Line Your Own Pockets podcast

44:04

The first episode in a mini-series on how to create a trading strategy using backtesting.

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How Real Traders Use AI to Trade 48:15

8 днів тому48:15

48:15

We discuss Dave's recent experience using ChatGPT to create the Strategy Cruncher , a tool for optimizing your trading strategies. Prediction market for who will have the best AI model by the end of the year .

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What Metric Should You Be Optimizing For? 47:53

15 днів тому47:53

47:53

Every trader has an opinion on what the perfect metric is to evaluate a strategy and to optimize on. We discuss our favorites and why.

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How Far Back Should Your Backtest Look Good? 46:21

22 дні тому46:21

46:21

"If your backtest looks great for the last 3 months, why do you care what it looked like before that?" A trader Dave started coaching recently asked this question. The answer cuts to the core of why most traders give up on a trading strategy and end up quitting trading altogether. The Spurious Correlations website that was mentioned in the podcast.…

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What to Prioritize 48:01

29 днів тому48:01

48:01

You've got a lot of ideas, each requiring a certain amount of work. How do you decide what trading ideas are likely to pan out? Improving an existing strategy Creating a new strategy Related workflow tasks The ICE Method

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Why Not Automate Your Trades? 34:06

5 weeks тому34:06

34:06

We discuss the most common objections traders have to using automation and how to get over the hump.

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Learning From Top Performers 39:45

6 weeks тому39:45

39:45

A follow-up on our previous interview with Jared Tendler where we go deeper into: the role of optimism in trading poker and trading learning from top performers in non-trading fields A chart of earnings season: https://www.davemabe.com/earnings-season/

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Interview with Jared Tendler 57:08

7 weeks тому57:08

57:08

This week, we interviewed Jared Tendler, a mental coach for traders, poker players, and golfers. Jared has written several books, including The Mental Game of Trading . This was a wide-ranging interview where we discussed: The mental side of systematic trading How poker and trading are similar and different What traders can learn from top performers in other fields Find more info about Jared on his website: https://jaredtendler.com/…

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Should You Turn Off Strategies On Crazy Days? 36:45

8 weeks тому36:45

36:45

When the market is raging in a way that's far out of the ordinary, should you turn your strategies off? Or let it be business as usual? We discuss the things to consider.

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Turning A Trading Weakness into an Advantage 39:02

9 weeks тому39:02

39:02

We discuss how Dave turned a trader's frustrating bad habit into a positive workflow for creating new trading edge. This is a great case study for the power of a positive mindset and a desire to get better.

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How To Trade When Everything is Moving 45:04

10 weeks тому45:04

45:04

You're trading a strategy - you're comfortable with the number of trades. And then BOOM - one day the entire market is moving and your system generates 10x the number of trades it normally does. How do you react? Michael and I discussed the first time this happened to me and how best to respond to prepare for the next time.…

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Do You Chase Trading Perfection? 42:05

11 weeks тому42:05

42:05

Do you let the quest for perfection get in the way of trading success? It's more common than you might think. We discuss where this tendency comes from and how to let go of it to make progress in your trading. "From the surface, every rabbit hole looks like a pile of money." - Dave Here's a link to the book Michael mentioned: Golf Is Not A Game Of Perfect The Monkey Trap via Robin Hanson.…

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Make Trading Real when Things Are Going Well 24:21

12 weeks тому24:21

24:21

When you're trading part-time and doing well, your trading can seem almost like a video game. Here's actionable thing I tell the traders I coach to do that keeps them motivated to improve even when their trading is going great.

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Take Your Best Trades With Bigger Size 34:36

13 weeks тому34:36

34:36

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Profitable Traders Keep A Journal 47:20

14 weeks тому47:20

47:20

If there's one thing profitable traders do consistently, it's keeping track of their results. Winners keep score! We discuss the do's and don't's of journaling and the things you can safely skip because they're a waste of time.

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What NOT To Automate In Your Trading Business 32:44

15 weeks тому32:44

32:44

Just because you CAN automate doesn't necessarily mean you SHOULD automate it.

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Edge Erosion 31:31

16 weeks тому31:31

31:31

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Position Sizing Is Sexy 45:30

17 weeks тому45:30

45:30

Book on Kelly Criterion: Fortune's Formula

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Sizing Up a Trading Strategy 42:20

18 weeks тому42:20

42:20

You finally have a serious trading edge. And you know it. How should you think about sizing up?

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Should you EVER Take Partial Profits? 31:19

19 weeks тому31:19

31:19

Dave's article on partial profits: Should You EVER Take Partial Profits? Dave's Strategy Corner monthly column at TASC Magazine Social Desirability Bias - why bad ideas get traction Best Loser Wins - book recommendation from Michael

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Why Dave Left Trade-Ideas 26:21

20 weeks тому26:21

26:21

Several months ago, Dave decided to leave Trade-Ideas to focus on trading and coaching. Dave discusses why he left, making big decisions, and focusing on trading.

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Handling a Trading Mistake 39:18

21 weeks тому39:18

39:18

Dave discussed a mistake one of his coaching clients made, how he responded to it, and the changes to his trading process as a result of it. We discuss the critical pieces of your coding workflow that most traders overlook as well as a novel use of Trade-Ideas and Amibroker to create a very efficient trading workflow.…

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Creating a Trusted Trader Group 36:07

22 weeks тому36:07

36:07

Books mentioned: Give and Take by Adam Grant Never Eat Alone by Keith Ferrazzi The Art of Gathering by Priya Parker

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Interview with Brett Steenbarger 45:55

23 weeks тому45:55

45:55

Links mentioned in this episode: Brett's drawdown in the 80's: After a Devastating Loss Brett's Traderfeed Blog: https://traderfeed.blogspot.com/ Brett's Books: The Psychology of Trading Enhancing Trader Performance The Daily Trading Coach Trading Psychology 2.0 (Coming soon!) Positive Trading Psychology (title tentative)…

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24 Hour Trading Is Coming 38:35

24 weeks тому38:35

38:35

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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Evolving Over Time As a Trader 33:59

25 weeks тому33:59

33:59

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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Interview with Marsten Parker 54:33

26 weeks тому54:33

54:33

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…

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Charting Software Roundup 35:06

27 weeks тому35:06

35:06

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 eSignal Free email course on backtesting

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Choosing Backtesting Software 44:46

28 weeks тому44:46

44:46

Trade-Ideas OddsMaker Amibroker RealTest QuantConnect Michael's RealTest Coding Helper: https://chatgpt.com/g/g-5AvG9XdDY-realtest-coding-helper

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Using Regime Filters in a Strategy 37:17

29 weeks тому37:17