Top Traders Unplugged

Rob Carver returns to the show today to discuss the varying performances among CTAs during the notable market moves of the last few weeks, how to decide whether one system is better or worse than another, spread betting as part of a diversified portfolio, raising initial capital when starting a new firm, some thoughts on the US debt ceiling & its proposed '1 trillion dollar' coin, and how to safely improve your system while still adhering to its rules.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Why returns dispersion among CTAs is higher than ever recentlyHow to gauge a system's long-term effectivenessSpread betting in the UK as an alternative to futuresHow to raise AUM when starting a new firmThe US debt ceiling and its proposed '1 trillion dollar' coinAdding parameters to a system -----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rob on Twitter.Episode TimeStamps: 00:00 - Intro01:11 - Feel free to share this podcast with like-minded friends using this link: https://top-traders-unplugged.captivate.fm/listen and a big thank you to those who have left a rating or review on iTunes03:03 - Macro recap from Niels05:43 - Weekly review of returns12:49 - How different types of CTAs have performed during the market moves of the last few weeks21:14 - How to decide whether a system is better or worse than another system26:11 - Q1; Matt: Has Rob ever considered using SpreadBetting to build a diversified portfolio instead of futures?34:24 - Q2; Joel: How much investor money would you need if you were to start a firm today, and where would you find these investors?38:23 - Thoughts on the US debt ceiling and the ‘platinum coin’ (check out this funny video by YouTube creator Remy)46:58 - Rob’s new system adjustment which places constraints on positions based on leverage55:56 - Some information on Rob Carver’s new book which is due to be released late 202259:36 - Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Richard Brennan joins us today to discuss the stabilising effect that a healthy allocation to Trend Following can have on a portfolio, how to achieve compounded wealth in the long-term with systematic investing, how Trend Following strategies can thrive in both crisis periods as well as good times, some thoughts on data distribution and ‘skewness’, how to effectively communicate the benefits of Trend Following to investors, and the art of ‘embracing uncertainty’ in order to maximise returns.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:How adding Trend Following to a portfolio can smoothen positive returnsCompounding wealth as a systematic investorHow Trend Following can profit during good times and bad timesData distribution, 'skewness', 'convexity', 'kurtosis' and which ones to focus onHow investment terms can often create communication barriersEmbracing the uncertain nature of markets in order to maximise profits-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rich on Twitter.Episode TimeStamps:00:00 – Intro01:49 – A huge thank you to listeners of the show for leaving your 5-star reviews on iTunes, and feel free to share this link with 3 of your like-minded friends: https://top-traders-unplugged.captivate.fm/listen 02:25 – Macro recap from Niels04:10 – Weekly review of performance11:35 – Knowing what to look for in a talented investment manager19:58 – Discussion on the topic of ‘skew’42:44 – How the term ‘skew’ relates to other terms such as ‘convexity’ & ‘kurtosis’ and which terms are the most important for investors to focus on56:33 – Some thoughts on what is referred to as ‘path dependency’01:01:03 – How Trend Following can positively influence an investment portfolio01:02:57 – Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Mark Rzepczynski joins us today to discuss why people are as important as processes when investors are choosing funds, the factors that can predict future performance of a fund manager, how Trend Following often performs best when markets are highly correlated, some thoughts on portfolio construction and the various ways to measure risk, the importance of having a strong narrative when communicating what you do to allocators, the infamous ‘bandwagon effect’ among investors, how current AUM can often affect an investors decision to choose a fund, how capital allocators can improve their due diligence with Trend Following funds, and why investors like firms made up of a strong team rather than a strong single player.You can find Mark’s latest writings here.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:How people appeal more to investors than trading systems aloneHow to spot future star performers in advanceUnconventional approaches to market correlationsThe importance of communication and presentation skills when communicating to clientsWhy investors tend to copy their peersWhether fund size matters to capital allocatorsHow strong teams are usually more sought after by institutional investors than single players-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Mark on Twitter.Episode TimeStamps:00:00 – Intro03:08 – A huge thank you to listeners of the show for leaving your 5-star reviews on iTunes, and feel free to share our link with 3 of your like-minded friends: https://top-traders-unplugged.captivate.fm/listen04:28 – Macro recap from Niels06:15 – Weekly review of performance11:21 – Q1, Q2 & Q3; Brett: Do you group your futures contracts into ‘risk buckets’ (sectors/groups), and give a max exposure to each ‘risk bucket’? Do you apply ‘risk-to-stop’ measures on particular types of asset class or only on the whole portfolio? How do you avoid overweighting your system toward currencies, considering the fact there are so many currency pairs to trade?27:25 – Discussion on the key drivers for manager selection, inspired by a paper co-authored with Mark, which will be released soon57:02 – How important consultations are in the capital allocation process01:26:59 – Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Today we are joined by Jerry Parker to discuss how shorter-term systems can be more susceptible to market noise, the importance of sticking with your system during different market environments, how major investment firms have consistently performed well by keeping Trend Following in their portfolios, some insights into Jerry’s approach to backtesting, the drawbacks of being labelled as a CTA, Jerry’s bold prediction that Trend Following firms will be the most popular type of investment fund in the future, how trading smaller during bad periods can set you up for success during favourable conditions, ensuring protection against cyber attacks, and why past correlations can’t always be relied upon.Also check out my interview with Turtle Trading legendary mentor Richard Dennis here.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:The case for longer-term strategiesNot over-optimising strategies to adapt to every market conditionHow adding Trend Following to a portfolio increases its robustnessWhy Trend Following firms will be the number one choice among investors in the futureHow to prevent cyber attacksWhy you can't always rely on past correlations to continue-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Jerry on Twitter.Episode TimeStamps:00:00 - Intro01:32 - A big thank you to our listeners for leaving 5-star reviews in iTunes02:26 - Macro recap from Niels04:43 - Weekly review of returns15:55 - An insight into Jerry Parker’s approach to backtesting23:06 - Jerry Parker’s thoughts on the challenges of starting a CTA business today and how to overcome them32:35 - Thoughts on effective succession planning for CTAs, as well as some thoughts on staying safe from cyber attacks37:41 - Q1; Sebastien: How do you approach currency hedging?41:17 - How one simple rule can be more powerful than a group of complex rules44:48 - How shorter-term systems can be susceptible to noise47:54 - Why past correlations can’t always be relied upon49:32 - Discussion on a recent TransTrend article on how to respond to extreme volatility in the markets, such as during the COVID-19 pandemic56:34 - Jerry’s thoughts on system diversification01:01:59 - Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Moritz Seibert joins us today to discuss the benefits of ‘system diversification’, the case for buying at all-time highs, how classical Trend Following is performing this year, the optimal amount of sample size for an effective backtest, the best ways to monitor risk levels, some tips for starting a new Trend Following business, some recommended backtesting software for retail traders, and how to navigate around your broker’s negative interest rates.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Why diversifying among systems can be beneficialWhy buying at all-time highs can be difficult, but very profitableClassical Trend Following's recent performance versus newer methodsSome good measures for monitoring riskSome tips for starting a new business based around Trend Following investingSuitable backtesting software for retail investorsHow to approach negative interest rates with your broker-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Moritz on Twitter.Episode TimeStamps:00:00 - Intro01:05 - A big thank you to our listeners who gave us a 5-star review on iTunes & Apple Podcasts03:21 - Macro recap from Niels05:38 - Weekly review of returns18:36 - What Moritz looks for when analysing his backtests26:42 - Q1 & Q2: Derek: What are the most important risk metrics you monitor? If you had to start your Trend Following business from scratch, what would you do differently and what would you keep the same?41:32 - Q3; Joe: Should I prioritise stocks that are working their way out of a correction over stocks making new all time highs?45:16 - Q4; James: Can you recommend a software with backtesting capabilities, suitable for retail investors? 47:10 - Q5; Sebastien: How do you deal with negative interest rates from your broker?51:14 - Q6; Mikhail: Is it worth varying the lengths of time being backtested rather than just, for example, backtesting data over the last 50 years?57:39 - Thoughts on Germany’s upcoming election and its possible effects on the markets01:02:08 - Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

This week, Richard Brennan joins us to discuss whether there are any similarities between Trend Following and other investment approaches, the benefits of ‘forward-testing’ a system, the art of ‘hunting outliers’, what the optimum level of leverage could be, how much total portfolio ‘risk-to-stop’ to aim for, some thoughts on margin requirements, and which other strategy complements Trend Following the best. We also took a deep dive into backtesting, touching on topics such as: how much we can safely derive from a backtest, why a backtest with a smooth equity curve should raise alarm bells, a good checklist to use when creating a backtest, and whether some level of curve-fitting may actually be required for a good backtest.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Which strategies would complement portfolio with 80% already allocated to Trend FollowingWhy 'forward-testing' a system can be quite important before going liveThe art of finding and latching onto outlier performersLeverage, margin, & total portfolio risk-to-stopWhat information to look for in a backtestHow to avoid 'curve-fitting' (and could some curve-fitting be beneficial?)-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rich on Twitter.Episode TimeStamps:00:00 – Intro03:25 – A massive thank you to listeners of the show for leaving your 5-star reviews on iTunes03:47 – Macro recap from Niels05:57 – Weekly review of performance10:59 – Trend Followers as hunters of outliers13:34  – Q1; Louis: Do you recommend starting a new model with lower leverage, so that it has time to adjust to the markets?20:02  – Q2; Aaron: If you had to choose a different strategy to complement your main Trend Following strategy, which one would you choose, and why?25:03  – Q3; Graham: How much margin do you use on different instruments? What total portfolio risk-to-stop do you recommend?35:23 – ‘The good, the bad, and the ugly’ of backtesting52:50 – How to make a backtest as objective and robust as possible01:25:49 – Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Richard Brennan joins us today to discuss the current global risk factors that could cause a large liquidity event, what the term ‘outlier’ really means from a Trend Follower’s perspective, the role of currencies in a Trend Following portfolio, the point at which diversification can end up diluting returns, whether different asset classes should be traded on different timeframes, some thoughts on pyramiding, and defining ‘non-linearity’ when discussing Trend Following models.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:The increasing global risks that could cause large market selloffsHow a Trend Following trader thinks about 'outliers'The role of currency pairs in a Trend Following systemDiversification versus 'Di-worse-ification'Whether to use different timeframes for different asset classesThoughts on 'pyramiding' in and out of positionsRich's explanation of the term 'non-linearity squared'-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rich on Twitter.Episode TimeStamps:00:00 – Intro02:09 – A huge thank you to listeners of the show for leaving your 5-star reviews on iTunes02:31 – Macro recap from Niels11:17 – Weekly review of performance17:10  – Q1; Adam: At what point does diversification become dilution?22:32  – Q2; Mathew: Have there ever been any years where currencies were your top performers?32:09 – What the term ‘outlier’ really means from a Trend Follower’s point of view, as well as some thoughts on the terms ’non-linearity squared' and ‘pyramiding’01:02:36 – Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Mark Rzepczynski joins us on the show this week to discuss the importance of being aware of known and unknown risks, how economic data can contribute to a profitable system, the different types of liquidity, how futures markets are some of the most liquid markets in the world, the need for a rules-based approach to the markets, how fundamental trends usually cause price trends, why making market predictions based on Federal Reserve announcements can be a bad idea, how the constant debasement of purchasing power since the Bretton Woods agreement has made passive investing difficult over the years, some famous quotes that can be applied to investing, and how to integrate ESG investing with Trend Following.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Some famous quotes which apply to investing, such as Donald Rumsfeld's quote about the types of risks to be aware ofHow macro data can contribute to a profitable trading systemThe true definitions of liquidityFutures markets as the most liquid in the worldWhy a rules-based approach to the markets is so importantThe 50th anniversary of the Bretton Woods agreementTrend Following with markets that are ESG-friendly-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Mark on Twitter.Episode TimeStamps:00:00 – Intro02:24 – A massive thank you to listeners of the show for leaving your 5-star reviews on iTunes02:57 – Macro recap from Niels04:37 – Weekly review of performance09:16 – 'The black hole of Jackson Hole' and the 50th Anniversary of the Bretton Woods agreement18:11 – The different types of liquidity29:50 – How to measure a market’s true liquidity01:01:37 – Integrating ESG into Trend Following01:05:02 – Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Jerry Parker is on the show with us today to discuss Ethereum’s recent rise after a new ‘hard fork’, auto-correlation and its effects on Trend Following strategies, how trading extra markets can improve performance, drawdowns as a key to profiting from huge trends, how Trend Following firms who try to be too unique often end up underperforming, the power of pure Trend Following versus over-optimisation, why ESG investing should also take into account human rights issues, why you should love your trading rules but not your positions, and how trading in smaller sizes can lead to much bigger returns.Also check out my interview with Turtle Trading legendary mentor Richard Dennis here.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:The recent comeback in crypto markets and trading crypto futuresThoughts on autocorrelationThe benefits of trading a wide range of marketsHow over-optimisation can result in underperformanceWhy ESG investing should consider human rights issues as well as environmentalWhy your rules are more important than any one positionHow decreasing position size can increase a system's profits-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Jerry on Twitter.Episode TimeStamps:00:00 - Intro04:11 - Macro recap from Niels04:44 - A huge thank you to our listeners for leaving 5-star reviews in iTunes05:25 - Discussion on Ethereum08:34 - Weekly review of returns10:21 - Where does the edge in Trend Following really come from?17:13 - Market selection and utilising auto-correlation26:40 - Q1; Mark: What are some of the things about Systematic Trading that you can only learn from experience?34:48 - Q2; Stacius: When do you know that a strategy is robust, without doing a backtest?38:19 - Jerry’s favourite measurement of risk-to-reward51:21 - ‘Loose pants fit everyone’53:51 - Deciding whether to trade in the Chinese futures markets55:56 - CTAs utilising ETFs 01:02:05 - The benefits of being an amazing ‘quitter’01:05:29 - Trend Following performance during different interest-rate periods01:07:22 - Winton’s positive recent positive comments on Trend Following 01:08:57 - Transtrend’s recent article on volatility and how it should affect your models01:12:59 - Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Today we’re joined by Moritz Seibert to discuss the efficacy of backtests, how to build a profitable spread trading model, Moritz’s addition of Ethereum futures to his portfolio, why commodities such as coal should still be traded, how to incorporate macro data into a systematic strategy, how to distinguish between long-term profitability and shorter-term luck, and the alternatives to Microsoft Excel for managing market data in a Trend Following system.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:How effective Backtests can beApply Trend Following models to synthetic marketsEthereum futuresWhy 'dirty fuel' markets should still be tradedCombining macro data such as inflation into a Trend Following strategyDistinguishing between a lucky streak and a robust systemHow to manage market data for those who aren't familiar with coding-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Moritz on Twitter.Episode TimeStamps:00:00 - Intro01:44 - Macro recap from Niels04:41 - Weekly review of returns10:09 - Discussion on Rich Brennan’s findings that a Trend Follower’s edge comes from the market data itself rather than the trading models13:57 - Q1: Henry: Do you recommend any educational resources that will help me to build a spread trading model, and can Moritz talk about his own spread trading model?29:06 - Q2; Daniel: Can inflation market effects be incorporated into Trend Following strategies?36:16 - Q3; Stasius: What techniques do you use to measure whether strategy actually works and isn’t just in a lucky streak? 44:15 - Q5; Jeff: What alternatives to Microsoft Excel do you recommend, other than CSI?49:46 - Ethereum futures and Bitcoin’s newer, smaller futures contracts58:48 - Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

This week, Richard Brennan from ATS Trading Solutions makes his debut on the show, and we discuss the complexity behind successful Trend Following strategies, momentum trading versus Trend Following, the importance of average win rate, how a weak edge can still lead to strong returns, deflationary environments and their past effects on the Trend Following models, which markets, and how many, to include in a profitable trading system, and how to find the perfect exit strategy with minimum risk.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Why there may be no such thing as a 'simple' successful Trend Following strategyHow to profit across multiple timeframesHow momentum investing is often confused with Trend Following methodsAverage win rate versus average loss rateWhy inflation is usually a good thing for systematic investorsTrailing stops and risk managementHow many markets are ideal for a profitable Trend Following system-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rich on Twitter.Episode TimeStamps:00:00 – Intro01:31 – A huge thank you to listeners of the show for leaving your 5-star reviews on iTunes02:18 – Macro recap from Niels04:23 – Weekly review of performance10:24  – Q1; Kushro: Is there a way for the novice rules-based investor to reliably backtest their rules?12:40  – Q2 & Q3; Danny: Can you give an example of how to trade multiple timeframes? How do I manage risk from unrealised profits & losses?23:35 – Extracting an edge from markets42:22 – Analysing win/loss rates52:00 – Stops and position sizing56:42 – Benchmark performance update57:45 – Some big announcementsCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Mark Rzepczynski joins us this week to discuss ‘algorithm aversion’ and the science of how ‘model anxiety’ shows investors to be naturally wary of rules-based systems. We also discuss how to evaluate momentum data, how a busy week for market news can still be a quiet week for Trend Followers, the benefits of moving away from ‘peak complexity’ as soon as possible, why having too many filters can expose a trader to large opportunity costs, the optimal percentage amount of risk per trade, as well as portfolio construction versus signal generation and which is more important.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:How behavioural finance leaves investors under-allocated to Trend Following strategiesHow to perceive momentum dataWhy the steady flow of market news often has little value for Trend FollowersEmbracing simplicityThe need to avoid too many filters in your systemHow much should be risked per trade-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Mark on Twitter.Episode TimeStamps:00:00 – Intro01:49 – A huge thank you to listeners of the show for leaving your 5-star reviews on iTunes03:02 – Macro recap from Niels04:48 – Weekly review of performance11:59  – Q1; James: What are your views on momentum indicators diverging against price action?24:56  – Q2; Frank: What is your view on the relationship between the stop and the look-back period?28:52  – Q3; John: Is the 2% rule still a popular and good risk-per-trade today?35:56  – Q4; Mark: Would you ever not take a trade because it seems so absurd logically?40:11  – Q5; Frederick: Do you think people are underinvested in CTAs because they want to feel in more ‘in control’ than a systematic approach would allow them to?45:34 – The calculus of business cycles48:51 – Narrative ambiguity versus model clarity50:53 – How to handle depreciating cash54:04 – The power of weather shocks58:01 – Do we need inflation futures?59:58 – Curve play in bonds01:02:11 – Hayek co-ordination problem and recovery01:04:57 – Benchmark performance update01:05:57 – Next week we have Richard Brennan joining us on the show, so send in your questionsCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Jerry Parker returns today to discuss why margin perhaps isn’t as important as people perceive it to be, the resurgence of ‘classical’ Trend Following, the importance of having a low Sharpe ratio, an update on Jerry’s Bitcoin positioning, the drawbacks of trading a single, longer-term timeframe, how European CTAs successfully compete with American CTAs, the best methods for measuring open risk, and why capturing the fewer large trends may be more important than the many small trends.Also check out my interview with Turtle Trading legendary mentor Richard Dennis here.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Jerry on Twitter.Episode TimeStamps:00:00 - Intro01:28 - A huge thank you to our listeners for leaving 5-star reviews in iTunes02:02 - Macro recap from Niels12:07 - Q1; Omar: Why isn’t Trend Following more popular as a strategy?31:37 - Q2 & Q3, Q4; John: What percentage of margin to equity was Jerry using during his Turtle Trading days? What kind of margin levels does Jerry use today at Chesapeake? How do you define and differentiate between ‘profit factors’?40:01 - Q5; Mark: What look back periods do you tend to prefer?47:27 - Deep and fast drawdowns versus longer-lasting, shallower drawdowns 50:48 - Adjusting your trading universe by recent performance58:11 - How newer money managers can differentiate themselves from their competitors01:01:04 - Diversification versus concentration01:05:07 - Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Moritz Seibert joins us today discuss the benefits of stripping down your trading approach as much as possible, the various ways to exit a hugely profitable trade, the different forms of research related to your investing approach, simplification vs over-complication, the acceptable amount of margin per trade, spread-betting using a Trend Following strategy, and if you should trade all markets the same way or tailor to each market accordingly.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:The benefits of simplifying your trading approach as much as possibleOptimal exits from hugely profitable tradesHow to engage in related to your investment approachOver complicating a trading strategyAcceptable margin amountsSpread-trading using a Trend Following strategy-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Moritz on Twitter.Episode TimeStamps:00:00 - Intro02:28 - Macro recap from Niels03:53 - Weekly review of returns11:01 - The commodities reflation trade and Moritz’s trade in Lumber14:32 - Q1 & Q2; Andreas: How do you justify your fee structure?  What long-term returns should we expect from a short-term CTA? At what point does enhancing a strategy become over-complicating it?29:20 - Q3; Mark: What are some of the best look back periods?34:13 - Q4; Frank: Do CTAs place any importance on the Commitment of Traders report?41:14 - Q5; John: What is a normal amount of margin that CTAs use?42:30 - Q6, Q7 & Q8; Babek: Should you trade all markets using the same approach? How do you deal with downside risks once a large profitable uptrend is established? Should position size be increased if the number of open trades is less than the maximum?01:01:56 - Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

We’re joined today by Rob Carver to discuss why investors worried about inflation need to be invested in Trend Following strategies, the Russell 2000 being mainly comprised of companies that are losing money, long and short positions when Trend Following on ETFs, the difficulties in combining simple methods into a balanced and profitable system, open trade equity risk and if it can predict future returns, the perils of over-optimisation, embracing the mindset of Trend Following, and the results of an experiment where retail investors traded the same stocks as a professional fund, leading to different outcomes.You can read some of Rob’s work here.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Trend Following as a solution to rising inflationThe major stock indices being of composed of mainly companies are losing moneyTrend Following on ETFsPredicting future returns using current risk exposureRetail traders versus professional money managers-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rob on Twitter.Copyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Mark Rzepczynski returns this week to discuss the recent decline in commodity prices, perceived hawkish comments from the Federal Reserve, trading narratives versus trading price action, the feasibility of Trend Following on options, the increased time & labour of short-term trading, the benefits of huge sample sizes, the differences between trading single stocks versus index futures, how investing rules offset our natural human tendencies, whether Technical Analysis contributes to typical Trend Following strategies, and Mark explains the ‘3 D’s’ of inflation.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Commodity prices falling, even after recent inflation fearsHow price action incorporates all narrativesTrend Following on optionsThe extra costs of short-term tradingSingle stocks versus index futuresIf Technical Analysis forms part of a typical Trend Following systemMark's '3 D's' of inflation-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Mark on Twitter.Episode TimeStamps:00:00 – Intro01:37 – A big thank you to listeners of the show for leaving your 5-star reviews on iTunes02:32 – Macro recap from Niels06:19 – Weekly review of performance16:53  – Q1; Omar: Why is Trend Following associated mostly to futures?31:32  – Q2; Mohammed: How do I overcome a lack of patience and discipline?35:33  – Q3; Abishek: How does Technical Analysis relate to Trend Following?39:43 – Predicting market reactions to Federal Reserve announcements56:26 – How price moves change narratives and not the other way around01:00:16 – The ‘Three D’s’ of inflation01:05:33 – When is the best time to invest in Trend Following?01:11:29 – Benchmark performance update01:12:52 - Recommended listening or reading this week: The Half Life of Facts by Samuel Arbesman and The Premonition by Michael LewisCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Jerry Parker joins us on the show today to discuss why CTAs could be mistaken in excluding single stocks from their strategies, the possible benefits of having exposure to multiple trading systems, why price action is more important than predictions derived from fundamentals, recommended books for learning about Trend Following, the differences between paper-trading and disciplined execution of real trades, comparing Bitcoin futures to commodity futures, and the extent of simplicity a good trading system should have.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Jerry on Twitter.Episode TimeStamps:00:00 - Intro01:29 - Macro recap from Niels08:01 - Weekly review of returns and the narrative change around Bitcoin19:01 - Q1; Omar: What books do you recommend for Trend Following educational material?27:52 - Q2; Jacob & Sam: Can Bitcoin futures be traded safely even though you can’t trade them over the weekend?35:40 - Q3; Mark: Could Chesapeake and Dunn Capital trade as an ETF to allow more people exposure to their strategies?44:22 - Q4; Vinicius: What are your thoughts about Trend Following on single stocks?50:08 - Q5; Antonio: Should we be less diversified and more concentrated with our trades?01:03:39 - Why having rules isn’t enough to justify a robust trading system01:15:24 - Thoughts on measuring skew01:19:05 - Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Special guest Eric Crittenden returns to the show today to discuss the fallacies of the typical 60/40 portfolio, the Federal Reserve’s recent decision to begin tightening fiscal policy, Eric’s last appearance on the show which was at the March 2020 stock market bottom, different speeds of Trend Following, why stable returns doesn’t always equate to low risk, the difficulty in being comfortable with doing the opposite of what we’re wired to do, how managed futures can help investor’s portfolios, negative interest rates and flight out of fixed income, what could Trend Following bring to the crypto space, and changing the narrative around Trend Following.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:The misconceptions around the safety & profitability of a typical 60/40 portfolioThe recent Federal Reserve decision to tighten fiscal policyEric's last appearance on the show, which was at the exact bottom of the 2020 market crashThe varying speeds of Trend FollowingWhy low-volatility returns may not mean that a strategy isn't riskyOvercoming behavioural biasesManaged futures as a great benefit to investor's portfoliosThe flight out of fixed incomeWhy crypto investors could benefit from Trend FollowingChanging the narrative around Trend Following-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Episode TimeStamps:00:00 - Intro01:59 - Macro recap from Niels03:22 - Weekly review of returns10:41 - What could Trend Following bring to the crypto space?16:36 - How can CTAs change the narrative around investing so that they are included in the picture at all times, instead of just when investors are panicking?24:50 - Q1; Leonie: What goals can I set as an independent Trend Following trader?30:13 - Q2, Q3 & Q4; James: How do you size positions across different speeds of systems? How much in percentage terms should a retail investor allocate to Trend Following strategies? Can you recommend a CTA comparison website?33:16 - Q5; Jacob & Sam: Can Bitcoin futures be traded safely even though you can’t trade them over the weekend?36:30 - Trend Following reframed for better understanding48:04 - Trend Following misunderstood59:48 - Why Trend Following on only a single asset class often leads to failure01:04:17 - Economic and social similarities between today and the 1960s01:07:37 - The fallacies of the typical 60/40 portfolio01:16:54 - How managed futures can help portfolios01:23:16 - Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

What happens when an unexpected major event occurs and all of your supposedly diversified investments suddenly become correlated, before heading sharply to the downside?  Jason Buck and his partner at Mutiny Fund have been thinking about this question for a long-time, and have created a portfolio designed to protect against these ‘Black Swan’, high-volatility events.  Jason has been a long-time listener of the show, so it was only right that I invited him on to discuss some of the methods and thinking behind Mutiny Fund, and how these approaches can provide protection and profits during all market environments.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn This Episode, You’ll Learn:How Jason got to where he is todayIf the initial risks Jason set out to protect his clients against, have changedWhy CTAs could be considered ‘long-volatility’ assets that provide protection during broad market selloffs such as 2020The benefits of ‘ensemble’ investingThe opposite requirements of building wealth versus keeping wealthWhy a sample size of 100 years is still just an anomalyWhy the typical ‘diverse’ portfolio might be riskier than investors realiseWhat a ‘long-volatility’ asset looks likeThe history of long-volatility assetsThe term ‘crisis alpha’ and what it means to him and his clientsHow to overcome the challenges of educating investors about volatility-event risksWhether the addition of long-volatility components to portfolios today has affected his initial approachWhy the Sharpe Ratio is often misunderstood as a risk measurement toolHow much, and why, returns vary among different long-volatility managersHow to approach position sizing with black swan events in mindSome of the common investor mistakesHow to choose between different Trend Following managersHow to create a strategy for inflationary and deflationary environmentsIf less-liquid assets can be safely incorporated into a portfolioHow to analyse backtests properlyIf Jason uses Gold and Bitcoin in his long-volatility strategiesWhat keeps Jason up at night in terms of risks-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Jason on TwitterCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Rob Carver is on the show with us today to discuss why Elon Musk & the Chinese government might be proving that Bitcoin may not be as decentralised as first assumed, whether you should adjust your system according to the instrument being traded, some processes for reinvesting profits into your portfolio over time, thoughts on position sizing, different ways of defending against inflation, if short-term Trend Following may actually be as good as long-term Trend Following, and the sweet spot for number of different futures contracts a good system should trade.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:If Bitcoin is really as decentralised as it's reputed to beAdjusting your system on an individual trade basisWhat to do with your trading profitsDefending against inflationShort-term Trend Following versus long-term Trend Following-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rob on Twitter.Episode TimeStamps: 00:00 - Intro01:33 - Macro recap from Niels04:02 - Weekly review of returns12:15 - Rob’s decision to trade Bitcoin futures21:28 - Why Bitcoin may not be so decentralised38:05 - Q1; Dan: Do you think fitting by instrument makes sense for intraday Trend Following?48:43 - Q2; John: Why does Rob only allocate part of his profits back into his portfolio?57:19 - Q3; Peewee: If Rob could only trade 5 or 6 futures markets, which ones would he pick?01:02:54 - Q4; Saed: Do you prefer keeping position size constant across all trades, or adjusting according to volatility?01:06:38 - Financial Times article: ‘How to Defend Against Inflation’01:13:47 - Check out the new episode from the Top Traders Unplugged series, coming out soon01:14:22 - Article from FactorResearch: ‘Short vs Long-Term Trend Following’01:20:26 - Benchmark performance update01:21:27 - Recommended listening or reading this week: Mark Rzepcynski's blog post on commodity prices during inflationary periods, Nikhil Shamapant on the Hidden Forces Podcast & Josh Rogin on the Joe Rogan Podcast01:26:54 - Next week, special guest Eric Crittenden joins us on the showCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Mark Rzepczynski joins us today to discuss China’s move to ban Bitcoin trading, the Federal Reserve’s announcement of research into a new central bank digital currency, some of the issues around inflation and how it might affect trading, the psychology of drawdowns and the time in between new highs, how inflation can distort price signals, the recent rise of the ‘Misery Index’, Michael Burry’s huge bet against Tesla, the importance of exits in Trend Following strategies, and matching the right ‘Operation Tempo’ for your trading personality.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:China's recent banning of Bitcoin trading and miningThe Federal Reserve's announcement of a possible new digital currencyInflation and its effects on tradingThe psychology around drawdownsPrice signals and how they can be distorted by inflationMatching what Mark terms as 'Operation Tempo' with your personality-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Mark on Twitter.Episode TimeStamps:00:00 – Intro02:11 – Macro recap from Niels05:49 – Weekly review of performance11:00 – Further discussion on our recent talking point of discretionary versus systematic, including some comments from Top Traders Unplugged community member, Danny13:38  – Q1; Fernando: Does it get easier with time and experience, to endure drawdowns?22:40 – Some of the issues around inflation and how that might affect trading44:30 – Momentum crashes and decision-clustering57:35 – The importance of matching your personality to the timeframes you trade01:04:10 – When is the best time to invest in Trend Following?01:11:28 – Benchmark performance update01:12:30 - Recommended listening or reading this week: MacroVoices Podcast featuring David RosenbergCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Jerry Parker joins us today to discuss the benefits of prioritising price over other factors, navigating a high-inflationary environment, how bad markets for average investors can often be great for Trend Followers, how public awareness of a market uptrend can often precede large price drops, the potential drawbacks of trying to standout too much as a money-manager, how classical Trend Following is an increasing rarity in the CTA space, the benefits of investing in Trend Following via a proven manager, the similarities between amateur golfers and traders, the point at which a trend has been ‘confirmed’, and conquering the fear of losses.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Why you should prioritise price over any other form of dataHow bad markets for the average investor is often lucrative for Trend FollowersHow mainstream attention to market trends usually means they're about to endWhy money managers shouldn't always try to stand out too muchThe increasing rarity of classical Trend Following CTAsHow to embrace the mentality of cutting losses-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Jerry on Twitter.Episode TimeStamps:00:00 - Intro02:55 - Macro recap from Niels06:07 - Weekly review of returns13:34 - Stanley Druckenmiller’s recent interview criticising the Federal Reserve16:17 - Q1 & Q2; Shibojet: What are your thoughts about a dynamic trading system that focuses more on what’s working over any given time-period, rather than a static trading system with rigid criteria? Why don’t Trend Followers trade cash equities?39:32 - Q3; Aldo: Is it worth trading a small account using micro-futures? What are your thoughts on pyramiding into positions?50:51 - Conquering the fear of losses53:45 - How many markets should we trade?01:06:58 - Benchmark performance update01:07:56 - CBOE announce new Bond futuresCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Moritz Seibert returns to the show today to discuss the Berkshire Hathaway annual general meeting, the possible raise in interest rates by the Federal Reserve, today’s great environment for Trend Following, the unpredictable nature of the markets and future trends, decentralised finance, increasing ESG requirements in the investment industry, the meteoric rise of Lumber prices, new and smaller Bitcoin futures contracts being listed on the CME, thoughts on Ethereum and Ethereum futures, and the possible advantages of being in a Trend Follower in the cryptocurrency space versus the buy & hold speculators.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Berkshire Hathaways's recent annual general meetingThe likelihood of the Federal Reserve raising interest ratesHow to overcome the unpredictable nature of marketsThoughts on De-FiIncreasing sustainability requirements of the investment industryThe newer, smaller futures contracts being listed on the CMETrend Following on cryptocurrencies-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Moritz on Twitter.Episode TimeStamps:00:00 - Intro01:21 - Macro recap from Niels02:49 - Weekly review of returns11:02 - The Berkshire Hathaway annual general meeting26:24 - Why Lumber prices are on the rise32:44 - New and smaller Bitcoin futures contracts being listed on the CME36:50 - Ethereum futures45:46 - Continued outflows from Cathy Wood’s ARKK innovation ETF46:42 - Q1; John: What is your methodology for selecting which contract month to trade, and when to roll?52:46 - Q2; Brian: What topics, articles, blogs, podcasts or books do you recommend for somebody who wants to learn about cryptocurrencies as fast and easy as possible?59:28 - Benchmark performance update01:00:11 - Recommended listening or reading this week: 'Why the Price of Lumber Has Soared' on the Odd Lots Podcast and Michael Lewis on the Masters in Business Podcast and Tom Basso on Trend Following RadioCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

We’re joined today by Rob Carver to discuss the process of selecting single stocks for a Trend Following system, Rob’s holy trinity of security selection, the JP Morgan-backed fund making huge bets, via options, on the market remaining quiet, the knock-on effects from funds who make large, risky bets, the sweet-spot for average holding periods in a Trend Following system, ‘caveman-style’ Trend Following versus scaling in and out of positions, how to hedge against inflation, how Trend Following historically has performed really well in rising interest-rate environments, and thoughts on Tesla’s recent earnings, a lot of which were from government subsidies and selling bitcoin.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Which stocks to select for a profitable Trend Following systemRob's 'Holy Trinity' for selecting securitiesThe ripple effects of large funds who make large and risky betsThe most profitable holding periods in Trend Following systems'Caveman-style' Trend FollowingHow to hedge against inflationTrend Following's success in rising interest-rate environmentsTesla's recent earnings-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rob on Twitter.Episode TimeStamps: 00:00 - Intro01:36 - Macro recap from Niels04:27 - Weekly review of returns09:38 - Discussion on Tesla’s recent earnings25:13 - Q1; Matt via the Top Traders Unplugged free voicemail service: How do you select single stocks as a Trend Follower?35:02 - Q2; Alfred: Does backwardation lead to price rallies?41:10 - The fund who are now nicknamed ‘Gamma Hammer’ for betting on tranquil markets48:07 - Q3; Riccardo: What does Rob think about mean reversion strategies, and how they can be complimented with Trend Following? What are your thoughts on Systematic Macro strategies, and how do they compare with Trend Following?57:16 - Q4; Michael: How long would it take to convert a system made in Microsoft Excel, to Python?01:00:20 - Q5; James: What do you think about exiting winning trades in stages, rather than at once?01:06:08 - Hedging against inflation01:11:06 - Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Today, Mark Rzepczynski returns to the show to discuss how Trend Following allows investors to own more risky assets, Systematic Global Macro versus Trend Following, the process of how an investor digests new information, classical Trend Following versus modern Trend Following with AI methods, whether rock-star hedge funds such as ARK Invest can end up being too greedy when seeking AUM, why it can be a good idea to avoid timing the different exposures of your portfolio as much as possible, some of the possible reasons behind Dunn Capital’s successful near 50-year track record, and thoughts on position-sizing in relation to historic volatility.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:How a Trend Following approach allows safer access to risky marketsThe differences between Systematic Trading based on macro data versus based on price-onlyHow a top trader should efficiently process new dataModern AI-based Trend Following versus classical Trend FollowingWhether the biggest hedge funds in the world fall victim of being too greedy for AUMWhy you should avoid 'timing the market'The possible secrets of success behind Dunn Capital's near 50-year track record-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Mark on Twitter.Episode TimeStamps:00:00 – Intro02:00 – Macro recap from Niels08:46 – Weekly review of performance13:28 – Swedish systematic macro-fund, IPM, closes after losing $4billion during the pandemic28:37 – New style Trend Following with machine learning versus classical Trend Following53:54 – Some of the reasons behind Dunn Capital’s successful near 50-year track record01:05:03 – Q1 Raymond: What are some good methods for market selection, other than liquidity?01:08:35 – Q2; Dirk: Have you found significant differences between volatility-based position-sizing and a one-size-fits-all approach?01:17:10 – Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Jerry Parker returns to the show today to discuss the how investments can often turn into religions, the recent Coinbase IPO, using historical volatility for position sizing, comparing long-term trend following to Buy & Hold, ‘trend strength’ signals, how much of a portfolio should be allocated to Trend Following strategies, mean-reversion systems versus Trend Following systems, and thoughts on finding or adding to new positions.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:The perils of becoming 'religious' about our investmentsCoinbase's recent stock market listingPosition sizing using historical volatilityBuy & Hold versus Trend Following over long-term look back periodsMean Reversion trading versus Trend-based tradingThe infamous Top Traders Unplugged Trend Barometer-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Jerry on Twitter.Episode TimeStamps:00:00 - Intro01:36 - Macro recap from Niels04:37 - Weekly review of returns09:37 - A question for Jerry, from Mark: If Trend Following philosophy assumes the future is unknown, why is normal to use historical price data?24:44 - ‘Trend Strength’ signals, what they are, and if you should use them26:52 - Whether Trend Followers do actually make market predictions35:49 - A question for Jerry from Jim: What are your thoughts on combining a Trend Following system with a mean-reversion system?40:27 - Meb Faber’s recent poll on how much should be allocated to Trend Following48:31 - Q1; Danny: How do you find new positions to trade?53:09 - Q2; Mathew: How do you define a longer-term timeframe?01:00:44 - Performance recap01:01:50 - Jerry asks Niels to discuss the Top Traders Unplugged Trend BarometerCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Moritz Seibert joins us today to discuss the little-known hedge fund Archegos, who recently blew up and cost billions of dollars for large institutions such as Credit Suisse and Nomura. We also discuss whether cracks are beginning to show in the stock market, the bull market in commodities, opportunities for investing in Chinese commodity markets, the risks of trading in emerging markets, how to trade cryptocurrency futures, and combining Trend Following strategies with none-correlated strategies in the same system.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Over-leveraged hedge funds showing little regard for riskWhat stage of the bull market in stocks we might be inThe rise in commodity pricesTrading in the Chinese commodity marketsThe possible risks of trading in emerging marketsCrypto futures and how they differ from more traditional futures marketsTrend Following combined with other investment strategies for a complete portfoliocall Gold a 'safe-haven' asset?-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Moritz on Twitter.Episode TimeStamps:00:00 - Intro02:19 - Macro recap from Niels05:22 - Weekly review of returns12:48 - Quant trading firms being ready to pounce on a possible upcoming commodity boom, especially in China31:05 - The departure of some CTAs away from major exchanges, and the fund Archegos blowing up costing billions for major global banks49:25 - Arbitraging bitcoin futures01:00:45 - Q1; Jim: What are your thoughts on combining a Trend Following system with a mean-reversion system?01:04:40 - Q2; John: Do you have any advice on which futures contract to trade and when to roll?01:09:14 - Q3; Mark: If Trend Following philosophy assumes the future is unknown, why is normal to use historical price data?01:14:45 - Performance recapCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Jerry Parker is back on the show with us today to discuss why short positions are beneficial to a profitable trading strategy, the importance of not over-tweaking an already good system, the case for Trend Following as the dominant strategy in an investment portfolio, the amount of volatility that can be regarded as too risky, and Jerry calls out Niels for a future debate regarding the possible uses of multi-timeframe analysis.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:The reasons for avoiding a long-only trading systemKnowing when 'good enough' is good enoughWhy investors may be allocating to Trend Following in the wrong amountsWhen volatility equates to riskApproaches to multi-timeframe analysis-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Jerry on Twitter.Episode TimeStamps:00:00 - Intro01:46 - Macro recap from Niels04:34 - Weekly review of returns46:37 - Q1; Marcus: What is Jerry’s approach to shorting stocks?49:50 - Q2 & Q3; Nathaniel: Do you have any suggestions for reliable ‘predictors of return’?  Do you recommend trading futures that are in backwardation?57:16 - Q4; Nick:  Are there advantages to trading markets that are unusually volatile?01:00:07 - Performance recap01:01:00 - Recommended listening or reading this week.Copyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Rob Carver joins us today to discuss whether it’s a good idea to adjust your strategy during different periods of volatility, Bitcoin’s expected role as an inflation-hedge, whether commodities are more suited to shorter-term trading than other markets, the NFT frenzy & its credibility as an investment asset, volume analysis and whether it can be play worthwhile part in a Trend Following system, and why volatility may not be a good measure of risk.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:The case for and against Volatility TargetingWhether Bitcoin can offset any risks from a high-inflationary environmentWhether commodities can be suitable for long-term strategiesThe credibility of NFTs as an asset class Volume analysis as a trading signalVolatility as a measure of risk-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rob on Twitter.Episode TimeStamps:00:00 – Intro02:24 – Macro recap from Niels04:17 – Weekly review of performance31:32 – Q1; Dennis: How can a retail trader with limited capital access the commodity markets?41:47 - Q2; Dennis: How would you deal with big intraday volatility such as in 2020?51:02 - Q3; Cat: Is volume analysis overrated?56:16 - Q4; Gustavo: Why should we be worried about volatility if it is going our way?01:05:52 - Q5; Emra: How often should you recalibrate your system?  Why do you recommend not locking in profits early, after unusually sharp portfolio increases?01:16:08 – Benchmark performance update01:12:25 – Recommended listening or reading this week: Howard Marks’ latest memo01:27:35 – Recommended listening or reading this week: MacroVoices Podcast featuring Juliette DeclercqCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Mark Rzepczynski joins us today to discuss Jerome Powell’s recent speech and how central banks can often confuse markets, the potential of Artificial Intelligence in systematic investing, whether or not holding government bonds is a good idea, the recent rise in interest rates and what it means for the stock market, the relationship between correlations and volatility, why policy makers should avoid trying to engineer future expectations, how recency-bias affects our decision making,  complexity versus complicatedness, robotic systematic investing versus human discretionary investing, how to tell the difference between a systematic and discretionary trader by looking at returns only, and why ‘low-cost’ funds can often end up being more expensive than normal.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Whether artificial intelligence has a place in systematic investingInterest rates and their effects on the trading marketsHow correlations can increase volatilityThe benefits of a more 'hands-off' approach to policy-making The common perils of 'recency bias'Spotting a discretionary trader just by looking at returnsThe hidden costs behind supposed 'low cost' funds-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Mark on Twitter.Episode TimeStamps:00:00 – Intro03:14 – Macro recap from Niels06:36 – Weekly review of performance57:46 – Q1; Mike: How useful do you find capture ratios when analysing performance?1:08:29 – Q2; Andy: What do you think about utilising a CTA or Trend Following ETF?1:14:42 – Q3; Craig: Do you think CTAs are missing out by not trading small-cap crypto, and do you think they will eventually?01:24:03 – Benchmark performance update01:12:25 – Recommended listening or reading this week: Howard Marks’ latest memo01:25:25 – Recommended listening or reading this week: MacroVoices Podcast featuring Juliette DeclercqCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Moritz Seibert returns to the show today to discuss the challenges of managing large amounts of cash in a high-inflationary environment, the importance of maintaining a healthy attitude during long winning-streaks, the resurgence & resilience of the GameStop short-squeeze, Bitcoin reaching $60,000, the importance of prioritising process over outcome, the new VIX ETFs for Bitcoin & Ethereum, and whether or not Gold is a safe long-term investment.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Smart ways to manage cash during periods of high inflationStaying humble during long winning periodsThe GameStop short-squeezeNew volatility-based ETFs for CryptocurrenciesWhy analysing the outcome instead of the process may prove costly in the long runCan we still call Gold a 'safe-haven' asset?-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Moritz on Twitter.Episode TimeStamps:00:00 - Intro01:33 - Macro recap from Niels04:45 - Weekly review of performance32:56 - Q1; Daniel: How much do you risk per trade?48:32 - Q2; Karl: When using moving average crossovers, how do you get back into a trade you were quickly stopped out of?53:25 - Q3; Mark: Why should I place short trades if my backtest says long trades are more profitable? Have you looked at synthetic data, going back over 200 years?01:02:58 - Benchmark performance update01:03:52 - Recommended listening or reading this week: Macro Voices Podcast ft Diego ParillaCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

We have a special episode for you today featuring Turtle Trading legend Jerry Parker and renown Systematic Investor Robert Carver, who debate the topic of Volatility Targeting and how actively one should manage open trade equity risk. We also discuss the benefits of ‘Hybrid Trend Following’ versus classical Trend Following, breakouts & moving averages versus other trend indicators, whether the 2020 market crash should have caused systematic investors to update their strategies, and if short positions should still have a place in today’s Trend Following portfolios.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:The level of active-management that should be involved in controlling open trade equity riskThe benefits and drawbacks of volatility-targetingModern Trend Following methods compared to classical Trend FollowingThe 2020 ‘Covid Crash’ and its possible long-term effects on systematic investingHow important are short positions in a rules-based portfolio?-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Jerry on Twitter.Follow Rob on Twitter.Episode TimeStamps:00:00 – Intro01:45 – Macro recap from Niels03:33 – Weekly review of performance10:10 – Jerry Parker vs Rob Carver debate53:13 – Q1; Michael: Why do you prefer breakouts & moving average cross-overs to other signals?56:58 – Q2; Rene: Do have preferred methods for measuring trend strength?01:05:14 – Q3, Q4, Q5 & Q6: Doogie; How can retail investors in the UK gain access to different CTA funds? Do you trade pair spreads? Why doesn’t Rob trade Bitcoin futures yet? Are Trend Following & Market Making returns correlated?01:09:44 – Q7, Q8 & Q9: Gustavo; How do you manage to transition from an old system to a new system? With a non-binary system, how do you reduce multi-month futures contracts? Do you adjust moving average signals according to recent volatility?01:15:39 – Benchmark performance update01:12:25 – Recommended listening or reading this week: The Anatomy of Bond ETF Arbitrage by the Bank of International Settlements, Pfizer's Abusive Vaccine Deals & Michael Goldstein on ‘Controlling The Bitcoin Rhetoric’Copyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

We’re joined today by Mark Rzepczynski to discuss the return of the GameStop short-squeeze, Trend Following in a high interest-rate environment, the future of AI & machine learning in trading models, the case for including short positions in a portfolio, how to spot a commodity ‘super-cycle’, the different factors driving markets higher, why good news can often be bad news for markets, retail investors opening trades on the wrong ticker symbols, and why Trend Following tends to do better on the long-side.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:If holding bonds "stupid"?The problem of being an economic policy engineerWhy we have to make a distinguish between complicated and complex systemsThe value of intuition - coup d'oeil and ClausewitzRobot systematic versus human (discretionary) can you tell the difference? Is there a Turing test and " I Robot"Correlation and volatilityThe poor quality of forecasts - latest from currency markets Due diligence and quality of managers.Intraday trends – are they stable or unstable?-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Mark on Twitter.Episode TimeStamps:00:00 – Intro01:46 – Macro recap from Niels05:18 – Weekly review of performance01:04:48 – Q1 & Q2; Plamen: Is there an official organisation that studies & publishes data about the CTA industry? Can you speak about the research process you follow and how you generate trade ideas?01:10:49 – Benchmark performance update01:12:25 – Recommended listening or reading this week: Howard Marks’ latest memo01:14:34 – Announcement: Special episode next week featuring both Jerry Parker & Rob CarverCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Jerry Parker returns today to discuss how Trend Following is perfectly suited for both inflationary and deflationary environments, why investors tend to underperform the S&P500 index, how to look at open trade risk & current equity curve, the perils of designing the ‘perfect’ trading system with all the bells & whistles, whether or not it’s a good idea to tighten stop-losses on profitable trades that have risen sharply, why financial media tends to dramatise the impact CTAs have on the markets, and why Trend Following on Bitcoin may be a better option than buy & hold.Also check out my interview with Turtle Trading legendary mentor Richard Dennis here.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Jerry on Twitter.Episode TimeStamps:00:00 – Intro01:28 – Macro recap from Niels03:30 – Weekly review of performance30:49 – Questions from Antonio: What was Bill & Richard’s performance like before they started the Turtle Trader program?  What was Chesapeake’s performance like up until Salem Trading was taken under their wing? What has Trend Following performance been like in the 10 years before 2020? Did Richard Dennis want his Turtles to come up with new ideas? Why did famous Trend Followers stop Trend Following in the 1990s?59:43 – Q1; Mohit: Can you ask Jerry what risk-per-trade he recommends?01:02:36 – Q2; Peter: Has Jerry ever considered running a new ‘Turtle Trading’ experiment?01:13:25 – Benchmark performance update01:14:24 – Recommended listening or reading this week: Dr Andrew Huberman on the Lewis Howes PodcastCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Today, we discuss Bitcoin’s rise to $50,000 and how to judge its future role in society, Moritz’s incredible start to the year without changing any part of his trading system, CME’s introduction of Ethereum futures, The Big Short’s Michael Burry calling a top in Tesla, India’s proposed Bitcoin ban, and how a fascinating study, using over 1 million investment combinations, showed that a 30% allocation to Trend Following increased risk-adjusted-returns on every single occasion.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Moritz on Twitter.Episode TimeStamps:00:00 – Intro01:16 – Macro recap from Niels04:57 – Weekly review of performance41:32 – Q1; Kevin: In a continuous Trend Following strategy with no stops, is there anyway to minimise the whipsaw action during a trend change?47:10 – Q2; Simon: How do you measure the business risks that aren’t related to market performance?49:59 – Q3; Danny: What are your thoughts on using an overall portfolio-based stop-loss55:14 – Q4; Tsatios: To what extent is hedge fund performance a result of skills in accounting & tax laws, on top of performance in the markets?01:00:56 – Benchmark performance update01:21:21 – Recommended listening or reading this week: Macro Voices Podcast ft Jim Bianco & Jeremy Grantham on the Meb Faber showCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Rob Carver returns to the show today to give us his thoughts on the WallStreetBets Reddit forum & their Gamestop short-squeeze, the gamification of trading, why Robinhood had to suspend trading on Gamestop, the attempted short-squeeze in the Silver market, Rob’s recent article on how to become a systematic trader, Niels’ journey into the CTA industry, the importance of diversifying amongst investment processes as well as securities, the rise of passive investing over active, and whether the ascendency of passive investing will lead to extreme levels of market volatility in the future.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rob on Twitter.Episode TimeStamps: 00:00 – Intro02:25 – Macro recap from Niels04:27 – Weekly review of performance42:32 – Q1; Michael: Should you use the US dollar to hedge against multiple long trades?48:47 – Q2; Dennis: Can you discuss the pros & the cons of scaling in & out of positions?59:22 – Q3 & Q4; Woody: Will continued central bank intervention prevent Trend Following profitability?  Will the rise of passive over active investments pose a threat to medium to long-term Trend Followers, in terms of the increased volatility they might create?01:15:39 – Q5; Daniel: When starting a new Trend Following system, should you enter all markets right away, or only enter the positions once new signals arrive?01:21:14 – Q6; Red Eagle:  How often do you see a trade that goes long in one pair, and short in another pair, and do you get excited at this?  Alternatively, do you worry when both pairs are long or short?01:25:50 – Q7; Cordura:  Do you recommend Trend Following on indices only?01:31:57 – Benchmark performance update01:32:49 – Recommended listening or reading this week: Article in the Financial Times on Melvin Capital & the Gamestop frenzy, Hussman Funds recent market comments & Salem Abraham on the Meb Faber podcastCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Mark Rzepczynski joins us today to discuss the Gamestop short-squeeze, democratisation of the investment industry, the increasing expectation among investors that the Federal Reserve will always prevent prolonged market crashes, the 3 main ingredients for a market bubble, whether we are seeing a bubble in the stock market today, the role of short sellers and short selling, whether the WallStreetBets Reddit forum will prompt newer and tighter regulations in the future, the shift towards passive investing over active investing, what we can learn from crowd behaviour, building trading systems without stop-losses, and rare insights into the John W. Henry trading methodology.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Mark on Twitter.Episode TimeStamps:00:00 – Intro01:23 – Macro recap from Niels05:24 – Weekly review of performance01:04:34 – Q1; Jonah: Do you recommend adding to a position as the trend develops?01:12:46 – Benchmark performance update01:14:27 – Recommended listening or reading this week: The Resilience Engineering website & Danielle DiMartino Booth interviews Vikram Mansharamani on YouTubeCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Turtle Trading legend Jerry Parker joins us today to discuss why smart people often struggle with systematic investing, the benefits of non-predictive investment strategies, what changes Jerry would make to Richard Dennis and William Eckhart’s original Turtle Trading rules, why predefined trade exits are good for your mind-state, why Trend Following strategies are so suited to unexpected market events, the importance of sticking to the core principles when applying a Trend Following system, whether Trend Following traders should have learned anything from the markets in 2020, why you should take as little as possible from a backtest, and what having a robust portfolio actually means.Also check out my interview with Turtle Trading legendary mentor Richard Dennis here.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Jerry on Twitter.Episode TimeStamps:00:00 – Intro01:41 – Macro recap from Niels03:54 – Weekly review of performance52:18 – Q1; Zack: Are there any known Trend Following strategies that increase position sizes as volatility increases?57:55 – Benchmark performance update01:21:21 – Recommended listening or reading this week: Paul Singer on the End Game Podcast with Grant Williams, Corey Hoffstein on Bloomberg’s Odd Lots Podcast & Jack Schwager on The Derivative PodcastCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

In today’s show, we discuss the benefits of not taking profits too early during huge price moves, how a Trend Follower might be trading Bitcoin, if March 2020 may have impacted a Trend Follower’s approach to the markets, why the S&P 500 could be considered just as much of an ‘alternative’ market as Iron Ore, our most memorable trades, Bitcoin as a great diversifier in a Trend Following portfolio, and how a retail trader can gain access to managed futures.  Questions we answer this week include: What prompted Moritz to place his Tesla short trade recently, and how did it play out?  What are your views on stop-losses?-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Moritz on Twitter.Episode TimeStamps:00:00 – Intro01:40 – Macro recap from Niels05:06 – Weekly review of performance53:15 – Q1; Carlos: Has March 2020 impacted how you view your Trend Following approach?59:14 – Q2; James: Why did Moritz place a discretionary short-trade on Tesla last month? Why does Dunn Capital avoid using stop-losses? What are your most memorable trades?01:12:09 – Q3; Peter: Do you recommend any particular brokers?01:17:30 – Q4; Craig: What are your thoughts on managed futures ETFs?01:20:22 – Benchmark performance update01:21:21 – Recommended listening or reading this week: Macro Voices Podcast ft Art Berman & Danielle Dimartino-Booth on The Felder Report PodcastCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

We’re joined today by Rob Carver to discuss how quant managers compared to discretionary managers in 2020, Winton Capital’s underperformance and resulting loss of AUM, the pressure for successful Trend Following firms to expand into different investment styles, why March & December 2020 were generally the best for Trend Followers despite being so different, how a portfolio combining a few historically successful Trend Following firms has proven to be a very potent investment strategy, navigating negative interest rate environments, how to look at Sharpe Ratios effectively, and how to calculate the ‘Serenity Ratio’ of various strategies.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rob on Twitter.Episode TimeStamps: 00:00 – Intro03:07 – Macro recap from Niels03:59 – Weekly review of performance47:20 – Q1; Michael: How many truly diversifying instruments are there, globally?54:42 – Q2; Bruno: As a futures trader, how do you recommend I manage the cash part of my portfolio?01:02:30 – Q3; Kyle: What are your thoughts on scaling in and out of positions?01:08:46 – Q4; Craig: How can Trend Following take advantage of a ‘risk aversion’ environment?01:14:37 – Benchmark performance update01:08:45 – Recommended listening or reading this week: Matt Levine’s articles Bloomberg, The RInger Podcast: ‘Gamblers’ & Tim Harford’s Cautionary Tales Podcast on the COVID VaccineCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

In this episode, I conclude my special 2-part series on how to design a Trend Following system, with a deeper dive into some performance statistics over the last couple of decades, including correlations, drawdowns and how different market environments have impacted our system.  I also touch on how to add some ‘personality’ to a fully algorithmic trading system.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Copyright © 2025 – CMC AG – All Rights ReservedPrivacy Policy----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HereDisclaimer

In today’s special episode, I go deep into how to design a robust and profitable Trend Following program.  I also cover topics such as why having an opinion on any of your trading positions can be a bad idea, how Trend Following returns can vary massively with just a slight shift in portfolio weightings, the benefits of having a unique approach to the markets, and why longer-term trading may be more profitable than short-term trading.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Episode TimeStamps:0:00 – Intro1:37 – A thank-you to our hosts, previous guests, production team, and all listeners of the show3:35 – 2020 Macro recap from Niels6:51 – How to think about trading and system development31:59 – Performance recapCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Today we welcome back Jerry Parker and Moritz Seibert onto the show to discuss the possible long-term breakout of commodity prices, trading Tesla around its inclusion into the S&P 500 index, carrying out non-system trades, Bitcoin reaching new all-time highs, the importance of staying in some of these long-awaited trends, relying on your backtest regardless of the circumstances, why long-only buy & hold funds might not deserve many plaudits this year, the perfect time to make adjustments to your system, and why it can be a good idea to avoid being too skeptical in the markets.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Jerry on Twitter.Follow Moritz on Twitter.Episode TimeStamps:00:00 – Intro01:28 – Macro recap from Niels04:13 – Weekly review of performance12:34 – What is risk management?57:50 – Q1; Michael: When you trade foreign instruments, do you trade them in their native currencies?01:00:54 – Q2; Jim: Does the need for diversification outweigh the benefits of concentrated gains?01:14:37 – Benchmark performance update01:08:45 – Recommended listening or reading this week: Hidden Forces podcast, Kyle Bass on the Macro Voices Podcast & Jack Schwager on the Systematic Investor PodcastCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Special guest Mark Rzepczynski returns to the show today to discuss how Trend Following strategies performed during this very unusual year, the likeliest safe-haven assets of 2021, whether or not 2020 should be a year that brings about new adjustments to your trading systems, how being nimble can increase robustness, Trend Following as a ‘store of value’, whether the context of financial & world news should be important to systematic trading, the disconnect between financial assets & the real-world economy, and we also attempt to explain the returns dispersion found among similar strategies this year.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Mark on Twitter.Follow Moritz on Twitter.Episode TimeStamps:00:00 – Intro01:17 – Macro recap from Niels02:40 – Weekly review of performance13:15 – Moritz: What do you see the narrative for 2021 Trend Following strategies will be?27:07 – Niels: How would your performance look this year if you took out the 2 biggest winners?53:09 – Trend Following as a store of value01:07:42 – Benchmark performance update01:08:32 – Jerry Parker joins us on the show next week. Send in any questions you may have.01:08:45 – Recommended listening or reading: In Defense of Trouble Makers by Charlan Jeanne Nemeth & A Deflationary World with Jeff Boothe on the Investors Podcast NetworkCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Today, we discuss why a random calendar year is not a good measure of performance, recent increased volatility in alternative markets, how to define an ‘alternative’ market, the strong case for a mixed portfolio of stocks & Trend Following strategies, how to perform the easy-money Bitcoin trade, the benefits of using and investing in Bitcoin, trading the Chinese futures markets, and why a Trend Following system would have entered you into a Tesla position without the need for any predictions.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Moritz on Twitter.Episode TimeStamps:00:00 – Intro02:15 – Macro recap from Niels05:14 – Weekly review of performance52:51 – Q1; Fernando: How have your views on position sizing evolved over the years?  & What are your thoughts on managing drawdowns?01:03:18 – Benchmark performance update01:06:10 – Recommended podcast listening this week: Rishi Narang on the Chat With Traders Podcast & Keith McCullough on The Felder Report podcastCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

I first interviewed today’s guest back in 2015, where he predicted the Dow Jones Index would go to 32,000…a bold call back then. Mahendra Sharma is an astrological investor with an amazing track record of accurately predicting market fluctuations. He has spent his career studying astrological charts and conveying those findings, along with his understanding of human behavior, into a lucrative business giving advice on when to sell and when to hold various commodities, bonds, and currencies. His latest book on 2021 Financial Prophecies will be released in January.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn This Episode, You’ll Learn:How Mahendra got into astrologyWhy he relocated to Kenya as a young manWhy Mahendra pivoted to predicting the global marketsWhy Mahendra stopped predicting big world events after 9/11How he built his financial astrological charts and what he is looking forHow astrological charts are in some ways similar to other statistical based investment approachesHow human behavior fits into the astrological processMahendra’s prediction of Tesla from 2018What are Mahendra’s predictions for 2021What trend the European equities markets will followWhy Mahendra sees an issue with the Euro as we approach 2024The interesting correlation between the year 2021 and the Fibonacci sequenceMahendra’s interesting prediction about Gold for the year 2052Where Mahendra sees the $Dollar bottoming outWhat commodities stand out to MahendraMahendra’s prediction for a potential Bitcoin CRASH in early 2021Why investors should be careful after 2024-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Mahendra on LinkedInCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

In today’s episode, we discuss how to effectively manage your emotional stability regardless of trading performance, the true value of Bitcoin and the various catalysts behind its price movements, the importance of being able to get back into a trade you may have recently been stopped out of, managing leverage and volatility in a portfolio, how to approach extreme anomalies in historical price data, and much more.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Moritz on Twitter.Episode TimeStamps:0:00 – Intro1:33 – Macro recap from Niels3:17 – Weekly review of performance8:13 – Q1, via voicemail, from Gene in New Zealand: Is it ok to ignore perceived anomalies & outdated occurrences in historical data?20:49 – Q2; Veyana: If I get whipsawed out of a trade and it sets up again immediately after, should I take the trade again?25:26 – Q3; Terrance: How do I control the leverage of my portfolio when utilising volatility parity?32:00 – Q4; Sebastien: How do you separate your self-worth from your net worth?39:49 – Benchmark performance update41:10 – Recommended podcast listening this week: The Vinklevoss Twins on the What Bitcoin Did Podcast & Robert Breedlove on the Bitcoin Fundamentals Podcast (Investors Podcast Network)Copyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Rob Carver returns to the show today to discuss the relevance of open trade equity compared to closed trade equity, the reported return of value’s reign over growth stocks, combining Trend Following portfolios with other strategies, the important of using significant sample sizes when analysing data, why successful systematic traders tend to have the longest documented returns on record.  Questions we answer include: Which type of moving average is generally the most effective in Trend Following?  Do you recommend any hedging strategies?-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rob on Twitter.Follow Moritz on Twitter.Episode TimeStamps:00:00 – Intro02:35 – Macro recap from Niels04:59 – Weekly review of performance27:16 – Q1; Mervin: What investment strategies would you recommending supplementing a Trend Following portfolio with?37:36 – Q2 & Q3; Daniel: How do you think about open trade equity versus closed equity, in terms of drawdowns?  Do you have any recommendations for hedging your Trend Following positions?01:03:57 – Q4; Antonio: Which type of Moving Average (SMA, EMA, ALMA etc) is generally the most effective in Trend Following models?01:22:48 – Benchmark performance update01:23:48 – Recommended podcast listening this week: Rauol Pal on the What Bitcoin Did Podcast & blog post on the Robot Wealth website regarding Tesla’s inclusion in the S&P 500 & William White talking to Jim Grant on Real VisionCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

This week, we discuss the importance of short sellers for well-functioning markets, the benefits of trading index futures versus cash equities, diversification in a robust Trend Following system, Pfizer’s CEO selling a majority of his stock holdings around the vaccine announcement, the differences between top independent discretionary traders & professional money managers, and the increasing use of Modern Monetary Theory (MMT).  Questions we answer this week include: Are shorter timeframes going to be more effective than longer timeframes in the future? What are your thoughts on trading less-liquid markets?-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Moritz on Twitter.Episode TimeStamps:00:00 – Intro02:02 – Macro recap from Niels03:09 – Weekly review of performance28:30 – Q1; James: Would your rules suit cash equities only?38:54 – Q2; Anti: Shorter-term strategies seem to have done well in the last 5 years, should we be looking to trade these shorter timeframes, instead of the longer-term timeframes?46:54 – Q3; Michael: What are your thoughts on trading in smaller markets such as butter, rough rice & oats?01:00:18 – Benchmark performance update01:06:07 – Recommended podcast listening this week: Stephanie Kelton on the Macro Voices Podcast & Chris Cole on the Grant Williams PodcastCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Artem Milinchuk is the CEO and Founder of FarmTogether, a firm specializing in farmland investments. Artem was born in the waning days of the Soviet Union, and while growing up in Russia, saw the importance of access to fresh food for a society. Artem joins us today to talk about his investment journey and why he feels that having farmland as an asset class in your investment portfolio can be one of the smartest investment moves you can make.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn This Episode, You’ll Learn:How the transition from the Soviet Union to Russia influenced Artem’s investment strategiesWhat exactly constitutes farmland as an asset classHow investing in farmland has changed over the past 40 yearsHow farmland investments help multigenerational families keep their farmsWhat is the main driver for investors to move into farmlandWhy investors include farmland in their portfolios as an inflation-proof assetHow reliable is farmland investment dataWhat effect will climate change have on farmland investmentsHow secure are government farm subsidiesThe effect 5G will have on farming and farmland investingWhat are the risks to consider when investing in farmlandWhat is FarmTogether’s farmland investment processHow should an investor go about incorporating farmland into their portfolioHow much does an investor need in order to purchase a farmWhat types of investors seek out farmlandWhat are the key questions potential investors should be asking before investing in farmland-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Farmtogether on Twitter.Copyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer