SI31: Should you be using a Stop-Loss? or Target a certain level of Volatility?

Top Traders Unplugged

Niels Kaastrup-Larsen

Business, Business News, Investing, News

4.8 • 670 Ratings

🗓️ 15 April 2019

⏱️ 87 minutes

🔗️ Recording | iTunes | RSS

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Summary

Does Systematic Trading completely eliminate all emotions from the process? Is it wise to use Stop-Losses? Should CTAs target low-volatility & average returns, or high returns with higher possible volatility? Can a finely-crafted Trading System be considered in the same way as a fine piece of art? Are all Trend Following systems essentially the same? We also discuss if intricate rules are better than ‘broader brush-strokes’, if it really is ‘difficult times’ for Trend Following or simply Recency Bias, as well as touching on the value of managing and owning your emotions throughout a trade. Also, we discuss how to deal with an upcoming Futures contract rollover, and answer the question: just how important is the ‘Execution Desk’ at a Trading Firm?

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Episode TimeStamps:

00:00 – Intro

01:50 – Weekly review of performance

05:30 – Top tweets

01:12:00 – Questions 1&2: John; If a trade signal comes just before a roll date, do you move the roll forward to avoid trading twice? Do you ever try to “game” a roll to make a profit?

01:17:30 – Question 3: Michael; When the system designer and the executive are not the same person, how does the executive have confidence in the system/work of the system designer?

01:23:30 – Benchmark performance update

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Transcript

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0:00.0	You're about to join Jerry Parker, Maritz Siebert, and Nealz Kastrup Larson on their raw and honest journey into the world of systematic investing and learn about the most dependable and consistent yet often overlooked investment strategy.
0:15.1	Welcome to the Systematic Investor podcast series.
0:19.5	Jerry Parker, Moritz Siebert, and I, Nils Castellarsan, are back with this week's edition
0:23.5	of the Systematic Investor Series, where each week we focus on helping you build safer
0:28.4	and better performing portfolios by including trend following in the mix and where we do
0:33.5	our best to answer all of your questions.
0:36.9	Good morning, Jerry. Good afternoon, Moritz. How are you guys doing? Good afternoon, Neil questions. Good morning, Jerry. Good afternoon,
0:38.7	Moritz. How are you guys doing? Good afternoon, Neil's. Good morning, Jerry. Doing great.
0:42.2	Doing great. How are you? Good stuff, good stuff. First off, I just wanted to acknowledge all of our
0:48.8	listeners who keep sending us your feedback and your kind words about the podcast, both publicly via tweets
0:55.8	and other social media posts, but also the many emails we get each week.
1:01.5	You know, not only are they lovely to receive, of course, but it really does increase our
1:06.1	commitment to hear how much value you get from these conversations that we have each week.
1:11.2	So a big thanks to all of you for all of the support that you show us.
1:16.4	Now, looking at this week, personally I did not pick up any really major events.
1:22.9	Look more like a continuation of the week before with firm equity prices, softer bond prices, energy
1:29.7	well bit. So we could say maybe the risk on environment continues and of course no surprise.
1:38.3	We saw a big down move in the VIX which I think is down almost 50% so far this year.
1:45.2	So with that in mind, Moritz, I'll be interested to hear how your week panned out.
1:52.5	So-so, yeah.
1:55.1	But pretty much like you said, I mean, along the bonds and that costs money as they retreated.
2:03.3	Still have some short gasoline, short heating oil positions on, which lost some money.
	...

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