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The Greeks and Hedging Explained

A practical guide to basic and intermediate hedging techniques for traders, structurers, risk managers and quants.

The book was written to fill a gap between theory and practice. It provides a technical but not impenetrable guide to the hedging of options, and the 'Greeks' (Delta, Gamma, Theta, Vega, Rho and others) -parameters that represent the sensitivity of derivatives prices.

The reader will gain an intuitive understanding of option and hedging theory. Although the focus and examples will not move beyond the Black-Scholes-Merton model, the concepts are more widely applicable.

In case of interest, I regularly give workshops on this topic. Those are organised by London Financial Studies.

Crystalet Research Trading Journal

If traders want to become consistent and successful, they should develop a detailed trading plan as part of their overall business planning.

This journal helps them gather their thoughts, formulate a clear vision, identify their strengths and weaknesses, set targets and plan ahead.

It will provide a framework to structure the trader’s time and objectives.

The design is easy to follow and has built in very important revisions so the trader can learn, improve and build a successful business.

Crystalet Trading Playbook

This trading playbook is designed to keep track of trade ideas and detail trade setups. Well-documented trade setups are an integral part of any trading plan. Clear and detailed rules prevent that stress takes over the decisions during a hectic trading session.

The workbook provides a framework and templates for how to think about trade setups in terms of background, trigger conditions, confirmation, sizing, risk management and of course entry and exit mechanics.

Detailing a setup requires thought and discipline before executing trades, but it also allows regular and objective revisions. This will ultimately create great improvement in the trading journey.