Inside the black box

What Hacker News says

1. lopatinDec 2025
   1. Inside the Black Box

   Introduction to quantitative finance and to learn what strategies are used by firms who are supposed to beat the market.

   2. Advances in Financial Machine Learning

   Deep dive into ML techniques if you want to start making money from data and math.

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2. tiffaniNov 2010
   Hadn't started implementing any systems yet, but earlier this year I ordered these and they've been ultra-educational at least for figuring out how to get started, vocabulary, etc.:

   High-Frequency Trading: A Practical Guide to Algorithmic Strategies and Trading Systems http://www.amazon.com/gp/product/0470563761

   Inside the Black Box: The Simple Truth About Quantitative Trading http://www.amazon.com/gp/product/0470432063

   Quantitative Trading: How to Build Your Own Algorithmic Trading Business http://www.amazon.com/gp/product/0470284889

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3. elecenginJun 2010
   Since "Finance/Trading/Stock Market" is a bit of a wide net to cast, I will offer my opinion on a small chunk. To understanding modern automated US equity trading, it pays off to understand the basic mechanics underpinning the market, and get a feel for the opportunities this structure presents.

   I would suggest reading up on the national market structure, and reading "Inside the Black Box" by Narang for a good overview of how automated trading is structured.

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4. jackbrianMar 2017
   As a CS student, I'd really make sure your stats knowledge is solid. Perhaps take a class that covers stochastic finance (Black-Scholes, etc.) if available.

   I learned the hard way that it is quite difficult to break into finance as a non-student, so do everything you can now to land that first gig. Good luck!

   Some starting resources:

   -Ernie Chan's books and blog (https://epchan.blogspot.com/)

   -QuantStart has great starter material and a new book, although I haven't read it (https://www.quantstart.com/)

   -"Inside the Black Box" (Narang) I've seen referenced a good bit but felt as though it leaned toward order execution and rather boring

   -"Dark Pools" (Scott Patterson) a great story about the rise of algorithmic trading

   -"Flash Boys' (Michael Lewis) offers a nice follow up (HFT), but considered a bit sensationalist

   EDIT: If you're planning on using Python (a solid bet)...

   -Python for Data Analysis (Wes McKinney) - Great, quick book for Pandas by former AQR (and now Two Sigma?) guy.

   -Yves Hilpisch books: "Python for Finance" is introductory while "Derivative Analytics in Python" is quite math heavy.

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5. mikecshAug 2011
   Inside the Black Box:

   http://www.amazon.com/Inside-Black-Box-Quantitative-Trading/...

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