Ep. 64 – Nail Your Position Sizing with Martin Dimitrov
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Learn mathematical position sizing with Martin Dimitrov with 3 months free coaching from Traders Support Club: www.tscmember.co.uk/tbt
In this episode:
Owen opens up on his struggle to refine his reversal trading system. With the coaching from Traders Support Club he is getting to the right place.
Tom reveals that he is in comfortable profit for the year and is really benefiting from applying TSC mentalities to his already established technical trading systems
In part 2 of our Traders Support Club Risk Management series, Martin Dimitrov talks about position sizing, money management and how to apply data science to your trading.
He teaches us to challenge the way of thinking that we have been taught all our lives, apply data to a new pragmatic approach, throw away absolutes and attack our trading like a professional.
Trader Interview – Martin Dimitrov from Traders Support Club – Position Sizing
Martin Dimitrov brought his calculator to this interview! Martin is one of the smartest traders we have met; seeing everything through the prism of the data.
By taking a mathematical approach to trading, with focus on position sizing and money management, Martin has devised and traded for big profits a number of unique trading systems.
We discuss structured data versus unstructured data and the realities of the hard graft that you need to put in to create a position sizing strategy that knows when to ease off and when to ‘go for the jugular’.
But, caution is the watchword – having blown up several accounts as a new trader, Martin now applies maths, logic and pragmatism to every trading decision he makes.
A New Way of Thinking
Aside from his focus on structured data and mathematically proven ‘edges’ and position sizing, Martin is also an advocate of the ‘question everything’ approach to trading (and indeed, life itself!).
Martin regularly encourages us to question Ali and himself in their coaching. He wants us to question what we are told by others as well as our own preconceived notions.
Martin is fond of a particular example: if you flip a coin 1000 times and get 1000 ‘heads’ in a row, what is the chance that you will get heads next?
If you said 50% then bad luck – you’re wrong. In real-world truth, not GCSE textbook maths, the answer is ‘you will almost certainly get heads, because this coin is clearly weighted’!
He calls us to throw away our old way of thinking, realise that pragmatic truth is the only truth in trading, apply the data to this way of thinking and go at our trading like it is a serious business.
Martin has tens of thousands of manually backtested trades stored on spreadsheets and indelibly imprinted on his mind – this is why he is a fountain of new trading ‘edges’ and aims to make large, consistent profits year on year. Sit up and listen folks!
In this show we mention the XTB Cryptocurrencies Masterclass in London on Saturday 19th August 2017. Owen is going to be there – join him by signing up for free here: http://go.xtb.com/visit/?bta=