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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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Now displaying: January, 2016
Jan 24, 2016

For those traders looking for an edge in every aspect of trading, today's topic is something that isn't discussed too much but has had a great impact on the 2 guests of this episode.

The topic is collaboration in trading and the guests are Michael Cook and Kevin Davey.

Both of these guests have appeared on the podcast before, with Michael being a guest on Episode 39 and Kevin being a guest on Episode 5 and Episode 38.

Both have extensive trading experience too, successfully trading their own money and others.

In this episode they share the impact collaboration has had on their own trading as well as why collaboration is so important, the actual benefits to traders, how to find the right people and tips to maximising effectiveness.

In this episode we discuss

  • Why it pays to put the work into strategies other people would find awkward or too difficult
  • Why collaboration is so important in trading
  • The benefits of collaboration and what you could be missing out on
  • The different levels of collaboration and tips to maximising it's effectiveness
  • How to determine if someone may be a good fit for collaboration
  • How to find traders to collaborate with
  • The most important aspects of trading
  • The most common mistake traders make
Jan 17, 2016

Larry Williams has been a guest of the podcast before, sharing insights from 50 years of trading in Episode 20.

In 1987 he won the World Cup™ trading championship, turning $10,000 to over $1.1 million in 12 months.

He is a published author, with a long list of best-selling books and has also created a number of market indicators including Williams %R, Ultimate Oscillator, the Williams Accumulation/Distribution Indicator, COT indices, cycle forecasts, market sentiment and value measures.

In this episode we'll be discussing algorithmic forecasting, the methods and applications of forecasting, cycles and seasonality, plus some forecasts for the markets in 2016.

In this episode we discuss

  • Why algorithmic forecasting can be so interesting and so challenging
  • Is forecasting just an academic exercise or can it actually be applied to real trading?
  • The difference between Larrys forecasts and others made in the media
  • How past cycles can project what may happen in the future
  • How Larry actually generates forecasts based on past market behaviour
  • Factors that can make forecasts inaccurate and why some factors aren't even considered when forecasting
  • How the forecasting process has changed over the years
  • Forecasts for the Australian and US markets in 2016
  • Which factors have the best forecasting ability
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

 

Jan 1, 2016

Happy New Year!

The start of a new year is typically the time when people review their accomplishments and progress for the past year, and make fresh plans for the year to come.

I thought it might be good to do a quick bonus episode with someone who knows all about setting goals and achieving them. That person is World Cup trading champion Kevin Davey, who was a guest of the show on Episode 5.

Now this is a bonus episode so it’s a really short one but it’s full of great information, including the importance of goals in trading, common mistakes traders make when setting goals and the process to creating good goals.

Whether you're an accomplished goal setter or just starting out I think you'll find value in what Kevin has to share with us today so I hope you enjoy this short chat on goals in trading.

In this episode we discuss

  • Why it’s important to have goals in trading
  • The impacts of not having goals can have on trading success
  • The types of goals appropriate to traders
  • Common mistakes traders make when setting goals
  • An easy way to create good goals
  • How to determine if your performance goals are attainable
  • Why some traders get hung up on goals that aren't relevant
  • Why you need a time limit on your goals
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