{"id":1576,"date":"2018-03-13T19:47:36","date_gmt":"2018-03-13T17:47:36","guid":{"rendered":"http:\/\/dobretrejdy.com\/?page_id=1576"},"modified":"2025-02-02T12:45:18","modified_gmt":"2025-02-02T10:45:18","slug":"uvod","status":"publish","type":"page","link":"https:\/\/dobretrejdy.com\/?page_id=1576","title":{"rendered":"Za\u010d\u00edn\u00e1m"},"content":{"rendered":"

Za\u010d\u00edn\u00e1m<\/strong><\/span><\/h1>\n

\u00a0 \u00a0K obchodov\u00e1n\u00ed jsou zapot\u0159eb\u00ed \u010dty\u0159i v\u011bci – Nastaven\u00ed mysli<\/strong>, Obchodn\u00ed dovednosti<\/strong>, Technologie<\/strong> a Pen\u00edze<\/strong>. Prvn\u00ed \u010dl\u00e1nek Cesta do hlubin traderovy du\u0161e<\/a>\u00a0<\/strong><\/span>obsahuje m\u016fj vlastn\u00ed pohled na Nastaven\u00ed mysli a popis osobnostn\u00edch vlastnost\u00ed obchodn\u00edka tak, jak jsem tyto vlastnosti vypozoroval v praktick\u00e9m \u017eivot\u011b obchodn\u00edka pozorov\u00e1n\u00edm sebe sama nebo m\u00fdch \u00fasp\u011b\u0161n\u00fdch ale tak\u00e9 ne\u00fasp\u011b\u0161n\u00fdch koleg\u016f. P\u0159esto\u017ee je psychick\u00e9 rozpolo\u017een\u00ed velmi podstatnou \u010d\u00e1st\u00ed obchodn\u00edch \u00fasp\u011bch\u016f, nebudu se krom\u011b tohoto \u010dl\u00e1nku ji\u017e k tomuto t\u00e9matu tak epicky vracet, proto\u017ee tu spr\u00e1vnou polohu si nakonec najde ka\u017ed\u00fd s\u00e1m. <\/span><\/p>\n

\u00a0 \u00a0P\u0159\u00edprava nezbytn\u00e9ho materi\u00e1lu a programov\u00e9ho vybaven\u00ed pro pochopen\u00ed z\u00e1klad\u016f op\u010dn\u00edho obchodov\u00e1n\u00ed je pops\u00e1na v \u010dl\u00e1nku Technologie<\/a>.\u00a0<\/span><\/strong>Orientaci v z\u00e1kladn\u00edch pojmech je mo\u017en\u00e9 si ud\u011blat p\u0159e\u010dten\u00edm \u010dl\u00e1nku Z\u00e1kladn\u00ed op\u010dn\u00ed pojmy<\/a><\/span><\/strong>. Objasn\u011bn\u00ed podstaty z\u00e1klad\u016f op\u010dn\u00edch kontrakt\u016f a zji\u0161t\u011bn\u00ed, co mi vyjad\u0159uje zobrazovan\u00e1 cena opce je mo\u017en\u011b zjistit v \u010dl\u00e1nku Vnit\u0159n\u00ed Hodnota a Pr\u00e9mium<\/a><\/span><\/strong>. Nejjednodu\u0161\u0161\u00ed mo\u017enosti obchodov\u00e1n\u00ed op\u010dn\u00edch kontrakt\u016f a „jak to vlastn\u011b funguje“ je p\u0159edm\u011btem \u010dl\u00e1nku Z\u00e1kladn\u00ed mechanika op\u010dn\u00edch obchod\u016f<\/strong><\/span><\/a>. Nejjednodu\u0161\u0161\u00edmi op\u010dn\u00ed obchody je jednoduch\u00e9 po\u0159\u00edzen\u00ed Long Call\u00a0<\/a><\/span><\/strong>op\u010dn\u00edho kontraktu<\/span><\/span>.\u00a0<\/span><\/span>Obdobn\u011b lze za nejjednodu\u0161\u0161\u00ed op\u010dn\u00ed obchod pova\u017eovat s\u00e1zku na pokles podkladu a nakoupen\u00ed op\u010dn\u00edho kontraktu Long Put,<\/span><\/strong><\/a>\u00a0v obou p\u0159\u00edpadech je pak vhodn\u00e9 se zamyslet nad mo\u017enostmi, kter\u00e9 n\u00e1m dr\u017een\u00ed t\u011bchto pozic p\u0159inese a jak s takov\u00fdmi jednoduch\u00fdmi pozicemi nalo\u017eit. K n\u00e1kupu op\u010dn\u00edch kontrakt\u016f pot\u0159ebuji protistranu – prodejce op\u010dn\u00edho kontraktu. Prodej opc\u00ed Call je regul\u00e9rn\u00ed obchodn\u00ed discipl\u00edna a mo\u017en\u00e9 nuance zach\u00e1zen\u00ed s prodanou Call opc\u00ed je mo\u017en\u00e9 nal\u00e9zt v \u010dl\u00e1nku Short Call<\/a><\/strong><\/span>. V obdobn\u00e9m smyslu pak mohu uva\u017eovat o prod\u00e1v\u00e1n\u00ed Put op\u010dn\u00edch kontrakt\u016f, a proto\u017ee se t\u00e9m\u011b\u0159 spol\u00e9h\u00e1me na opa\u010dn\u00e9 tr\u017en\u00ed podm\u00ednky ne\u017e u prodeje Short Call opc\u00ed, nebude \u010dl\u00e1nek Short Put<\/a><\/span><\/strong> patrn\u011b nic p\u0159evratn\u00e9ho. Popis z\u00e1kladn\u00edch princip\u016f spojen\u00fdch s p\u0159i\u0159azen\u00edm Short op\u010dn\u00edch kontrakt\u016f je pops\u00e1n v \u010dl\u00e1nku Assignment (p\u0159i\u0159azen\u00ed) opc\u00ed.<\/span><\/strong><\/a> P\u0159i\u0159azen\u00ed je v\u00fdsledkem Exercise dr\u017eitele Long op\u010dn\u00edho kontraktu, jak funguje tato procedura je pops\u00e1no v \u010dl\u00e1nku Exercise (uplatn\u011bn\u00ed opc\u00ed)<\/span><\/strong><\/a>. Exercise mohu (u opc\u00ed americk\u00e9ho typu) kdykoliv iniciovat z m\u00e9 op\u010dn\u00ed platformy, jak je takov\u00e9 „spou\u0161t\u011bn\u00ed Exercise“ za\u0159\u00edzeno u m\u00e9ho brokera je pops\u00e1no v \u010dl\u00e1nku Exercise (prakticky u IB)<\/span><\/strong><\/a>. Z dosavadn\u00edho \u010dten\u00ed by pak bylo mo\u017en\u00e9 usoudit, \u017ee nakupov\u00e1n\u00ed opc\u00ed je jen o placen\u00ed Pr\u00e9mi\u00ed a prod\u00e1v\u00e1n\u00ed opc\u00ed o p\u0159\u00edj\u00edm\u00e1n\u00ed Pr\u00e9mi\u00ed a vznik\u00e1 tak z\u00e1kladn\u00ed dilema, co je vlastn\u011b lep\u0161\u00ed. O tom, \u017ee vypisov\u00e1n\u00ed opc\u00ed m\u00e1 protistranu, kter\u00e9 se um\u00ed v obchodu zajistit a b\u00fdt, na rozd\u00edl od vypisovatele, jist\u00fdm v\u00edt\u011bzem, je \u010dl\u00e1nek Vypisov\u00e1n\u00ed opc\u00ed – kdo je kr\u00e1l?<\/span><\/strong><\/a>\u00a0Z\u00e1kladn\u00ed pozorovatelnou vlastnost\u00ed op\u010dn\u00edho kontraktu je jeho cena, jak\u00e1 je logika konstrukce ceny a jak je tato cena vypo\u010dtena je mo\u017en\u00e9 nal\u00e9zt v \u010dl\u00e1nku Cena opce<\/a><\/span><\/strong>. Z\u00e1kladn\u00ed \u00favahou ka\u017ed\u00e9ho obchodn\u00edka by m\u011blo b\u00fdt zamy\u0161len\u00ed, jestli to, co obchoduji, je v danou chv\u00edli levn\u00e9 nebo drah\u00e9. Jak\u00fdm sm\u011brem se pak m\u016f\u017ee ub\u00edrat toto cenov\u00e9 vyhodnocen\u00ed v souvislosti s pozorovatelnou cenou op\u010dn\u00edho kontraktu je pops\u00e1no v \u010dl\u00e1nku Je opce levn\u00e1 nebo drah\u00e1?<\/span><\/strong><\/a>\u00a0Navazuj\u00edc\u00edm t\u00e9matem by m\u011blo b\u00fdt zamy\u0161len\u00ed, jak\u00fdm zp\u016fsobem lze nahl\u00ed\u017eet na Implied Volatilitu a jak ji d\u00e1t do souvislosti s o\u010dek\u00e1van\u00fdm pohybem na podkladov\u00e9 aktivu, n\u011bkter\u00e9 z interpretac\u00ed lze nal\u00e9zt v \u010dl\u00e1nku Volatilita a Cenov\u00fd pohyb – I<\/a><\/strong><\/span>. Rozveden\u00ed poznatk\u016f o Implied Volatilit\u011b se zapojen\u00edm statistick\u00fdch n\u00e1stroj\u016f je pops\u00e1no v \u010dl\u00e1nku Volatilita a Cenov\u00fd pohyb II<\/span><\/strong><\/a>. Sd\u011blen\u00edm „…\u010d\u00edm je vy\u0161\u0161\u00ed Implied Volatilita, t\u00edm je vy\u0161\u0161\u00ed cena op\u010dn\u00edho kontraktu…<\/em>“ jsem se zab\u00fdval v \u010dl\u00e1nku Volatilita Cenov\u00fd pohyb – III<\/strong><\/span><\/a>. Vytv\u00e1\u0159et anal\u00fdzu op\u010dn\u00edch cen pomoc\u00ed jednoduch\u00fdch analytick\u00fdch n\u00e1stroj\u016f s vyu\u017eit\u00edm znalosti o stanoven\u00ed Teoretick\u00e9 ceny op\u010dn\u00edho kontraktu je pops\u00e1no v \u010dl\u00e1nku Volatilita a cenov\u00fd pohyb – IV<\/a><\/strong><\/span>. V n\u00e1vaznosti na \u010dl\u00e1nek o cen\u011b opc\u00ed a zp\u016fsobu jej\u00edho v\u00fdpo\u010dtu pomoc\u00ed Black-Scholesova modelu bych mohl voln\u011b pokra\u010dovat v popisu z\u00e1kladn\u00edch odvozenin od tohoto cenov\u00e9ho modelu, kter\u00e9 jsou schopny zachytit a kvantifikovat vlivy, kter\u00e9 na cenu p\u016fsob\u00ed. Vliv pohybu ceny podkladu popisuje op\u010dn\u00ed Delta<\/strong><\/span><\/a>, vliv rychlosti zm\u011bny Delta na cenu opc\u00ed je mo\u017en\u00e9 vy\u010d\u00edst z Gamma<\/a><\/span><\/strong>. Zm\u011bna ceny op\u010dn\u00edho kontraktu p\u016fsoben\u00edm b\u011bhu \u010dasu vysv\u011btluje Th\u00e9ta<\/span><\/strong><\/a> a zm\u011bnu Implied Volatility na tuto cenu popisuje op\u010dn\u00ed Vega<\/span><\/strong><\/a>. Pro prostudov\u00e1n\u00ed chov\u00e1n\u00ed podkladov\u00fdch aktiv v historii je zapot\u0159eb\u00ed pracovat s historick\u00fdmi daty z\u00edskan\u00fdmi nap\u0159\u00edklad pro anal\u00fdzu prov\u00e1d\u011bnou v Excelu, jedn\u00edm z tip\u016f, jak tyto dat z\u00edskat je pops\u00e1n v \u010dl\u00e1nku Historick\u00e1 data z IB do Excelu<\/a><\/strong><\/span>. Mo\u017enost z\u00edsk\u00e1vat \u017eiv\u00e1 aktu\u00e1ln\u00ed data nejr\u016fzn\u011bj\u0161\u00edch investi\u010dn\u00edch n\u00e1stroj\u016f – akci\u00ed, futures, opc\u00ed apod. do sv\u00e9ho excelovsk\u00e9ho se\u0161itu od m\u00e9ho brokera Interactive Brokers by nemuselo b\u00fdt \u0161patnou praktickou pom\u016fckou pro r\u016fzn\u00e9 analytick\u00e9 experimenty, jak si takovou „v\u011bc za\u0159\u00eddit“ je pops\u00e1no v \u010dl\u00e1nku \u017div\u00e1 data z IB do Excelu<\/a><\/span><\/strong>. M\u011bl bych si v\u00e9st obchodn\u00ed den\u00edk? M\u011bl bych sledovat sv\u016fj obchodn\u00ed v\u00fdkon? Na tyto ot\u00e1zky se pokou\u0161\u00edm odpov\u011bd\u011bt v \u010dl\u00e1nku Obchodn\u00ed den\u00edk a Tradingov\u00fd v\u00fdkon<\/strong><\/a><\/span>. Pokud obchoduji, mus\u00edm si uv\u011bdomit, \u017ee tak\u00e9 obchodov\u00e1n\u00ed p\u0159in\u00e1\u0161\u00ed da\u0148ov\u00e9 povinnosti, jak se jich zhostit jsem se pokusil popsat v \u010dl\u00e1nku Dan\u011b a smrt – z\u00e1kladn\u00ed \u017eivotn\u00ed jistoty<\/strong><\/a><\/span>. P\u0159ipomenut\u00ed a objasn\u011bn\u00ed struktury v\u00fdpo\u010dtu zcela jednoduch\u00fdch a z\u00e1kladn\u00edch statistick\u00fdch term\u00edn\u016f, se kter\u00fdmi se mohu v tradingov\u00e9 pr\u00e1ci setkat se nach\u00e1z\u00ed v \u010dl\u00e1nku Z\u00e1klady tradingov\u00e9 statistiky – I.<\/a><\/strong><\/span>. Jak otestovat hypot\u00e9zy, kter\u00e9 mohu vytv\u00e1\u0159et p\u0159i anal\u00fdze historick\u00fdch dat, se pokou\u0161\u00edm popsat v \u010dl\u00e1nku Z\u00e1klady tradingov\u00e9 statistiky – II.<\/a><\/strong><\/span>\u00a0 Jak funguj\u00ed principy v\u00fdpo\u010dtu hodnoty akciov\u00e9ho indexu jsem se pokusil v \u010dl\u00e1nku Akciov\u00fd Index(konstrukce)<\/a><\/strong><\/span><\/span><\/span><\/span>. Prvn\u00ed \u010dl\u00e1nek s\u00e9rie o dluhopisech poskytuje z\u00e1kladn\u00ed n\u00e1hled na budouc\u00ed hodnotu investovan\u00fdch pen\u011bz, toto v \u010dl\u00e1nku Dluhopisy – I.<\/strong><\/span><\/a>. Ve druh\u00e9m \u010dl\u00e1nku s dluhopisovou t\u00e9matikou je pops\u00e1no, jak vypo\u010d\u00edtat sou\u010dasnou hodnotu investice slibuj\u00edc\u00ed pevn\u00fdm v\u00fdnos, tento \u010dl\u00e1nek je zde Dluhopisy – II.<\/a><\/strong><\/span>. Popis struktury americk\u00e9ho dluhopisov\u00e9ho trhu se z\u00e1kladn\u00ed charakteristikou dluhopisov\u00fdch n\u00e1stroj\u016f je mo\u017en\u00e9 naj\u00edt v \u010dl\u00e1nku Dluhopisy – III.<\/a><\/strong><\/span>. Jak interpretovat z\u00e1kladn\u00ed \u00fadaje o dluhopisu je mo\u017en\u00e9 se do\u010d\u00edst v \u010dl\u00e1nku Dluhopisy – IV.<\/strong><\/a><\/span>. Kolik mi m\u016f\u017ee nakoupen\u00fd dluhopis vyd\u011blat, jak si toto m\u016f\u017eu spo\u010d\u00edtat a za jak\u00fdch podm\u00ednek bude v\u00fdpo\u010det platit je pops\u00e1no v \u010dl\u00e1nku Dluhopisy – V.<\/a><\/strong><\/span>. Vyu\u017eit\u00ed dluhopis\u016f jako kolater\u00e1l k jin\u00fdm obchodn\u00edm pozic\u00edm p\u0159in\u00e1\u0161\u00ed v\u00fdhodu \u00faro\u010den\u00ed zablokovan\u00fdch prost\u0159edk\u016f m\u00fdm brokerem, jak je to my\u0161leno je pops\u00e1no v \u010dl\u00e1nku Dluhopisy – VI.<\/a><\/strong><\/span>. Po\u0159\u00edzen\u00ed dluhopis\u016f m\u016f\u017ee p\u0159edstavovat rizika, kter\u00e1 je zapot\u0159eb\u00ed poznat a pochopit jejich z\u00e1kladn\u00ed vliv na p\u0159\u00edpadnou dluhopisovou investici, tyto rizika jsou pops\u00e1ny v \u010dl\u00e1nku Dluhopisy – VII.<\/a><\/strong><\/span>. Popis vlivu \u00farokov\u00fdch sazeb na ceny dluhopis\u016f je z\u00e1sadn\u00ed, jak to matematicky zachytit je pops\u00e1no v \u010dl\u00e1nku Dluhopisy – VIII.<\/a><\/strong><\/span>. Naj\u00edt dluhopis pomoc\u00ed vyhled\u00e1vac\u00edch n\u00e1stroj\u016f m\u00e9ho brokera Interactive Brokers a nakonec si nechat p\u0159en\u00e1\u0161et dluhopisov\u00e1 data do excelovsk\u00e9ho se\u0161itu je p\u0159edm\u011btem \u010dl\u00e1nku Dluhopisy – IX.<\/a><\/strong><\/span>. Pozn\u00e1n\u00ed z\u00e1kladn\u00ed struktury dluhopisov\u00e9ho trhu pomoc\u00ed \u010dasov\u00e9 struktury v\u00fdnos\u016f americk\u00fdch vl\u00e1dn\u00edch dluhopis\u016f m\u016f\u017ee b\u00fdt z\u00e1kladn\u00edm kamenem pozn\u00e1n\u00ed jeho aktu\u00e1ln\u00edho stavu a m\u016f\u017ee pomoci formovat m\u00e1 obchodn\u00ed dluhopisov\u00e1 rozhodnut\u00ed, v\u0161e v \u010dl\u00e1nku Dluhopisy – X.<\/a><\/strong><\/span>. Aukce americk\u00fdch vl\u00e1dn\u00edch dluhopis\u016f a popis z\u00e1kladn\u00ed konstrukce jednotliv\u00fdch typ\u016f t\u011bchto vl\u00e1dn\u00edch dluhopis\u016f je k p\u0159e\u010dten\u00ed v \u010dl\u00e1nku Dluhopisy – XI.<\/a><\/strong><\/span>. Zamy\u0161len\u00ed nad v\u00fdb\u011brem investice do dluhopis\u016f by mohlo b\u00fdt bli\u017e\u0161\u00ed prozkoum\u00e1n\u00ed n\u011bkter\u00fdch jeho vlastnost\u00ed – durace, role po\u0159izovac\u00edch n\u00e1klad\u016f nebo mo\u017enosti p\u0159ed\u010dasn\u00e9ho svol\u00e1n\u00ed emise emitentem je p\u0159edm\u011btem \u010dl\u00e1nku Dluhopisy – XII.<\/a><\/strong><\/span>. Investice do dluhopis\u016f nemus\u00ed nutn\u011b znamenat nakupov\u00e1n\u00ed konkr\u00e9tn\u00edch dluhopisov\u00fdch emis\u00ed, mohu diverzifikovat a nakonec tak\u00e9 po\u0159\u00eddit levn\u011bji, toto v\u0161e pomoc\u00ed dluhopisov\u00fdch burzovn\u011b obchodovan\u00fdch fond\u016f – ETF. Jak toto funguje a co je na tom zaj\u00edmav\u00e9 je pops\u00e1no v \u010dl\u00e1nku Dluhopisy – XIII.<\/a><\/strong><\/span>. O dluhopisov\u00e9m futures jako v\u00fdznamn\u00e9m dluhopisov\u00e9m deriv\u00e1tu, jeho z\u00e1kladn\u00edch vlastnostech a co vlastn\u011b p\u0159edstavuje, je mo\u017en\u00e9 se do\u010d\u00edst v \u010dl\u00e1nku Dluhopisy – XIV.<\/a><\/strong><\/span>. Zapojen\u00ed dluhopisov\u00e9ho futures do obchodov\u00e1n\u00ed v jednoduch\u00e9 kombinaci s po\u0159\u00edzen\u00edm dluhopis\u016f je pops\u00e1no v \u010dl\u00e1nku Dluhopisy – XV.<\/a><\/strong><\/span>. Zapojen\u00ed parametru Konvexnosti a zji\u0161t\u011bn\u00ed, o kolik mohu p\u0159ij\u00edt nebo z\u00edskat p\u0159i dluhopisov\u00e9 investici p\u0159i pohybu tr\u017en\u00edch \u00farokov\u00fdch sazeb o jeden bazick\u00fd bod a jak toto zapojit do mo\u017en\u00e9ho obchodu je pops\u00e1no v \u010dl\u00e1nku Dluhopisy – XVI.<\/a><\/strong><\/span>. Obchodov\u00e1n\u00ed s Treasury dluhopisov\u00fdmi futures, kter\u00e9 sleduje cenu americk\u00fdch vl\u00e1dn\u00edch dluhopis\u016f s Face Value ve v\u00fd\u0161i 100.000,- USD m\u016f\u017ee b\u00fdt pro drobn\u00e9ho obchodn\u00edka nere\u00e1ln\u00e9, proto je mo\u017en\u00e9 do obchodov\u00e1n\u00ed zapojit Yield futures, kter\u00e9 sleduje v\u00fdnos t\u011bchto vl\u00e1dn\u00edch dluhopis\u016f. Popis fungov\u00e1n\u00ed, princip jeho chov\u00e1n\u00ed a dva modelov\u00e9 obchody, jak toto Yield futures zapojit do obchodov\u00e1n\u00ed je pops\u00e1no v \u010dl\u00e1nku Dluhopisy – XVII.<\/a><\/strong><\/span>. Sezn\u00e1men\u00ed se dal\u0161\u00edm dluhopisov\u00fdm deriv\u00e1tem – dluhopisov\u00fdmi Micro futures, jako desetinov\u00fdmi klony „velk\u00fdch“ dluhopisov\u00fdch Treasury futures je n\u00e1pln\u00ed \u010dl\u00e1nku Dluhopisy – XVIII.<\/a><\/strong><\/span>. T-Bill futures kontrakt je deriv\u00e1te nav\u00e1zan\u00fd na americk\u00e9 vl\u00e1dn\u00ed dluhopisy s kr\u00e1tkou dobou do splatnosti, konkr\u00e9tn\u011b na v\u00fdnos 13-ti t\u00fddenn\u00edch T-Bills, o parametrech tohoto deriv\u00e1tu je mo\u017en\u00e9 se do\u010d\u00edst v \u010dl\u00e1nku Dluhopisy – XIX.<\/a><\/strong><\/span>. Deriv\u00e1ty nav\u00e1zan\u00e9 na \u00farokov\u00e9 sazby SOFR (Security Overnight Financing Rate) nejsou nav\u00e1z\u00e1ny na konkr\u00e9tn\u00ed dluhopisy, ale na sazby, za kter\u00e9 se p\u016fj\u010duje na americk\u00e9m mezibankovn\u00edm trhu, p\u0159e\u010d\u00edst si o nich lze v v \u010dl\u00e1nku Dluhopisy – XX.<\/a><\/strong><\/span>. \u00darokov\u00e9 sazby generovan\u00e9 politikou americk\u00e9 centr\u00e1ln\u00ed banky (FED) a p\u0159edstavuj\u00edc\u00ed tzv. Effective Federal Funds Rate (EFFR) slou\u017e\u00ed jako podklad pro 30-Day Fed Futures kontrakty, podstata jejich fungov\u00e1n\u00ed je pak pops\u00e1na v \u010dl\u00e1nku Dluhopisy – XXI.<\/a><\/strong><\/span>. Op\u010dn\u00ed kontrakty nav\u00e1zan\u00e9 na „velk\u00e9“ Treasury futures jsou v\u00fdznamn\u00e9 deriv\u00e1ty, se kter\u00fdmi mohu obchodovat. Popis z\u00e1kladn\u00edch vlastnost\u00ed t\u011bchto „dluhopisov\u00fdch opc\u00ed“ je mo\u017en\u00e9 zjistit p\u0159i \u010dten\u00ed \u010dl\u00e1nku Dluhopisy – XXII.<\/a><\/strong><\/span>. Op\u010dn\u00ed kontrakty nav\u00e1zan\u00e9 na tr\u017en\u00ed \u00farokov\u00e9 sazby, tedy na SOFR futures a 30-Day Federal Funds futures jsou podstatou textu \u010dl\u00e1nku Dluhopisy – XXIII.<\/a><\/strong><\/span>.<\/p>\n

 <\/p>\n

zp\u011bt na hlavn\u00ed str\u00e1nku<\/strong><\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Za\u010d\u00edn\u00e1m \u00a0 \u00a0K obchodov\u00e1n\u00ed jsou zapot\u0159eb\u00ed \u010dty\u0159i v\u011bci – Nastaven\u00ed mysli, Obchodn\u00ed dovednosti, Technologie a Pen\u00edze. Prvn\u00ed \u010dl\u00e1nek Cesta do hlubin traderovy du\u0161e\u00a0obsahuje m\u016fj vlastn\u00ed pohled na Nastaven\u00ed mysli a popis osobnostn\u00edch vlastnost\u00ed obchodn\u00edka tak, jak jsem tyto vlastnosti vypozoroval v praktick\u00e9m \u017eivot\u011b obchodn\u00edka pozorov\u00e1n\u00edm sebe sama nebo m\u00fdch \u00fasp\u011b\u0161n\u00fdch Continue Reading<\/i><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":1574,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-1576","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/P8zd8A-pq","jetpack-related-posts":[{"id":1574,"url":"https:\/\/dobretrejdy.com\/?page_id=1574","url_meta":{"origin":1576,"position":0},"title":"Abeceda","author":"dobretrejdy :c)","date":"13.3.2018","format":false,"excerpt":"Abeceda\u00a0 \u00a0 \u00a0Z\u00e1lo\u017eka Abeceda je dal\u0161\u00edm rozcestn\u00edkem na tomto webu, kter\u00e1 by m\u011bla zobrazovat jednotliv\u00e9 p\u0159\u00edsp\u011bvky pospojovan\u00e9 jednoduch\u00fdmi vysv\u011btluj\u00edc\u00edmi texty do tvaru virtu\u00e1ln\u00ed p\u0159\u00edru\u010dky obchodn\u00edka, kter\u00fd se chce o fungov\u00e1n\u00ed trh\u016f a vlastn\u00edm obchodov\u00e1n\u00ed n\u011bco nov\u00e9ho dozv\u011bd\u011bt. Bude set\u0159\u00edd\u011bna do n\u011bkolika \u00farovn\u00ed podle jednotliv\u00fdch t\u00e9mat, ka\u017ed\u00e1 \u00farove\u0148 pak bude p\u0159edstavovat\u2026","rel":"","context":"Podobn\u00fd p\u0159\u00edsp\u011bvek","block_context":{"text":"Podobn\u00fd p\u0159\u00edsp\u011bvek","link":""},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2292,"url":"https:\/\/dobretrejdy.com\/?page_id=2292","url_meta":{"origin":1576,"position":1},"title":"Logika kombinac\u00ed","author":"dobretrejdy :c)","date":"14.8.2018","format":false,"excerpt":"Logika kombinac\u00ed \u00a0 \u00a0Tento \u010d\u00e1st p\u0159edstavuje sdru\u017een\u00ed \u010dl\u00e1nk\u016f s hlub\u0161\u00edm zamy\u0161len\u00edm nad problematikou op\u010dn\u00edho obchodov\u00e1n\u00ed a m\u011bl by navazovat na str\u00e1nku Za\u010d\u00edn\u00e1m. V \u00favodn\u00edm \u010dl\u00e1nku Syntetick\u00e9 pozice - I. bych cht\u011bl pouk\u00e1zat na z\u00e1kladn\u00ed souvislost mezi cenami op\u010dn\u00edch kontrakt\u016f na stejn\u00e9m strike s malou praktickou uk\u00e1zkou. Jednoduch\u00fd koncept vztahu Call\u2026","rel":"","context":"Podobn\u00fd p\u0159\u00edsp\u011bvek","block_context":{"text":"Podobn\u00fd p\u0159\u00edsp\u011bvek","link":""},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6428,"url":"https:\/\/dobretrejdy.com\/?page_id=6428","url_meta":{"origin":1576,"position":2},"title":"Dluhopisy","author":"dobretrejdy :c)","date":"27.5.2023","format":false,"excerpt":"Dluhopisy \u00a0 \u00a0Tuto podstr\u00e1nku \u201eDluhopisy\u201c jsem vytvo\u0159il proto, abych zde se\u0159adil \u010dl\u00e1nky t\u00fdkaj\u00edc\u00ed se problematiky cenn\u00fdch pap\u00edr\u016f s pevn\u00fdm v\u00fdnosem, zejm\u00e9na dluhopis\u016f a na n\u011b nav\u00e1zan\u00fdch investi\u010dn\u00edch n\u00e1stroj\u016f. Tato str\u00e1nka by tak m\u011bla b\u00fdt m\u00edstem, jak\u00fdmsi miniaturn\u00edm rozcestn\u00edkem t\u00e9to webov\u00e9 str\u00e1nky, kter\u00fd by pomohl v z\u00e1kladn\u00ed orientaci\u00a0 v t\u00e9to velmi\u2026","rel":"","context":"Podobn\u00fd p\u0159\u00edsp\u011bvek","block_context":{"text":"Podobn\u00fd p\u0159\u00edsp\u011bvek","link":""},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4057,"url":"https:\/\/dobretrejdy.com\/?page_id=4057","url_meta":{"origin":1576,"position":3},"title":"Deriv\u00e1ty Volatility","author":"dobretrejdy :c)","date":"4.1.2020","format":false,"excerpt":"Deriv\u00e1ty Volatility \u00a0 \u00a0Tento odd\u00edl webov\u00e9 str\u00e1nky p\u0159edstavuje seskupen\u00ed \u010dl\u00e1nk\u016f zab\u00fdvaj\u00edc\u00ed se problematikou Volatility, jako z\u00e1kladn\u00ed hybn\u00e9 s\u00edle samotn\u00fdch trh\u016f a jednou z d\u016fle\u017eit\u00fdch slo\u017eek utv\u00e1\u0159ej\u00edc\u00ed cenu op\u010dn\u00edch kontrakt\u016f. Zachycen\u00ed Volatility obchodovan\u00e9ho titulu pomoc\u00ed ukazatele Beta je p\u0159edm\u011btem tohoto \u010dl\u00e1nku Beta \u2013 I., dozv\u00edte se, jak\u00e1 je jeho konstrukce, jak\u2026","rel":"","context":"Podobn\u00fd p\u0159\u00edsp\u011bvek","block_context":{"text":"Podobn\u00fd p\u0159\u00edsp\u011bvek","link":""},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8,"url":"https:\/\/dobretrejdy.com\/?page_id=8","url_meta":{"origin":1576,"position":4},"title":"Recenze","author":"dobretrejdy :c)","date":"29.3.2017","format":false,"excerpt":"\u00a0 \u00a0V dne\u0161n\u00edm sv\u011bt\u011b nejroztodivn\u011bj\u0161\u00edch digit\u00e1ln\u00edch m\u00e9di\u00ed z\u016fst\u00e1v\u00e1m st\u00e1le v\u011brn\u00fd fyzick\u00fdm knih\u00e1m s v\u016fn\u00ed pap\u00edru a tiska\u0159sk\u00e9 \u010dern\u011b. St\u00e1le se sna\u017e\u00edm dopl\u0148ovat svou knihovnou literatury s t\u00e9matikou tradingu podle toho, jak tyto knihy pr\u016fb\u011b\u017en\u011b vych\u00e1zej\u00ed, jak jsem na n\u011bkter\u00e9 z nakoupen\u00fdch knih upozorn\u011bn nebo na po\u0159izovanou publikaci n\u011bkdo n\u011bkde odkazuje.\u2026","rel":"","context":"Podobn\u00fd p\u0159\u00edsp\u011bvek","block_context":{"text":"Podobn\u00fd p\u0159\u00edsp\u011bvek","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/dobretrejdy.com\/wp-content\/uploads\/2025\/03\/22-03-2025-9-37-45.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3192,"url":"https:\/\/dobretrejdy.com\/?page_id=3192","url_meta":{"origin":1576,"position":5},"title":"Obchodov\u00e1n\u00ed ud\u00e1lost\u00ed","author":"dobretrejdy :c)","date":"27.4.2019","format":false,"excerpt":"Obchodov\u00e1n\u00ed ud\u00e1lost\u00ed \u00a0\u00a0 Str\u00e1nku \u201eObchodov\u00e1n\u00ed ud\u00e1lost\u00ed\u201c jsem vytvo\u0159il proto, abych ji doplnil o \u010dl\u00e1nky, kter\u00e9 se nevyskytuj\u00ed na str\u00e1nk\u00e1ch \u201eAbeceda\u201c tohoto webu, ale jsou k\u00a0nalezen\u00ed mezi ji\u017e publikovan\u00fdmi \u010dl\u00e1nky nebo se jedn\u00e1 o \u010dl\u00e1nky, kter\u00e9 svou t\u00e9matickou n\u00e1pln\u00ed souvisej\u00ed pr\u00e1v\u011b s\u00a0ud\u00e1lostmi, kter\u00e9 mohou ovlivnit m\u00e9 obchody. Za ud\u00e1losti ve smyslu\u2026","rel":"","context":"Podobn\u00fd p\u0159\u00edsp\u011bvek","block_context":{"text":"Podobn\u00fd p\u0159\u00edsp\u011bvek","link":""},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=\/wp\/v2\/pages\/1576","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1576"}],"version-history":[{"count":61,"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=\/wp\/v2\/pages\/1576\/revisions"}],"predecessor-version":[{"id":7500,"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=\/wp\/v2\/pages\/1576\/revisions\/7500"}],"up":[{"embeddable":true,"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=\/wp\/v2\/pages\/1574"}],"wp:attachment":[{"href":"https:\/\/dobretrejdy.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}