Episodes
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Books mentioned:
Give and Take by Adam Grant
Never Eat Alone by Keith Ferrazzi
The Art of Gathering by Priya Parker -
Links mentioned in this episode:
Brett's drawdown in the 80's: After a Devastating LossBrett's Traderfeed Blog: https://traderfeed.blogspot.com/Brett's Books:
The Psychology of TradingEnhancing Trader PerformanceThe Daily Trading CoachTrading Psychology 2.0(Coming soon!) Positive Trading Psychology (title tentative) -
Missing episodes?
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There are big changes on the trading horizon as 24-hour trading is becoming more and more a reality. We discuss how this will affect the markets, what cues we'll be looking for to capitalize on it, and just how important these changes really are.
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In a follow-up to last week's interview with Marsten Parker, Dave and Michael discuss the key to being successful for a long period: adapting.
Whether successful traders realize it or not, they'll eventually have to completely reinvent what they do to stay relevant.
Annie Duke's book Quit: The Power of Knowing When To Walk Away.
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We talk with Marsten Parker who was highlighted in Jack Schwager's Market Wizard book series and the creator of the RealTest backtesting software.
We discuss the process of creating trading strategies, adapting them over time, and completely reinventing yourself as a trader.
Links:
RealTest Backtesting Software
Unknown Market Wizards by Jack Schwager
Dave's Free Email Course on Backtesting -
How many monitors should you have? What chart platform should you use?
"A lot of indicators on a chart is a sign of mediocrity." -- Dave
Software mentioned:
Interactive Brokers
Amibroker
eSignalFree email course on backtesting
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Trade-Ideas OddsMaker
Amibroker
RealTest
QuantConnectMichael's RealTest Coding Helper: https://chatgpt.com/g/g-5AvG9XdDY-realtest-coding-helper
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What is a regime filter and is it useful?
That's the question we discussed on this episode - Michael and Dave have completely different approaches.
Here are links to articles referenced in the episode:
Why I Ignore The Overall Market When I Trade
Why I Avoid Overall Market Filters in Strategies
Is The Market Really More Likely To Continue As The Gap Is Bigger? -
A listener asks how he can remove 30% of the trades he's taking in his trading strategy that he knows are hurting his results.
Are you interested in Backtesting but don't know where to start? Learn the basics with Dave's free email course.
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Many traders come to me with a single complaint - I wish I had more time to devote to my trading.
It takes me back to my early days when I had the same thoughts! It wasn't until several years of hindsight that I realized that having limited time for trading... is a good thing.
We discuss why that is and how you can turn limited time into a positive force for your trading.
Here's the original article we discussed in this episode: Can Limited Time for Trading Be - A Good Thing?
Are you interested in Backtesting but don't know where to start? Learn the basics with Dave's free email course.
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Dave and Michael discuss several ways to incorporate news into a technical trading strategy.
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Dave and Michael discuss the implications of the research from the previous episode. If financial social media is so predictably wrong, how can traders use it?
Should they use it at all?
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In our first interview for the podcast, we talked with Dr. Seyed Kazempour about his paper called Finfluencers. It's a fascinating paper based on research on StockTwits. The conclusion? The more followers someone has on StockTwits, the worse their market predictions.
We discuss the implications of this research for traders.
Here's a link to the Finfluencers paper.
Here's a link to Dr. Seyed Kazempour's website. -
Dave discusses a turning point in his trading career when he realized his trading system wasn't as systematic as he thought. His discretion had drifted over time, changing how he approached trading from that point forward.
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How do you decide what to work on next in your trading? How do you know what's likely to actually improve your results? Dave and Michael discuss a framework for prioritizing strategy development work given your limited time and resources.
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Dave and Michael discuss their processes for recording trading ideas and the software each of them use.
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Dave and Michael discuss their systems for coming up with strategy ideas. Successful traders aren't born with the ability to come up with good ideas. They create a process that they follow day in and day out to notice unusual patterns in the markets that can eventually be turned into profitable strategies.
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Michael and Dave discuss the advantages and disadvantages to paper trading a strategy before trading it live.
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Building on last week's episode, Dave and Michael delve into the more advanced order types that can help make trading easier and more automated.
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There are dozens of different order types. Which ones do you actually need to care about?
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