#美国非农就业数据未达市场预期 The logic between quantitative trading and physical business is actually the same thing.

Both execute processes with fixed rules, earning the spread from "probability edge + economies of scale". Breaking down the core, there are three components:

**Strategy as Business Model**

Quantitative strategies are like restaurant recipes — reusable and iterable. Backtesting is like recipe testing, and live trading is like opening a store. Use rules to run processes, execute repeatedly, and amplify profits through scale.

**Risk Management as Cost Control**

Stop-loss and position sizing correspond to loss control and inventory management in business. The essence is identical — preserve capital and avoid losing everything in one go.

**Returns as Buy-Sell Spread**

Trading profits from volatility and arbitrage; business profits from markup. Both rely on repetition and efficiency optimization.

But in reality, brick-and-mortar businesses hit ceilings very quickly.

No matter how much content marketing a small shop in tier-1 or tier-2 cities does, foot traffic is limited. Online has more traffic, but platforms won't give you business for free — ad spending, utilities, salaries, social insurance, product issues, a pile of things crushing you. In economic downturns, you still have to wrestle with risks and competition.

Trading is different. Capital has strong liquidity, global markets, more opportunities. Of course, it demands higher personal ability. But you don't worry about Web2 hassles — just systematize your trading (entry/exit, stops, psychology), align knowledge with action, and you have a chance to earn wealth within your circle of competence.

Comparing horizontally, I'm still more bullish on the trading path.