Better System Trader 186: “Breaking the rules for higher returns” – Scott Welsh
Apr 28, 2021
01:03:02
World Cup Trading Championship runner-up Scott Welsh joins us to discuss how "breaking the rules" and doing the opposite of "traditional" trading approaches can lead to higher returns, including:
- "Burning the ships" and how limiting beliefs are hurting traders,
- Why traders should "start from the end" and work backwards,
- Why it's good to see losing in your trading,
- The 80/20 rule and why "getting the star" beats diversification,
- How to achieve real-life trading that’s better than the backtest,
- Selection bias - is it really so bad?
- Why you should say “screw you” to people who tell you that you can’t do it,
- Plus, doing the opposite to conventional trading wisdom, breaking the rules with indicators, strategies that never break, trading platforms, beating buy and hold, small profit targets, and much more.
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