Marsten Parker @mars10p Twitter profile

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Marsten Parker

@mars10p

3 years

To me trading is not a performance sport or a competition. My goal is to simply find the least stressful way to maximize the probability that gains will exceed withdrawals.

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Marsten Parker

@mars10p

3 years

Use past tense when referring to backtest results -- the system had (not has) a positive expectancy, its rate of return was (not is) x%, etc. Using present tense implies that the stats are a persistent characteristic of the system, which is generally a delusion.

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Marsten Parker

@mars10p

3 years

Experimenting and practicing gets you farther faster than reading and studying. Try, observe, adjust, repeat...

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Marsten Parker

@mars10p

1 year

I’m excited that @TheChartist have selected RealTest as their new backtesting tool! Thank you, Nick!

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Marsten Parker

@mars10p

4 years

Ed Seykota said "everyone gets what they want out of the market". My stats are the least impressive of anyone in the book, which suits me fine. Be happy with what works for who you are.

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Marsten Parker

@mars10p

3 years

Systematic trading is not rocket science. There are no complex calculations. Just lots of simple ones.

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Marsten Parker

@mars10p

3 years

If an idea takes more than a few minutes to figure out how to test it, then it is not likely to increase your edge.

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Marsten Parker

@mars10p

4 years

I've learned this year that, as @PeterLBrandt wrote, "my job as a trader is really nothing more than that of a glorified order placer." In other words, don't underestimate the importance of optimizing your order management process.

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Marsten Parker

@mars10p

2 years

@PradeepBonde This has always mystified me. You learn so much about markets by getting your hands dirty and coding your own scans. The daily practice of experimenting with this stuff is what builds knowledge gives confidence to put trades on.

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Marsten Parker

@mars10p

3 years

After a freakishly good week, reminding myself that I did not produce that outcome, it's just what happened to happen.

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Marsten Parker

@mars10p

2 months

RIP Jim Simons. Honored to have met him and grateful for his investment in and chairmanship of Segue in the early '90s.

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Marsten Parker

@mars10p

4 years

To avoid "black Friday" crowds, simply decide that you don't care about "getting a good deal", which is largely a delusion anyway. The best deal is when you don't buy anything.

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Marsten Parker

@mars10p

3 years

Drawdowns happen. Anyone who says otherwise is selling something.

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Marsten Parker

@mars10p

3 years

Happy New Year! From the results being shared, it's easy to feel regret if you "only" made 50% or 100% or even 200% last year. Remember that thing called selection bias, be grateful for what you were able to accomplish, and keep up the good work!

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Marsten Parker

@mars10p

3 years

Just finished watching this. Relieved that I sound slightly less stupid than I feared I might have. Thanks @AllxDayxRayx and @vwaptrader1 !

Ray

@AllxDayxRayx

3 years

Talking system trading with ⁦ @mars10p ⁩- profiled in ⁦ @jackschwager ⁩ “Unknown Market Wizards” book Couldn’t have been a more gracious guest; High level conversation

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Marsten Parker

@mars10p

2 years

Among the examples that come with RealTest is an implementation of the seven-strategy stock trading system from @laurensbensdorp 's book. While retesting these examples for my latest software update, I noticed that this system has recently done rather well.

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Marsten Parker

@mars10p

3 years

The process of backtesting and favoring strategies that worked better in the past is generally effective at a coarse level. The delusion is that past stats have any precision as future results indicators.

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Marsten Parker

@mars10p

4 years

Thanks to @PradeepBonde and @jackschwager I am in this book.

stockbee

@PradeepBonde

4 years

Our long time member and resident quant expert is in next Market Wizard book.

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Marsten Parker

@mars10p

4 years

Many thanks to @AlphaMind101 for giving me my first-ever podcast interview!

Steven Goldstein

@AlphaMind101

4 years

🎙New AlphaMind Podcast🎙 Marsten Parker - Market Wizard : The Spirit of Experimentation Marsten is one of the exceptional traders in ‘Unknown Market Wizards’ & the only truly systematic trader featured. 🎧 @jackschwager @mars10p Soundbite attached

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Marsten Parker

@mars10p

3 years

I can't think of many things I'd rather not do than watching live price action and betting on what will happen next.

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Marsten Parker

@mars10p

3 years

My thought most days is that I know my systems are not optimal but I don't feel like working on them so I'll just run them again as-is.

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Marsten Parker

@mars10p

7 months

Good overview of the kinds of strategies that work best for systematic stock trading with daily data.

Helix Trader

@HelixTrader

7 months

It was a delight to be invited on to the Algorithmic Advantage podcast with @RichB118 and @QuantiveAlpha to discuss how retail traders can use a systematic approach to their advantage in the equities and ETF worlds. Love the thumbnail guys! 😉

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Marsten Parker

@mars10p

8 months

@rjparkerjr09 I famously said "don't quit your day job" but I made that choice to optimize for independence and don't regret it. That said, pure independence is a delusion. We need each other and must remain skillful at coexisting.

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Marsten Parker

@mars10p

2 years

Wild day. Weekly P&L went from -3% to +3% since lunchtime. I've had nothing but shorts on all week so this is somewhat of a relief.

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Marsten Parker

@mars10p

3 years

The more forcefully someone asserts that something is someone else's fault, the more likely it's their own.

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Marsten Parker

@mars10p

8 months

@JoachimMo1985 Here is another way to look at this tendency:

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Marsten Parker

@mars10p

3 years

If you start to have an opinion about something, get busy looking for its contradictions.

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Marsten Parker

@mars10p

7 months

@PradeepBonde SA = awareness of whether the current situation provides enough "greater fools" to buy after you do.

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Marsten Parker

@mars10p

4 years

@AlphaMind101 Yes. The most important step in trader development is the step from individual trade focus to aggregate expectancy focus.

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Marsten Parker

@mars10p

2 years

During IB's paper-trading login, you have to click "I understand and accept" that it's a paper account. There is no such warning for a live account. Shouldn't it be the other way around?

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Marsten Parker

@mars10p

4 years

Wow, 2300% growth in follower count in the past 17 hours. At this rate I'll reach a billion by Tuesday.

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Marsten Parker

@mars10p

3 years

Went out and got a pizza, ate it with my daughter, made coffee, drank a cup, said hi to the cat, now back at my desk and apparently quite a bit less poor than when I left it.

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Marsten Parker

@mars10p

3 years

A very happy 4321 to all who celebrate MDY date format.

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Marsten Parker

@mars10p

2 years

@thechartist Reminds me of 2015-08-24, when I was down about that much from high water mark, and staring at another -$150K pre-open loss indication and could not press the start button. Left a very large gain on the table that day.

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Marsten Parker

@mars10p

4 years

Best one-day return in a very long time Friday. Mindset was: press the start button, just like every other day. #systematic

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Marsten Parker

@mars10p

3 years

@jackschwager People drift away from truth when accepting it requires admitting defeat. Or, as a trader would say, taking a loss. Societies drift away from truth when leaders refuse to take losses.

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Marsten Parker

@mars10p

3 years

I'm a mechanical trader because I'm too lazy to do the work required to develop procedural memory at the individual trade level. And/or because I don't believe I would succeed at it. And/or because coding is my favorite pastime.

stockbee

@PradeepBonde

3 years

What do mechanical trader do? They build and external program to perform role of procedural memory.

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Marsten Parker

@mars10p

3 years

I wonder how differently markets would behave if it were illegal for anyone to ever publish/tweet/say what their open positions or intended trades are.

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Marsten Parker

@mars10p

3 years

One good thing about being in a drawdown is that the next one can't start yet. When at zero drawdown, the next one will probably start tomorrow.

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Marsten Parker

@mars10p

2 years

@SJosephBurns @markminervini The number and variety of replies is a fascinating exhibit of people's desire to "be right" (which is harmful in trading). I wish it had been a survey so we could see the answer frequencies.

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Marsten Parker

@mars10p

4 years

It's hard to keep doing what you know how to do when others appear to be more successful doing something else.

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Marsten Parker

@mars10p

1 month

I love this post. And my new favorite Jim Simons quote is "By the way, what is mathematical finance?"

Raphael Douady

@RDouady

1 month

Now that the flow of testimonies about the passing of the legendary Jim Simons has faded, I think I can talk a bit about him. I noticed, by the way, that those I know who knew him the best remained rather silent, I guess out of respect for his stature. Jim was one of the first

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Marsten Parker

@mars10p

3 years

@PradeepBonde That's why I joined stockbee and still regularly read the timeline. The idea for my best strategy of the past few years came from someone who I met there.

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Marsten Parker

@mars10p

4 years

Having just finished the best month of my career, I am, of course, doomed to begin a drawdown. True to form, the momo froth seems to have returned, and it was a crappy day for MR shorts. A market reversal tomorrow would be useful.

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Marsten Parker

@mars10p

1 year

Great work Nick and Zach! Nice to see such first-rate content developed with RealTest.

The Chartist

@thechartist

1 year

Outline of the course content: 001.1 – IMPORTANT INFORMATION 001.2 – COURSE INTRODUCTION INTRODUCTION TO TRADING SYSTEMS 002.1 – WHAT IS A TRADING SYSTEM 002.2 – TYPES OF MARKET SYSTEMS 002.3 – TYPES OF TRADING STRATEGIES SYSTEM BIASES AND ERRORS 003.1 – ROBUSTNESS 003.2 – A

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Marsten Parker

@mars10p

3 years

Don't just believe me. Test it for yourself!

jack schwager

@jackschwager

3 years

#UnknownMarketWizards #Trading #Quote 150/155 It's more effective to build a diverse collection of simple systems than to keep adding rules and re-optimizing a single system. @mars10p #trader #traders #equities #futures

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Marsten Parker

@mars10p

3 years

It would take a million $10K Robinhood accounts to match Hwang's (former) equity level, never mind the 10x+ leverage he fabricated by cloning his collateral.

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Marsten Parker

@mars10p

2 years

Thanks @timdug for this interview:

Marsten Parker- Market Wizard

Marsten has been a full-time individual and purely systematic trader for more than 20 years.RealTest has been evolving over all that time as his primary trad...

www.youtube.com

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Marsten Parker

@mars10p

3 years

Thank you, Andrew, for a great interview!

Better System Trader

@bettersystrader

3 years

The BST LIVE show on “Overcoming broken strategies” with Marsten Parker from Unknown Market Wizards starts in just 13 minutes (7pm Central US time), join us now:

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Marsten Parker

@mars10p

3 years

Now I wonder how much of the Dec-Jan meme-stock moves were caused by Hwang (and other unknowns like him) with r/WSB being just a noisy distraction.

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Marsten Parker

@mars10p

11 months

Shout out echo. I look forward to our chat in one hour!

Michael Covel

@Covel

11 months

I always welcome great introductions for my podcast. Shout out to @RaphaelWilhelm for the intro to @mars10p . That’s textbook awesome easy!

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Marsten Parker

@mars10p

4 years

It feels very strange to find myself being quoted in promotional material for a book after being deliberately "unknown" for so long.

Aravind

@aravindms

4 years

Marsten Parker : Don't quit your day job. @mars10p @jackschwager #UnknownMarketWizards

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Marsten Parker

@mars10p

3 years

From today's NYT email digest: "In coming weeks, I’d encourage you to ignore most Covid prognostications. Nobody knows what will happen next." The word "Covid" is redundant and the second sentence is always true.

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Marsten Parker

@mars10p

4 years

I've never loved trading itself -- realtime decision making or attachment to the outcome of a position -- but I do love the process of testing and implementing trading systems.

jack schwager

@jackschwager

4 years

UMW Quote43/155 One of the essential characteristics of successful traders is that they love to trade. Be sure you really want to trade. And don’t confuse wanting to be rich with wanting to trade. Unless you love the endeavor, you are unlikely to succeed.

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Marsten Parker

@mars10p

1 year

Nice work by a RealTest power user.

LeTour Trader

@LeTourTrader

1 year

The system is a ‘blend’ of ideas from the following resources/traders: @TheChartist TRADESMART - Trader’s Blueprint @mars10p Multi Strategy Backtesting Software @qullamaggie Swing Trading School

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Marsten Parker

@mars10p

3 years

RealTest is now available for free trial and license purchase at .

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Marsten Parker

@mars10p

3 years

@valueandtime @BeyondTheTrades @MarketMakerSins Thanks again for the invite! It was an excellent conversation.

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Marsten Parker

@mars10p

3 years

I confess to having been somewhat hyperbolic. Testing a good idea can take many hours. But if you think about something for awhile and can't figure out how it would be even possible to test it, then it's probably safe to not bother.

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Marsten Parker

@mars10p

3 years

@team3dstocks @CiocanaTrader My calculations used the average percent of eventual daily volume as of each minute across all stocks in my universe that ended up having 2x average volume that day.

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Marsten Parker

@mars10p

3 years

Excellent day. My combined collection of strategies seems to be somewhat inversely correlated to $RUT.

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Marsten Parker

@mars10p

3 years

Happy Thanksgiving Week. Remember that, for reasons I've never understood, Wednesday (the busiest travel day of the year) is a full trading day and Friday (when nobody goes anywhere) is a half day in US markets.

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Marsten Parker

@mars10p

3 years

If you failed to convert your hundreds into millions over the past few months, or gave it all back, the only possible explanation is unfair regulations.

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Marsten Parker

@mars10p

3 years

@PradeepBonde Anesthesia.

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Marsten Parker

@mars10p

3 years

The point is to understand and accept the imprecision. Future results can't be accurately predicted, unless we don't trade.

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Marsten Parker

@mars10p

3 years

@PeterLBrandt @jackschwager My approach is best described as "no opinions, never held". Or you could say that my only opinion is that my systems have positive expectancy, and that opinion is very weakly held indeed.

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Marsten Parker

@mars10p

2 years

Don't quit your day job.

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Marsten Parker

@mars10p

4 years

It's true. Nor have I ever visited a casino or played a card game for money. I've neither the memory for card-counting nor the personality for bluffing, and certainly don't enjoy edgeless gambling.

Steven Goldstein

@AlphaMind101

4 years

🎙New AlphaMind Podcast🎙 Our latest episode features Marsten Parker, one of the exceptional traders in Jack Schwager new book ‘Unknown Market Wizards’. Marsten, paradoxically as you will hear, doesn't even like trading. 🎧

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Marsten Parker

@mars10p

3 years

@AllxDayxRayx @valueandtime @MarketMakerSins You are an excellent host. Thank you for making it so easy and fun to be interviewed!

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Marsten Parker

@mars10p

3 years

Come on @cnbc , say "cover" when reporting about an exit from a short position. Your viewers know what it means.

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Marsten Parker

@mars10p

4 years

Values we voted for: Kindness > Meanness. Evidence > Narrative. Cooperation > Competition. Honesty > Loyalty. Truth > Fear.

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Marsten Parker

@mars10p

3 years

@mikeharrisNY Many libertarians, if being honest, want minimal interference in their own affairs, but want other people to be kept under control...

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Marsten Parker

@mars10p

3 years

RealTest makes it easy to use every feature of @NorgateData . Free trial at .

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Marsten Parker

@mars10p

4 years

Indeed! Thanks to @thechartist for this nice catchphrase.

Steven Goldstein

@AlphaMind101

4 years

Traders give far too much weight to each individual trade. Edges should play out over multiple trades, not one trade. As @mars10p Marsten Parker put it in last week’s AlphaMind podcast ‘Next Thousand Trades’ that’s what matters. 🎧

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Marsten Parker

@mars10p

3 years

So true. And if you think having six screens is the secret to success, that's another shock predictor.

Steven Goldstein

@AlphaMind101

3 years

If you are finding trading easy, then you have a shock coming your way. If you don’t believe this, just ask those who succeeded at trading over the long-term. If you want easy, then trading’s the wrong career for you.

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Marsten Parker

@mars10p

4 years

Best calendar month of my entire trading career (by a hair). Volatile sideways chop is my favorite market regime. But, let's face it, when we have a great month, it's mostly caused by random chance.

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Marsten Parker

@mars10p

4 years

Another friend and trading colleague who I need to thank is @AdamHGrimes . He was there for me in my darkest period, with support and encouragement. A true giver.

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Marsten Parker

@mars10p

3 years

Couldn't have said it better myself 😉

Better System Trader

@bettersystrader

3 years

"There is no cause and effect as to which set of parameters would do well in the future." – Marsten Parker from Unknown Market Wizards. For more details on “Overcoming Broken Strategies” watch along at

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Marsten Parker

@mars10p

4 years

It appears that posting symbols of positions you're in is the thing to do if you're a trader on twitter. I'd do this too, except that most of the time I don't even know what my positions are.

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Marsten Parker

@mars10p

2 years

Sold myself short with a nice entry this morning 😉

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Marsten Parker

@mars10p

3 years

It can be hard to let go of a nice narrative once you've heard it or thought it. (That's why they're so effective as sales tools and for political manipulation.) I strive to keep my thinking and trading narrative-free, or at least narrative-fluid.

Steven Goldstein

@AlphaMind101

3 years

How traders go wrong? 1/ Start with strong belief/view 2/ Seek evidence in price action, news, data, research that validates belief. (Same goes for conspiracy theories btw). Instead: Start with an open-mind or lightly held view. Then be curious; explore, test beliefs/views.

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Marsten Parker

@mars10p

4 years

As usual, I could not remember what my positions were until I opened TWS just now. Looks like about neutral with 6 longs and 6 shorts. Pre-market P&L slightly positive. Plan for the day: import data, run scan, press start.

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Marsten Parker

@mars10p

2 years

I'll short YOU if you'll short ME.

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Marsten Parker

@mars10p

8 months

@JoachimMo1985 This would violate at least two of my rules: don't short stocks under $20 and don't short biotech.

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Marsten Parker

@mars10p

3 years

What kind of person registers for software trials as "John Doe" with a disposable email address?

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Marsten Parker

@mars10p

3 years

@laurensbensdorp Just as trading one system reduces angst about individual position performance, trading multiple systems reduces angst about individual system performance. This makes one less likely to interfere. Reducing the odds of unnecessary interference is an edge.

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Marsten Parker

@mars10p

4 years

@thechartist I'll tell you what his next career should not be. A trader. Nobody is less able to handle a loss than this guy.

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Marsten Parker

@mars10p

11 months

Thanks all. Account has already been deleted. Until next time...

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Marsten Parker

@mars10p

4 years

@Qullamaggie "Don't quit your day job." 😉

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Marsten Parker

@mars10p

8 months

@JoachimMo1985 It's still a single-symbol backtest. I would prefer "wide backtesting".

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Marsten Parker

@mars10p

1 year

@GustavMejlvang_ While I'm happy to see my software praised on Twitter, I have to ask: who are you and why are you impersonating @GustavMejlvang ? This post was made by him last May. I've already reported you and asked others to do so.

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Marsten Parker

@mars10p

4 years

Thanks, Jack!

jack schwager

@jackschwager

4 years

Marsten Parker, one of the traders featured in Unknown Market Wizards, interviewed by AlphaMind: Podcasts: YouTube:

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Marsten Parker

@mars10p

2 years

@thechartist The difference is even greater if you include dividends, which would be received by holding every night.

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Marsten Parker

@mars10p

4 years

Feynman was therefore nearly always in the wrong room.

Prof. Feynman

@ProfFeynman

4 years

If you're the smartest person in the room, then you're in the wrong room. 🧠

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Marsten Parker

@mars10p

1 month

@chatwithtraders @jackschwager @tessa_dao Great job Ian and Tessa with this interview and editing. Really enjoyed talking with you.

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Marsten Parker

@mars10p

4 years

Every now and then, try to imagine how the opinion you're expressing will look in hindsight 5 years from now.

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Marsten Parker

@mars10p

3 years

@mikeharrisNY Studying (system) trades after the fact and testing new ideas based on what I notice (feedback loop) teaches me more than realtime decision making would.

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Marsten Parker

@mars10p

4 years

It would be so much more logical to have the market half-day today when people are (in normal years) trying to travel and a full day Friday.

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Marsten Parker

@mars10p

3 years

@PradeepBonde This greatly reduces the odds of success, because successful trading requires being wrong on a regular basis.

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Marsten Parker

@mars10p

4 years

Has anyone ever changed their mind about anything as a result of reading a tweet? Just wondering.

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Marsten Parker

@mars10p

11 months

There is an imposter of my account. Same handle as mine but with a leading underscore. Not me. Please report them and ignore any DMs etc. Thanks.

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