186: "Breaking the rules for higher returns" – Scott Welsh

World Cup Trading Championship runner-up Scott Welsh joins us to discuss how "breaking the rules" and doing the opposite of "traditional" trading approaches can lead to higher returns, including:

• "Burning the ships" and how limiting beliefs are hurting traders,
• Why traders should "start from the end" and work backwards,
• Why it's good to see losing in your trading,
• The 80/20 rule and why "getting the star" beats diversification,
• How to achieve real-life trading that's better than the backtest,
• Selection bias - is it really so bad?
• Why you should say "screw you" to people who tell you that you can't do it,
• Plus, doing the opposite to conventional trading wisdom, breaking the rules with indicators, strategies that never break, trading platforms, beating buy and hold, small profit targets, and much more.

 

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Trading in the financial markets involves a substantial risk of loss and is not suitable for everyone. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice. Past performance is not necessarily indicative of future results.