Experienced trader Marsten Parker discusses transitioning from discretionary to systematic trading, emphasizing statistical analysis and automated systems. He shares insights on developing fully automated trading systems for breakouts, mean reversion, IPO opportunities, and other strategies. Marsten highlights the importance of avoiding risky stocks, analyzing market regimes, and discrepancies between backtesting and live trading results.

Join Jason Strimpel, a quantitative risk manager and tech leader, and Marsten Parker, a legendary systematic trader, as they dive into the art of back-testing in trading strategies. They explore different tools like Python and Real Test, comparing their strengths and weaknesses. The conversation highlights the critical role of understanding the mechanics behind back-testing, and they share insights on learning Python for trading success. Their discussion also emphasizes the importance of robust workflows and sanity checks to enhance trading efficiency.

Marsten Parker, featured in Jack Schwager's Unknown Market Wizards, joins Michael Covel to discuss systematic trading. Topics include discretionary vs. systematic trading, different trading strategies, backtesting, Jim Simons' career and strategies, misconceptions about short-term trading, and the philosophy of trading and entrepreneurship.