
Michael Covel's Trend Following Ep. 1216: Marsten Parker Interview with Michael Covel on Trend Following Radio
Sep 18, 2023
Marsten Parker, featured in Jack Schwager's Unknown Market Wizards, joins Michael Covel to discuss systematic trading. Topics include discretionary vs. systematic trading, different trading strategies, backtesting, Jim Simons' career and strategies, misconceptions about short-term trading, and the philosophy of trading and entrepreneurship.
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Episode notes
Discretionary vs Systematic Spectrum
- Discretionary and systematic trading exist on a spectrum rather than a clear divide.
- Often the so-called discretionary part has minimal impact on overall system results.
Use Available Trading Tools
- Every trader should use available computing and backtesting tools to improve their trading.
- Avoid ignoring these tools, especially when managing others' money.
Early Trading Experience
- Marsten tried discretionary day trading early but quit within a month.
- He found coding and systematic trading more engaging and effective.
