Line Your Own Pockets

We've got news for you - there's nobody who cares enough about your stops to go "hunting for them."And getting stopped out by a penny is frustrating, but it's actually a good sign.Blaming an algo or anything else for your trade getting stopped out is counter-productiveWhy most traders are completely wrong about placing stopsHow to select stops for your strategy in a data-driven wayMuch more... ---Before you go!If you're a trader and interested in backtesting and automating your trading strategy and don't know where to start, I want you to stop what you're doing and head on over to davemabe.com to sign up for my free backtesting email course.I hope to see you there!

In this episode, we tackle this popular question. Dave polled several traders he coaches and got some surprising answers.How much is trading like, say, poker, or something that is even more up to chance?Even starting a business can be called gambling if defined purely as "risking money on uncertain outcomes."Does having an edge make trading less like gambling?In a casino, is the house "gambling" because it has a strong edge?What's your take? ---Before you go!If you're a trader and interested in backtesting and automating your trading strategy and don't know where to start, I want you to stop what you're doing and head on over to davemabe.com to sign up for my free backtesting email course.I hope to see you there!

In this episode, we discuss the best way to use alternative data in your backtest.What is alternative data and how can you use it in a strategy?Examples of alternative dataUsing it in real-time versus a backtestHow to automate the process for backtesting and real-time tradingOther episodes mentioned: Using News in Your Trading Strategy ---Before you go!If you're a trader and interested in backtesting and automating your trading strategy and don't know where to start, I want you to stop what you're doing and head on over to davemabe.com to sign up for my free backtesting email course.I hope to see you there!

In this episode, Dave discusses a conversation he had with John M. from SMB Trading and his unique approach to taking a strategy live.We discuss:John's 35+ strategies he runs liveHow he quickly gets a strategy running in productionHis approach to collaboration with other tradersWhat is "strategy taste" and how you can improve yours over time ---Before you go!If you're a trader and interested in backtesting and automating your trading strategy and don't know where to start, I want you to stop what you're doing and head on over to davemabe.com to sign up for my free backtesting email course.I hope to see you there!

Follow-up discussion on quant and discretionary trader collaboration.We discuss:How Dave first connected with BellaThe cultural DNA of SMB CapitalThe challenges of quant/discretionary collaborationThe importance of being a giver, not a takerRelated episode:Mike Bellafiore and Nick Coutrakon from SMB Capital on Trading TeamsCreating a Trusted Trading GroupBooks mentioned:Give and Take by Adam Grant|The Go-Giver by Bob Burg and John David Mann ---Before you go!If you're a trader and interested in backtesting and automating your trading strategy and don't know where to start, I want you to stop what you're doing and head on over to davemabe.com to sign up for my free backtesting email course.I hope to see you there!

Mike Bellafiore and Nick Coutrakon join the podcast to continue a discussion Mike had with Dave on the makeup of trading teams at SMB Capital, a proprietary trading firm in NYC.What's the best way to include a quantitative trader in a discretionary trading team? ---Before you go!If you're a trader and interested in backtesting and automating your trading strategy and don't know where to start, I want you to stop what you're doing and head on over to davemabe.com to sign up for my free backtesting email course.I hope to see you there!

Are you a profitable trader but hesitant to automate your trades?In this episode, we discuss multiple steps to take towards having a computer make trades without fully automating. ---Before you go!If you're a trader and interested in backtesting and automating your trading strategy and don't know where to start, I want you to stop what you're doing and head on over to davemabe.com to sign up for my free backtesting email course.I hope to see you there!

We discuss 4 different variations of a strategy that Dave is deciding between and the thought process for doing so. ---Before you go!If you're a trader and interested in backtesting and automating your trading strategy and don't know where to start, I want you to stop what you're doing and head on over to davemabe.com to sign up for my free backtesting email course.I hope to see you there!

Discover the trials of transitioning to a new trading computer, highlighting tips for outsourcing technical tasks to boost trading focus. Hear the importance of backup plans to address unexpected failures and how to navigate the balance between off-the-shelf and custom solutions. Experience the frustration of technical difficulties during recording and the necessity of reliable tech support. Finally, learn key considerations for optimizing your trading setup, including essential specs and creating streamlined processes for efficiency.

Remote desktop solution mentioned:RustDeskTailScale ---Before you go!If you're a trader and interested in backtesting and automating your trading strategy and don't know where to start, I want you to stop what you're doing and head on over to davemabe.com to sign up for my free backtesting email course.I hope to see you there!