Find Your Way Through ATS
A curated map through the ideas, evidence and practice of systematic trading under uncertainty.
ATS has grown into a large body of work. There are foundations, research studies, long-form series, current market reports, practitioner conversations and deeper explorations of the kind of markets systematic traders actually inhabit.
The Compass exists so that none of it has to be approached as a chronological archive. It is the organised way in.
Choose the route that matches the question you are trying to answer.
The Compass guides. The Vault retrieves. Use The Compass when you want a curated path through the ATS framework. Use The Vault when you already know what you are looking for and want to search the complete archive.
Choose your route
Start Here
New to ATS, or simply want the map before choosing a direction? Begin with the page that explains how the major ideas fit together.
Open Start Here →Foundations
The core machinery of systematic trading: systems, edge, sizing, diversification, noise, drawdowns, backtesting, equity curves and process.
Explore Foundations →Research & Evidence
The empirical work: fat tails, outlier distributions, variance, volatility, correlation, compounding, path dependence and robustness.
Explore Research & Evidence →Complex Markets
Complex adaptive systems, emergence, reflexivity, fractals, embedded agents, path dependence and the limits of prediction.
Explore Complex Markets →Practice
Where principles become machinery: system architecture, portfolio construction, position sizing, execution, rollover and implementation.
Explore Practice →Reports & Conversations
Current market observation, historical trend reports and conversations with systematic managers, researchers and practitioners.
Explore Reports & Conversations →How the pieces fit together
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Start Here
The overall orientation. It explains the intellectual landscape and points to the major routes.
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The subject hubs
Foundations, Research & Evidence, Complex Markets, Practice, and Reports & Conversations are the curated entrances to each major area.
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Outlier Hunting
The defining ATS philosophy. It remains prominent in its own right rather than being buried inside a broader navigation hierarchy.
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The Vault
The complete archive and retrieval layer for readers who want to search broadly by title, subject or format.
Not sure where to begin?
If you are new to systematic trading, begin with Start Here and then move into Foundations.
If you already understand the basic machinery, go directly to Outlier Hunting or choose Research & Evidence, Complex Markets, Practice or Reports & Conversations.
There is no required reading order. The Compass is not a syllabus. It is a way of keeping a large body of work navigable as it continues to grow.
The territory will continue to expand. The job of The Compass is to make sure the reader never has to wander through it without a map.
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