贸易is one of the key features of the global financial economy. It creates liquidity across the financial markets, is one of the main sources of profit for投资银行and is done by many institutions (投资银行, hedge funds, commodity companies etc.). Traders tend to use technical and fundamental analysis to price assets and to attempt to predict the future movements. If a trader istrading大量数量，他们的交易实际上可以转移市场，从而使他们比较小的交易者具有比较优势。
As opposed to investment banking,trading倾向于表现出色，如果您的表现良好，您将很快晋升，而如果您始终亏损或冒险，您将不会持续很长时间。闯入的最常见方法trading晒黑investment bankis out of undergraduate study with a quantative degree and having completed atradinginternship.
交易类型
交易可以以三种主要形式进行：
- 市场制造
- 机构贸易
- 专有交易
Below is a brief description of each kind oftrading。
市场制造
市场制造是交易者找到买家和资产的卖方的地方，并代表每个资产进行交易。交易者将从一个人那里购买资产，然后以更高的价格将其出售给另一个人，从而成为市场。与此相关的风险，即，在交易者达成两方之前，资产的价值会改变。为了弥补这一风险并赚取一些利润，交易者将提供价差（低于要约价格的出价价格）。要成为一名做市商，即使不是一份您了解的客户列表，并且可以从（到）购买（出售）资产以执行快速交易，而不必花很长时间搜索投资者，这是非常有利的，即使不是必不可少的。
机构贸易
机构trading是最有限的形式trading。It is literally executing the orders of clients. An agency trader will have a portfolio of clients, and if one of them calls the trader and says he wants to buy x amount of asset y at price z, the trader will execute that order for him on his behalf. There is almost no risk associated with it, but almost no profit. The profit comes from a small commission the investor pays the trader on a per-trade basis.
专有交易
Proprietarytradingis one of the most risky but also most profitable forms oftrading。Essentially it is informed (sometimes uninformed) speculation about the movement of asset prices. Prop traders will open a position based on how they think the markets are going to move. If they are correct, they make a lot of money, if they are wrong they lose money. In order to attempt to reduce risk, prop traders tend to hedge their positions either using derivatives or inversely correlated assets. Many firms are dedicated purely to proptrading，最多投资银行对冲基金有道具trading桌子。
交易领域
晒黑investment bank, traders usually work on their owntrading地板，与其他部门的互动不多。不同的部门trading称为“桌子”，它们涵盖不同的产品或区域。交易者所谈论的不同事物的一些例子是：
- 股票- stocks and shares of publicly traded companies
- Fixed Income- bonds, securities and any other fixed income asset
- Forex- currency pairs
- 商品- oil, metals, food etc.
- 衍生物- options, futures, ETFs, and more
在所有这些领域中，股票往往是最小的风险和最小挥发性的，衍生品是最“危险”的。每个部门的简短破产trading跟随。
股票
这是公众最常提到的“trading'，但这也是金融机构至少完成的。它失去其知名度的原因是缺乏波动性和股票和股票的普遍缺乏利润潜力。任何公平每天都有超过10％的股权，而且很少有tradingis a very short-term game. Peopletrading股票受到内部人士的高度约束tradingSEC和其他财务监管机构施加的法律以及其他法规。股票tradingdesks are split into sector (technology, pharmaceutical etc.) and location (European, Asian, US).
Fixed Income
Traditionally, fixed income meant bonds and bonds only. Nowadays it can refer to literally any asset where the holder receives a fixed amount over a period of time for lending money to someone in some form. One of the most notorious forms of fixed incometradingin recent times is CDOs (collateralized debt obligations) which was one of the main causes of the 2008 financial crisis. The prices of fixed income assets are affected by interest rates and the stability of the borrower. Fixed Income desks are further divided up into government, corporate, municipal, mortgage and more.
Forex
外汇是外汇的缩写，因此外汇交易者花费时间tradingcurrency pairs. Currencies are always traded against another currency in pairs (i.e. EUR/USD or GBP/USD). The way in which currencies move is simply dependent on the strength of the economy which uses that currency, i.e. if the US announces extremely poor GDP growth, it is likely that USD will depreciate against other currencies. The key concept for forextrading升值和贬值,someti吗mes seem counter-intuitive at first. If the Dollar depreciates against the Euro, then EUR/USD will go UP as 1 Euro buys more Dollars than it did before.
商品
商品涵盖了大量的资产,which are tangible. The most popular one is oil, but there is also copper, iron, wheat, and almost any other product which is homogenous across the world, used for production purposes and produced en masse. Commodity traders have been blamed for the rise in global food prices, as speculation tends to push up prices of assets. Commodities are usually traded as futures, and the futures are not held to maturity, as no trader wants to have 10,000 barrels of oil turn up at their desk when the future expires,
衍生物
衍生物are one of the most popular instruments to be traded, due to their highly leveraged nature and small capital requirements. The most common forms of derivatives are options and futures, although there are many many more. As of 2008 it is estimated that there is around $600 trillion worth of derivatives being held and traded around the world, roughly 10x that of global GDP. You can read more about the different types of derivatives by following the links at the bottom of the page.
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