Andrea Unger is the only trader to ever win the World Cup Championship of Futures Trading ®* titles 3 years in a row, with returns of 672% in 2008 (futures division), 115% in 2009 (futures division) and 240% in 2010 (futures & forex division).
In 2012 he also took out first place in the Q4 futures & forex division.
In 2005 he won the TopTraderCup in the Futures division with over 60% performance in 3 months. That year he also won the monthly race of the Tcup organisation with over 50% in one month.
He is an honorary member of the “National Investment Consultant Organization” and graduated “honoris causa” in “Portfolio Management and Asset Allocation”.
In this episode Andrea discusses how to create robust strategies, the role of indicators in trading, principles to strategy creation and optimising to understand market behaviour.
- The strategies and position sizing Andrea used to win the world cup trading championship 4 times
- The role of luck in trading
- Controlling risk when trading multiple strategies
- Where to find trading ideas
- The principles Andrea uses in the Forex and Futures markets to develop profitable strategies
- The role of indicators in strategy development
- Matching strategy type to market characteristics
- Why you should analyse your biggest winners as well as your biggest losers
- Forex trading tips and changes in the Forex market
- Using longer timeframes to filter trades in shorter timeframes
- When to optimise or tweak a strategy and how to ensure you don’t over-optimise
- The drawbacks of trend following and the solution
- Tips to handling drawdowns
- Intraday vs End-of-day trading
- The key to trading success
Resources mentioned in this episode
- To learn more about Andrea and his work, checkout his website Oneyeartarget.com, his Facebook page or follow him on Twitter
- He can also be contacted on firstname.lastname@example.org
- Recommended Books:
Top tips from this episode
Andrea provided a number of tips to creating strategies that are robust, here are some of my favourites:
- Study the behaviour of markets, the underlying price action, don’t study the markets based on indicators
- I might use indicators as filters but not as a decision maker
- I only use strategy conditions that make sense, keeps his code simple
- And on the topic of optimisation he said “I run optimisations to study market behaviour, not to find the best values” – if an optimisation indicates specific values are better, say for example shorter values over longer values, don’t just take that at face value, what is that actually telling you about the underlying market behaviour? What can you learn from the observation?
Create your own strategies
Learn how to create your own trading strategies from trading champion Kevin Davey!
His ‘Strategy Factory’ workshop is not your typical trading course: This is a complete workshop on proper strategy development, taught by award winning full time trader and best selling author Kevin Davey, followed by 6 months of one-on-one e-mail support. PLUS, you’ll also receive fully disclosed code for 3 profitable strategies – strategies that Kevin actually trades.
If you want to see some of the out-of-sample results Kevins workshop participants are creating, check this out.
Here is a webinar with Kevin explaining the benefits and results of the Strategy Factory process
*Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. The World Cup Championship of Futures Trading and the World Cup Championship of Forex Trading are registered marks of Robbins Trading Company’s affiliate Robbins Financial Group. Accounts trading in the World Cup Trading Championships (WCC) do not necessarily represent all the WCC accounts controlled by the competitor and may produce results different than the results achieved in other WCC accounts of the competitor.
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20 July 2015