opposite is discretionary trading. Compared to systematic trading, due to the direct involvement of humans, discretionary trading may be influenced by emotions, with no easy possibilities of backtesting and a limited risk control.〔(Systematic trading, benefits and risks )〕 Similar ideas are algorithmic trading and quantitative trading. But Algorithmic trading is more related to how to trade an order or a set of orders, using a set of well-known algorithms. Quantitative trading includes all those kinds of trading (systematic, discretionary, algorithmic, HFT...) which uses quantitative techniques to decide trading options and executions. == Example == Suppose we need to replicate an index with futures and stocks from other markets with higher liquidity level. An example of systematic approach would be: # Identify, using Fundamental analysis, which stocks and futures should be used for replication. # Analyze correlations between targeted index and selected stocks and futures, looking for the strategy which provides a better approximation to index. # Define a coherent strategy to combine dynamically stocks and futures according to market data. # Simulate the strategy including transaction costs, rollovers, stop-loss orders and all other wanted risk controls. # Apply the strategy in the real world using algorithmic trading for signal generation and trying to optimize the P&L, controlling continuously the risks. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Systematic trading」の詳細全文を読む スポンサード リンク
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