: Skipping stop-loss orders will eventually wipe out your account.
You need a rule that tells you when to buy or sell. A simple example is a Moving Average Crossover. You might buy when the 16-day average price crosses above the 64-day average price. 2. The Position Size (The Amount)
Carver is the author of five books, including Systematic Trading (2015), Smart Portfolios , Leveraged Trading (2019), Advanced Futures Trading Strategies (2023), and The Art and Science of Trading (forthcoming). His work is distinguished by a rare blend of rigorous academic finance, hands‑on institutional experience, and a clear, pragmatic writing style accessible to serious retail traders.
You don't need a secret file to trade like Carver. You need a spreadsheet and a broker API. Here is the 3-step implementation plan:
A core theme of the book is the , a common pitfall in systematic trading where a strategy is excessively optimized to perform well on past data, only to fail in the future. Carver's institutional experience at AHL teaches him that the key to robustness is simplicity and stability . He uses a decade of institutional knowledge to provide a gold standard for building robust, long-lasting systems. advanced futures trading strategies robert carver pdf
The number of contracts to hold for each instrument at any given time is determined by:
Advanced Futures Trading Strategies is not a beginner’s introduction to futures. It is a dense, practical guide written for traders who already understand the basics but want to move beyond simplistic buy‑and‑hold or single‑strategy approaches. The book provides 30 fully tested trading strategies specifically designed for futures markets. These strategies cover more than 100 tradable instruments and are based on over 50 years of historical data. Importantly, the strategies are suitable for both discretionary traders (those who make judgment‑based decisions) and systematic traders (those who rely on rule‑based, often automated systems).
1. The Core Philosophy: Systematic vs. Discretionary Trading
: Instead of binary "buy/sell" signals, Carver uses a scaled forecast (e.g., -20 to +20) to gradually adjust position sizes based on trend strength. Risk-Based Sizing : Skipping stop-loss orders will eventually wipe out
Systematic strategies must account for execution drag. Carver advocates for slow-to-medium speed trading systems (holding periods of weeks to months) because high-frequency trading eats profits through commissions and bid-ask spreads. Managing Roll Yield
This article serves as a detailed roadmap to Carver's work. We'll explore the foundational concepts of futures trading, the 30 specific strategies, the crucial role of rigorous backtesting and risk management, and most importantly, where you can legally access the PDF.
Traditional trend-following is enhanced with "carry" (the profit from holding a contract), creating a more robust return profile across different market regimes.
[Market Signal] ---> [Position Sizing] ---> [Portfolio Mix] (When to buy) (How much to buy) (Spread the risk) 1. The Trading Rule (The Signal) You might buy when the 16-day average price
. It bridges the gap between basic concepts and institutional-grade portfolio management, utilizing over 50 years of historical data across 100+ instruments. Harriman House Core Features of the Strategies 30 Tested Strategies
I can provide a step-by-step roadmap or Python code snippets to help you build out your backtesting environment. Share public link
: Prioritize "survivability first" by managing position sizes according to market volatility.