Systematic Trading is Hard. But every other way is just harder.: The study guide for the next generation of the stock market, forex and crypto traders

Systematic Trading is Hard. But every other way is just harder.: The study guide for the next generation of the stock market, forex and crypto traders

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Trading is a “business” of uncertainty and risk management. In short, it is a business like any other. It requires a system that comprises research, strategy, tight execution, measurement, review, and iteration. It is important to approach the market as one would approach a business. One can think of it as Solopreneurship.
In 2020 almost 20 million people started trading on their own globally. This is mind-boggling if you think about it. No other field would have as many “unprepared people” diving in at once. That, too, when stats say almost 90-95% of traders fail.
Why “unprepared people” – because retail trading is one “business domain” where there are no educational qualifications as a prerequisite. Most people start trading discretionarily without any formal training with the hope of figuring things out along the way. Only a lucky few survive by being able to remain solvent long enough to learn the harder way.
Unfortunately, investing and trading are not taught in high schools and colleges, which leaves everyone unprepared, uncertain, and susceptible to emotions, biases, and herding mindset. It should be taught as a foundational subject, as it is an essential life skill, and almost everyone directly or indirectly invests in the market.
For beginners, trading may seem as simple as finding the right strategy. However, the reality is that trading is just as much about psychology as it is about strategy. One’s psychological state can have a significant impact on one’s ability to make correct trading decisions in the real world. Trading is a unique domain. This is one field where being human is the biggest deterrent. This is because it plays directly on the two most cognitively impairing human emotions – Fear and Greed!
This is what makes discretionary trading the harder way – because not just does the trader have to master the market and trading strategy. They also must master their emotions, biases, and execution. Consistency in trading is much harder to achieve this way, especially for a beginner. The only way to win over human psychology is to trade not like humans but like machines – a.k.a. Mechanical Trading, a.k.a. Systematic Trading.
While this book is not the complete solution to this problem, I hope it can offer one of the first steps to provide a process of how to approach the market systematically.
ASIN ‏ : ‎ B0BJYJNRJJ
Publisher ‏ : ‎ Independently published (Oct. 19 2022)
Language ‏ : ‎ English
Paperback ‏ : ‎ 171 pages
ISBN-13 ‏ : ‎ 979-8359012676
Item weight ‏ : ‎ 100 g
Dimensions ‏ : ‎ 15.24 x 0.99 x 22.86 cm
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5 reviews for Systematic Trading is Hard. But every other way is just harder.: The study guide for the next generation of the stock market, forex and crypto traders

  1. Akash Ray –

    A Great Trading BookI don’t have much to add that hasn’t already been said. It is not an easy book to read, not because it is hard to understand or the writing is poor but because it is dense in a good way. I very much liked the extensive before and end of chapter summaries which are unusual to the extent they are used but also incredibly helpful. I’m guessing Mr. Carver understood the depth of material in the book and the “tell them what you are going to say, say it and summarize it again works quite well. I’m in the process of writing a Cliff Note’s version in OneNote and multiple light bulbs and connections are being made. Finally, adapting the material to asset allocators, discretionary and systems traders is a great approach for getting into nuance and the purpose for it.

  2. RISHAV SAHU –

    For a very select audienceI’m a stock trader and I’ve read a ton of trading books. A little background, I would call myself a discretionary, semi-automatic trader. This book is a good example of a comparison between a full fledged systems trader and a semi-automatic trader. It reads like a manual in some spots and then does relate to all traders in others, which makes it valuable and relatable. But if you are new to trading, look elsewhere. This book is for someone who has made mistakes, been beat up, learned more about themselves, and is looking to make trading a business rather than a hobby.

  3. Manish –

    I was just exploring kindle and found this book. Before reading this book, I had little bit knowledge of Trading but after reading this I got to know about systematic trading which gives me completely new to look towards swing trading.

  4. Lakshya Jain –

    This books has given me all the knowledge required for systematic trading right from beginners level to intermediate and then advanced.Must read if you want to learn systematic trading…

  5. Amarendra Kumar –

    The chapters are short as the book goes straight to the point and doesn’t provide any long winding explanations of the topics.

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