THE FOUNDATIONS SERIES | INTRODUCTION - ATS Trading Every Outlier Begins Somewhere Introducing the Foundations Series: ten essays on the concepts that systematic trend following depends on, written for the reader who wants to understand before they com...

Every Outlier Begins Somewhere

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WHY MARKETS ARE NOT MACHINES - ATS Trading The economy doesn’t run like clockwork. Understanding why changes everything about how we invest, plan, and respond to uncertainty. Picture a clock. Every gear meshes with the next in a precise sequen...

𝗪𝗵𝘆 𝗠𝗮𝗿𝗸𝗲𝘁𝘀 𝗔𝗿𝗲 𝗡𝗼𝘁 𝗠𝗮𝗰𝗵𝗶𝗻𝗲𝘀

My new book, 𝗖𝗼𝗺𝗽𝗹𝗲𝘅 𝗔𝗱𝗮𝗽𝘁𝗶𝘃𝗲 𝗠𝗮𝗿𝗸𝗲𝘁𝘀: 𝗛𝗼𝘄 𝗟𝗶𝘃𝗶𝗻𝗴 𝗦𝘆𝘀𝘁𝗲𝗺𝘀 𝗦𝗵𝗮𝗽𝗲 𝗙𝗶𝗻𝗮𝗻𝗰𝗲, is the sister volume to 𝗧𝗵𝗲 𝗙𝗿𝗮𝗰𝘁𝗮𝗹𝘀 𝗼𝗳 𝗙𝗶𝗻𝗮𝗻𝗰𝗲.

Read the full piece here: atstradingsolutions.com/why-markets-...

#ComplexityScience #SystematicTrading #TrendFollowing #MarketsAsSystems

THE FRACTALS OF FINANCE | Research Series Phase 2 | Appendix - ATS Trading The Escalator and the Elevator Why long trades and short trades require independent, asymmetric trend models, and the structural mechanism within Fractal Market Theory that explains why. This appendix...

The Escalator and the Elevator: Why Trends Aren't Symmetric

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#TrendFollowing #FractalMarketTheory #SystematicTrading #OutlierHunter

You need a pogo stick :-)

This Week in Trend: 17th April 2026 - ATS Trading The whipsaw ends: Hormuz reopens, oil unwinds, and the TTU Trend Barometer clears 55 into Strong. Week ending 17 April 2026.

This Week in Trend: The Whipsaw Ends

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#TrendFollowing #SystematicTrading #GlobalMacro #TTUTrendBarometer

Appreciate that David. The connections are where the real work is. Keen to see where you take the refinement. :-)

THE FRACTALS OF FINANCE | Research Series Phase 2 | Series Synopsis - ATS Trading The Zero Beneath the Zero What we found when we looked beneath the most quoted statistic in finance, and what it means for how we understand markets. The most quoted statistic in quantitative finance ...

The Zero Beneath the Zero

Read the full synopsis here: atstradingsolutions.com/the-fractals...

#TrendFollowing #QuantitativeFinance #SystematicTrading #MarketStructure

March 2026: When Convexity Cuts Both Ways

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#TrendFollowing #ManagedFutures #SystematicTrading #CTA

Good to hear from you David and congrats on the paper :-) The adaptive vs generative cut is sharp and the primitives lens has real teeth.
The markets example assumes independence, and the Fractals work I've been doing keeps showing conditional memory everywhere. Nothing independent, all connected.

THE COMPLEXITY OF REPLICATION: Why Simpler Is Not Always What It Seems - ATS Trading Replication promises simplicity, but is it? We examine what gets lost when outlier-hunting programs are compressed into a proxy portfolio.

Simplicity is not an architecture. It is packaging.

Article here: atstradingsolutions.com/complexity-o...

#TrendFollowing #ManagedFutures #SystematicTrading #OutlierHunter

THE FRACTALS OF FINANCE | Research Series Phase 2 | Episode 9 of 9 - ATS Trading The Verdict The zero is the most important number in finance. Beneath it lies a system built from feedback, shaped by policy, and running hotter than the textbooks allow. This series began with a numb...

The Verdict

Nine episodes. Sixty-eight markets. Forty years of data.

Read the full article here: atstradingsolutions.com/the-fractals...

#TrendFollowing #SystematicTrading #QuantitativeFinance #MarketStructure

THE FRACTALS OF FINANCE | Research Series Phase 2 | Episode 8 of 9 - ATS Trading The Escalator and the Elevator Why long trades and short trades require independent calibration, and what the data reveals when you test it. Episode 7 ended with a question. Three forces explain the d...

Prices take the escalator up and the elevator down. Your trend model should know the difference.

atstradingsolutions.com/the-fractals...

#TrendFollowing #SystematicTrading #TheFractalsOfFinance #OutlierHunter

Great question Neil, and the short side gets more treatment in the next episode. The asymmetric short side response is actually central to where the series is heading, so I'd rather not shortchange it here. Stay tuned.

DISPATCHES FROM THE OUTPOST | EPISODE 001 | SERIES OVERVIEW - ATS Trading Rich Brennan walks through ATS's 5-part series on why markets are chaotic, fractal, and complex, and what that means for systematic trading.

Dispatches from The Outpost is now live. Episode 001: The Power of Process.

Start with Episode 001.
atstradingsolutions.com/dispatches-f...

#DispatchesFromTheOutpost #SystematicTrading #TrendFollowing #ComplexAdaptiveSystems

The feedback structure persists. Simple trend-following returns do not.

The edge has not died. It has relocated.

Episode 7 of The Fractals of Finance is live now.

atstradingsolutions.com/the-fractals...

#SystematicTrading #QuantitativeFinance #TrendFollowing #MarketStructure

This Week in Trend: 10th April 2026 - ATS Trading Trend following weekly report. Metals bounce, grains surge, energy reverses. TTU Barometer pulls back to 55%. Full review.Relief, Not Resolution — Equities and Bitcoin Surge, Energy Reverses, and the ...

This Week in Trend: Relief, Not Resolution: 10th April 2026

Read the full report here: atstradingsolutions.com/this-week-in...

#TrendFollowing #SystematicTrading #GlobalMacro #TTUTrendBarometer

THE FRACTALS OF FINANCE | Research Series Phase 2 | Episode 6 of 9 - ATS Trading The Fingerprint The two forces are not symmetric. Positive feedback is gentle and sustained. Negative feedback is intense and brief. The ratio between them is the fingerprint that distinguishes every asset class. The feedback structure has been described as two forces alternating across time: positive feedback producing trends, negative feedback producing oscillation. Episodes 1 through […]

Every asset class has a fingerprint. Most traders never see it.

Episode 6 draws the map.
atstradingsolutions.com/the-fractals...

#TrendFollowing #SystematicTrading #ComplexityEconomics #OutlierHunter

THE FRACTALS OF FINANCE | Research Series Phase 2 | Episode 5 of 9 - ATS Trading The Structure Persists Forty years of algorithmic trading, quantitative finance, and massive capital deployment have not diminished the feedback structure. The adaptive markets hypothesis predicts con...

The Random Walk Is Dead. Now We Killed the Next Best Excuse.

The full episode is live.
atstradingsolutions.com/the-fractals...

#SystematicTrading #QuantitativeFinance #TrendFollowing #MarketStructure

THE FRACTALS OF FINANCE | Research Series Phase 2 | Episode 4 of 9 - ATS Trading Proving It Is Not Random The variance ratio was supposed to kill the random walk. It does something better. It reveals the spectrum’s two forces in a completely different test. Act I revealed the coup...

The Random Walk Is Dead. But That's Not the News.

Read Episode 4 here: atstradingsolutions.com/the-fractals...

#TrendFollowing #QuantitativeFinance #FractalsOfFinance #SystematicTrading

Yep that's right.

This Week in Trend: 3rd April 2026 - ATS Trading Trend following weekly report. Metals bounce, grains surge, energy reverses. TTU Barometer pulls back to 55%. Full review.

This Week in Trend: Energy Explodes, Metals Surge, and Equities Reverse on Geopolitics and Tariff Shock | 3 April 2026

This week's full report is now live.
🔗 atstradingsolutions.com/this-week-in...

#TrendFollowing #SystematicTrading #GlobalMacro #TTUTrendBarometer

Cheers Neil :-)

THE FRACTALS OF FINANCE | Research Series Phase 2 | Episode 3 of 9 - ATS Trading The Trend-Equity Paradox Everyone in the industry knows that trend-following provides crisis alpha. Nobody has explained why. The coupled spectrum does. We identified the twenty worst months for the S...

The Trend-Equity Paradox: Now Explained

atstradingsolutions.com/the-fractals...

#TrendFollowing #SystematicTrading #CrisisAlpha #OutlierHunter

ATS Classic – Trend Report: March 2026 - ATS Trading “Regime transitions are rarely gentle. The portfolio absorbs the shock, releases the risk, and prepares for what comes next.” About the ATS Classic Trend Benchmarking Portfolio The ATS Classic Trend P...

Regime Transitions Don't Send Warnings: March 2026 Trend Report

Read the full analysis: atstradingsolutions.com/ats-classic-...

#TrendFollowing #SystematicTrading #RiskManagement #ManagedFutures

THE FRACTALS OF FINANCE | Research Series Phase 2 | Episode 2 of 9 - ATS Trading The Coupled Spectrum Sixty-eight markets. One system. The coupling never switches off. Episode 1 proved that the near-zero autocorrelation is a lie. Beneath it, every market oscillates between periods...

The Coupling Never Switches Off

Markets don't suddenly synchronise during crises.

They were always coupled. The crisis just moved where on the spectrum they sat.

Episode 2 is live. atstradingsolutions.com/the-fractals...

#TheFractalsOfFinance #TrendFollowing #ComplexSystems #QuantitativeFinance

Loose Pants & Big Trends: February 2026 Review

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#TurtleTalk #TrendFollowing #ManagedFutures #MythBusters

THE FRACTALS OF FINANCE | Research Series Phase 2 | Episode 1 of 9 - ATS Trading Zero Doesn’t Mean Nothing How we looked beneath the most quoted statistic in finance and found a machine that should not exist. Phase 1 of this series proved that markets have memory. Across sixty-eig...

Zero Doesn't Mean Nothing

Episode 1 of 9 is live.

atstradingsolutions.com/the-fractals...

#TrendFollowing #SystematicTrading #ComplexityEconomics #OutlierHunter

This Week in Trend: 27th March 2026 - ATS Trading Trend following weekly report. Metals bounce, grains surge, energy reverses. TTU Barometer pulls back to 55%. Full review.

This Week in Trend: Orange Juice Surges, Meats Lead, and Equities Continue Their Slide

Read the full report here: atstradingsolutions.com/this-week-in...

#TrendFollowing #SystematicTrading #GlobalMacro #TTUTrendBarometer

THE FRACTALS OF FINANCE | Research Series Phase 2 | Episode 0 of 9 - ATS Trading Before You Begin The context, the language, and the question that structures everything that follows. What This Series Is This is a nine-episode investigation into how financial markets actually behav...

Three Things in This Series Are Established Knowledge. One Thing Is Not. That One Thing Changes Everything.

Read Episode 0: Before You Begin atstradingsolutions.com/the-fractals...

#FractalFinance #QuantitativeResearch #MarketStructure #TrendFollowing

Out of Equilibrium: The Complete Series - ATS Trading Eight articles. Thirty-eight years of science. One verdict. Over the past two weeks, we published an eight-part series that asked a question the mainstream of finance has been unable to answer for dec...

Eight Articles. Thirty-Eight Years of Science. One Verdict.

The complete series is live now.
atstradingsolutions.com/out-of-equil...

#TrendFollowing #SystematicTrading #ComplexityEconomics #OutlierHunter