Core Viewpoint - The article discusses the current bullish trend in the A-share market, highlighting the significant trading volume and the potential for investors to capture beta returns. It introduces the T0 trading strategy as a method to enhance returns through intraday trading opportunities [3][5][6]. Summary by Sections T0 Trading Strategy - T0 trading in the context of A-shares refers to intraday trading strategies that operate under the T+1 settlement rule, allowing traders to sell and buy back positions within the same day to capture small price differences [8]. - There are two main types of T0 trading: - **Forward T0 Trading**: Involves selling part of the position after a price increase and buying back before the market closes [9]. - **Reverse T0 Trading**: Involves buying additional shares after a price drop and selling them after a rebound [9][10]. Types of T0 Trading Strategies - T0 trading strategies can be categorized into short-cycle and medium-long cycle strategies: - **Short-cycle T0 Trading**: Involves high-frequency trading at tick or second levels, requiring advanced technology and low-latency networks to capture fleeting price differences [11]. - **Medium-long Cycle T0 Trading**: Involves trading at minute or hourly levels, focusing on more stable price movements and requiring less stringent technological demands [11][12]. Quantitative T0 Trading Strategies - Quantitative strategies in T0 trading typically involve constructing a base portfolio of around 1000 stocks, with 20%-30% of the portfolio adjusted daily. About 10% of the total position is allocated for T0 trading, contributing approximately 10% to overall returns [14][17]. - A market-neutral T0 strategy involves selecting 500-700 stocks based on various factors, with a low turnover rate and a focus on maintaining risk controls during intraday trading [18][21]. Performance Metrics - The quantitative T0 strategy has shown a year-to-date return of 44.93% and a one-year return of 88.84%, with a maximum drawdown of around 10% since late 2023 [17]. - The market-neutral T0 strategy has achieved a year-to-date return of 7.42% and a one-year return of 14.09%, with T0 trading contributing 40%-50% to overall returns [21][23]. Conclusion - The article concludes that quantitative trading and T0 strategies are well-suited for each other, as the inherent structure of quantitative strategies provides a solid foundation for T0 trading, enhancing overall performance and stability [24][26].