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Is the concept of being a great stock picker overrated?  Are Trend Following returns mean-reverting over time?  Will Sharpe Ratios of Trend Following strategies permanently stay lower from now on?  Is it becoming harder to be a successful discretionary macro trader?  Should you use the same stop-loss for every position? We also give our thoughts on the process of adding a new market to your Trading Universe, ATR and how to apply it to your strategies, when a visit from the SEC can be taken as a compliment, why pain and suffering can sometimes be a necessary component of profitable Trend Following, Louis Bacon deciding to close down his funds, and much more. If any listeners would like to leave us a voicemail message to play on the show, you can do so here. Learn more about the free-to-use Top Traders Unplugged Trend Barometer here. You can download your free guide to Systematic Investing, and subscribe to our mailing list by visiting TopTradersUnplugged.com Get a free copy of my latest book "The Many Flavors of Trend Following" here. Send your questions to info@toptradersunplugged.com Follow Niels, Jerry & Moritz on Twitter: @TopTradersLive, @RJparkerjr09 and @MoritzSeibert And please share this episode with a like-minded friend and leave an honest rating & review on iTunes so more people can discover the podcast. Episode Summary 0:00 - Intro 0:57 - Macro recap from Niels 1:55 - Weekly review of returns 8:22  - Top tweets 46:30 - Questions 1/2: Derek; How do you adapt Trend Following models for a constrained universe of markets?  How do you educate fundamental Traders about quant investing? 53:31 - Questions 3/4/5: Jonathan; Does having a 5000 sample size backtest apply to each market in each system? Do you use out-of-sample testing? Do you optimize using multiple time-periods? 1:00:37 - Questions 6/7: Indrius; How do you use ATR? Do you take less risk per market as you trade more positions? 1:04:22 - Question 8/9: Brian; How many other Trend Following managers should you invest in?  How would you seek out other managers to invest in? 1:12:13 - Question 10: Maurici; Do you use the same stop-loss for every position? 1:19:15 - Question 11: Michael; Why incur personnel costs if all you need is a computer to run your systems? 1:23:37 - Performance recap 1:24:44 - Final thoughts; Is it becoming harder to be a discretionary macro trader? Subscribe on: