Line Your Own Pockets

Should you restrict your strategy to trade a certain list of symbols? In a surprisingly heated debate, Michael and Dave discuss this topic and different reasons for each approach. --- Before you go! The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course. I hope to see you there!

Looking at your P&L while you're trading is toxic.  This also applies when looking at someone else's results - perhaps even more so. --- Before you go! The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course. I hope to see you there!

Be wary when going from backtest to live trading.  You're at peak optimism, and if you're not careful, disappointment awaits. In this episode, we discuss all the ways a live trading can fall short of your backtest and what you can do about it. --- Before you go! The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up...

How to get out of backtest world and make the next steps to get your strategy live. --- Before you go! The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course. I hope to see you there!

The second episode in our series on creating profitable strategies using backtesting. We review: How most traders backtest the wrong way How to add columns to your backtest What columns make the most sense How your "library of columns" gets more and more valuable over time --- Before you go! The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to bet...

The first episode in a mini-series on how to create a trading strategy using backtesting. --- Before you go! The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course. I hope to see you there!

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 . --- Before you go! The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email cour...

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. --- Before you go! The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course. I hope to see you there!

"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. --- Before you go! The next time you find yoursel...

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 --- Before you go! The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtestin...

We discuss the most common objections traders have to using automation and how to get over the hump. --- Before you go! The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course. I hope to see you there!

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/ --- Before you go! The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to...

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 hi...

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. --- Before you go! The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course. I hope to see you there!

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. --- Before you go! The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course...

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. --- Before you go! The next time you find yourself in a drawdown, I want...

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. --- Befo...

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. --- Before you go! The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free bac...

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. --- Before you go! The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free ba...

Just because you CAN automate doesn't necessarily mean you SHOULD automate it. --- Before you go! The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course. I hope to see you there!

Book on Kelly Criterion: Fortune's Formula --- Before you go! The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course. I hope to see you there!

You finally have a serious trading edge.  And you know it.  How should you think about sizing up? --- Before you go! The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course. I hope to see you there!

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 --- Before you go! The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free...