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Better System Trader

If you’re looking for inspiration, motivation and practical advice on improving your trading results, Better System Trader delivers every week. Each episode brings you an expert trader who shares their own story, along with the steps, both good and bad, that they’ve taken on their path to success. With a focus on actionable insights, the tips and tricks used by the experts contain loads of value, providing you with insanely practical tips and tools you can start using TODAY. Improve your trading with Better System Trader.
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Jan 10, 2016

We've been very lucky to have a number of trading champions on the podcast before and this episode we get to talk to another champion trader, Michael Cook, who won the World Cup Trading championships in 2007 (Futures), 2011 (Stocks) and 2014 (Futures).

Michael worked in the institutional world for a number of years before leaving behind the banks and hedge funds to trade for himself.

In this episode we'll be discussing how to increase returns with the same risk, using the market to determine stop levels, selecting a position sizing algorithm and the role of discretion in systematic trading.

In this episode we discuss

  • How a short statement from Larry Williams influenced Michael to enter the World Cup Trading championship and what we can all learn from it
  • How Michael won the trading championship multiple times and the unexpected benefit of winning
  • A method to increasing returns for a given risk
  • Why market related stops make more sense that a fixed cash amount
  • Position sizing algorithms and why fixed fractional is often the best approach
  • How to recognise conditions that could cause a strategy to fail before it actually does
  • Hard and soft stops, and how to consider the risk of each
  • The role of discretion in systematic trading
  • Occasions where it make sense to override trading strategies - being more trader than system purist
  • Where to find trading ideas

 

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