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Bestselling author Michael Covel is the host of Trend Following Radio with 10+ million listens. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trading -- all passionately explored and debated. Guests include Nobel Prize winners: Robert Aumann, Angus Deaton, Daniel Kahneman, Oliver Hart, Harry Markowitz & Vernon Smith. More guests: Jack Canfield, Howard Marks, James Altucher, Dan Ariely, Jean-Philippe Bouchaud, Kathleen Eisenhardt, Marc Faber, Tim Ferriss, Jason Fried, Gerd Gigerenzer, Larry Hite, Sally Hogshead, Ryan Holiday, Jack Horner, Ewan Kirk, Steven Kotler, Michael Mauboussin, Tucker Max, Barry Ritholtz, Jim Rogers, Jack Schwager, Ed Seykota, Philip Tetlock & Walter Williams.

Apr 16, 2014

My guest today is William Adams, a private trader and systems developer. He is based in Zurich and works with institutional clients. Adams has over 17 years of experience in financial markets.

The topic is trading.

In this episode of Trend Following Radio we discuss:

  • If Adams views himself as a trend following trader
  • Why the word futures can be problematic
  • Broad diversification and diversifying on a number of different tiers
  • Risk-based diversification
  • Why making sure you’re in the game is the most important factor
  • Why every business is seasonal
  • Why price is the most important aspect to a trade
  • How Adams has (or doesn’t have) the “expertise” to trade certain markets
  • Informing your system of various events as a quantitative or systematic trader
  • Thinking about Adams’ strategy in the context of evolution
  • Core baskets vs. satellite baskets
  • The adaptive aspect of what Adams does
  • The philosophical and operational aspects of volatility
  • Average true range as a volatility measure
  • Trading to make a return vs. trading as an economist
  • Adams’ greatest areas of challenge and frustration
  • Michael Lewis and whether the markets are “rigged”
  • Execution strategy

Jump in!

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I’m MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I’m proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.

To start? I’d like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/

You can watch a free video here: https://www.trendfollowing.com/video/

Can’t get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast

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Hope you enjoy my never-ending podcast conversation!