231: The Trading Panel – Episode 8

Are our roles as traders coming to an end soon? Is AI and ML (that’s Machine Learning, not Money Laundering or Meat Loaf…) going to take over the trading world? Trading veteran Bob Pardo from Pardo Capital joins us to discuss these topics plus much more, including: How AI is missing common inputs used by human traders, Modeling the expertise of human traders using Expert Systems, The dangers of using computers to blindly create strategies, Retail edges vs Institutional edges and how private traders can compete, The lifespans of edges (are they getting shorter?), The Dynamic Statistical Profile of strategies and taking strategies offline, Correlations (and how correlation can be a 2-edge sword), Objective functions and when it doesn't matter which one you choose, Using performance feedback and indicators on equity curves, Adaptive trading systems, fitting your process to your objective and much more!   Disclaimer: Trading in the financial markets involves a substantial risk of loss and is not suitable for everyone. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice. Past performance is not necessarily indicative of future results.

21 Okt 20201h 3min

DSP and Cycles expert John Ehlers, joins us to discuss all things optimization, including: Why optimization is a statistical process and how to assess the results properly (including what to look for at “the 50% line”), How much data you should REALLY use for reoptimization and why many traders use way too much data (and the impact it has on trading strategies), The 3 best fitness functions to use in reoptimization and the dangers of a popular metric that can lead to over trading, What the speed of optimization results can potentially tell you about strategy robustness, The only 2 things that count when assessing a strategy (yup, just 2!), Plus, much more. Also, if you want to discover more of John’s Cycles and DSP techniques, John is running his annual workshop for the very last time this year (he’s retiring to go fishing and build model aeroplanes). The workshop is run over 4 evenings (US time – Oct 19-23) and it’s 100% online so no travel or quarantine required. For more info, visit: http://bettersystemtrader.com/jeworkshop2020    Disclaimer: Trading in the financial markets involves a substantial risk of loss and is not suitable for everyone. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice. Past performance is not necessarily indicative of future results.

13 Okt 202046min

High-performance trading coach Steve Ward from TradeAtYourBest.com discusses: How to find the best opportunities during challenging times, Why shifting perspective is such a critical skill for high-performance, How to overcome internal resistance to become more adaptable, “Learning vs Earning” and how to improve your chances of longevity in trading, How to integrate being flexible with the “follow the system” approach of algo/systematic trading to be better prepared for whatever the market may hold, Key actions traders should be doing right now to prepare for an unknown future in the markets, Plus, many more practical tips to improve trading performance. And if you want even more practical tips on high-performance trading, you should check this one out: For the first time ever, Steve is running the 6-week "Trade At Your Best Trading Psychology Course" to teach private traders (he usually only works with institutional clients) the mindset and mental skills required to succeed in the markets, and close the gap between potential and actual returns. So, if you want to see what knowledge, insights, and techniques Steve reveals to his Insto clients behind closed doors, this could be your only chance. (Have to admit I’m intrigued too…) The program starts next week, you can find more details about the program at http://bettersystemtrader.com/taybcourse   Disclaimer: Trading in the financial markets involves a substantial risk of loss and is not suitable for everyone. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice. Past performance is not necessarily indicative of future results.

7 Okt 202047min

Nick Radge from TheChartist.com.au discusses how to achieve consistent equity growth using multiple layers of diversification. For more details about The Empowered Trader monthly newsletter, visit http://theempoweredtrader.com   Disclaimer: Trading in the financial markets involves a substantial risk of loss and is not suitable for everyone. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice. Past performance is not necessarily indicative of future results.

28 Sep 20201h 6min

Cesar Alvarez from AlvarezQuantTrading.com discusses effective Market Regime techniques to improve strategy performance and reduce risk by only trading in the best market conditions.   Disclaimer: Trading in the financial markets involves a substantial risk of loss and is not suitable for everyone. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice. Past performance is not necessarily indicative of future results.

21 Sep 202055min

Details about what's next for BST and the special event being hosted this weekend.   Disclaimer: Trading in the financial markets involves a substantial risk of loss and is not suitable for everyone. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice. Past performance is not necessarily indicative of future results.

16 Sep 20208min

As I'm sure you've realised, I've taken a break from podcasting for the last year or so. I've been focusing on some other trading projects so I haven't released any new episodes for quite a while, but over that time I've received a lot of messages from traders hungry for more podcast episodes. Has Better System Trader finished? Is it coming back? I have some interesting news to share - take a listen.   Disclaimer: Trading in the financial markets involves a substantial risk of loss and is not suitable for everyone. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice. Past performance is not necessarily indicative of future results.

12 Sep 20202min

This podcast episode made me think back to the very first computer I bought in my high school days. We’re talking about the mid-1980, when computers were still relatively new. Actually, my first computer was a commodore 64 (how good were they!), which my parents bought me, but the first computer I actually bought myself was a pretty serious computer at the time. It cost about 3 or 4 thousand dollars, which back then was quite a bit of money. And this computer only had a fraction of the power that we have in our mobile phones these days, but back then it was one of the fastest you could get. Anyway, this computer had a special switch on the front of the case, it was called the 'Turbo' switch. I’m not exactly sure how it worked, but when some programs were running slow, I could flick the turbo switch on and it would accelerate the performance of the computer. And I was thinking, wouldn’t it be great if we could have a ‘Turbo’ switch for trading, where we could just flick the switch and instantly boost our performance? Wouldn’t that be awesome? Well, I don’t think such a switch exists unfortunately, but there are definitely things we can do to accelerate our performance, and that’s exactly what we’re discussing today with our special guest and leading performance coach Steve Ward. Steve has over 25 years of teaching, coaching and training experience. He works with traders, fund managers and banking professionals across the globe, helping them to improve their decision making, risk taking and ability to achieve and sustain high performance. Steve’s work is focused on delivering evidence-based practical strategies and tactics, and in this podcast episode we discuss a number of performance accelerators in trading. Here’s some of the things you’ll discover: The key factors that can accelerate trading performance, Why the ‘j-curve’ is so important for developing traders and how to shortcut the process to profitability, How the best traders manage the short-term discomforts of trading to achieve long-term gains, Why suppressing emotions in trading can be like trying to hold a beachball underwater, and how to improve our behavioural flexibility for higher performance, How situational awareness training used by the US marines can improve our trading abilities, Tips to functioning at our best in a world of hyper distractions, Plus, much more.   Disclaimer: Trading in the financial markets involves a substantial risk of loss and is not suitable for everyone. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice. Past performance is not necessarily indicative of future results.

23 Juni 201949min