Why Go Systematic?
The case for rules over gut, and what systematic investing can and cannot promise.
Lessons
- Discretionary vs SystematicTrading on judgement versus trading on rules — the trade-offs, and why most edges fade without rules.
- What Is an Edge, Really?A repeatable reason your trades win more than they lose. If you cannot name it, you do not have it.
- Expectancy: The Only Number That MattersWin rate times average win minus loss rate times average loss. The formula that decides everything.
- Thinking in ProbabilitiesAny single trade is noise; the edge shows up over hundreds. Why you must zoom out.
- When Systematic Investing FailsRegime change, crowding and decay — the honest limits of any backtested system.