Summary: <br> Is the concept of being a great stock picker overrated? Are Trend Following returns mean-reverting over time? Will Sharpe Ratios of Trend Following strategies permanently stay lower from now on? Is it becoming harder to be a successful discretionary macro trader? Should you use the same stop-loss for every position? We also give our thoughts on the process of adding a new market to your Trading Universe, ATR and how to apply it to your strategies, when a visit from the SEC can be taken as a compliment, why pain and suffering can sometimes be a necessary component of profitable Trend Following, Louis Bacon deciding to close down his funds, and much more.<br> If any listeners would like to leave us a voicemail message to play on the show, you can do so <a href="https://www.speakpipe.com/ttuvoicemail">here</a>.<br> Learn more about the free-to-use Top Traders Unplugged Trend Barometer <a href="https://www.toptradersunplugged.com/resources/market-trends/">here</a>.<br> You can download your free guide to Systematic Investing, and subscribe to our mailing list by visiting <a href="http://www.toptradersunplugged.com/">TopTradersUnplugged.com</a><br> Get a free copy of my latest book "The Many Flavors of Trend Following" <a href="http://www.toptradersunplugged.com/book">here</a>.<br> Send your questions to <a href="mailto:info@toptradersunplugged.com">info@toptradersunplugged.com</a><br> Follow Niels, Jerry & Moritz on Twitter:<br> <a href="https://twitter.com/TopTradersLive">@TopTradersLive,</a> <a href="https://twitter.com/rjparkerjr09">@RJparkerjr09</a> and <a href="https://twitter.com/moritzseibert">@MoritzSeibert</a><br> And please share this episode with a like-minded friend and leave an honest rating & review on <a href="https://itunes.apple.com/us/podcast/top-traders-unplugged-niels/id888420325?mt=2">iTunes</a> so more people can discover the podcast.<br> <br> Episode Summary<br> 0:00 - Intro<br> 0:57 - Macro recap from Niels<br> 1:55 - Weekly review of returns<br> 8:22 - Top tweets<br> 46:30 - Questions 1/2: Derek; How do you adapt Trend Following models for a constrained universe of markets? How do you educate fundamental Traders about quant investing?<br> 53:31 - Questions 3/4/5: Jonathan; Does having a 5000 sample size backtest apply to each market in each system? Do you use out-of-sample testing? Do you optimize using multiple time-periods?<br> 1:00:37 - Questions 6/7: Indrius; How do you use ATR? Do you take less risk per market as you trade more positions?<br> 1:04:22 - Question 8/9: Brian; How many other Trend Following managers should you invest in? How would you seek out other managers to invest in?<br> 1:12:13 - Question 10: Maurici; Do you use the same stop-loss for every position?<br> 1:19:15 - Question 11: Michael; Why incur personnel costs if all you need is a computer to run your systems?<br> 1:23:37 - Performance recap<br> 1:24:44 - Final thoughts; Is it becoming harder to be a discretionary macro trader?<br> Subscribe on:<br> <a href="https://www.toptradersunplugged.com/itunes" target="_blank" rel="noopener noreferrer"></a> <a href="https://www.stitcher.com/podcast/top-traders-unplugged" target="_blank" rel="noopener noreferrer"></a> <a href="https://soundcloud.com/toptradersunplugged-com/" target="_blank" rel="noopener noreferrer"></a><br>
