Shows
Line Your Own PocketsThe ICE Method for Prioritizing StrategiesAs traders gain experience, the problem shifts from not having enough ideas to having too many ideas competing for limited time and mental energy. Without a system, this abundance quickly becomes overwhelming and leads to paralysis or procrastination.We discuss the ICE method - a simple scoring method to determine which ideas to work on first.Spreadsheet Link https://docs.google.com/spreadsheets/d/1iWG87jZ7KiANQzH9O8KwgtRRl5Wcd60Q/edit?usp=sharing&ouid=112987133391354450813&rtpof=true&sd=true
---Before you go!The next time you find...
2025-12-2233 minLine Your Own PocketsHow Much Does Speed Matter in Trading?In this week's episode of Line Your Own Pockets, we take on a topic submitted by Isaac, a trader I work with.We discuss:When timing/speed matters and when it doesn'tThe types of trading strategies where latency is likely the bottleneckHow rushing to solve problems can be counter-productive (waiting can reveal simpler solutions)Concrete steps to determine if latency is really an issue and how to address itAnd much more...
---Before you go!The next time you find yourself in a drawdown, I want you...
2025-12-1539 minLine Your Own PocketsPortfolio Level Backtesting - Useful or Waste of Time?We butt heads in this episode, arguing about the value of portfolio-level backtesting, one of the key feature differences between RealTest and Amibroker.Is portfolio-level testing essential, or simply premature optimization?
---Before you go!The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course.I hope to see you there!
2025-12-0849 minLine Your Own PocketsHow Often Should You Re-Optimize?We discuss:How to optimize so you have to re-optimize as little as possibleHow better columns directly translate into more robust strategiesHold a rule "in reserve" so you can apply it when needed without full re-optimizationDocumenting previous optimization decisions will make the next strategy betterAnd much more...
---Before you go!The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course.I hope to see you there!
2025-12-0141 minLine Your Own PocketsIs Moving Your Stop To Breakeven a Mistake?We discuss:Similar to taking partial profits, moving a stop to breakeven is more about psychological comfortProfitable trading requires tolerating discomfort, as difficult as that is at timesIt seems like a simple idea to test, but it quickly adds significant complexity to a backtestHow to actually test this in a backtestThis is a great example of the platitudes you often hear from people who are good at talking about trading, but don't actually trade.
---Before you go!The next time you find yourself in a drawdown, I want...
2025-11-2441 min2025-11-1736 minLine Your Own PocketsYou Missed a Trade - Now What?You didn't get a fill on your original entry. The trade would have been profitable for a bit, then it comes back to your original entry price. Do you take the trade? We go in-depth, answering this common dilemma.Your default should be to take the trade if it still matches your systemThere's more information to decide on - what can you add to your backtest?What are post-entry columns, and how can they help?How deep thinking about the issue can help you create brand new strategiesHere's the original article Dave wrote on this topic.
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2025-11-1041 minLine Your Own PocketsNASDAQ's Announcement on Tokenization of StocksMichael and Dave discuss NASDAQ's initiative to tokenize all securities and the implications for traders. They discuss:What tokenization is and what that means for equitiesHow it affects settlement and paves the way for 24/7 tradingPrediction markets and positive externalities of betting ("Betting is a tax on bullsh*t.")Dave proposed a bet to Michael based on the volume traded in the opening and closing crosses in the futureAnd much more...
---Before you go!The next time you find yourself in a drawdown, I want you to stop what...
2025-11-0350 min2025-10-2733 minLine Your Own PocketsStopped Out by a Penny? Good.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!The next time you find yourself in a drawdown, I want you to stop what you're...
2025-10-2046 min
The Independent AdvisorsThe Independent Advisors Podcast Episode 322: The market can change on a dime-- that's part of the fun!If you’ve been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I’d encourage you to head to our website, jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) . Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs.Scheduling is easy—once you land at jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) just click “Schedule Initial Call” and select a time that works best for you!There’s a quick survey to fill out t...
2025-10-1634 minLine Your Own PocketsIs Trading Gambling?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!The next time you find yourself in a drawdown...
2025-10-1330 minLine Your Own PocketsUsing Alternative Data in a BacktestIn 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!The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free...
2025-10-0641 minLine Your Own PocketsA Different Way to Go LiveIn 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!The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free...
2025-09-2937 minLine Your Own PocketsFollow Up On Quant/Discretionary CollaborationFollow-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!The next time you find yourself in a...
2025-09-2243 minLine Your Own PocketsMike Bellafiore and Nick Coutrakon from SMB Capital on Trading TeamsMike 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!The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course.I hope to see you there!
2025-09-1551 minLine Your Own PocketsBaby Steps Towards Automating Your TradesAre 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!The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course.I hope to see you there!
2025-09-0844 minLine Your Own PocketsWhich Version of This Strategy Is Best?We discuss 4 different variations of a strategy that Dave is deciding between and the thought process for doing so.
---Before you go!The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course.I hope to see you there!
2025-09-0144 minLine Your Own PocketsChoosing a Trading ComputerLessons learned from buying a new trading computer.
---Before you go!The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course.I hope to see you there!
2025-08-2536 minLine Your Own PocketsHow to Trade When TravelingRemote desktop solution mentioned:RustDeskTailScale
---Before you go!The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course.I hope to see you there!
2025-08-1850 minLine Your Own PocketsRunning Out of Buying Power - Part 2More discussion on buying power and running out of it might be a good thing.
---Before you go!The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course.I hope to see you there!
2025-08-1143 minLine Your Own PocketsRunning Out of Buying Power - A Good Thing?Is running out of buying power... actually good?Here's the graph of buying power mentioned in the episode:Is Running Out of Buying Power A Good Thing?
---Before you go!The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course.I hope to see you there!
2025-08-0441 minLine Your Own PocketsDeep vs. Wide: Two Paths to Trading ProfitsHow many trades should your strategy take and how profitable should each one be?There are two distinct approaches to answering this question, and most profitable traders fall into one camp or the other.
---Before you go!The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course.I hope to see you there!
2025-07-2838 minLine Your Own PocketsSymbol Lists in Strategies - Yes or No?Should you restrict your strategy to trade a certain list of symbols?In a surprisingly heated debate, Michael and Dave discuss this topic and different reasons for each approach.
---Before you go!The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course.I hope to see you there!
2025-07-2150 minLine Your Own PocketsLooking at P&L (Your's or Some Else's) Is ToxicLooking at your P&L while you're trading is toxic. This also applies when looking at someone else's results - perhaps even more so.
---Before you go!The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course.I hope to see you there!
2025-07-1436 minLine Your Own PocketsYour Backtest Looks Great - What Could Possibly Go Wrong?Be wary when going from backtest to live trading. You're at peak optimism, and if you're not careful, disappointment awaits.In this episode, we discuss all the ways a live trading can fall short of your backtest and what you can do about it.
---Before you go!The next time you find yourself in a drawdown, I want you to stop what you're doing and head on over to betterbacktesting.com to sign up for my free backtesting email course.I hope to see you there!
2025-07-0753 min