Trading Wisdom
At Fidenza Macro, my aim is to provide valuable resources and insights to traders who are looking to improve their skills. There is an overwhelming amount of content out there that can be misleading or disingenuous, especially when it comes to trading. It's my mission to provide content that is based on real experience and expertise, rather than clickbait or gimmicks.
In this section, you'll find all the posts that I have written to date to help traders improve. My goal is to continue adding to this collection over time, so that it becomes a source of inspiration and knowledge for anyone who wants to become a better trader. We hope that you find these resources helpful and informative, and that they help you on your journey towards greater success in the markets.
I also offer trader coaching and mentorship to intermediate to experienced traders. I find it rewarding and a great way to get to know other traders. If this is something you’re interested in, feel free to reach out.
How to improve the quality of decisions when trading
I did an interview on the Decisions That Count podcast where I talked about how to set yourself up for making better decisions and to combat decision fatigue as a trader. I was interviewed by Dr. Sha…
The four quadrant global macro framework (part 1)
When I tell the average layperson I trade global macro, I sometimes get a response that goes like “Wow, it must be hard to keep track of all the different markets and what’s going on everywhere in th…
What's your crypto exit strategy for this cycle? Here's mine
A friend of mine was asking for advice on a crypto exit strategy, and it just so happened that I’ve been wanting to write about this exact thing. In addition to the tactical trading I do in the Fidenza Macro portfolio (which is shared in real-time to paid subscribers), I also have some long term holdings in BTC and other coins that I plan to hold until the end of the current cycle. I believe we are now into the second half of the crypto bull market, so it’s important to have an exit strategy in place. At the top of the market, everyone is bullish and the market always feels like it can continue going higher. It is easy to be blind to the signals that the market is forming a top, which is why a well-laid strategy written beforehand can be a good reminder to take some profits.
Primer on rolling futures month by month, and reading the futures curve
I’m in the middle of nowhere in Mozambique this week with not a lot of access to internet and time to write, so I’m publishing this post that I wrote a few weeks ago. Hope it’s helpful to those reade…
Interview with the WLD Show
I did an interview with the WLD Show a couple weeks ago. The WLD show is an excellent podcast where the hosts interview interesting and successful people from all walks of life. They ask deep questio…
Position sizing 101, 2nd edition
I’ve been getting a lot of questions around position sizing, so I’m reposting this article I wrote over a year ago, and providing some additional context around the percentage of capital one should r…
If I only had two hours a week to manage my investments...
I was catching up with a friend today who told me he is starting to spend more time to learn about investing. This piqued my interest, because these conversations often go in different directions - s…
Reading list for global macro traders
When novice traders ask me for guidance on where to start their trading journey, I usually point them in the direction of my favorite trading books. It would be impossible for me to help a new trader…
5 ways to improve your trading for 2024
Every year I perform a review on my trading results, and outline steps to improve my process for the next year. I identify areas where I made too many mistakes, and tweak my process so that I make fe…
A primer on gold, part 3 - gold vs bitcoin
This is the final part of my series on gold. If you missed the previous parts of this series, make sure you read Part 1 and Part 2. I’m also doing a Cyber M…
A primer on gold, part 2 - What drives the price?
Thank you Substack for featuring me on the Substack Reads page! I’ve been getting a lot of new subscribers coming from the Substack network, without having to do any marketing external platforms at …
A primer on trading gold, part 1 - fundamental facts and modern history
This is part one of a series that I am writing about what I’ve learned about gold and how to trade it. Gold can be a confusing asset to trade, as it has subjective intrinsic value and no cash flow. A…
Should you quit your job to become an independent trader?
In 2017, I left my cushy job managing a trading desk at a bank to manage my own capital full time. I started paying for my own Bloomberg, rented an office, established relationships with brokers and …
5 things that will help your trading (that have nothing to do with trading)
Before I start, I’d like to announce the start of referral awards. Thanks to some of my loyal readers and friends sharing my blog with their network, Fidenza Macro would not have grown like it did. I…
How do you answer when someone asks you "What is your edge"?
You’re interviewing for a trading job and are sitting in a conference room across from the head of trading at a major investment bank. Everything is going smoothly and you think you’ve made a good im…
How do you answer when someone asks you "What is your edge"? - Part 2
This is part 2 of my post about the different types of edges that traders can apply to become profitable. Here is part 1 in case you missed it. Being able to imagine a world vastly different from tod…
Journaling trades and trading mistakes
I’ve been writing my trades in a journal since 2017 using this software called Edgewonk. It’s a software that accomplishes what can probably be done by someone who’s really good with Excel, but with …
Staying centered in your trading
In the high-stakes game of trading, there's an invaluable psychological concept: finding your emotional equilibrium while navigating the markets. When you're centered, you're primed to execute your s…
How to manage trades when they get close to your target
I’d like to start by sharing the interview I did last night with Maggie Lake on Realvision’s Daily Briefing. In the video I discuss global liquidity, the China reopening, vulnerabilities in the gover…
Master your emotions, master your trading
“There an enormous amount of information in our senses, feelings, emotions which are only degrees of intensity of the same physical experience. You get knowledge out of your body - a sense, a feeling…
Axioms of trading, from 2002
I was digging through some old notebooks earlier this year, and one particular I found from 2002 had some nice gems. Along with some old recipes and phone numbers from the UK, I unearthed some notes …
Trading lessons from 2022
Before I begin, make sure you also follow my Twitter account, where I talk about market developments, new trade entries and exits, and anything that comes to mind in between blog posts. If you are fe…
The Greatest Trade
Every trader’s career is defined by a handful of big trades. When I look back, the spread of Covid in the beginning of 2020 was one of my defining moments. As early as January 2020, I was watching Co…
Hello world
Thank you for sharing in my first post and this little experiment of writing a substack newsletter. As someone who trades and invests full time, I share my views with many people - friends, family, o…