Changing from a discretionary to a systematic strategy
Hi guys, hoping to get some collective wisdom. I’ve been trading a discretionary strategy at a hedge fund for 6-7 years. Although the strategy has had some ups and downs, it’s been somewhat successful overall. However, the strategy exacts a very large emotional toll. It requires me to be at work daily - even on vacation, I have to spend 4-6 hours managing it per day. It’s also not the kind of work I can delegate to a junior. The stress is also intense and the pressure from having to constantly monitor my portfolio dominates my after work life. As a result, I’m feeling very burnt out and I don’t think it’s something that is sustainable long-term.
I thought about this problem extensively and I think the easiest solution would be to run a systematic strategy- something where I can just monitor orders once or twice a day and otherwise focus on design. I could also hire a junior to help and that would allow me to get some vacation time in once in a while.
I have reasons to believe that I could be successful trading systematically. I work at a quant fund and understand many of the details, design philosophies. However, I’ve never traded systematically before.
To those who have managed to change from discretionary trading to systematic trading mid-career, how did you do it? How were you able to pitch yourself successfully as a systematic PM? What advice do you have for making the change?
Thank you very much for all the help!
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