Advanced Topics

Specialized disciplines that combine ideas from earlier sections.

Difficulty expert

Reading order

1. Regime Detection — identifying the market state you're in
2. Volatility Trading — vol-as-an-asset strategies
3. Event-Driven Strategies — merger arb, distressed, special situations
4. Fixed-Income Arbitrage — curve, basis, swap-spread trades
5. Credit Trading — IG, HY, CDS, capital structure
6. Cross-Asset Strategies — combining equities, bonds, FX, commodities
7. Emerging Markets — EM equities, debt, FX
8. ESG Investing — integration vs. exclusion vs. impact

What you should walk away with

• An understanding of where institutional capital actually deploys.
• The ability to combine sections of this guide into novel multi-asset strategies.
• A sense of which advanced disciplines are within reach of an individual operator.

You've reached the end of the guide

Loop back to Trading Systems for the infrastructure side, or Risk Management to harden anything you build from here.