Better System Trader



If you’re looking for inspiration, motivation and practical advice on improving your trading results, Better System Trader delivers every week. Each episode brings you an expert trader who shares their own story, along with the steps, both good and bad, that they’ve taken on their path to success. With a focus on actionable insights, the tips and tricks used by the experts contain loads of value, providing you with insanely practical tips and tools you can start using TODAY. Improve your trading with Better System Trader.


  • 186: “Breaking the rules for higher returns” – Scott Welsh

    28/04/2021 Duración: 01h03min

    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.

  • 185: How to avoid creating trading strategies that degrade quickly - Timothy Masters

    12/04/2021 Duración: 01h16min

    Numerical Computing specialist and author Timothy Masters joins us (in his only ever interview) to discuss trading strategy development and validation techniques, including: Why trading strategies fall apart in live trading, How luck impacts trading strategy results and the impact of selecting the 'best' trading system, Why trades in an out of sample dataset are NOT representative of future trades, 3 ways to use Monte Carlo Permutation tests in trading strategy development to avoid overfitting, evaluate strategy robustness and assess the quality of your strategy development process, The danger of using out of sample trades to compute the probability of drawdowns, Entropy and information of indicators and why it's important to strategy development, How stationarity really impacts trading strategies and what strategy developers can do about it, Using Walk Forward to determine how robust a strategy is in the market, Incomplete Beta Distribution to track strategy deterioration, Bootstrapping, granular Profit Fac

  • 184: Increasing returns using "Performance Qualifiers" – Tomas Nesnidal

    30/03/2021 Duración: 58min

    Breakout trading specialist and Hedge Fund manager Tomas Nesnidal joins us to discuss how to increase the returns of trading strategies using "Performance Qualifiers" while also managing risk, including: What is Dynamic Position Sizing (DPS) and how can it improve risk-adjusted returns, How Dynamic Position Sizing is different to classical position sizing (and why DPS is better), Why it’s important for traders to connect position size with what’s going on in the markets, instead of just their equity curve, The 5 groups of Performance Qualifiers and how to use them to identify the probabilities of future trades, Why using filters to improve trading strategies can be dangerous (and DPS is a much better option instead), Plus, Dynamic Position Sizing and risk management, Optimal-f and older position sizing techniques, Dynamic Position Sizing for stocks, forex and other markets, why it’s important for traders to try new concepts, and much more. ► Download the free DPS ebook at  or

  • 183: Overcoming Broken Strategies – Marsten Parker

    24/03/2021 Duración: 01h02min

    Unknown market wizard Marsten Parker joins us to share how he overcame broken strategies and adapted his trading to deliver a 20-year track record most traders would envy, including: Being featured in the “Unknown Market Wizards” book by Jack Schwager, The impacts of a 45% drawdown and how Marsten got back into trading, How to use a system stop to protect your trading account from large losses, Why it’s important to understand why a strategy works, Mean Reversion short strategies, why they’re dangerous and how to mitigate some of the risk, How to detect and protect yourself from a strategy that’s broken, Uncertainty in the market and the future performance of strategies, Equity curve trading, market speed, diversified strategies, tracking old strategies, indicators, market regimes and much more.

  • 182: How to identify high probability markets - David Steets

    09/03/2021 Duración: 01h24s

    David Steets from Systematic Individual Investor joins us to discuss how to map market probabilities and identify high probability markets using "edge stacking" techniques, including: The importance of mapping market probabilities, How to identify if something really contains an edge, Blending return probabilities across buckets to create a probability map, Classifying markets over multiple timeframes, How to confirm which edges are currently relevant, Using both technical and fundamental in models, The reliability of edges over time, Managing conflicting information and edges, Bear market signals, integrating discretion, weighting edges, VIX term structure, “anti-edges” and much more.

  • 181: Short-term Swing Trading Techniques – Ivanhoff

    03/03/2021 Duración: 42min

    On this BST live show, Ivan from Ivanhoff Capital joins us to discuss “Short-term swing trading techniques”. Here are some of the topics you’ll discover in this episode: The 2 most important factors in swing trading, Why short-term trading is better than longer-term trading, Measuring market environment and detecting changes, How to find the hot sectors in the market, Shorting stocks and adapting to market corrections and downtrends, Swing trading in choppy markets, Stacking the odds in your favour, High conviction setups, breakouts vs dips, protecting profits, trailing stops, time stops, swing trading psychology and much more.

  • 180: 3 ways traders kill trading strategies (and how to avoid them) – Rob Carver

    24/02/2021 Duración: 01h13min

    On this BST live show, Rob Carver from joins us to discuss “3 ways traders kill trading strategies”. Here are just some of the topics you’ll discover in this episode: What can go wrong with strategies in live trading, The impact of model complexity on prediction error, (and are simple models really better than more complicated ones - the answer may surprise you!), The dangers of overstated backtest performance, The impact of historic costs on backtest results, The 3 types of overfitting, including 1 that most traders don’t even realise they’re doing, and how to reduce their impact on your trading models, Strategy robustness and letting data define complexity, The overfitting "levels of sin", Correcting for the "multiple testing problem", Fitting metrics, sample size, data quality, prediction error and much more.

  • 179: Effective techniques to identify trends – Doc Ahrens

    16/02/2021 Duración: 01h01min

    On this episode of BST Live, Doc Ahrens from Trendline Dynamics joins us to discuss “Effective techniques to identify trends”, including: The Macro-trend Analyzer indicator and 3 ways to use moving averages for macro trend analysis, Why it's important to have simple trading solutions and what failures in aerospace can teach us about trading strategies,  Studies that conclude technical indicators don't work, Using visual confirmation to understand indicator reaction to market scenarios, The 3 types of support and resistance,  How to draw trendlines properly, why it's impossible to “understand the market”, the importance of persistence in trading and loads more.

  • 178: How to build Mean Reversion trading strategies – Stefan Friedrichowski

    10/02/2021 Duración: 01h30min

    So, the verdict is in… Afrotechmods says: “I think this is the most informative guest you have ever had! Thank you both.” What am I talking about? On this episode of BST Live, Stefan Friedrichowski from JFD Bank joined us to discuss “how to build Mean Reversion trading strategies”, and it was an absolute cracker! Even if you’re not a mean reversion trader, you have to see this one.  Here’s a small sample of the tips and insights you’ll discover: The "alarm signal" that got Stefan interested in Mean Reversion trading, How to determine if a market is good for Mean Reversion or not, How to reduce noise and increase the information content in trading charts,  The danger of using a Mean which moves too fast, How the distribution of 2 bar combinations gives clues about potential trading edges, Adjusting the Mean length based on the timeframe of the chart,  Stop-loss vs take profit size, trading without a stop loss, degrees of freedom, statistical significance, sample size, entries, exits, and loads more.

  • 177: Superior returns from superior risk management – Laurent Bernut

    03/02/2021 Duración: 01h26min

    Ever wondered how to turn $10k into $100k (or more) in just 2 years (or less)? Many traders have, especially early in their careers… But how do professional traders achieve superior returns while also protecting capital.  On this week’s episode of BST Live, Laurent Bernut from Alpha Secure Capital joined us to discuss “Superior returns from superior risk management”, and a new approach to risk management where you can put risk appetite on autopilot, protect capital and achieve superior returns. Here are just some of the tips you’ll discover: How to turn 10k into 1 million (or more) in just 2 years..., How unrealistic trading expectations set you up for failure, What is "superior" risk management and why investors are like teenage girls, Concavity and Convexity Oscillators for dynamic risk management, Position sizing with small accounts, Why you should let the market dictate the risk for you, How to judge the tradability of a strategy, plus Emotional capital vs financial capital and which is more critical, Ri

  • 176: Dealing with market uncertainty and lessons of 2020 - Michael Grech

    16/12/2020 Duración: 57min

    With 2020 coming to a close, we’ve got a great opportunity to stop for a breather (phew!), look at some of the craziness that has happened this year, and identify how we can use those insights to improve our trading even more in the future. On this episode of BST Live Mike Grech from joins us to discuss 2020 and how we can better deal with market uncertainty. Here are just some of the tips you’ll discover: Why 2020 has produced 5 years of market action in 1 year, How this year has produced outsized returns for some trading styles and what could happen next, Understanding your strategy, how it reacts to markets and when to stop trading it, The future impacts of 2020 on backtesting, re-optimization and quant trading, What could crash an overvalues stockmarket if a global pandemic can't, Tail-risk hedging during volatility environments, The drawbacks and dangers of using indicators in trading, plus… The psychology of gains and losses, the information we don't see as traders, the best risk manage

  • 175: 3 under-utilized techniques to build dramatically better trading strategies – Brian Miller

    09/12/2020 Duración: 01h08min

    “Randomness has the greatest negative impact on single entry trading strategies.” – Brian Miller (Optimized Trading). In this new episode of BST Live, Brian Miller from Optimized Trading joins us to discuss “3 under-utilized techniques to build dramatically better trading strategies”.  Brian shared some unique ideas for building (and improving) trading strategies. Here are just some of the tips you’ll discover: Basic market classifications most traders use (that miss the complete picture), Designing models for specific market classifications Managing trades as market classifications change, How to get started building multi-structured strategies, Matching the strategy style to the market, Multi-value, multi-entry strategies, and diversification, Adaptive money management using market classifications, plus… Trade frequency, trending vs mean reverting, intelligent allocation, and much more.

  • 174 : How to find statistical edges to improve your trading – Scott Andrews

    25/11/2020 Duración: 01h01min

    “There are literally hundreds of statistically valid patterns in every market.” – Scott Andrews (Investiquant). So, where are they hiding out, how can we find them and how can we determine the patterns are actually valid and not just random noise in the market? In this new episode of BST Live, Scott Andrews from Investiquant joins us to discuss how to find statistical edges to improve your trading. Here are just some of the tips you’ll discover: How to find potential edges and which markets are best, Why it’s more important to spend time watching and studying the market than actually trading it, The "3 C's rule" to separate genuine signals from the noise, How long can pattern edges actually last and do dead edges ever recover? How to track the health of an edge using t-score, Using "traditional" indicators in patterns, How to deal with drawdowns (and possibly the trading quote of the year!), The "Speed Bump Rule" to manage drawdowns, plus… Allocating capital, edges in stocks, building pattern libraries, ense

  • 173: Trend Trading Tactics – Brent Penfold

    18/11/2020 Duración: 01h14min

    Is the trend REALLY your friend? And if so, why do so many trend traders fail? Global futures trader Brent Penfold joins us to discuss trend trading tactics, including: • Why trend trading is so difficult for traders, • Why traders should be careful using indicators, • How to overcome challenging periods in trend trading, • The surprising robustness of really old strategies, • Why bright people struggle in the markets, • Drawdown, risk, position-sizing, volatility cycles, data mining, and much more.

  • 172: The Magic of Momentum Trading – Alan Clement

    11/11/2020 Duración: 01h14s

    Quant Trader Alan Clement from Helix Trader discusses momentum trading & strategies, including: Why momentum trading is so popular and how it works, What makes a good trend indicator and the 4 best indicators to identify trends,  Why the moving average is not a good trend indicator, How to rank stocks by momentum and how many momentum stocks to hold in a portfolio, The danger of stops and using momentum for exits instead, How dual momentum protects during Bear markets and market crashes, Filtering out false signals in indicators, Plus, market regimes, shorting weak stocks, position sizing, and much more!

  • 171: How to survive market sell-offs – Perry Kaufman

    03/11/2020 Duración: 56min

    With the US elections just days away, traders are thinking about how the markets may react to whatever news the elections may bring. Will we see a big selloff, wild swings in price, and huge spikes in volatility? Or do the markets typically deliver something else around election time? In this episode of BST Live, Perry Kaufman from Kaufman Signals joins us to discuss how to survive market selloffs, including: Historical returns around election days since 1924, The 2 types of prices shocks and the best approach to handling them,  The link between stock price and percentage change and why you should avoid trading low priced stocks, Should traders hedge to reduce risk, The dangers of Price Shocks on backtesting results (and how to avoid them), How to determine the volatility level where returns are no longer worth the risk, Plus, volatility parity, rebalancing, portfolio volatility, and much more!

  • 170: How to detect when a trading strategy is failing – Kevin Davey

    28/10/2020 Duración: 01h15min

    Ever had a strategy that looked like it was broken and wondered if you should stop trading it or not? Strategy failure (or periods of poor performance) are just a part of trading, but how you deal with it can have a HA-YUGE impact on your overall results… so how do you detect when a strategy is failing? How do you work out if you should stop trading it or just give it some more time? In this episode of BST Live, trading champion Kevin Davey joins us to discuss how to detect when a strategy is failing, including: • Why looking at a single equity curve is not giving you the full picture, • How to determine the potential ranges of future strategy performance, • Using Statistical Process Control to monitor trading strategies and which metrics are best, • How Probability Cones can give traders a more informed view of strategy performance (and when a strategy could be broken), • What do to when a strategy over-performs (the answer may not be what you think!), • Should you turn a strategy back on if it recovers afte

  • 169: Will AI replace the human trader – Bob Pardo

    21/10/2020 Duración: 01h03min

    Are our roles as traders coming to an end soon? Is AI and ML (that’s Machine Learning, not Money Laundering or Meat Loaf…) going to take over the trading world? Trading veteran Bob Pardo from Pardo Capital joins us to discuss these topics plus much more, including: How AI is missing common inputs used by human traders, Modeling the expertise of human traders using Expert Systems, The dangers of using computers to blindly create strategies, Retail edges vs Institutional edges and how private traders can compete, The lifespans of edges (are they getting shorter?), The Dynamic Statistical Profile of strategies and taking strategies offline, Correlations (and how correlation can be a 2-edge sword), Objective functions and when it doesn't matter which one you choose, Using performance feedback and indicators on equity curves, Adaptive trading systems, fitting your process to your objective and much more!

  • 168: How to optimize strategies for robustness (properly) – John Ehlers

    13/10/2020 Duración: 46min

    DSP and Cycles expert John Ehlers, joins us to discuss all things optimization, including: Why optimization is a statistical process and how to assess the results properly (including what to look for at “the 50% line”), How much data you should REALLY use for reoptimization and why many traders use way too much data (and the impact it has on trading strategies), The 3 best fitness functions to use in reoptimization and the dangers of a popular metric that can lead to over trading, What the speed of optimization results can potentially tell you about strategy robustness, The only 2 things that count when assessing a strategy (yup, just 2!), Plus, much more. Also, if you want to discover more of John’s Cycles and DSP techniques, John is running his annual workshop for the very last time this year (he’s retiring to go fishing and build model aeroplanes). The workshop is run over 4 evenings (US time – Oct 19-23) and it’s 100% online so no travel or quarantine required. For more info, visit: http://bettersystemt

  • 167: Improve trading performance by being a flexible trader – Steve Ward

    07/10/2020 Duración: 47min

    High-performance trading coach Steve Ward from discusses: How to find the best opportunities during challenging times, Why shifting perspective is such a critical skill for high-performance, How to overcome internal resistance to become more adaptable, “Learning vs Earning” and how to improve your chances of longevity in trading, How to integrate being flexible with the “follow the system” approach of algo/systematic trading to be better prepared for whatever the market may hold, Key actions traders should be doing right now to prepare for an unknown future in the markets, Plus, many more practical tips to improve trading performance. And if you want even more practical tips on high-performance trading, you should check this one out: For the first time ever, Steve is running the 6-week "Trade At Your Best Trading Psychology Course" to teach private traders (he usually only works with institutional clients) the mindset and mental skills required to succeed in the markets, and close the ga

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