Skip the Gurus: The Free Resources That Actually Teach Systematic Trading
The best free resources for learning systematic trading
Many successful systematic traders didn't learn how to develop algos from school or their work. They learned with free resources that are available for everyone.
The best thing about these free resources is that they are accessible to everyone via the internet. The bad thing is that there are a lot of "trading gurus" and fake information that won't help you on your journey. To truly find what is good for your trading and valuable you need to search deep into nerdy forums and read hours of content to find those few truly valuable lessons.
That's where this post comes in.
I've gathered my personal favorites when it comes to free knowledge in all different forms so you don't have to spend time on finding a good forum or the perfect podcast to improve your systematic trading.
Systematic trading can be learned by anyone.
You don't need a Ph.D. or a data science education to learn and understand this type of trading.
With the resources from this list, you will gain valuable skills and a basic understanding of strategy development and data analysis to be able to create robust strategies and become consistently profitable with them.
"The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading..." - Victor Sperandeo
Ready to dive in?
Here's your list of free resources, designed to give you a comprehensive education in systematic trading:
Blogs:
Blogs are great for reading more in-depth guides and detailed strategies for free, just like we do here on Algomatic Trading. There are a lot of different blogs out there and some can be almost impossible to find without any knowledge about their existence.
The Relaxed Trader: Provides great info about specific strategies and is great at explaining coding and trading solutions in an easy-to-understand way. Kurt, the man behind this blog has more than 18 years of experience with trading and coding the financial markets.
Quantified Strategies: Quantified Strategies is one of the biggest systematic trading blogs. They explain many different strategies for free and also discuss ideas and skills that can help you become a better systematic trader.
QuantInsti: Has a lot of free content for systematic traders, everything from strategies, Python coding guides, and machine learning to risk and portfolio management.
Forums and Online Communities:
Trading forums have been my most valuable free resource when learning systematic trading. In forums, you can do so much more than just explore other people's ideas and strategies. You can also discuss problems and issues with trading or coding.
ProRealCode: Is the coding/trading forum for ProRealTime. In this forum, you can find libraries with custom-made strategies, indicators, and screeners and also discuss strategies and questions that you want answers to.
MQL5: Is the forum for the well-known trading platform MT5. Here you can read about anything with the MT5 coding language but also general trading ideas and problems.
Reddit Communities:
Substack Publications:
TradeQuantix: Is committed to delivering deep, thoughtful explorations of systematic trading concepts.
The Rogue Quant: He shares how he researches, backtests, and builds algorithmic trading strategies from scratch — with full implementation code — while using AI prompts to generate trading ideas fast and explore edges most traders wouldn’t even think to test.
Algomatic Trading Database: We share simple strategies, guides and ideas for robust and diversified algorithmic trading systems.
Podcasts
Better System Trader by Andrew Swanscott, is definitely number one on this list, as the lessons and knowledge that Andrew and his guests share are top-notch and the best you can probably get for free. This is a pure systematic trading podcast, and I have listened to almost every episode. If you haven't listened to this podcast yet, it's time for it.
Top Traders Unplugged by Niels Kaastrup-Larsen, is a very high-quality podcast with several interviews with some of the best systematic traders and hedge fund managers. The lessons that you can learn from these successful traders are priceless, and everyone with a Spotify account can listen to this podcast.
Chat With Traders: Is a podcast that interviews many different kinds of traders, so not every episode is relevant if you want to focus on systematic trading. This doesn't mean, however, that you can learn extremely useful stuff from all episodes.
Books (Worth the Investment):
These books aren't free, they cost a few bucks but I want to include them anyway because they are probably the biggest return on investment you can get. These books can transform your trading from basic to more advanced in a few hundred pages when you otherwise might have to spend a few hundred hours exploring blogs and forums for specifically these lessons. If you are interested in one or more of these books you can buy them via the link and I get some coffee money.
Systematic Trading by Robert Carver: Is probably the best book for beginners. If you want to get into systematic trading seriously you should get your hands on one of these. If you are more of an advanced trader, you will also find some really useful chapters in this book.
Quantitative Momentum by Wesley R. Gray & Jack R. Vogel: If you are interested in primarily momentum trading, this book is for you. This book won't give you a strategy to import to your platform, but it will help you understand momentum and create your own strategy.
Automated Stock Trading Systems by Laurens Bensdorp: You shouldn't see this book as a resource for strategies but as an inspirational guide for you to create your diversified portfolio with multiple strategies. This is a great book for learning diversification and getting new ideas.
Trading in the Zone by Mark Douglas: Is probably the most well-known book on this list. This is not only a book for discretionary traders, but it is incredibly valuable for systematic traders as well. You might think that systematic trading is emotionless, but it isn't. The execution might be emotionless, but when your strategy falls into a drawdown you will feel just as bad whether you or your algo took the trade. This book will help you with dealing with all those emotions when you are in a drawdown. Every good trader has probably read this book at least once on their journey to success.
Level Up Your Trading: A Step-by-Step Guide
There is no specific order for these resources; they all have their own lessons for you to learn.
Generally, books contain more advanced and in-depth explanations, so if you are a beginner trader, I would start with podcasts and blogs.
Forums can have very advanced discussions and problem-solving posts but also very basic stuff, so these can be useful anytime.
Step 1: Explore Blogs for In-Depth Knowledge:
Dive into blogs like "The Relaxed Trader" and "Quantified Strategies" to understand specific strategies and coding solutions.Potential: Understand complex concepts and refine your trading approach.
Step 2: Engage with Forums and Communities:
Join forums like "ProRealCode" and Reddit communities to discuss ideas, solve problems, and connect with other traders.Potential: Gain different perspectives and find solutions to coding or trading issues.
Step 3: Explore Substack Publications:
Read "The Rogue Quant" and "Tradequantix" for unique perspectives and insights on systematic trading.Potential: Discover niche strategies and gain an edge in the market.
Step 4: Listen to Podcasts for Expert Insights:
Tune in to podcasts like "Better System Trader" and "Top Traders Unplugged" to learn from experienced traders and hedge fund managers.Potential: Get insights into advanced strategies and market analysis techniques.
Step 5: Invest in Key Books:
Read books like "Systematic Trading" and "Trading in the Zone" to deepen your understanding and master the psychological aspects of trading.Potential: Elevate your trading from basic to advanced in a few hundred pages.
Conclusion
With a wealth of free resources and valuable books, you have numerous paths you can take to learn systematic trading. If you want to listen to experienced and successful traders and hedge fund managers, you can listen to any of the podcasts.
If you are more into discussions, then any of the forums or Reddit communities we mentioned might be of interest to you.
For all those heavy readers, you might want to read in-depth blog posts or get some of the books we mentioned.
Whether you are a beginner or a more advanced systematic trader, some of the resources we mentioned will be for you.
Great curation.
Really appreciate the shoutout!
Maybe one day i can be on the list :)