{"id":72,"date":"2015-04-27T00:38:10","date_gmt":"2015-04-26T14:38:10","guid":{"rendered":"http:\/\/li209-143.members.linode.com\/?p=72"},"modified":"2023-08-31T08:57:07","modified_gmt":"2023-08-30T22:57:07","slug":"004-nick-radge","status":"publish","type":"post","link":"https:\/\/bettersystemtrader.com\/004-nick-radge\/","title":{"rendered":"004 &#8211; Trading System Design &#8211; Nick Radge"},"content":{"rendered":"\n<div class=\"wp-block-fusebox-player-single\"><script data-type=\"track\" data-hash=\"Jogy5vKgEB\" data-track=\"4\" src=\"https:\/\/app.fusebox.fm\/embed\/player.js\"><\/script><\/div>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image alignright\"><a href=\"https:\/\/bettersystemtrader.com\/wp-content\/uploads\/2015\/04\/NickRadge.png\"><img decoding=\"async\" width=\"198\" height=\"182\" src=\"https:\/\/bettersystemtrader.com\/wp-content\/uploads\/2015\/04\/NickRadge.png\" alt=\"Ni\" class=\"wp-image-279\"\/><\/a><\/figure>\n\n\n\n<p>Nick Radge&nbsp;is a professional trader, analyst, educator and author.<\/p>\n\n\n\n<p>He\u2019s been trading since 1985, was a floor trader at the Sydney Futures Exchange and worked for international banks in London, Singapore &amp; Sydney.<\/p>\n\n\n\n<p>He is an expert in trading system design and technical analysis.<\/p>\n\n\n\n<p>In our chat we discuss system design, the best type of systems to trade, how observations can lead to better strategies, the best way to handle a bear market, measuring system performance, survivorship bias and the difference between successful traders and everyone else.<\/p>\n\n\n\n<div class='tm-tweet-clear'><\/div><div class='tm-click-to-tweet'><div class='tm-ctt-text'><a href='https:\/\/twitter.com\/share?text=Next+1000+trades.+Everyone+can+do+it%2C+you%27ve+just+got+to+apply+yourself+over+the+longer+term.&#038;via=bettersystrader&#038;related=bettersystrader&#038;url=https:\/\/bettersystemtrader.com\/004-nick-radge\/' target='_blank'>Next 1000 trades. Everyone can do it, you&#8217;ve just got to apply yourself over the longer term.<\/a><\/div><a href='https:\/\/twitter.com\/share?text=Next+1000+trades.+Everyone+can+do+it%2C+you%27ve+just+got+to+apply+yourself+over+the+longer+term.&#038;via=bettersystrader&#038;related=bettersystrader&#038;url=https:\/\/bettersystemtrader.com\/004-nick-radge\/' target='_blank' class='tm-ctt-btn'>Click To Tweet<\/a><div class='tm-ctt-tip'><\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Topics discussed<\/h3>\n\n\n\n<ul>\n<li>The trading style most people should try first<\/li>\n\n\n\n<li>Systematic ways to determine a trend<\/li>\n\n\n\n<li>Why simple systems are the best<\/li>\n\n\n\n<li>Why broker consensus is a poor&nbsp;indicator<\/li>\n\n\n\n<li>The best type of stocks for trend following strategies<\/li>\n\n\n\n<li>What you need to know about a system to be able to handle the drawdown<\/li>\n\n\n\n<li>How observations can lead to better strategies<\/li>\n\n\n\n<li>Why buy and hold offers average returns and the best approach to handling a bear market<\/li>\n\n\n\n<li>How trading can take less than 5 minutes per day<\/li>\n\n\n\n<li>Measuring the performance of a system<\/li>\n\n\n\n<li>The difference between very successful traders and everyone else<\/li>\n\n\n\n<li>The types of survivorship bias that could be ruining your backtest results<\/li>\n\n\n\n<li>The warning signs of over-optimisation<\/li>\n\n\n\n<li>Coping with drawdown and personal doubts<\/li>\n\n\n\n<li>2 basic strategies you can start testing today!<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Resources mentioned in this episode<\/h3>\n\n\n\n<ul>\n<li>To learn more about Nick&nbsp;and his work, checkout his website&nbsp;at&nbsp;<a href=\"http:\/\/bit.ly\/1Ec51wr\" target=\"_blank\" rel=\"noopener\">www.thechartist.com.au<\/a><\/li>\n\n\n\n<li>You can catch him on Twitter <a href=\"http:\/\/bit.ly\/1CWGLIy\" target=\"_blank\" rel=\"noopener\">@thechartist<\/a>&nbsp;or email <a href=\"mailto:nick@thechartist.com.au\" target=\"_blank\" rel=\"noopener\">nick@thechartist.com.au<\/a><\/li>\n\n\n\n<li>He offers a free weekly newsletter packed with great information and trading ideas, get it here<\/li>\n\n\n\n<li>Recommended books:<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><a href=\"http:\/\/amzn.to\/18zABoZ\" target=\"_blank\" rel=\"noopener\" class=\"broken_link\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/bettersystemtrader.com\/wp-content\/uploads\/2015\/08\/NickRadge.jpg\" width=\"205\" height=\"290\" class=\"aligncenter wp-image-1518\" srcset=\"https:\/\/bettersystemtrader.com\/wp-content\/uploads\/2015\/08\/NickRadge.jpg 352w, https:\/\/bettersystemtrader.com\/wp-content\/uploads\/2015\/08\/NickRadge-212x300.jpg 212w\" sizes=\"(max-width: 205px) 100vw, 205px\" \/><\/a><\/td><td><a href=\"http:\/\/amzn.to\/1O0T2q2\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/bettersystemtrader.com\/wp-content\/uploads\/2015\/04\/WeekendTrendTradr.jpg\" width=\"231\" height=\"294\" class=\"aligncenter wp-image-2532 \" srcset=\"https:\/\/bettersystemtrader.com\/wp-content\/uploads\/2015\/04\/WeekendTrendTradr.jpg 263w, https:\/\/bettersystemtrader.com\/wp-content\/uploads\/2015\/04\/WeekendTrendTradr-236x300.jpg 236w\" sizes=\"(max-width: 231px) 100vw, 231px\" \/><\/a><\/td><td><a href=\"http:\/\/amzn.to\/1CWHJoc\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/bettersystemtrader.com\/wp-content\/uploads\/2015\/04\/DivMomo.png\" width=\"203\" height=\"296\" class=\"aligncenter wp-image-2533 \" srcset=\"https:\/\/bettersystemtrader.com\/wp-content\/uploads\/2015\/04\/DivMomo.png 239w, https:\/\/bettersystemtrader.com\/wp-content\/uploads\/2015\/04\/DivMomo-205x300.png 205w\" sizes=\"(max-width: 203px) 100vw, 203px\" \/><\/a><\/td><td><a href=\"http:\/\/amzn.to\/1DtsllL\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/bettersystemtrader.com\/wp-content\/uploads\/2015\/04\/CompleteTurtleTrader.png\" width=\"198\" height=\"295\" class=\"aligncenter wp-image-2534 \" srcset=\"https:\/\/bettersystemtrader.com\/wp-content\/uploads\/2015\/04\/CompleteTurtleTrader.png 234w, https:\/\/bettersystemtrader.com\/wp-content\/uploads\/2015\/04\/CompleteTurtleTrader-201x300.png 201w\" sizes=\"(max-width: 198px) 100vw, 198px\" \/><\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<ul>\n<li><strong>TRADING STRATEGY<\/strong>: Interested in knowing how Nicks Bollinger Band strategy performs? We test it out, check the results&nbsp;<a href=\"https:\/\/bettersystemtrader.com\/bollinger-band-trading-strategy\/\" title=\"Blast Buy &amp; Hold with this simple Bollinger Band strategy\">here<\/a><\/li>\n\n\n\n<li>NOTE: Nick is presenting at the ATAA conference in May, along with a number of other fantastic speakers. More details can be found <a href=\"http:\/\/bit.ly\/1zeSLnh\" target=\"_blank\" rel=\"noopener\">here.<\/a><\/li>\n<\/ul>\n\n\n\n<p>Back to basics trading webinar:<br>https:\/\/vimeo.com\/19621172<\/p>\n\n\n\n<p>What makes a successful trader:<br>https:\/\/youtu.be\/ew1L6SLpHgM<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Quotes<\/h3>\n\n\n\n<div class='tm-tweet-clear'><\/div><div class='tm-click-to-tweet'><div class='tm-ctt-text'><a href='https:\/\/twitter.com\/share?text=You+need+to+understand+why+your+strategy+makes+money&#038;via=bettersystrader&#038;related=bettersystrader&#038;url=https:\/\/bettersystemtrader.com\/004-nick-radge\/' target='_blank'>You need to understand why your strategy makes money<\/a><\/div><a href='https:\/\/twitter.com\/share?text=You+need+to+understand+why+your+strategy+makes+money&#038;via=bettersystrader&#038;related=bettersystrader&#038;url=https:\/\/bettersystemtrader.com\/004-nick-radge\/' target='_blank' class='tm-ctt-btn'>Click To Tweet<\/a><div class='tm-ctt-tip'><\/div><\/div><br><div class='tm-tweet-clear'><\/div><div class='tm-click-to-tweet'><div class='tm-ctt-text'><a href='https:\/\/twitter.com\/share?text=You+want+to+be+full+invested+when+the+market+is+good+and+not+exposed+so+much+when+the+market+is+going+down&#038;via=bettersystrader&#038;related=bettersystrader&#038;url=https:\/\/bettersystemtrader.com\/004-nick-radge\/' target='_blank'>You want to be full invested when the market is good and not exposed so much when the market is going down<\/a><\/div><a href='https:\/\/twitter.com\/share?text=You+want+to+be+full+invested+when+the+market+is+good+and+not+exposed+so+much+when+the+market+is+going+down&#038;via=bettersystrader&#038;related=bettersystrader&#038;url=https:\/\/bettersystemtrader.com\/004-nick-radge\/' target='_blank' class='tm-ctt-btn'>Click To Tweet<\/a><div class='tm-ctt-tip'><\/div><\/div><br><div class='tm-tweet-clear'><\/div><div class='tm-click-to-tweet'><div class='tm-ctt-text'><a href='https:\/\/twitter.com\/share?text=Whatever+drawdown+you+think+you+can+handle+on+paper+is+probably+half+that+in+the+real+world&#038;via=bettersystrader&#038;related=bettersystrader&#038;url=https:\/\/bettersystemtrader.com\/004-nick-radge\/' target='_blank'>Whatever drawdown you think you can handle on paper is probably half that in the real world<\/a><\/div><a href='https:\/\/twitter.com\/share?text=Whatever+drawdown+you+think+you+can+handle+on+paper+is+probably+half+that+in+the+real+world&#038;via=bettersystrader&#038;related=bettersystrader&#038;url=https:\/\/bettersystemtrader.com\/004-nick-radge\/' target='_blank' class='tm-ctt-btn'>Click To Tweet<\/a><div class='tm-ctt-tip'><\/div><\/div><br><div class='tm-tweet-clear'><\/div><div class='tm-click-to-tweet'><div class='tm-ctt-text'><a href='https:\/\/twitter.com\/share?text=People+want+the+strategy+that+is+going+to+work+well+in+all+markets+all+of+the+time.+It+doesn%27t+exist&#038;via=bettersystrader&#038;related=bettersystrader&#038;url=https:\/\/bettersystemtrader.com\/004-nick-radge\/' target='_blank'>People want the strategy that is going to work well in all markets all of the time. It doesn&#8217;t exist<\/a><\/div><a href='https:\/\/twitter.com\/share?text=People+want+the+strategy+that+is+going+to+work+well+in+all+markets+all+of+the+time.+It+doesn%27t+exist&#038;via=bettersystrader&#038;related=bettersystrader&#038;url=https:\/\/bettersystemtrader.com\/004-nick-radge\/' target='_blank' class='tm-ctt-btn'>Click To Tweet<\/a><div class='tm-ctt-tip'><\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Top 5 tips from the&nbsp;chat today<\/h3>\n\n\n\n<ol>\n<li>The key to being comfortable with a strategy is first and foremost you need to understand why your strategy makes money and&nbsp;in what conditions it will get into strife<\/li>\n\n\n\n<li><span>The difference between very successful traders and everyone else is the ability to apply the strategy over the longer term<\/span><\/li>\n\n\n\n<li><span>Next 1000 trades. One trade is not going to make or break you, there is another trade around the corner. Everyone can do it, you&#8217;ve just got to apply yourself over the longer term<\/span><\/li>\n\n\n\n<li><span>People want the strategy that is going to work well in all markets all of the time. It doesn&#8217;t exist<\/span><\/li>\n\n\n\n<li>The way Nick copes with drawdown or self doubt is to look at the experiences&nbsp;and data provided by those managers who have been in the game for 20,30,40 years, understanding their journey can give you the confidence that what you&#8217;re doing will be ok too just by looking at the big picture.<\/li>\n<\/ol>\n\n\n\n<p><script src=\"https:\/\/bettersystemtrader.leadpages.co\/leadbox-1467421193.js\" type=\"text\/javascript\" data-leadbox=\"146fe5e73f72a2:151c4a0a0f46dc\" data-url=\"https:\/\/bettersystemtrader.leadpages.co\/leadbox\/146fe5e73f72a2%3A151c4a0a0f46dc\/5634612826996736\/\" data-config=\"%7B%7D\"><\/script><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Got A Question, Topic or Guest you want to see on the Podcast?<\/strong><\/h3>\n\n\n\n<p><span>Do you have a specific question, topic or guest you&#8217;d like to see on a future&nbsp;podcast episode?<\/span><\/p>\n\n\n\n<p><a href=\"https:\/\/bettersystemtrader.com\/podcast-suggestions\" target=\"_blank\" rel=\"noopener\"><span>Click here<\/span><\/a><span>&nbsp;and submit your suggestion for a chance to have it featured on an&nbsp;upcoming podcast&nbsp;episode.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Get the Transcript<\/strong><\/h3>\n\n\n\n<div class=\"ml-embedded\" data-form=\"hCRKYN\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Subscribe to Better System Trader&nbsp;and never miss another episode!<\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><a href=\"https:\/\/itunes.apple.com\/au\/podcast\/better-system-trader\/id985870258\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/bettersystemtrader.com\/wp-content\/uploads\/2016\/11\/subscribe-with-itunes-button.jpg\" alt=\"subscribe-with-itunes-button\" width=\"200\" height=\"68\" class=\"aligncenter wp-image-3718 size-full\"><\/a><\/td><td><a href=\"http:\/\/www.stitcher.com\/s?fid=64542&amp;refid=stpr\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/bettersystemtrader.com\/wp-content\/uploads\/2015\/07\/stitcher.png\" alt=\"stitcher\" width=\"260\" height=\"53\" class=\"aligncenter wp-image-1208 size-full\"><\/a><\/td><td><a href=\"https:\/\/soundcloud.com\/better-system-trader\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/bettersystemtrader.com\/wp-content\/uploads\/2015\/07\/soundcloud.png\" alt=\"soundcloud\" width=\"260\" height=\"53\" class=\"aligncenter wp-image-1207 size-full\"><\/a><\/td><td><a href=\"http:\/\/subscribeonandroid.com\/bettersystemtrader.libsyn.com\/rss\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/bettersystemtrader.com\/wp-content\/uploads\/2015\/07\/android.png\" alt=\"android\" width=\"260\" height=\"53\" class=\"aligncenter wp-image-1204 size-full\"><\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Please support the podcast by giving an honest Rating\/Review for the show on&nbsp;<a href=\"https:\/\/itunes.apple.com\/au\/podcast\/better-system-trader\/id985870258\" target=\"_blank\" rel=\"noopener\">iTunes!<\/a><\/strong><\/p>\n\n\n\n<p><script src=\"https:\/\/bettersystemtrader.leadpages.co\/leadbox-1478793083.js\" type=\"text\/javascript\" data-leadbox=\"147551973f72a2:151c4a0a0f46dc\" data-url=\"https:\/\/bettersystemtrader.leadpages.co\/leadbox\/147551973f72a2%3A151c4a0a0f46dc\/5656313283477504\/\" data-config=\"%7B%7D\"><\/script><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>Nick Radge&nbsp;is a professional trader, analyst, educator and author. He\u2019s been trading since 1985, was a floor trader at the Sydney Futures Exchange and worked [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9183,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2],"tags":[12,25,13,301,24,23,22,26],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/bettersystemtrader.com\/wp-json\/wp\/v2\/posts\/72"}],"collection":[{"href":"https:\/\/bettersystemtrader.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bettersystemtrader.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bettersystemtrader.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bettersystemtrader.com\/wp-json\/wp\/v2\/comments?post=72"}],"version-history":[{"count":7,"href":"https:\/\/bettersystemtrader.com\/wp-json\/wp\/v2\/posts\/72\/revisions"}],"predecessor-version":[{"id":10652,"href":"https:\/\/bettersystemtrader.com\/wp-json\/wp\/v2\/posts\/72\/revisions\/10652"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bettersystemtrader.com\/wp-json\/wp\/v2\/media\/9183"}],"wp:attachment":[{"href":"https:\/\/bettersystemtrader.com\/wp-json\/wp\/v2\/media?parent=72"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bettersystemtrader.com\/wp-json\/wp\/v2\/categories?post=72"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bettersystemtrader.com\/wp-json\/wp\/v2\/tags?post=72"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}